منابع مشابه
Politics and Efficiency of Separating Capital and Ordinary Government Budgets∗
We analyze the democratic politics and competitive economics of a ‘golden rule’ that separates capital and ordinary account budgets and allows a government to issue debt to finance only capital items. Many national governments followed this rule in the 18th and 19th centuries and most U.S. states do today. We study an economy with a growing population of overlapping generations of long-lived bu...
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Aaron Reeves, Sanjay Basu, Martin McKee, Michael Marmot and David Stuckler Department of Sociology, University of Oxford, Oxford, OX3 1UQ, UK Department of Medicine, Stanford University, Palo Alto, CA, 94305, USA Department of Public Health and Policy, LSHTM, London, WC1H 9SH, UK Department of Epidemiology and Public Health, University College London, London, WC1E 6BT, UK Corresponding author: ...
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This paper shows that announced credible disinflations under inflation targeting lead to a boom in a standard New Keynesian model (i.e. a disinflationary boom). This finding is robust with respect to various parameterizations and disinflationary experiments. Thus, it differs from previous findings about disinflationary booms under monetary targeting.
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I develop a framework of the build-up and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: normal times – periods of modest investment, and booms – periods of expansionary investment. Normal times occur when the intermediary sector realizes moderate investment opportunities. Booms occur when the intermediary sect...
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For almost a century, anecdotes have suggested that divorce rates decline during recessions. However, until very recently there has been surprisingly little formal empirical evidence on whether such a link exists, let alone its magnitude if it does. Moreover, the anticipated direction of the effect is ambiguous theoretically. Although previous studies have concluded that individual job loss des...
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ژورنال
عنوان ژورنال: Australian Journal of Agricultural and Resource Economics
سال: 2012
ISSN: 1364-985X
DOI: 10.1111/j.1467-8489.2012.00580.x