Similar Search Results

A Conceptual Framework for Understanding Critical Transitions

Alston, Lee J. - 2016

Critical transitions for a country are historical periods when the powerful organizations in a country shift from one set of beliefs about how institutions (the formal and informal rules of the game) will affect outcomes to a new set of beliefs. Critical transitions can lead a country toward...

Persistent link: https://www.econbiz.de/10012456531

Culture, Entrepreneurship, and Growth

Doepke, Matthias - 2013

We discuss the two-way link between culture and economic growth. We present a model of endogenous technical change where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that affect the steepness of the lifetime consumption profile....

Persistent link: https://www.econbiz.de/10012459521

From Shame to Game in One Hundred Years : An Economic Model of the Rise in Premarital Sex and its De-Stigmatization

Fernández-Villaverde, Jesús - 2010

Societies socialize children about sex. This is done in the presence of peer-group effects, which may encourage undesirable behavior. Parents want the best for their children. Still, they weigh the marginal gains from socializing their children against its costs. Churches and states may...

Persistent link: https://www.econbiz.de/10012462975

What Governments Maximize and Why : The View from Trade

Gawande, Kishore - 2009

Policy making power enables governments to redistribute income to powerful interests in society. However, some governments exhibit greater concern for aggregate welfare than others. This government behavior may itself be endogenously determined by a number of economic, political and...

Persistent link: https://www.econbiz.de/10012463696

Voting as a Rational Choice : Why and How People Vote to Improve the Well-Being of Others

Edlin, Aaron - 2007

For voters with "social" preferences, the expected utility of voting is approximately independent of the size of the electorate, suggesting that rational voter turnouts can be substantial even in large elections. Less important elections are predicted to have lower turnout, but a feedback...

Persistent link: https://www.econbiz.de/10012465085

Social Value of Public Information : Morris and Shin (2002) Is Actually Pro Transparency, Not Con

Svensson, Lars E.O. - 2005

The main result of Morris and Shin (2002) (restated in papers by Amato, Morris, and Shin (2002) and Amato and Shin (2003) and commented upon by Economist (2004)) has been presented and interpreted as an anti-transparency result: more public information can be bad. However, some scrutiny of the...

Persistent link: https://www.econbiz.de/10012467141

Beyond Random Assignment : Credible Inference of Causal Effects in Dynamic Economies

Hennessy, Christopher A. - 2015

Random assignment is insufficient for measured treatment responses to recover causal effects (comparative statics) in dynamic economies. We characterize analytically bias probabilities and magnitudes. If the policy variable is binary there is attenuation bias. With more than two policy states,...

Persistent link: https://www.econbiz.de/10012457688

Crisis and Commitment : Inflation Credibility and the Vulnerability to Sovereign Debt Crises

Aguiar, Mark - 2013

We propose a continuous time model of nominal debt and investigate the role of inflation credibility in the potential … punishment of default. With high inflation credibility, which can be interpreted as joining a monetary union or issuing foreign … currency debt, debt is effectively real. By contrast, with low inflation credibility, sovereign debt is nominal and in a debt …

Persistent link: https://www.econbiz.de/10012459147

Interest Rate Rules, Inflation Stabilization, and Imperfect Credibility : The Small Open Economy Case

Calvo, Guillermo A. - 2007

distortion, e.g., underutilization of capacity and real exchange rate misalignment. However, while under imperfect credibility … by imperfect credibility …

Persistent link: https://www.econbiz.de/10012465476

Signaling Credibility --- Choosing Optimal Debt and International Reserves

Aizenman, Joshua - 2006

This paper evaluates the challenges facing developing countries when there is uncertainty about the policy maker type. We consider a country characterized by volatile output, inelastic demand for fiscal outlays, high tax collection costs, and sovereign risk, where future output depends on the...

Persistent link: https://www.econbiz.de/10012466258