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In this paper three possible reasons are examined for a sluggish inflation response to a hard currency peg. Models of overlapping wage contracts are analyzed and shown to generate little inertia. This contrasts with the effects of government credibility and the speed of private sector learning,...
Persistent link: https://www.econbiz.de/10014396293
This paper explains why sovereign issuers of reserve currencies do not use unexpected inflation to repudiate their foreign liabilities. Monetary restraint is exercised because of the fear that reserve users will switch to other currencies if an attempt is made to raise “excessive” revenue....
Persistent link: https://www.econbiz.de/10014396294
Consensus forecasts are inefficient, over-weighting older information already in the public domain at the expense of … new private information, when individual forecasters have different information sets. Using a cross-country panel of … discusses the result’s implications for users of forecaster surveys and for the literature on information aggregation …
Persistent link: https://www.econbiz.de/10014399212
information (data collection and processing) and communication (relationships and distribution). Both follow historic trends … towards an increased use of hard information and less in-person interaction, which are accelerating rapidly. We point to more …
Persistent link: https://www.econbiz.de/10012300645
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and recomends the use of revenue-neutral feebate schemes in industry, transportation, buildings, and agriculture. For …
Persistent link: https://www.econbiz.de/10012796806
schemes to strengthen mitigation incentives for the transportation, industry, building, forestry, and agricultural sectors …
Persistent link: https://www.econbiz.de/10012610730
Persistent link: https://www.econbiz.de/10012392500
It is obvious that holding city population constant, differences in cities across the world are enormous. Urban giants in poor countries are not large using measures such as land area, interior space or value of output. These differences are easily reconciled mathematically as population is the...
Persistent link: https://www.econbiz.de/10012103748
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