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Preferences for reforms : endowments vs. beliefs

Duval, Romain; Ji, Yi; Papageorgiou, Chris; Shibata, Ippei - 2022

Are preferences for reforms driven by individuals' own endowments or beliefs? To address this question, we conducted a cross-country survey on people's opinions on employment protection legislation-an area where reform has proven to be difficult and personal interests are at stake. We find that...

Persistent link: https://www.econbiz.de/10013170248

Austerity and elections

Alesina, Alberto; Ciminelli, Gabriele; Furceri, Davide; … - 2021

Conventional wisdom holds that voters punish governments that implement fiscal austerity. Yet, most empirical studies, which rely on ex-post yearly austerity measures, do not find supportive evidence. This paper revisits the issue using action-based, real-time, ex-ante measures of fiscal...

Persistent link: https://www.econbiz.de/10012613677

Fiscal consequences of terrorism

Cevik, Serhan; Ricco, John - 2015

This paper provides an empirical analysis of how the frequency and severity of terrorism affect government revenue and … expenditure during the period 1970-2013 using a panel dataset on 153 countries. We find that terrorism has only a marginal … robust to alternative specifications and empirical strategies. On the other hand, we find strong evidence that terrorism is …

Persistent link: https://www.econbiz.de/10011408259

Fiscal Consequences of Armed Conflict and Terrorism in Low- and Middle-Income Countries

Clements, Benedict J. - 2002

This paper analyses the fiscal effects of armed conflict and terrorism on low- and middle-income countries. An analysis … estimates are consistent with the hypothesis that conflict and terrorism have a significant negative impact on growth through … conflict and terrorism …

Persistent link: https://www.econbiz.de/10014400047

VAT Attacks!

Keen, Michael - 2007

Like the theory of the second best that the 2006 congress marks, the VAT is now fifty years old. Judged by the extent and speed of its spread around the world, and the revenue that it raises, the VAT would seem to have been a remarkable success. Over the last few years, however, it has come...

Persistent link: https://www.econbiz.de/10014401162

Inflation and conflict in Iraq : the economics of shortages revisited

Grigorian, David A.; Kock, Udo - 2010

Containing inflation has turned out to be one of the most challenging aspects of economic management in Iraq. This paper posits that conventional as well as unconventional factors explain inflation dynamics in the recent past. We build a theoretical model based on the insights into the workings...

Persistent link: https://www.econbiz.de/10014402642

Asset Price Bubbles : A Selective Survey

Scherbina, Anna - 2013

Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard rational models, the new literature is able to model...

Persistent link: https://www.econbiz.de/10014395388

Asset price bubbles : a selective survey

Scherbina, Anna - 2013

Persistent link: https://www.econbiz.de/10009726553

Structural unemployment in Luxembourg : bad luck or rational choice?

Gbohoui, William - 2019

This paper combines both micro and macro approaches to identify the drivers of (un)employment and inactivity in Luxembourg. The young, low-skilled, and non-EU migrants are found to be the most vulnerable groups in the labor market. In addition to skills mismatches, work disincentives embedded in...

Persistent link: https://www.econbiz.de/10012154712

Optimal Prudential Regulation of Banks and the Political Economy of Supervision

Tressel, Thierry - 2014

We consider a moral hazard economy in banks and production to study how incentives for risk taking are affected by the quality of supervision. We show that low interest rates may generate excessive risk taking. Because of a pecuniary externality, the market equilibrium may not be optimal and...

Persistent link: https://www.econbiz.de/10014411326