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The Austrian Theory of Business Cycles : Old Lessons for Modern Economic Policy?
Oppers, Stefan E. - 2002
This paper reviews the ""Austrian"" theory of the business cycle first proposed by Friedrich Hayek in the 1920s. His theory claimed that credit creation by monetary authorities would push investment beyond society''s long-term willingness to save, creating a mismatch between supply and demand...
Persistent link: https://www.econbiz.de/10014400055
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Modeling trade tensions : different mechanisms in general equilibrium
Hunt, Benjamin F.; Mursula, Susanna; Portillo, Rafael; … - 2020
In this paper, we investigate the mechanisms through which import tariffs impact the macroeconomy in two large scale workhorse models used for quantitative policy analysis: a computational general equilibrium (CGE) model (Purdue University GTAP model) and a multi-country dynamic stochastic...
Persistent link: https://www.econbiz.de/10012486064
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The African Continental Free Trade Agreement : welfare gains estimates from a general equilibrium model
Abrego, Lisandro E.; Amado, Maria Alejandra; Gursoy, Tunc; … - 2019
In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a...
Persistent link: https://www.econbiz.de/10012102028
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Trade wars and trade deals : estimated effects using a multi-sector model
Caceres, Carlos; Cerdeiro, Diego A.; Mano, Rui C. - 2019
This paper studies the potential long-term effects of three illustrative scenarios using a multi-sector computable general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates effects from potential U.S. auto tariffs. The second analyzes a 'transactional deal'...
Persistent link: https://www.econbiz.de/10012102091
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Do temporary business tax cuts matter? : a general equilibrium analysis
Gbohoui, William - 2019
This paper develops a dynamic general equilibrium model to assess the effects of temporary business tax cuts. First, the analysis extends the Ricardian equivalence result to an environment with production and establishes that a temporary tax cut financed by a future tax-increase has no real...
Persistent link: https://www.econbiz.de/10012009276
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Has COVID-19 induced labor market mismatch? : evidence from the US and the UK
Pizzinelli, Carlo; Shibata, Ippei - 2022
This paper studies whether labor market mismatch played an important role for labor market dynamics during the COVID-19 pandemic. We apply the framework of Sahin and others (2014) to the US and the UK to measure misallocation between job seekers and vacancies across sectors until the third...
Persistent link: https://www.econbiz.de/10013170581
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Mitigating long-term unemployment in Europe
Miyamoto, Hiroaki; Suphaphiphat, Nujin - 2020
, labor market matching efficiency, and labor market policies are associated with the incidence of long-term unemployment …
Persistent link: https://www.econbiz.de/10012301932
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Labor Market Pooling
De Blasio, Guido - 2002
The paper provides an empirical investigation of labor market pooling. The analysis concentrates on Italian industrial districts and shows that there is scattered evidence of a widespread wage premium. In particular, there is no evidence of district differentials for the returns to seniority...
Persistent link: https://www.econbiz.de/10014399936
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On-The-Job Search and the Beveridge Curve
Fuentes, Andrés - 2002
parameters of the matching model, regardless of the assumptions made on the relative search effectiveness of employed and …This paper presents a theoretical and empirical investigation of the role on-the-job search plays in explaining shifts … unemployment effects. We find evidence that the rise in on-the-job search in the 1980s has shifted the Beveridge Curve outwards …
Persistent link: https://www.econbiz.de/10014401815
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The dynamic implications of debt relief for low-income countries
Romero-Barrutieta, Alma Lucía - 2011
Persistent link: https://www.econbiz.de/10009424818