The research reported in this set of three working papers focuses on different assumptions about the intertemporal behavior of government policymakers. In particular, we carefully study alternative specifications of intertemporal fiscal closure rules and their impacts on the effectiveness of...

In this working papers, we use a simple neoclassical growth model to illustrate how consumption, investment, and output -- more broadly, the entire dynamic equation system of a model -- can be strongly influenced by alternative specifications of a reaction function describing the intertemporal...

Examines effects of the 2008-09 financial downturn on all workers with particular attention to low-income older workers who stand to suffer the most, often retiring early because of lack of work; discusses the real effects of the stock market decline, falling house prices, and stagnant job...

Uses world history, the Soviet experience, and economic analysis to demonstrate why Russian nostalgia for empire could lead to repeating past strategies that result in instability, leaving Russia vulnerable to economic downturns - Provided by publisher