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The Real Exchange Rate, Mercantilism and the Learning by Doing Externality
Aizenman, Joshua - 2008
This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...
Persistent link: https://www.econbiz.de/10012464794
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Externalities, Incentives and Failure to Achieve National Objectives in Decentralized Economies
Aizenman, Joshua - 1991
presence of externalities. The paper employs a two-period, open economy framework in which the central government allocates its … externalities. This is not only because debt relief that expands the availability of current resources has positive direct income …
Persistent link: https://www.econbiz.de/10012475365
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Externalities, Incentives, and Economic Reforms
Aizenman, Joshua - 1990
The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple …
Persistent link: https://www.econbiz.de/10012475638
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The Competitive Externalities and the Optimal Seignorage
Aizenman, Joshua - 1989
positively on the competitive externality. We provide two examples of scenarios where these externalities are relevant. First … and local governments can use seigniorage to their advantage. The effect of competitive externalities is to increase the …
Persistent link: https://www.econbiz.de/10012476116