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Does Inflation Targeting Increase Output Volatility? An International Comparison of Policymakers' Preferences and Outcomes
Cecchetti, Stephen G. - 1999
Aggregate shocks that move output and inflation in opposite directions create a tradeoff between output and inflation variability, forcing central bankers to make a choice. Differences in the degree of accommodation of shocks lead to disparate variability outcomes, revealing national central...
Persistent link: https://www.econbiz.de/10012471355
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The International Transmission of Fiscal Expenditures and Budget Deficits in the World Economy
Frenkel, Jacob A. - 1984
This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty … exert real effects. It is shown that a current budget deficit(resulting from a tax cut) raises world rates of interest. On … transmission. In the long run, a higher steady-state value of government debt raises the steady-state world rate of interest but …
Persistent link: https://www.econbiz.de/10012477559
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Domestic Savings and International Capital Flows
Feldstein, Martin - 1979
How internationally mobile is the world's supply of capital? Does capital flow among industrial countries to equalize …
Persistent link: https://www.econbiz.de/10012478839
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On Secular Stagnation in the Industrialized World
Rachel, Łukasz - 2019
We argue that the economy of the industrialized world taken as a whole is currently - and for the foreseeable future …
Persistent link: https://www.econbiz.de/10012480142
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An Institutional Theory of Public Contracts : Regulatory Implications
Spiller, Pablo T. - 2008
The fundamental feature of private contracting is its relational nature. When faced with unforeseen or unexpected circumstances, private parties, as long as the relation remains worthwhile, adjust their required performance without the need for costly renegotiation or formal recontracting....
Persistent link: https://www.econbiz.de/10012464415
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Current Account Patterns and National Real Estate Markets
Aizenman, Joshua - 2008
This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...
Persistent link: https://www.econbiz.de/10012464726
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Taxes and the Global Allocation of Capital
Backus, David - 2007
Despite enormous growth in international capital flows, capital-output ratios continue to exhibit substantial heterogeneity across countries. We explore the possibility that taxes, particularly corporate taxes, are a significant source of this heterogeneity. The evidence is mixed. Tax rates...
Persistent link: https://www.econbiz.de/10012465015
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Labor Market Institutions Around the World
Freeman, Richard B. - 2007
The paper documents the large cross-country differences in labor institutions that make them a candidate explanatory factor for the divergent economic performance of countries and reviews what economists have learned about the effects of these institutions on economic outcomes. It identifies...
Persistent link: https://www.econbiz.de/10012465411
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Explaining Product Price Differences Across Countries
Lipsey, Robert E. - 2007
A substantial part of international differences in prices of individual products, both goods and services, can be explained by differences in per capita income, wage compression, or low wage dispersion among low-wage workers, and short-term exchange rate fluctuations. Higher per capita income is...
Persistent link: https://www.econbiz.de/10012465414
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Bilateral FDI Flows : Threshold Barriers and Productivity Shocks
Razin, Assaf - 2005
A positive productivity shock in the host country tends typically to increase the volume of the desired FDI flows to the host country, through the standard marginal profitability effect. But, at the same time, such a shock may lower the likelihood of making any new FDI flows by the source...
Persistent link: https://www.econbiz.de/10012467038