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The objective of this paper is to point out that dollarization may be used as a signaling device. To this end, we introduce into a standard monetary policy model two types of governments: good and bad. Information is asymmetric, the government type is uncertain and the policy of the bad...
Persistent link: https://www.econbiz.de/10010939286
We study division of labour, innovation, and economic growth in a world with indivisibilities. In order to increase the division of labour, more specialized, labour saving capital varieties must be invented, which can be done only subject to a minimum size requirement. Thus, the division of...
Persistent link: https://www.econbiz.de/10010698682