Similar Search Results

When do we repair the roof? : insights from responses to fiscal crisis early warning signals

Honda, Jiro; Tapsoba, René; Issifou, Ismael - 2018

Should policymakers wait for fiscal crisis early warning signals before repairing the roof? We give an answer to this question by investigating the interlinkages between early warning signals for fiscal crisis, policy responses, and policy outcomes, using a broad panel of 119 countries. We find...

Persistent link: https://www.econbiz.de/10011848256

Market Information and Signaling in Central Bank Operations, Or, How often Should a Central Bank Intervene?

International Monetary Fund - 1997

A central bank must decide on the frequency with which it will conduct open market operations and the variability in short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining an immediate target and broadcasting the central...

Persistent link: https://www.econbiz.de/10014400555

Policy Reform, Adjustment Costs, and Investment- with Activity of Local Investors As a Signal

Johnson, Omotunde E. G. - 1997

Adjustment assistance is provided to local investors responding to policy reform and facing adjustment costs, to facilitate their activity–a signal to foreign investors about the profitability of investing in the local economy. The government, in providing assistance, maximizes its utility...

Persistent link: https://www.econbiz.de/10014400808

Signaling Fiscal Regime Sustainability

Prati, Alessandro - 1999

This paper proposes a signaling model that offers a new perspective on why governments deviate from optimal tax smoothing and delay debt stabilization. In our model, dependable—but not fully credible—governments have an incentive to tighten the fiscal regime when the signaling effect on...

Persistent link: https://www.econbiz.de/10014400094

Bank Capitalization As a Signal

Hardy, Daniel C. - 2012

The level of a bank‘s capitalization can effectively transmit information about its riskiness and therefore support market discipline, but asymmetry information may induce exaggerated or distortionary behavior: banks may vie with one another to signal confidence in their prospects by keeping...

Persistent link: https://www.econbiz.de/10014396615

The macroeconomic impact of social unrest

Hadzi-Vaskov, Metodij; Pienknagura, Samuel; Ricci, Luca … - 2021

adverse growth trajectories prior to unrest events or by fiscal consolidations, and are robust to instrumenting via regional …

Persistent link: https://www.econbiz.de/10012613425

The macroeconomic costs of conflict

Novta, Natalija; Pugacheva, Evgenia - 2020

Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after conflict onset. This is overwhelmingly driven by private consumption, which falls by 25 percent ten years after conflict onset. Conflict is also associated with dramatic declines...

Persistent link: https://www.econbiz.de/10012252077

Inequality of opportunity, inequality of income and economic growth

Aiyar, Shekhar; Ebeke, Christian - 2019

We posit that the relationship between income inequality and economic growth is mediated by the level of equality of … future growth disproportionately. We use several recently developed internationally comparable measures of intergenerational … mobility to confirm that the negative impact of income inequality on growth is higher the lower is intergenerational mobility …

Persistent link: https://www.econbiz.de/10012009340

The return of the policy that shall not be named : principles of industrial policy

Chérif, Réda; Hasanov, Fuad - 2019

story that many ignore or claim it cannot be replicated. Using a theory and empirical evidence, we argue that one can learn …

Persistent link: https://www.econbiz.de/10012010001

Macroeconomic policy, product market competition, and growth : the intangible investment channel

Ahn, JaeBin; Duval, Romain; Sever, Can - 2020

unclear. One candidate is intangible capital - a rising driver of economic growth that, being non-pledgeable as collateral, is … policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self …

Persistent link: https://www.econbiz.de/10012170156

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