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Populism, political risk and the economy : lessons from Italy
Balduzzi, Pierluigi; Brancati, Emanuele; Brianti, Marco; … - 2020
that have implications for budgetary policy, debt sustainability and for Euro membership. We use changes in the Credit …
Persistent link: https://www.econbiz.de/10012163613
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Does policy advocacy generate good PR? : evidence from labor unions and minimum wages
Clemens, Jeffrey; Strain, Michael R. - 2023
We develop new facts relating news coverage, interest groups, and events in the legislative histories of minimum wage increases. First, we create and validate a database of news articles that includes coverage of minimum wages and organized labor. Second, we show that policy changes predict...
Persistent link: https://www.econbiz.de/10014246773
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Why do labor unions advocate for minimum wage increases?
Clemens, Jeffrey; Strain, Michael R. - 2023
Over the past decade, organized labor has played a significant role in advocating for minimum wage increases. Why might this be, given that the minimum wage may act as a substitute for the bargaining power offered by labor unions? In this paper, we study the interplay between minimum wages and...
Persistent link: https://www.econbiz.de/10014249948
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The minimum wage and union membership among minimum wage workers : why do unions advocate for minimum wage increases?
Clemens, Jeffrey; Strain, Michael R. - 2022
Over the past decade, organized labor has played a significant role in advocating for minimum wage increases. In this paper, we investigate the effects of minimum wage increases on union membership among individuals in minimum wage intensive industries. Consistent with a "freeriding" hypothesis,...
Persistent link: https://www.econbiz.de/10013448184
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Wage rigidity or fiscal redistribution? : The unemployment bias of time consistent redistributive policies
Lehmann, Etienne (contributor) - 2006
Because of Time Inconsistency considerations, policymakers underestimate the drawbacks of wage rigidity as a redistributive tool. Consequently, they redistribute inefficiently income from high to low skilled workers. They typically implement too much wage rigidity whereas other means (in...
Persistent link: https://www.econbiz.de/10003316484
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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
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Fiscal policy, sovereign default, and bailouts
Jüßen, Falko; Schabert, Andreas - 2013
relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to … close-to-default states. These bailouts can lead to an increase in the mean debt price and a lower default probability that … public debt never decreases in the long-run when bailout loans are available. …
Persistent link: https://www.econbiz.de/10010225902
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Government debt as insurance against macroeconomic risk
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2001
Is there a role for debt beyond curing overaccumulation of capital? Does dynamic efficiency and the infeasibility of … debt Ponzi schemes eliminate any Pareto-improving role for a government in a competitive economy with complete markets? Is … there an optimal maturity structure of public debt? Using a stochastic Diamond OLG model, we tackle these questions. We show …
Persistent link: https://www.econbiz.de/10011405711
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Reported MPC in the presence of debt
Sala, Hector; Trivín, Pedro - 2021
We use information from the last wave of the Spanish Survey of Households Finance to study the influence of debt on the … smaller MPC than non-indebted households. This negative association increases along with the amount of debt. We also find a …
Persistent link: https://www.econbiz.de/10012491604
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The role of demographics in precipitating crises in financial institutions
Macunovich, Diane J. - 2009
There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...
Persistent link: https://www.econbiz.de/10003900319