Results 71 to 80 of about 2,328 (225)

Consequences of Fiscal Risk to Optimal Monetary Policy

Journal of Money, Credit and Banking, EarlyView.
Abstract We study the optimal monetary policy of a New Keynesian economy on the brink of fiscal dominance. The model features a Markov switching structure to incorporate regime uncertainty. Switching probabilities can be either exogenous or endogenous. We find that a fiscal risk entails a welfare loss and breaks the “divine coincidence” because perfect
OTÁVIO DE A. J. TEIXEIRA, VLADIMIR K. TELES   +1 more
wiley   +1 more source

Fixing Rice Stubble Burning for Delhi's Air: Technological Solutionism and Agrarian Governance in Haryana

Journal of Agrarian Change, EarlyView.
ABSTRACT Every winter, Delhi's polluted air draws national attention to the burning of rice stubble in neighbouring states. Drawing on ethnographic fieldwork in Haryana in north India, this article shows how bureaucrats and scientists attempt to enact certainty around technological solutions to stubble burning even while privately acknowledging their ...
Nikhit Agrawal
wiley   +1 more source

Inflation in Theory and Practice: A Comprehensive Review of the Literature From the Great Inflation to the 2020s Surge

Journal of Economic Surveys, EarlyView.
ABSTRACT The post‐pandemic inflationary spike brought inflation back to the forefront of academic research. In the debate about the origin and nature of the 2020s inflation, economists have been divided into the following two main camps: the demand‐pull camp, which attributed inflation to excess demand and linked it to fiscal and monetary stimulus put ...
Vicente Ferreira
wiley   +1 more source

Aviation and the European Union Emission Trading System: A Bibliometric and Thematic Review

Journal of Economic Surveys, EarlyView.
ABSTRACT Aviation is generally recognized as one of the most carbon intensive forms of transport. In order to tackle aviation's environmental impact, in 2012 the sector has been (partially) included in the European Union Emission Trading System (EU ETS), a market‐based mitigation mechanism designed to put a price on carbon emissions and create an ...
Riccardo Colantuono
wiley   +1 more source

Aggregate Market Power: Measurement, Drivers, and Macroeconomic Effects

Journal of Economic Surveys, EarlyView.
ABSTRACT This survey reviews the macroeconomic literature on market power, focusing on its measurement, determinants, and macroeconomic effects. It synthesizes evidence from concentration ratios, business dynamism indicators, and markup/markdown estimates, documenting a distinct change in trends since the 1980s, especially in the United States ...
Maria Alessandra Rossi
wiley   +1 more source

Capital‐Labour Substitution in Macroeconomics: A Survey of Mechanisms, Dynamics and Policy Insights

Journal of Economic Surveys, EarlyView.
ABSTRACT Macroeconomic conclusions often hinge on a single, hard‐to‐pin‐down parameter: the elasticity of substitution between capital and labour, σ. This survey synthesises theory and evidence on how results change once we move beyond the Cobb–Douglas benchmark (σ=1$\sigma = 1$).
Francisco Rebelo, Fernando Del Río
wiley   +1 more source

Inflation Inequality Across Household Income Groups in Brazil: Persistence, Trend and Volatility

The Manchester School, EarlyView.
ABSTRACT This article investigates inflation inequality across four income strata in Brazil (very low, low, middle, and high income) from July 2006 to April 2025, using the Headline IPCA as a benchmark. We test the hypothesis that inflation dynamics and transmission mechanisms are structurally unequal and disproportionately affect lower‐income ...
Sinara do Valle, Cleomar Gomes da Silva
wiley   +1 more source

The theory of endogenous money and the LM schedule: prelude to a reconstruction of ISLM

Brazilian Journal of Political Economy
Money is at the center of macroeconomics, which makes understanding the money supply central for macroeconomic theory. This paper presents the Post Keynesian theory of endogenous money supply and shows how it is fundamentally different from the ...
THOMAS I. PALLEY
doaj   +1 more source

Tax Progressivity, Public Debt, and Growth in a Neo‐Kaleckian Model

Metroeconomica, EarlyView.
ABSTRACT We develop a neo‐Kaleckian growth‐and‐distribution model featuring two classes of workers and a progressive income tax. Two fiscal closures are considered: balanced budgets and deficit financing via public debt. We study the responses to shocks, including changes in functional income distribution, and assess how tax progressivity alters demand
Tailiny Ventura, Fabrício J. Missio, Júlio Fernando Costa Santos   +2 more
wiley   +1 more source

Anchored or Adrift? A Note on Measuring Inflation Expectations Anchoring

Oxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT We develop a behavioural model of inflation which contains an indicator that quantifies the expectations unanchoring risk over the business cycle. We estimate this model using US and Canadian inflation and output gap data. We find that during the post‐pandemic inflation surge, the macroeconomic data are compatible with non mean‐reverting ...
Olena Kostyshyna, Isabelle Salle, Hung Truong   +2 more
wiley   +1 more source