Results 91 to 100 of about 601,094 (287)

The State and the Market in Industrial Development: Perspectives from the 1980s

Asian Development Review, 1992
The relationship between the state and the market has been a continuous theme for those economists seeking to understand the process of economic growth and to advise on policies to affect that process.
George Rosen
doaj   +1 more source

Housing Boom‐Bust Cycles and Asymmetric Macroprudential Policy

Journal of Money, Credit and Banking, Volume 57, Issue 2-3, Page 615-643, March-April 2025.
Abstract In this paper, I argue that occasionally binding borrowing constraints are a source of nonlinearity that warrant an appropriate nonlinear macroprudential policy response. Nonlinear policy responses likely better capture the spirit of macroprudential policy. I show that an asymmetric macroprudential policy rule, which lowers the borrowing limit
William Gatt
wiley   +1 more source

Sectoral Labor Mobility and Optimal Monetary Policy [PDF]

arXiv, 2020
How should central banks optimally aggregate sectoral inflation rates in the presence of imperfect labor mobility across sectors? We study this issue in a two-sector New-Keynesian model and show that a lower degree of sectoral labor mobility, ceteris paribus, increases the optimal weight on inflation in a sector that would otherwise receive a lower ...
arxiv  

The Effects of Fiscal Policy When Planning Horizons are Finite

Journal of Money, Credit and Banking, Volume 57, Issue 2-3, Page 549-582, March-April 2025.
Abstract We study the importance of planning horizons for fiscal multipliers in a New‐Keynesian model with bounded rationality. We show that, when agents have shorter planning horizons, government spending multipliers are smaller, whereas labor tax cut multipliers are larger. Furthermore, Ricardian equivalence breaks down, and transfer shocks feature a
JOEP LUSTENHOUWER, KOSTAS MAVROMATIS
wiley   +1 more source

The Attempt to Revitalize Keynes' Theory

Theory, Methodology, Practice, 2002
The article gives a summary of the renewal attempts of the only, through decades dominant general economic theory, the Keynesian economics. Because of the lack of microeconomic bases and the changes happened on the commodity-, labour-, and money markets
Zsuzsa Ortutay
doaj  

Keynesian chaos revisited: odd period cycles and ergodic properties [PDF]

arXiv
In this paper, we study two standard (Keynesian) dynamic macroeconomic models (one is piecewise linear and the other is nonlinear). Our purpose is twofold: (1)~For each model, we give a complete characterisation for the existence of a topological chaos (of the GDP levels), (2)~Even if a chaos exists, using ergodic theory, we show that it is possible to
arxiv  

Regional Agglomeration in Portugal: A Linear Analysis [PDF]

arXiv, 2011
This work aims to study the Portuguese regional agglomeration process, using the linear form the New Economic Geography models that emphasize the importance of spatial factors (distance, costs of transport and communication) in explaining of the concentration of economic activity in certain locations. In a theoretical context, it is intended to explain
arxiv  

New Classical and New Keynesian models of business cycles [PDF]

A presentation of simple, but complete, New Classical and New Keynesian models of the economy and business cycles that illustrate the central force behind fluctuations in each.
Eric Kades
core  

The Rationality Bias

Journal of Money, Credit and Banking, Volume 57, Issue 2-3, Page 515-547, March-April 2025.
Abstract We analyze differences in consumption and wealth in an estimated New Keynesian model with rational and boundedly rational households. Shocks are shown to cause consumption and wealth heterogeneity due to the “rationality bias” of boundedly rational households. This bias can be decomposed into three components, which, for certain specifications
TIM HAGENHOFF, JOEP LUSTENHOUWER, MIKE TSIONAS   +2 more
wiley   +1 more source

Paul Anthony Samuelson and his work (on the hundredth anniversary of his birth)

Ekonomia i Prawo, 2016
Aim: The purpose of this article is an attempt to systematise and evaluate the achievements of the American Nobel laureate in economic sciences and co-founder of ‘neoclassical synthesis’ — P.A.
Mirosław Bochenek
doaj   +1 more source