Similar Search Results

The Political Economy of Ideas : On Ideas Versus Interests in Policymaking

Mukand, Sharun - 2018

-Becker (interests only) approach to political economy. We distinguish between two kinds of ideational politics - the battle among … different worldviews on the efficacy of policy (worldview politics) versus the politics of victimhood, pride and identity … (identity politics). Political entrepreneurs discover identity and policy 'memes' (narratives, cues, framing) that shift beliefs …

Persistent link: https://www.econbiz.de/10012453247

Search for a Theory of Money

Kiyotaki, Nobuhiro - 1990

The classical and early neoclassical economists knew that the essential function of money was its role as a medium of exchange; Recently, this idea has been formalized using search-theoretic noncooperative equilibrium models of the exchange process. The goal of this paper is to use a simple model...

Persistent link: https://www.econbiz.de/10012475545

The Influence of Irving Fisher on Milton Friedman's Monetary Economics

Bordo, Michael D. - 2011

This paper examines the influence of Irving Fisher's writings on Milton Friedman's work in monetary economics. We focus first on Fisher's influences in monetary theory (the quantity theory of money, the Fisher effect, Gibson's Paradox, the monetary theory of business cycles, and the Phillips...

Persistent link: https://www.econbiz.de/10012461390

Persuasion in Politics

Murphy, Kevin - 2004

We present a model of the creation of social networks, such as political parties, trade unions, religious coalitions, or political action committees, through discussion and mutual persuasion among their members. The key idea is that people are influenced by those inside their network, but not by...

Persistent link: https://www.econbiz.de/10012468445

A New Dilemma : Capital Controls and Monetary Policy in Sudden Stop Economies

Devereux, Michael B. - 2015

The dangers of high capital flow volatility and sudden stops have led economists to promote the use of capital controls as an addition to monetary policy in emerging market economies. This paper studies the benefits of capital controls and monetary policy in an open economy with financial...

Persistent link: https://www.econbiz.de/10012456880

Political Booms, Financial Crises

Herrera, Helios - 2014

We show that political booms, measured by the rise in governments' popularity, predict financial crises above and beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in emerging economies. We show that governments in emerging...

Persistent link: https://www.econbiz.de/10012458321

Fighting the Last War : Economists on the Lender of Last Resort

Grossman, Richard S. - 2015

In this paper we trace the evolution of the lender of last resort doctrine--and its implementation--from the nineteenth century through the panic of 2008. We find that typically the most influential economists "fight the last war": formulating policy guidelines that would have dealt effectively...

Persistent link: https://www.econbiz.de/10012457834

Corporate Liquidity Management : A Conceptual Framework and Survey

Almeida, Heitor - 2013

Ensuring that a firm has sufficient liquidity to finance valuable projects that occur in the future is at the heart of the practice of financial management. Yet, while discussion of these issues goes back at least to Keynes (1936), a substantial literature on the ways in which firms manage...

Persistent link: https://www.econbiz.de/10012459161

David Laidler on Monetarism

Bordo, Michael - 2006

David Laidler has been a major player in the development of the monetarist tradition. As the monetarist approach lost influence on policy makers he kept defending the importance of many of its principles. In this paper we survey and assess the impact on monetary economics of Laidler's work on...

Persistent link: https://www.econbiz.de/10012466068

One Hundred Years of Exchange Rate Economics at The University of Chicago : 1892-1992

Edwards, Sebastian - National Bureau of Economic Research - 2023

In this paper I analyze the work on exchange rates and external imbalances by University of Chicago faculty members during the university's first hundred years, 1892-1992. Many people associate Chicago's views with Milton Friedman's advocacy for flexible exchange rates. But, of course, there was...

Persistent link: https://www.econbiz.de/10014447249

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