Narrow search
Showing 1 - 10 of 113
Cover Image
The creation of the rule of law and the legitimacy of property rights : the political and economic consequences of a corrupt privatization
Hoff, Karla Ruth - 2005
"How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? We investigate the demand for the rule of law in post-Communist economies after privatization under the assumption that theft is possible, that those who have "stolen" assets cannot be...
Persistent link: https://www.econbiz.de/10010522421
Cover Image
The Fallacy of the Fiscal Theory of the Price Level
Buiter, Willem H. - 1999
or unsound argument'. The 'fiscal theory of the price level', recently re-developed by Woodford, Cochrane, Sims and … proponents of the fiscal theory of the price level do not accept the fundamental proposition that the government's intertemporal …. Policy conclusions could be drawn from the fiscal theory of the price level that would be harmful if they influenced the …
Persistent link: https://www.econbiz.de/10012471482
Cover Image
Liquidity Traps : How to Avoid Them and How to Escape Them
Buiter, Willem H. - 1999
The paper considers ways of avoiding a liquidity trap and ways of getting out of one. Unless lower short nominal interest rates are associated with significantly lower interest volatility, a lower average rate of inflation, which will be associated with lower expected nominal interest rates,...
Persistent link: https://www.econbiz.de/10012471545
Cover Image
Privatization, Information and Incentives
Sappington, David E. M. - 1987
In this paper, the choice between public and private provision of goods and services is considered. In practice, both modes of operation involve significant delegation of authority, and thus appear quite similar in some respects. The argument here is that the main difference between the two mod-...
Persistent link: https://www.econbiz.de/10012476874
Cover Image
Pareto Efficient and Optimal Taxation and the New New Welfare Economics
Stiglitz, Joseph E. - 1987
This paper surveys recent developments in the theory of pareto efficient taxation. This literature attempts to …
Persistent link: https://www.econbiz.de/10012476881
Cover Image
Project Appraisal and Foreign Exchange Constraints : A Simple Exposition
Blitzer, Charles R. - 1987
In an earlier paper, we showed that the value of shadow prices depends on how the government contemplates re- equilibrating the economy to the perturbation associated with any project, except in the extreme case where the government has chosen all policy instruments optimally. Only under...
Persistent link: https://www.econbiz.de/10012476904
Cover Image
Keynesian, New Keynesian, and New Classical Economics
Greenwald, Bruce C. - 1987
Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads …
Persistent link: https://www.econbiz.de/10012476909
Cover Image
Imperfect Information, Credit Markets and Unemployment
Greenwald, Bruce C. - 1986
This paper describes how imperfect information in both capital and labor markets can, in a context of maximizing firms and perfectly flexible prices and wages, give rise to cyclical variations in unemployment whose character closely resembles that of observed business cycles
Persistent link: https://www.econbiz.de/10012476976
Cover Image
Fiscal Prerequisites for a Viable Managed Exchange Rate Regime : A Non-technical Eclectic Introduction
Buiter, Willem H. - 1986
borrowing. There is not yet any "deep structural" theory justifying the (exogenous) lower bounds on the stock of foreign … exchange reserves characteristic of the collapsing exchange rate literature. Absent such a theory of "international liquidity …
Persistent link: https://www.econbiz.de/10012477028
Cover Image
Death, Population Growth, Productivity Growth and Debt Neutrality
Buiter, Willem H. - 1986
Debt neutrality is said to occur if, given a program for public spending on current goods and services over time, the real equilibrium of the economy (private consumption, investment, relative prices, etc.) is independent of the pattern of government borrowing and lump-sum taxation over time....
Persistent link: https://www.econbiz.de/10012477043