Showing 1 - 10 of 1,851
The paper discusses the case against a laissez faire approach to resource allocation and develops a model of supply …
Persistent link: https://www.econbiz.de/10014398709
We examine the effect of size-dependent policies in developing economies by focusing on a set of regulations that are applicable to firms with 20 or more formal employees in Peru. Firms can adjust to the regulations by (a) reducing their size, (b) shifting employment composition, or (c)...
Persistent link: https://www.econbiz.de/10011905879
productivity gains. Guided by theory, we provide evidence consistent with these effects operating through reallocations across …
Persistent link: https://www.econbiz.de/10012301837
Can a government reduce income inequality by changing the composition of public spending while keeping the total level of expenditure fixed? Using newly assembled data on spending composition for 83 countries across all income groups, this paper shows that reallocating spending toward social...
Persistent link: https://www.econbiz.de/10012103675
the impact and determinants of sectoral changes and of the degree of dualism (or allocation inefficiency) in a dual …
Persistent link: https://www.econbiz.de/10014399960
This paper employs a dynamic multi-country framework to analyze the international macroeconomic transmission of El Niño weather shocks. This framework comprises 21 country/region-specific models, estimated over the period 1979Q2 to 2013Q1, and accounts for not only direct exposures of countries...
Persistent link: https://www.econbiz.de/10014412120
We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the following three key assumptions. First, sovereign debt is held by domestic agents...
Persistent link: https://www.econbiz.de/10014394378
If monetary policy is to aim also at financial stability, how would it change? To analyze this question, this paper develops a general-form framework. Financial stability objectives are shown to make monetary policy more aggressive: in reaction to negative shocks, cuts are deeper but...
Persistent link: https://www.econbiz.de/10014395272
A dynamic stochastic equilibrium model of a small open economy is used to quantify the macroeconomic effects of introducing capital controls to stabilize the balance of trade. This model focuses on the role of international trade and foreign debt as instruments that help smooth consumption in...
Persistent link: https://www.econbiz.de/10014395847
This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European...
Persistent link: https://www.econbiz.de/10014396054