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The macroeconomic policy challenges of balance sheet recession : lessons from Japan for the European crisis
Schnabl, Gunther - 2013
current crisis therapies. -- Japan ; Europe ; bubble economy ; European crisis ; low interest rate policy ; government debt …The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary …
Persistent link: https://www.econbiz.de/10009743745
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Long memory in US real output per capita
Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2009
This paper analyses the long memory properties of quarterly real output per capita in the US (1948Q1 - 2008Q3) using non-parametric, semi-parametric and parametric techniques. The results vary substantially depending on the methodology employed. Evidence of mean reversion is obtained in a...
Persistent link: https://www.econbiz.de/10003850276
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Turkey and the EU : politics and economics of accession
Flam, Harry - 2003
This paper discusses political and economic aspects of Turkish accession. Under present rules, Turkey would have the greatest number of council votes within twenty years, and receive the largest budget transfer. Free migration may increase the Turkish immigrant population in Germany from 2 to...
Persistent link: https://www.econbiz.de/10011506471
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Transparency, specialization and FDI
Razin, Asaf; Tsadḳah, Efrayim - 2004
We develop a simple information-based model of FDI flows. On the one hand, the relative abundance of intangible capital in specialized industries in the source countries, which presumably generates expertise in screening investment projects in the host countries, enhances FDI flows. On the other...
Persistent link: https://www.econbiz.de/10011402538
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Shedding light on the shadow economy : a global database and the interaction with the official one
Medina, Leandro; Schneider, Friedrich - 2019 - 2nd version
estimating the size of the shadow economy for 157 countries over 1991 to 2017. The results suggest that the OECD countries are by … far the lowest with values below 20% of off official GDP and the shadow economy is larger in Latin America and Sub ….9 %. What is really remarkable, that the average decline of the shadow economy from 1991 to 2017 is 6.8 percentage points. The …
Persistent link: https://www.econbiz.de/10012138830
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Rainy day politics : an instrumental variables approach to the effect of parties on political outcomes
Lind, Jo Thori - 2014
Rain affects electoral turnout both through a direct effect on the cost of voting and by changing the opportunity cost. In a panel of Norwegian municipalities I find that rain on Election Day increases turnout. As turnout affects electoral outcomes, rain provides an exogeneous source of...
Persistent link: https://www.econbiz.de/10010383810
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Populists in power
Dörr, Luisa; Potrafke, Niklas; Rösel, Felix - 2021
We examine how populist governments influence political culture and economic outcomes. Some Austrian communities are governed by far-right populist mayors, directly elected by a majority of voters. We exploit close elections and find that the electorate becomes more polarized under populist...
Persistent link: https://www.econbiz.de/10012628748
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Reactivity in economic science
Frey, Bruno S. - 2017
There is a fundamental difference between the natural and the social sciences due to reactivity. This difference remains even in the age of Artificially Intelligent Learning Machines and Big Data. Many academic economists take it as a matter of course that economics should become a natural...
Persistent link: https://www.econbiz.de/10011700543
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The renaissance of ordoliberalism in the 1970s and 1980s
Krieger, Tim; Nientiedt, Daniel - 2023
The economic tradition of ordoliberalism, understood as the theoretical and policy ideas of the Freiburg School, emerged in 1930s and 1940s Germany. In the years thereafter, it was quickly superseded by Keynesianism and other theories imported from the English-speaking world. The crisis in...
Persistent link: https://www.econbiz.de/10014304519
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The rate of return on everything, 1870-2015
Jordà, Òscar; Knoll, Katharina; Kuvshinov, Dmitry; … - 2018
the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much …
Persistent link: https://www.econbiz.de/10011794864