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The Swinging Dollar: Is Europe Out of Step?

Wyplosz, Charles - C.E.P.R. Discussion Papers - 1988

The large dollar fluctuations of the last decade are often viewed as a classic example of a lack of macroeconomic coordination. This paper examines these fluctuations from a European perspective and suggests five conclusions. First, interdependence between Europe and the US is quite limited as...

Persistent link: https://www.econbiz.de/10005281278

Managed Floating: Understanding the New International Monetary Order

Bofinger, Peter; Wollmershaeuser, Timo - C.E.P.R. Discussion Papers - 2001

corner solutions. These intermediate regimes are characterized by significant foreign exchange market interventions of … different forms of floating on the basis of a central bank's intervention activity: pure floating (no interventions … interventions and sterilization and we explain why a central bank has an interest in controlling simultaneously the exchange rate …

Persistent link: https://www.econbiz.de/10005114175

How Long Do Unilateral Target Zones Last?

Dumas, Bernard J; Svensson, Lars E O - C.E.P.R. Discussion Papers - 1992

We examine the expected survival time of a unilateral exchange rate target zone, when constraints on monetary policy prevent the central bank from exclusively focusing on defending the target zone. In general, the width of the target zone has a negligible effect on the expected survival time,...

Persistent link: https://www.econbiz.de/10005791503

Target Zones and Realignments

Bertola, Giuseppe; Caballero, Ricardo - C.E.P.R. Discussion Papers - 1990

Recent contribution emphasize that the presence of exchange rate target zones has important effects on the within-band behaviour of exchange rates. We show that the implications of available models are strikingly inconsistent with European Monetary System data, and we propose a model of...

Persistent link: https://www.econbiz.de/10005792134

Optimal Public Policy for Venture Capital Backed Innovation

Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2003

This Paper discusses the role of public policy towards the venture capital industry. The model emphasises four margins: supply of entrepreneurs due to career choice, entry of venture capital funds and search for investment opportunities, simultaneous entrepreneurial effort and managerial advice...

Persistent link: https://www.econbiz.de/10005497714

The Endogenous Determination of Minimum Wage

Epstein, Gil S; Nitzan, Shmuel - C.E.P.R. Discussion Papers - 1999

In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and of political culture on the determination of the minimum wage. In...

Persistent link: https://www.econbiz.de/10005497998

The Political Economy of Clientelism

Robinson, James A; Verdier, Thierry - C.E.P.R. Discussion Papers - 2002

Income redistribution often takes highly inefficient forms, such as employment in the bureaucracy. We argue that this arises as an optimal political strategy in situations where politicians cannot commit to policies. Political exchanges between politicians and voters must be self-enforcing and...

Persistent link: https://www.econbiz.de/10005504795

The Implications of British Macroeconomic Policy in the 1930s for Long Run Growth Performance

Broadberry, Stephen N; Crafts, Nicholas - C.E.P.R. Discussion Papers - 1990

The paper provides a synthesis of recent research relating to supply side policy in the 1930s in a period when government sought to raise prices given sticky wages. We argue that as a politically constrained strategy to limit rises in unemployment this made sense. A bargaining model approach...

Persistent link: https://www.econbiz.de/10005667002

Income Taxes and Women's Economic Dependency: A Comparison of West Germany and Sweden

Gustafsson, Siv - C.E.P.R. Discussion Papers - 1988

Swedish wives' market earnings contribute 39% of the net family earnings of couples living together. German wives contribute 12%. This paper employs Swedish and German micro data on earnings and personal characteristics of couples. After tax earnings are simulated, under both the tax system of...

Persistent link: https://www.econbiz.de/10005791943

Escaping Epidemics Through Migration? Quarantine Measures Under Asymmetric Information About Infection Risk.

Mesnard, Alice; Seabright, Paul - C.E.P.R. Discussion Papers - 2008

This paper explores implications of the fact that individuals know more than the authorities about their risk of infection and can take migration decisions before their health status is publicly observable. In a 2-period model we study under which conditions the presence of quarantine measures...

Persistent link: https://www.econbiz.de/10005661880