Showing 1 - 10 of 15
monetary overinvestment theories of Hayek and Mises. We argue that ultra-loose monetary policies create incentives to …
Persistent link: https://www.econbiz.de/10011428355
The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek … zero and a gradual expansion of central bank balance sheets. From a Hayek-Mises-Wicksell perspective asymmetric central …
Persistent link: https://www.econbiz.de/10011561161
In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...
Persistent link: https://www.econbiz.de/10012124862
Based on the concepts of justice by Hayek, Rawls and Buchanan we argue that the growing political dissatisfaction in …
Persistent link: https://www.econbiz.de/10011750133
The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is …
Persistent link: https://www.econbiz.de/10011619626
Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade...
Persistent link: https://www.econbiz.de/10010361425
Markets are ubiquitous in our daily life and, despite many imperfections, they are a great source of human welfare …. Nevertheless, there is a heated recent debate on whether markets erode social responsibility and moral behavior. In fact …, competitive pressure on markets may create strong incentives for unethical practices (like using child labor) to increase …
Persistent link: https://www.econbiz.de/10011515418
Societies prohibit many transactions considered morally repugnant, although potentially efficiency-enhancing. We conducted an online choice experiment to characterize preferences for the morality and efficiency of payments to kidney donors. Preferences were heterogeneous, ranging from...
Persistent link: https://www.econbiz.de/10011539004
In the nineties, average firm size decreased, organisations decentralized, and workers preferences shifted from large to small firms. Our model identifies the economic forces behind this trend. Small firms with little capital at risk are subject to risk-shifting. They realize more of their...
Persistent link: https://www.econbiz.de/10011539048
Are competitive mechanisms perceived as just sources of economic inequality? Perceptions of fairness violations can have severe economic consequences, as they may cause counterproductive behavior such as rulebook slowdowns or quality shading. To analyze fairness perceptions associated with...
Persistent link: https://www.econbiz.de/10011405188