Showing 1 - 10 of 22
This paper combines new data and a narrative approach to identify shocks to political pressure on the Federal Reserve. From archival records, I build a data set of personal interactions between U.S. Presidents and Fed officials between 1933 and 2016. Since personal interactions do not...
Persistent link: https://www.econbiz.de/10014544739
Persistent link: https://www.econbiz.de/10013477485
This paper investigates a unique policy designed to maintain employment during the privatization of East German firms …
Persistent link: https://www.econbiz.de/10014337877
SOE jobs, leading them to select into the SOE sector in the pre SOE reform era. When the SOE sector was downsized, some …
Persistent link: https://www.econbiz.de/10014372457
Privatization of a public good (the management of sewage treatment centers in Dakar, Senegal) leads to an increase in … dumping increased substantially following privatization-on average an increase of 61.7%, or an increase of about 14,000 cubic … following privatization, and DHS data show that diarrhea rates among children under five decreased in Dakar relative to …
Persistent link: https://www.econbiz.de/10012629515
Infrastructure assets have undergone substantial privatization in recent decades. How do different types of owners … rather than operational changes. Overall, we find little evidence that privatization alone increases airport performance …; instead, infrastructure funds improve performance both in privatization and subsequent acquisitions from non-PE private firms …
Persistent link: https://www.econbiz.de/10013435106
Privatization has been shown to increase growth and profitability of public firms. However, effects on consumers are … we interpret as a decline in access to care. Hospital privatization therefore partially offsets the benefits of providing …
Persistent link: https://www.econbiz.de/10013537718
This paper studies the macroeconomic effects of energy price shocks in energy-importing economies using a heterogeneous-agent New Keynesian model. When MPCs are realistically large and the elasticity of substitution between energy and domestic goods is realistically low, increases in energy...
Persistent link: https://www.econbiz.de/10014337777
As a result of the BoJ's large-scale asset purchases, the consolidated Japanese government borrows mostly at the floating rate from households and invests in longer-duration risky assets to earn an extra 3% of GDP. We quantify the impact of Japan's low-rate policies on its government and...
Persistent link: https://www.econbiz.de/10014436981
We study a new type of monetary-fiscal interaction in a heterogeneous-agent New Keynesian model with a fiscal block. Due to household heterogeneity, the stock of public debt affects the natural interest rate, forcing the central bank to adapt its monetary policy rule to the fiscal stance to...
Persistent link: https://www.econbiz.de/10014512073