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Market Economics (edited by Avi Ben-Bassat), was published in 2002. While each book considers the Israeli economy at a …This paper reviews six English-language books on the economy of Israel. Each book was written or edited by Israelis …, and each is from a different decade. The earliest book, Don Patinkin%u2019s The Israel Economy: The First Decade, was …
Persistent link: https://www.econbiz.de/10013220090
Herbert Hoover. I develop a theory of labor market failure for the Depression based on Hoover's industrial labor program that provided industry with protection from unions in return for keeping nominal wages fixed. I find that the theory accounts for much of the depth of the Depression and for...
Persistent link: https://www.econbiz.de/10013151056
The economic and financial crisis has hit Spain harder than practically any other country in Europe. Even if there are … occasional reports that the Spanish economy is improving slightly, the unemployment rate remains at 25 per cent and is as high as … 54 per cent among Spain's young people. The data presented in this article, which were obtained via a representative …
Persistent link: https://www.econbiz.de/10010426090
growth or contraction of the economy. What mattered was not simply growth at the time of the election but cumulative growth …
Persistent link: https://www.econbiz.de/10013110236
Persistent link: https://www.econbiz.de/10011550580
Does the historical macroeconomic environment affect preferences for redistribution? We find that individuals who experienced a recession when young believe that success in life depends more on luck than effort, support more government redistribution, and tend to vote for left-wing parties. The...
Persistent link: https://www.econbiz.de/10013156536
This paper shows that the Russian 1998 crisis had a big impact on capital flows to Emerging Market Economies, EMs, especially in Latin America, and that the impact of the Russian shock differs quite markedly across EMs. To illustrate this statement, we compare the polar cases of Chile and...
Persistent link: https://www.econbiz.de/10013222318
There are some striking similarities between the pre 1914 gold standard and EMU today. Both arrangements are based on fixed exchange rates, monetary and fiscal orthodoxy. Each regime gave easy access by financially underdeveloped peripheral countries to capital from the core countries. But the...
Persistent link: https://www.econbiz.de/10013080834
Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...
Persistent link: https://www.econbiz.de/10013130972
This paper begins by identifying the distinguishing characteristic of the "real business cycle" (RBC) class of macroeconomic models. It then scruitinizes existing evidence, presented in support of the RBC approach, of three types: calibrated general equilibrium models with no monetary sector,...
Persistent link: https://www.econbiz.de/10013324156