There is still debate about the role of monetary aggregates (money demand) and their nature in domestic economy, whether there a direct affect indirect affect. After 2008 crisis, became policy tool that played an important maintaining economic stability. This study aims to examine macroeconomic variables on demand for money Indonesia from 2000Q1-2021Q4 using VECM approach. The business cycle us...

Monetary policy rule is an approach to avoid time inconsistency problem as regarded by new classical economist to choose a time plan for policy making in order to maximize households’ well-being. The foundation of time inconsistency problem is not coincidence of expectations as an ex-ante variable, which is expected variable, with actual variable as an ex-post variable. Expectations in Finn K...

Studies of the effects of employment protection frequently examine protective legislation as a whole. From a policy reform perspective, however, it is often critical to know which particular aspect of the legislation is responsible for its observed effects. The American with Disabilities Act (ADA), a 1990 federal law covering over 40 million Americans, is a clear case in point. Several empirica...

Az egyesített növekedéselmélet célja, hogy a gazdasági fejlődés hosszútávú tendenciáit egységes elméleti keretbe ágyazva magyarázza meg. Ennek megfelelően egy sikeres modellnek képesnek kell lennie különböző időszakok, rezsimek közötti átmenetek keretben történő modellezésére. Ebben tanulmányban, három növekedési korszak jellemzőinek áttekintése után, két modellt mutatunk be. Míg Hansen-Prescot...

Aggregate hours worked per working-age person decreased in Austria by 25% from 1970 to 2005. During the same time period, taxes increased, particularly the effective marginal tax rate on labor income. Using a standard general equilibrium growth model with taxes, I quantitatively assess the role played by the evolution of taxes on the evolution of hours worked in Austria. The model accounts for ...