Showing 1 - 10 of 19
difference in convergence depending on the level of aggregation. While aggregate national inflation rates are diverging …, disaggregate inflation rates are converging. We find that aggregation appears to bias evidence towards non-convergence. Our results …
Persistent link: https://www.econbiz.de/10005549044
Despite some recovery in recent years, Central Asian Republics (CARs) remain in difficult economic situation and they present a serious challenge to Asia. It is in the mutual interest of both CARs and rest of Asia (including India) to explore the avenues for more intensive regional economic...
Persistent link: https://www.econbiz.de/10009363493
While the global economy has pulled back from the financial abyss, it is by no means out of the woods. The developing countries (including India) should be prepared for : (a) medium term stagnation in their exports to the developed countries, (b) severe reduction in inflow of longer term capital...
Persistent link: https://www.econbiz.de/10009363534
This paper examines whether efficiency considerations require that optimal labour income taxation is progressive or regressive in a model with skill heterogeneity, endogenous skill acquisition and a production sector with capital-skill complementarity. We find that wage inequality driven by the...
Persistent link: https://www.econbiz.de/10010896993
This paper analyses optimal income taxes over the business cycle under a balanced-budget restriction, for low, middle and high income agents. A model incorporating capital-skill complementarity in pro- duction and differential access to capital and labour markets is de- veloped to capture the...
Persistent link: https://www.econbiz.de/10011019228
This paper undertakes a normative investigation of the quantita- tive properties of optimal tax smoothing in a business cycle model with state contingent debt, capital-skill complementarity, endogenous skill formation and stochastic shocks to public consumption as well as total factor and...
Persistent link: https://www.econbiz.de/10011019230
This paper considers the role of human capital accumulation of agents differentiated by skill type in the joint determination of social mobility and the skill premium. Our approach allows us to evaluate the dynamic e¤ects of tax reforms and education spending policies on economic e¢ ciency as...
Persistent link: https://www.econbiz.de/10011019239
This paper addresses the issue on whether tax reforms consistent with lower public debt-to-GDP in the long-run can lead to a more efficient and equitable economy. To this end we solve a heterogeneous agent model comprised of a government, a representative capitalist and representative skilled...
Persistent link: https://www.econbiz.de/10008727393
This paper shows that introducing weak property rights in the standard real business cycle (RBC) model can help to explain economic fluctuations. This is motivated by the empirical observation that changes in institutions in emerging markets are related to the evolution of the main macroeconomic...
Persistent link: https://www.econbiz.de/10005687377
We incorporate an uncoordinated redistributive struggle for extra fiscal privileges into an otherwise standard dynamic stochastic general equilibrium model. The main aim is to get model-consistent quantitative evidence of the extent of rent seeking. Our work is motivated by the common belief...
Persistent link: https://www.econbiz.de/10005811772