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We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011309046
The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...
Persistent link: https://www.econbiz.de/10009306325
Theory suggests that groups historically subject to discrimination, such as Jews, could exhibit traditionally high investment in education because discrimination spurred exit facilitated by human capital. Theory moreover suggests that if exit is uncertain, it could induce investment in skill...
Persistent link: https://www.econbiz.de/10011985775
-run imprisonment rate for five English-speaking nations: Australia, Canada, England and Wales, New Zealand and the United States. These …. In the late-nineteenth century, Australia had the highest incarceration rate of these nations. Today, the United States … has the highest rate. With the exception of Canada, incarceration rates have risen markedly since the mid-1980s. These new …
Persistent link: https://www.econbiz.de/10012180431
Persistent link: https://www.econbiz.de/10001776070
Persistent link: https://www.econbiz.de/10002000815
population of immigrant pupils: Australia, Canada, France, Germany, the Netherlands, New Zealand, Sweden, Switzerland, the UK and …
Persistent link: https://www.econbiz.de/10002485607
that have relatively similar backgrounds and tax systems: Australia, Canada, New Zealand, the UK, and the US. The first … ; taxation ; Australia ; Canada ; New Zealand ; United Kingdom ; United States …
Persistent link: https://www.econbiz.de/10003962818
of this paper is to examine educational inequalities among immigrants in eight high immigration countries: Australia …, Canada, Germany, New Zealand, Sweden, Switzerland, UK and USA. Results indicate that for almost all countries immigrants …
Persistent link: https://www.econbiz.de/10003652710
days per week rose more than three-fold in the U.S and by a factor of five or more in Australia, Canada, New Zealand and …
Persistent link: https://www.econbiz.de/10014229411