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In this paper we analyze the ability of an open economy version of the neoclassical model to account for the time-series evidence on fiscal policy transmission. In a first step, we identify government spending shocks within a vector autoregression model. We find that i) government spending...
Persistent link: https://www.econbiz.de/10008793608
Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four contributions to the literature. Firstly, by applying the 2SLS...
Persistent link: https://www.econbiz.de/10008794278
Contrasting with the 1929 great crisis, authorities intervened forcefully in 2008 to stop the disintegration of the financial system. Governments and central banks then sought to revise the prudential regulation in depth. It would be optimistic, however, to believe that prudential measures,...
Persistent link: https://www.econbiz.de/10008794219
Information and Risk in the Medieval Doctrine of Usury during the Thirteenth Century
Persistent link: https://www.econbiz.de/10010898670
's distinction between three alternative valuations of an individual position: desire (which leads to action), interest, and …'s reactivity to pleasure, and his preference for present (compared to future) pleasures. On the contrary, interest and happiness do … valuation only coincides with interest in the case of what Hume called a “calm passion”, which gives birth to the greatest …
Persistent link: https://www.econbiz.de/10008790949
finding holds for different types of crises (banking, currency and debt), and is robust to a wide set of alternative …
Persistent link: https://www.econbiz.de/10010899377
This paper proposes theoretical and empirical analysis of the effect of capital controls and alternative exchange rate regimes on the patterns of speculative capital. I argue that the exchange rate regime and its interaction with the monetary regime can explain the patterns of speculative...
Persistent link: https://www.econbiz.de/10010738966
Restructuring practices belong to today's organizational life. Even if the phenomenon is not new it significantly … decisions. Much debated in popular medias, restructuring issues have been also inspiring scholars from various fields (sociology … hardly contributed in understanding the deep complexity and the multiple hidden dimensions of restructuring situations. We …
Persistent link: https://www.econbiz.de/10010679658
This paper applies the theme of sustainable development to the case of urban transport and daily mobility of the inhabitants of a city. A set of indicators which simultaneously takes the three dimensions of sustainability––environmental, economic, and social––into account is suggested....
Persistent link: https://www.econbiz.de/10008789633
addition, the article includes export and external debt as strong alternatives. Empirical data of the World Bank are analyzed …
Persistent link: https://www.econbiz.de/10011025683