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-have a significant impact on the level of real interest rates in Turkey. Importantly, fiscal policy variables are shown to …
Persistent link: https://www.econbiz.de/10012677682
How will the world-wide decline in real interest rates associated with global aging affect small open economies (SOEs) with aging populations? Lower interest rates will result in higher capital-labor ratios and increased wages; higher wages, in turn, will be passed on to pension benefits,...
Persistent link: https://www.econbiz.de/10012677583
Intro -- Contents -- I. INTRODUCTION -- II. SOME HISTORICAL PERSPECTIVE -- III. SIMPLE ANALYTICS OF GLOBAL INTEREST RATE DETERMINATION -- IV. AN ASSET-PRICING PERSPECTIVE -- V. ECONOMETRIC EVIDENCE -- VI. CONCLUSIONS -- APPENDIX I. THEORETICAL FRAMEWORK -- REFERENCES.
Persistent link: https://www.econbiz.de/10012691062
Persistent link: https://www.econbiz.de/10012691184
-have a significant impact on the level of real interest rates in Turkey. Importantly, fiscal policy variables are shown to … Turkey. …
Persistent link: https://www.econbiz.de/10005248241
energy/environmental tax systems in Germany, Sweden, Turkey, and Vietnam suggests that there is substantial scope for policy … Reforms: The Case of Germany, Sweden, Turkey, and Vietnam -- A. Comparing Energy Systems in Sweden, Germany, Turkey, and … Energy under the Value-Added Tax System -- 5. Environmental Tax Reforms in Sweden, Germany, Turkey, and Vietnam -- References. …
Persistent link: https://www.econbiz.de/10012684557
This paper discusses potential elements of a comprehensive strategy for making headway on Türkiye's net zero emissions pedge for 2053. These elements include: (i) aligning 2030 emissions commitments with long term neutrality; (ii) implementing a carbon price rising to an ilustrative $75 per...
Persistent link: https://www.econbiz.de/10015059497
The analysis in this paper suggests that the large fiscal deficits that Pakistan has experienced over most of the period since 1970 led to some crowding out of private investment, resulting in slower output growth than would otherwise have been observed. Past fiscal deficits have also resulted...
Persistent link: https://www.econbiz.de/10005248177
Standard theory shows that sterilized foreign exchange interventions do not affect equilibrium prices and quantities, and that domestic and foreign currency denominated bonds are perfect substitutes. This paper shows that when fiscal policy is not sufficiently flexible in response to spending...
Persistent link: https://www.econbiz.de/10005248240
This paper extends a small linear model of the Israeli economy to allow for nonlinearities in the inflation-output process that arise from convexity in the Phillips curve and endogenous monetary policy credibility. We find that the dynamic responses to shocks in the extended model more closely...
Persistent link: https://www.econbiz.de/10005248242