منابع مشابه
Food Security and Government Intervention
All human societies must solve a set of problems related to food. The first of these is to procure edible plants and animals through some form of production process. Early humans relied mainly on hunting, fishing, and gathering all of which are still practiced in the modern world. About 10,000 years ago, certain plants and animals were domesticated giving rise to new methods to produce food. Cr...
متن کاملGovernment intervention and information aggregation by prices1
Market prices are thought to contain a lot of useful information. Hence, regulators (and other agents) are often urged to use market prices to guide decisions. An important issue to consider is the endogeneity of market prices and how they are affected by the prospect of government intervention. We show that if the government learns from the price when taking a corrective action, it might reduc...
متن کاملGovernment Intervention and Information Aggregation by Prices
Governments intervene in firms’ lives in a variety of ways. To enhance the efficiency of government intervention, many researchers and policy makers call for governments to make use of information contained in stock market prices. However, price informativeness is endogenous to government policy. We analyze government policy in light of this endogeneity. In some cases, it is optimal for a gover...
متن کاملGovernment Deficits and Interest Rates: a No-Arbitrage Structural VAR Approach
What is the effect of government deficits on interest rates? This fundamental question has not been convincingly answered. We propose a no-arbitrage structural VAR method that allows us to incorporate the cross-sectional information in bond yields into a structural macroeconomic framework. We find that the government deficit is an important factor behind the yield curve: A one percentage point ...
متن کاملGovernment Intervention during the Asian Crisis
countries. They were viewed as models for advances in technology and economic improvement. In the summer and fall of 1997, however, they experienced financial problems, leading to what is commonly referred to as the “Asian crisis,” and resulting in bailouts of several countries by the International Monetary Fund (IMF). Much of the crisis is attributed to the substantial depreciation of Asian cu...
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ژورنال
عنوان ژورنال: The Review of Financial Studies
سال: 2017
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhx074