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Institutional Quality and International Trade

Levchenko, Andrei A. - 2004

The quality of institutions-meaning the quality of contract enforcement, property rights, shareholder protection, and …. Institutional differences are modeled within the Grossman-Hart-Moore framework of contract incompleteness. It is shown, among other …

Persistent link: https://www.econbiz.de/10014403908

Stabilization Dynamics and Backward-Looking Contracts

Végh Gramont, Carlos A. - 1993

Exchange rate-based stabilizations often result in an initial output expansion. One explanation for this phenomenon has been that, in the presence of inflation inertia, a reduction in the nominal interest rate causes the domestic real interest rate to fall, thus increasing aggregate demand. This...

Persistent link: https://www.econbiz.de/10014398585

Privatization and Restructuring : An Incomplete-Contract Approach

Bös, Dieter - 1996

-sided restructuring, however, the first best cannot be reached if both parties engage in restructuring after signing the contract …

Persistent link: https://www.econbiz.de/10014398112

Wage Contracts, Capital Mobility, and Macroeconomic Policy

Agénor, Pierre-Richard - 1995

This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, three-good optimizing model with imperfect capital mobility, nominal wage contracts...