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Going to Extremes: Politics after Financial Crisis, 1870-2014

Funke, Manuel; Schularick, Moritz; Trebesch, Christoph - 2015

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. In this paper we study the political fall-out from systemic...

Persistent link: https://www.econbiz.de/10011388234

Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol?

Baumeister, Christiane; Ellwanger, Reinhard; Kilian, Lutz - 2016

It is commonly believed that the response of the price of corn ethanol (and hence of the price of corn) to shifts in biofuel policies operates in part through market expectations and shifts in storage demand, yet to date it has proved difficult to measure these expectations and to empirically...

Persistent link: https://www.econbiz.de/10011615837

Non-cooperative and Cooperative Policy Reforms under Uncertainty and Spillovers

Hefeker, Carsten; Neugart, Michael - 2017

When countries need to implement costly economic policy reforms, these often imply uncertainties about their effectiveness for the home country and their spillovers to other countries. We develop a model to show that under these circumstances countries implement too few or too many policy...

Persistent link: https://www.econbiz.de/10011615884

Policy Uncertainty and Manufacturing Investment: Evidence from U.S. State Elections

Shelton, Cameron A.; Falk, Nathan - 2016

We estimate the effect of electorally induced policy uncertainty on investment in the manufacturing sector. Because state governors exercise considerable influence over legislation and considerable discretion over regulation and permitting, and because the policies relevant to business...

Persistent link: https://www.econbiz.de/10011451465

Right and Yet Wrong: A Spatio-Temporal Evaluation of Germany's Covid-19 Containment Policy

Berlemann, Michael; Haustein, Erik - 2020

In order to get the Covid-19 pandemic under control, most governments around the globe have adopted some sort of containment policies. In the light of the enormous costs of these policies, in many countries highly controversial discussions on the adequacy of the chosen policies evolved. We...

Persistent link: https://www.econbiz.de/10012269516

Economic Policy Uncertainty, Trust and Inflation Expectations

Istrefi, Klodiana; Piloiu, Anamaria - 2013

Theory and evidence suggest that in an environment of well-anchored expectations, temporary news or shocks to economic variables, should not affect agents' expectations of inflation in the long term. Our estimated structural VARs show that both long- and short-term inflation expectations are...

Persistent link: https://www.econbiz.de/10010317052

Political Stability and Economic Prosperity : Are Coups Bad for Growth?

Blum, Johannes - 2020

We provide evidence that political instability deteriorates economic growth. We establish this result based on panel difference-in-differences strategies and dynamic panel data models using a large sample of 180 countries, a novel geocoded dataset for 2,660 regions, and micro data for about...

Persistent link: https://www.econbiz.de/10012832193

The Economics of Politically Connected Firms

Choi, Jay Pil; Thum, Marcel P. - 2021

building up a network of politically connected firms acts as a substitute for investments in autonomous stability (such as …

Persistent link: https://www.econbiz.de/10013317003

Investment Policy for Time-Inconsistent Discounters

Harstad, Bård - 2013

the current principal prefers her future self to save more, she can increase current investments complementary to future … savings and decrease investments in the strategic substitutes, for example. To characterize the principal's choices they are … benefits from subsidizing investments in green capital (complementary to future savings) and tax investments in substitute …

Persistent link: https://www.econbiz.de/10010328803

Price-dependent profit sharing as an escape from the Bertrand paradox

Foros, Øystein; Hagen, Kåre P.; Kind, Hans Jarle - 2007

firms undertake investments which benefit the industry in aggregate. The model is consistent with observations from the …

Persistent link: https://www.econbiz.de/10010264075