Results 111 to 120 of about 102,489 (318)

Policy Relevance of Development Economics Revisited

Asian Development Review, 1989
The state of development economics has recently been the subject of a great deal of discussion. This debate has been initiated by Albert Hirschman’s illuminating paper which traced the extraordinarily productive tensions surrounding the birth of a new ...
Hiroshi Kitamura
doaj   +1 more source

The New Keynesian Phillips Curve: Some Counterfactual Evidence [PDF]

New Keynesian models of the business cycle have become the new paradigm of monetary economics, often used for policy analysis. This paper shows that this class of models fail in one crucial respect: they imply a strong negative contemporaneous ...
Juan Paez-Farrell
core  

Generalizing Determinacy under Monetary and Fiscal Policy Switches: The Case of the Zero Lower Bound

Journal of Money, Credit and Banking, EarlyView.
Abstract In a fixed‐regime context, it has been established since the work of Leeper (1991) that a determinate and unique equilibrium can be achieved under both monetary dominance (characterized by an active monetary policy and a passive fiscal policy) and fiscal dominance (characterized by an active fiscal policy and a passive monetary policy) regimes
SEONGHOON CHO, ANTONIO MORENO
wiley   +1 more source

Political Economy and Economic Science: The Work of Phyllis Deane [PDF]

Some time ago, Phyllis Deane pointed to “an inescapable tension between political economy and economic science”. Yet, the separation of positive economics (pure and empirical) on the one hand and normative economics (pure and applied) on the other is ...
Heinrich Bortis
core  

Monetary Policy and Government Debt

Journal of Money, Credit and Banking, EarlyView.
Abstract We study how the level of government debt affects the effectiveness of monetary policy, that is, the elasticity of economic aggregates to interest rate changes. We build a New Keynesian model where fiscal policy is non‐Ricardian and government debt is risk‐free.
NICOLAS CARAMP, ETHAN FEILICH
wiley   +1 more source

"Financial Markets" [PDF]

This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in "monetary production economies," Post Keynesian economics offers a
Jorg Bibow
core  

Keynesian Beauty Contest in Morocco's Public Procurement Reform [PDF]

arXiv
This paper examines the recent reform of Morocco's public procurement market through the lens of Keynesian beauty contest theory. The reform introduces a mechanism akin to a guessing-the-average game, where bidders attempt to estimate a reference price, which in turn impacts bidding strategies.
arxiv  

Potential Output Pessimism and Austerity in the European Union

Journal of Money, Credit and Banking, EarlyView.
Abstract The paper develops a business cycle model with policymakers' learning about potential output to analyze the European recession following the Global Financial Crisis. The initial recession led to overpessimism about potential output and cyclically adjusted budget balance (CAB), triggering fiscal austerity. The austerity caused further recession,
PEI KUANG, KAUSHIK MITRA
wiley   +1 more source

Fiscal deficit in sub-saharan Africa: A new intuition from the institution and political drivers. [PDF]

PLoS One, 2023
Abanikanda EO, Dada JT, Ogunjumo RA.
europepmc   +1 more source