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Capital Taxation and Ownership when Markets are Incomplete
Farhi, Emmanuel - National Bureau of Economic Research (NBER) - 2007
growth model with aggregate shocks and incomplete markets. The model features a representative-agent economy with …
Persistent link: https://www.econbiz.de/10005829854
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Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration
Taylor, Alan M. - National Bureau of Economic Research (NBER) - 1995
-1970 period. Conventional reduced-form empirical-growth specifications are augmented by an appeal to structural modelling …, an extension that reveals a rich set of interactions between policy, distortions, factor accumulation and growth. A broad … array of openness measures play a major role in the successful growth performance of the Asia-Pacific region, a key channel …
Persistent link: https://www.econbiz.de/10005829643
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Foreign Capital and Economic Growth in the First Era of Globalization
Bordo, Michael David; Meissner, Christopher M. - National Bureau of Economic Research (NBER) - 2007
. Crises also decreased growth rates of income per capita significantly below trend for at least two years leading to important …
Persistent link: https://www.econbiz.de/10005778274
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Capital Controls in Brazil - Stemming a Tide with a Signal?
Noy, Ilan; Jinjarak, Yothin; Zheng, Huanhuan - National Bureau of Economic Research (NBER) - 2013
Controls on capital inflows have been experiencing a renaissance since 2008, with several prominent emerging markets implementing them. We focus on Brazil, which instituted five changes in its capital account regime in 2008-2011. Using the synthetic control method, we construct counterfactuals...
Persistent link: https://www.econbiz.de/10010969271
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Presidents and the U.S. Economy: An Econometric Exploration
Blinder, Alan S.; Watson, Mark W. - National Bureau of Economic Research (NBER) - 2014
United States is a Democrat rather than a Republican. For many measures, including real GDP growth (on which we concentrate … explanations are examined but fail to explain the partisan growth gap. …
Persistent link: https://www.econbiz.de/10010950782
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Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - National Bureau of Economic Research (NBER) - 2012
The main rationale for policy intervention in debt renegotiation is to enhance such activity when foreclosures are perceived to be inefficiently high. We examine the ability of the government to influence debt renegotiation by empirically evaluating the effects of the 2009 Home Affordable...
Persistent link: https://www.econbiz.de/10010950853
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Nonlinear Adventures at the Zero Lower Bound
Fernandez-Villaverde, Jesus; Rubio-Ramirez, Juan F; … - National Bureau of Economic Research (NBER) - 2012
Motivated by the recent experience of the U.S. and the Eurozone, we describe the quantitative properties of a New Keynesian model with a zero lower bound (ZLB) on nominal interest rates, explicitly accounting for the nonlinearities that the bound brings. Besides showing how such a model can be...
Persistent link: https://www.econbiz.de/10011271396
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Colonial New Jersey's Provincial Fiscal Structure, 1709-1775: Spending Obligations, Revenue Sources, and Tax Burdens in War and in Peace
Grubb, Farley - National Bureau of Economic Research (NBER) - 2015
The spending obligations and revenue sources of colonial New Jersey’s provincial government for the years 1704 through 1775 are reconstituted using forensic accounting techniques from primary sources. Such has not been done previously for any British North American colony. These data are used...
Persistent link: https://www.econbiz.de/10011276438
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Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?
Bacchetta, Philippe; van Wincoop, Eric; Perazzi, Elena - National Bureau of Economic Research (NBER) - 2015
This paper examines quantitatively the potential for monetary policy to avoid self-fulfilling sovereign debt crises. We combine a version of the slow-moving debt crisis model proposed by Lorenzoni and Werning (2014) with a standard New Keynesian model. We consider both conventional and...
Persistent link: https://www.econbiz.de/10011276444
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Monetary Policy, Asset-Price Bubbles and the Zero Lower Bound
Robinson, Tim; Stone, Andrew - National Bureau of Economic Research (NBER) - 2005
We use a simple model of a closed economy to study the recommendations of monetary policy-makers, attempting to respond optimally to an asset-price bubble whose stochastic properties they understand. We focus on the impact which the zero lower bound (ZLB) on nominal interest rates has on the...
Persistent link: https://www.econbiz.de/10005078618