Showing 1 - 10 of 103
This paper analyzes the structural relationship between policies that distort resource allocation and long-ten growth. It first reviews briefly the Solow model in which steady-state growth depends only on exogenous technological change. Policy distortions do affect the rate of growth in the...
Persistent link: https://www.econbiz.de/10012475823
After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID-19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long-standing social needs has never been more acute....
Persistent link: https://www.econbiz.de/10012700806
In this paper I analyze the nature of external adjustments in current account surplus countries. I ask whether a realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve the current situation of global imbalances. The main...
Persistent link: https://www.econbiz.de/10012465752
Do political institutions shape economic policy? I argue that this question should naturally appeal to economists. Moreover, the answer is in the affirmative, both in theory and in practice. In particular, recent theoretical work predicts systematic eects of electoral rules and political regimes...
Persistent link: https://www.econbiz.de/10012470510
We review the literature on resolving bank and corporate sector crises to identify government policies that affect the depth of a crisis and the ease and sustainability of recovery, and to analyze their fiscal cost. A consistent framework - including sufficient resources for loss-absorption and...
Persistent link: https://www.econbiz.de/10012470334
In this paper, the authors describe a simulation model for analyzing the effects of macroeconomic policies in the OECD on global macroeconomic equilibrium. Particular attention is paid to the effects on developing countries of alternative mixes of monetary and fiscal policies in the OECD.Though...
Persistent link: https://www.econbiz.de/10012477552
The purpose of this paper is to test for evidence of opportunistic "political business cycles" in a large sample of 18 OECD economies. Our results can be summarized as follows: 1) We find very little evidence of pre-electoral effects of economic outcomes, in particular, on GDP growth and...
Persistent link: https://www.econbiz.de/10012475163
Persistent link: https://www.econbiz.de/10009637451
Persistent link: https://www.econbiz.de/10009637452
Persistent link: https://www.econbiz.de/10009637453