Results 101 to 110 of about 78,583 (246)
Supply-side policies and the zero lower bound [PDF]
This paper examines how supply-side policies may play a role in fighting a low aggregate demand that traps an economy at the zero lower bound (ZLB) of nominal interest rates.
Jesús Fernández-Villaverde +2 more
core
Endogenous Tax Compliance and Macroeconomic Performance Driven by Satisficing Evolutionary Dynamics
ABSTRACT We incorporate tax evasion to a demand‐led macrodynamic model of capacity utilization and output growth rate. The frequency of tax evaders is endogenously time‐varying, driven by imitation‐augmented satisficing evolutionary dynamics involving pecuniary factors, as well as non‐pecuniary elements which are reflected in the distribution of tax ...
Leonardo Barros‐Torres +2 more
wiley +1 more source
Modern Democratic Left and Economic Crisis
Political left, notably social democracy, implies acceptance of market economy and parliamentary democracy, as a political framework within which the interests of large sections of the population could be preserved.
Dubravko Radošević
doaj
Monetary Dynamic Stochastic General Equilibrium Models and Inflation Persistence
ABSTRACT The paper investigates the capacity of New Keynesian (NK) models to explain inflation persistence without relying on ad hoc backwards‐looking mechanisms or external source of inertia. It explores various features of NK models– such as sticky wages, roundabout production structure, positive trend inflation, and monetary policy inertia– that ...
Salaheddine El Omari, Jalal Qanas
wiley +1 more source
The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation [PDF]
The paper studies the inflation rate associated with optimal monetary and fiscal policy in a number of standard dynamic stochastic general equilibrium models with nominal price rigidities.
Buiter, Willem H.
core
Federal Reserve Chairs and Monetary Regimes
ABSTRACT This paper extends prior research by introducing a novel econometric framework—Regime‐Dependent Granger Causality—to analyse the systematic elements of United States (US) monetary policy. Using vector autoregressive models allowing for temporary Granger causality, we examine the association between monetary policy regimes—Taylor rules and ...
Yunus Aksoy +2 more
wiley +1 more source
Philosophy of economics: the analysis of alternative directions
Alternative directions in modern economic theory assume philosophical justification. The paper provides methodological analysis of the following alternative directions in economics: the new Austrian school, modern institutionalism, radical political ...
Gerashchenko Igor Germanovich
doaj
Abstract The US Federal Reserve System (Fed) eliminated reserve requirements for banks in March 2020 during the first quarter of the COVID‐19 pandemic to foster bank lending through expansionary monetary policy. However, we find empirical evidence that the reserve requirements elimination was not able to support bank lending but instead increased the ...
Jascha‐Alexander Koch +1 more
wiley +1 more source
Estimating a small DSGE model under rational and measured expectations: some comparisons [PDF]
Using European panel data and GMM system estimation, we explore the empirical performance of the standard three-equation New Keynesian macro model under different informational assumptions.
Paloviita, Maritta
core
Abstract Henry George advocated for capturing land value increases for public ends. The active approach of public authorities organizing and financing land development can help capture higher land value increases, as Hartman and Spit indicate. However, this approach hardly happens in developing countries, where the coalition of private developers and ...
Nannan Xu
wiley +1 more source

