Showing 1 - 10 of 39
I provide a theoretically-guided discussion of the dynamics of human behavior, focusing on the importance of culture (socially-learned information) and tradition (transmission of culture across generations). Decision-making that relies on tradition can be an effective strategy and arises in...
Persistent link: https://www.econbiz.de/10012938773
The paper provides an integrated analysis of globalization effects on the inflation-output tradeoff and monetary policy in the New-Keynesian framework. The prediction of the analysis is threefold. First, labor, goods, and capital mobility flatten the Phillips curve, the tradeoff between...
Persistent link: https://www.econbiz.de/10012464268
We present a theory of ethnic conflict in which coalitions formed along ethnic lines compete for the economy …'s resources. The role of ethnicity is to enforce coalition membership: in ethnically homogeneous societies members of the losing … coalition can defect to the winners at low cost, and this rules out conflict as an equilibrium outcome. We derive a number of …
Persistent link: https://www.econbiz.de/10012466544
We study a flexible dynamic savings game in continuous time, where decision makers rotate in and out of power. These agents value spending more highly while in power creating a time-inconsistency problem. We provide a sharp characterization of Markov equilibria. Our analysis proceeds by...
Persistent link: https://www.econbiz.de/10012456666
conflict when defense capability is fixed, but may allow for security and prosperity when defense capability is endogenous … of conflict and stagnation. We illustrate the model by analyzing the rise of civilization in Sumeria and Egypt, the first …
Persistent link: https://www.econbiz.de/10012456842
We propose a model of cycles of distrust and conflict. Overlapping generations of agents from two groups sequentially … a sequence of bad actions originated. Assuming that both sides are not extremists, spirals of distrust and conflict get … this mechanism can be useful in interpreting cycles of ethnic conflict and international war, and how it also emerges in …
Persistent link: https://www.econbiz.de/10012460403
matches recent empirical evidence. Introducing the recent creditor-conflict trend in this model endogenously increases secured …
Persistent link: https://www.econbiz.de/10015056182
Persistent link: https://www.econbiz.de/10003310513
ethnicity in college attendance. When the returns to college education rose, college enrollment of whites responded much more … college students that account for the differential response by race and ethnicity to the new labor market for skilled labor …
Persistent link: https://www.econbiz.de/10012471541
We examine the distribution of household consumption, income and savings from 2019 through the end of 2020 using the Consumer Expenditure Survey (CE) and other data. This is the first work to study the impact of the COVID-19 pandemic on economic well-being using nationally representative...
Persistent link: https://www.econbiz.de/10013172177