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The sectors of coffee and cocoa represented in Côte d'Ivoire, before the political crisis, approximately 15% of the GDP …, first, to evaluate the role of malaria on coffee and cocoa productions, second, to assess if the behaviour of rural … households facing a liberalisation of the coffee and cocoa chains has an impact on their income. Three functions are thus …
Persistent link: https://www.econbiz.de/10008805101
The fiscal theory of the price level says that the price level can be made determinate if the government uses fiscal policies such that government liabilities explode unless the price in the first period is at the "right" level. The policy implications are disturbing, as they call for rather...
Persistent link: https://www.econbiz.de/10010929080
This paper explores the role of corruption in a two-country model with fiscal spillovers. In the absence of cooperation on governance issues, countries always have a strategic incentive to appoint policymakers whose aversion to corruption is lower than average. An international agreement is a...
Persistent link: https://www.econbiz.de/10009277879
In this paper, we introduce input-specific externalities in a dynamic general equilibrium model with heterogeneous households and a finance constraint (Woodford (1986)). In contrast to existing papers, average labor and capital have not a positive impact on the total productivity of factors, but...
Persistent link: https://www.econbiz.de/10010750927
We analyze how investment subsidies can affect aggregate volatility and growth in economies subject to capital market imperfections. Within a model featuring both frictions on the credit market and unequal access to investment opportunities among individuals, we provide specific fiscal...
Persistent link: https://www.econbiz.de/10010738439
This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...
Persistent link: https://www.econbiz.de/10010738606
We assess fiscal performances in G7 and selected Latin American and Asian countries. We analyze two questions: (i) have public finances been sustainable? (ii) do countries follow more restrictive fiscal policies when debt starts to rise? We find that: (i) The traditional unit root tests often...
Persistent link: https://www.econbiz.de/10008789116
The paper presents both the New Consensus and Keynesian equilibrium within the usual fourcompetitive macro-markets structure. It gives theoretical explanations of the perniciouseffects that the NCM governance, which has been designed for ergodic stationary regimes,brings about in Keynesian...
Persistent link: https://www.econbiz.de/10008789572
This paper explores the consequences of introducing a monopolistic competition in an intertemporal two-sector small open economy model which produces traded and non traded goods. It is assumed that the non traded sector is the locus of the imperfectly competition. Our analysis shows that markup...
Persistent link: https://www.econbiz.de/10008790696
The paper studies the effects of heterogeneity upon the monetary and fiscal-budgetary policy interactions in a Keynesian monetary union. As a result of interactions, some of our results contrast sharply with the ones in studies that consider separately monetary, fiscal and budgetary policies....
Persistent link: https://www.econbiz.de/10008792215