Based on the “Aggregate Demand” theory, monetary policies are designed with the aim of achieving desirable level of macroeconomic goals through affecting the stock of money supplyand income velocity of money. Thus, the velocity (V)-as well as money supply - has significant impact, particularly on rate of inflation through expansionary or contractionary monetary policy. To focus on the velocity ...

Why might citizens vote against redistributive policies from which they would seem to benefit? Many scholars focus on “wedge” issues such as religion or race, but another explanation might be geographically-based patronage or pork. We examine the tension between redistribution and patronage with a model that combines partisan elections across multiple districts with legislation in spatial and d...

The paper analyzes the question why the U.S. economy in the 2000:4–2004:3 period was sluggish in light of the large expansionary fiscal and monetary policies that took place. The answer does not appear to be that there were large structural changes in the economy or systematic bad shocks. This paper tests for such changes and shocks, and the results are generally negative. Instead, the main cul...

People's preferences for redistribution are a key component of redistributive policy design, yet how to elicit these is still matter debate. We recruited nationally representative sample more than 5000 US respondents. used an approach based on principles justice people's across different domains. compared the distribution wealth, good educational resources, and health status. found that people ...

Abstract An empirical analysis of voters’ demands for redistributive measures during the energy crisis in Germany reveals three characteristic features inconsistent preferences. First, although people favour targeted support disadvantaged, they deviate from this principle when confronted with policy proposals. Second, policies are often evaluated along party preferences, thus contradicting excl...

This note attempts to present the state of theoretical and empirical research on the politics of redistribution and to draw conclusions about future research priorities. I contrast public choice models with models emphasizing the role of altruistic political attitudes and learning as well as with models stressing the role of party behavior. I also contrast methods of empirical testing based upo...

We investigate how attending an undergraduate course in economics affects students’ financial literacy. The specific conditions of the course, which was compulsorily taken by law students at University Firenze, reproduce a quasi-experiment that enables us to isolate effect and provides solid evidence on its effect. find has positive effects literacy gain is most relevant for coming from backgro...