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A simple model of a central bank digital currency
Mishra, Bineet; Prasad, Eswar S. - 2023
We develop a general equilibrium model that highlights the trade-offs between physical and digital forms of retail central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014280913
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Committee decision-making under the threat of leaks
Fehrler, Sebastian; Hahn, Volker - 2020
Leaks are pervasive in politics. Hence, many committees that nominally operate under secrecy de facto operate under the threat that information might be passed on to outsiders. We study theoretically and experimentally how this possibility affects the behavior of committee members and the...
Persistent link: https://www.econbiz.de/10012295187
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On monetary and non-monetary interventions to combat corruption
Banerjee, Ritwik; Mitra, Arnab - 2017
-monetary disincentives to corruption. In doing so, we also test the Beckarian prediction that at the same level of expected payoff, a low … probability of detection with high penalty is a stronger deterrent to corruption than a high probability of detection with low …
Persistent link: https://www.econbiz.de/10011625352
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Optimal price indices for targeting inflation under incomplete markets
Anand, Rahul; Prasad, Eswar S. - 2010
In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...
Persistent link: https://www.econbiz.de/10008810538
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What measure of inflation should a developing country central bank target?
Anand, Rahul; Prasad, Eswar S.; Zhang, Boyang - 2015
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...
Persistent link: https://www.econbiz.de/10011307888
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Engaging in corruption : the influence of cultural values and contagion effects at the micro level
Lee, Wang-Sheng; Guven, Cahit - 2013
Previous empirical work on corruption has generally been cross-country in nature and focused on utilizing country …-level corruption ratings. By using micro-level data for over 20 European countries that directly measure individual characteristics …, corruption experiences, gender roles, trust and values to examine the determinants of corruption, this paper goes beyond the …
Persistent link: https://www.econbiz.de/10010201267
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Whistle-blower protection : theory and experimental evidence
Mechtenberg, Lydia; Mühlheußer, Gerd; Roider, Andreas - 2017
issues in a theory-guided lab experiment. Easily attainable ("belief-based") protection indeed leads to more reports, both …
Persistent link: https://www.econbiz.de/10011625350
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Illicit shadows : an economic analysis of trade gaps in cultural goods through the Italian market
Acciai, Elia; Belloni, Michele; Della Giusta, Marina; … - 2023
corruption and adoption of protective legislation (UNESCO and UNIDROIT) and discuss results indicating further questions to be …
Persistent link: https://www.econbiz.de/10014311203
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An anatomy of the Phillips curve
Snower, Dennis J.; Karanassou, Marika - 2002
The paper examines how the long-run inflation-unemployment tradeoff depends on the degree to which wage-price decisions are backward- versus forward-looking. When economic agents, facing time-contingent, staggered nominal contracts, have a positive rate of time preference, the current wage and...
Persistent link: https://www.econbiz.de/10011414891
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002
these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …
Persistent link: https://www.econbiz.de/10011414902