Showing 1 - 10 of 180
This paper investigates the relation between the rise in external debt and fiscal developments in Greece. We use an … reduction in (non-interest) government expenditure. They also suggest that in the case of Greece there is no further scope for a … steady-state increase in seigniorage revenue. In fact, the inflation rate slightly exceeds the seigniorage-maximizing rate …
Persistent link: https://www.econbiz.de/10005791963
This paper assesses how structural transformation is affected by sectoral differences in labor-augmenting technological progress, capital intensity, and substitutability between capital and labor. We estimate CES production functions for agriculture, manufacturing, and services on postwar US...
Persistent link: https://www.econbiz.de/10011084211
Using industry-level data, this paper shows that the European transition region benefited much more strongly from financial integration in terms of economic growth than other developing countries in the years preceding the current crisis. We analyze several factors that may explain this finding:...
Persistent link: https://www.econbiz.de/10008784718
This paper analyses the tendency for nations to break up as a result of a trade-off between the aggregate efficiency losses from separation and the redistributive gains to the majority, which can occur in all regions, even when there are no transfers across these regions. We show that...
Persistent link: https://www.econbiz.de/10005661906
surveying Pakistani soccer-ball producers. We document six facts: (1) Mark-ups are more dispersed than costs; (2) Mark-ups and … costs increase with firm size; (3) The mark-up elasticity with respect to size exceeds the cost elasticity; (4) Costs …
Persistent link: https://www.econbiz.de/10011145410
Mexican exports to the US in 2001, this Paper estimates the likely costs of different RoO for final and intermediate goods … revealed preference criterion that estimated costs should be less than preference rates when utilization rates are …
Persistent link: https://www.econbiz.de/10005666719
effects across countries subjected to some set of PSRO and to compute estimates of the compliance costs associated with rules …
Persistent link: https://www.econbiz.de/10005666836
Motivated the European debt crisis, we construct a tractable theory of sovereign debt and structural reforms under limited commitment. The government of a sovereign country which has fallen into a recession of an uncertain duration issues one-period debt and can renege on its obligations by...
Persistent link: https://www.econbiz.de/10011276380
terms of trade. We take this evidence to suggest that the propagation mechanism for business cycles in Greece is fairly …
Persistent link: https://www.econbiz.de/10005498026
, output and inflation, and is pivotal for the effects of macroeconomic policies. The model is estimated and tested for the … postwar period, and is used to assess the macroeconomic experience and policy options in Greece. …
Persistent link: https://www.econbiz.de/10005504264