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Liquidity When It Matters Most: QE and Tobin’s q
Driffill, John; Miller, Marcus - C.E.P.R. Discussion Papers - 2011
How and why do financial conditions matter for real outcomes? The ‘workhorse model of money and liquidity’ of Kiyotaki and Moore (2008) shows how--with full employment maintained by flexible prices--shifting credit constraints can affect investment and future aggregate supply. We show that,...
Persistent link: https://www.econbiz.de/10009275964
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Liquidity Traps: How to Avoid Them and How to Escape Them
Buiter, Willem H.; Panigirtzoglou, Nikolaos - C.E.P.R. Discussion Papers - 1999
The paper considers ways of avoiding a liquidity trap and ways of getting out of one. Unless lower short nominal interest rates are associated with significantly lower interest volatility, a lower average rate of inflation, which will be associated with lower expected nominal interest rates,...
Persistent link: https://www.econbiz.de/10005136693
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The Rise and Fall and Rise ... of the Business Cycle.
Pagan, A. - Research School of Economics, College of Business and … - 1996
In this lecture we have traversed the history, theory and econometrics of business cycles with the aim of making some suggestions about what should appear in any guide book.
Persistent link: https://www.econbiz.de/10005032814
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The Evolution of Endogenous Business Cycles
Farmer, Roger E A - C.E.P.R. Discussion Papers - 2012
This paper distinguishes between two kinds of Endogenous Business Cycle models, and discusses the evolution from first generation EBC1 models to second generation EBC2 models. I argue that EBC1 models, which display dynamic indeterminacy, are part of the evolution of modern macroeconomics that...
Persistent link: https://www.econbiz.de/10011084345
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Gender Peer Effects in School, a Birth Cohort Approach
Ciccone, Antonio; Garcia-Fontes, Walter - C.E.P.R. Discussion Papers - 2014
We propose estimating gender peer effects in school by exploiting within-school variation in gender composition across …
Persistent link: https://www.econbiz.de/10011084254
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Is teenage motherhood contagious? Evidence from a Natural Experiment
Monstad, Karin; Propper, Carol; Salvanes, Kjell G - C.E.P.R. Discussion Papers - 2011
There is relatively little research on peer effects in teenage motherhood despite the fact that peer effects, and in particular social interaction within the family, is likely to be important. We estimate the impact of an elder sister’s teenage fertility on the teenage childbearing of their...
Persistent link: https://www.econbiz.de/10009209828
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Gender Gaps across Countries and Skills: Supply, Demand and the Industry Structure
Olivetti, Claudia; Petrongolo, Barbara - C.E.P.R. Discussion Papers - 2011
The gender wage gap varies widely across countries and across skill groups within countries. Interestingly, there is a positive cross-country correlation between the unskilled-to-skilled gender wage gap and the corresponding gap in hours worked. Based on a canonical supply and demand framework,...
Persistent link: https://www.econbiz.de/10009283390
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Race v. Suffrage: The Determinants of Development in Mississippi
Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2011
-9), as well as the impact of voting registration on education outcomes at different points in time, namely in 1917 and in the …-2000 period. Our main conclusion is that race, rather than political institutions and education policies, is the main force …
Persistent link: https://www.econbiz.de/10009321839
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Human Development in Africa: A Long-run Perspective
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2011
-economy distortions. Contrary to the world experience, in which life expectancy dominated, education has driven progress in African human … exclusively on education achievements. The large country variance of the recovery during the last decade suggests being cautious …
Persistent link: https://www.econbiz.de/10009322973
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More Schooling, More Children: Compulsory Schooling Reforms and Fertility in Europe
Fort, Margherita; Schneeweis, Nicole; Winter-Ebmer, Rudolf - C.E.P.R. Discussion Papers - 2011
We study the relationship between education and fertility, exploiting compulsory schooling reforms in Europe as source … of exogenous variation in education. Using data from 8 European countries, we assess the causal effect of education on … the number of biological kids and the incidence of childlessness. We find that more education causes a substantial …
Persistent link: https://www.econbiz.de/10009324255