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Structure versus Agency in the Great Deprivation of 21st Century
Naqvi, Nadeem - Volkswirtschaftliche Fakultät, … - 2009
Agency-based explanations of the great deprivation, contrasted with structure-based explanations, suffer not merely from the criticism of relying on irrational and irresponsible behavior of millions, including that of the most astute financial experts, but are also at a loss to explain why such...
Persistent link: https://www.econbiz.de/10005619598
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Income Distribution and Macroeconomics
Galor, Oded; Zeira, Joseph - Volkswirtschaftliche Fakultät, … - 1988
This paper analyzes the role of income distribution in macroeconomic analysis. The study demonstrates that the long-run equilibrium depends on the initial distribution of income. In accordance with empirical evidence concerning the correlation between income distribution and output, an economy...
Persistent link: https://www.econbiz.de/10011109703
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Pareto Distributions and the Evolution of Top Incomes in the U.S.
Aoki, Shuhei; Nirei, Makoto - Volkswirtschaftliche Fakultät, … - 2013
This paper presents a dynamic general equilibrium model with heterogeneous firms and entrepreneur's portfolio choice. We analytically show that this model generates the Pareto distribution of top income earners and Zipf's law of firms at the steady state. The differential equation for the...
Persistent link: https://www.econbiz.de/10011111065
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The Profit Theory is False Since Adam Smith. What About the True Distribution Theory?
Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2014
All popular schools lack a consistent profit theory. Economists have no true conception of the most important phenomenon in their universe. This methodological defect persists since Adam Smith. Therefore, the theories of income and wealth distribution are wrong by logical implication. If the...
Persistent link: https://www.econbiz.de/10011111106
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Capital Inflows, Credit Booms and Their Risks
Reinhart, Carmen - Volkswirtschaftliche Fakultät, … - 2012
This paper highlights the findings of some of the recent research on capital flows, credit booms, and their attendant …
Persistent link: https://www.econbiz.de/10011108104
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The Great Depression and the Great Recession: A Comparative Analysis of their Analogies
Peicuti, Cristina - Volkswirtschaftliche Fakultät, … - 2014
The decades preceding the Great Depression and the U.S. subprime mortgage crisis have close similarities. Both decades were characterized by rapid growth without major contractions, by an increase in liquidity, a lack of inflation, and a generalized decrease in risk premiums. Additional...
Persistent link: https://www.econbiz.de/10011110198
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Interest rates close to zero, post-crisis restructuring and natural interest rate
Cizkowicz, Piotr; Rzonca, Andrzej - Volkswirtschaftliche Fakultät, … - 2011
impede that process and facilitate forbearance lending, which crowds viable economic agents out of credit through a number of …
Persistent link: https://www.econbiz.de/10009651410
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An Assessment of the Credit Channel in Brazil
Souza-Sobrinho, Nelson - Volkswirtschaftliche Fakultät, … - 2003
analysis and formal econometric tests based on several indicators of the credit market. First of all, the descriptive analysis … shows that the main relationship between credit indicators, monetary policy and economic activity are in line with the … predictions of the credit channel theory. Additionally, it highlights the fact that bank loans in Brazil are predominantly short …
Persistent link: https://www.econbiz.de/10005837282
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Credit Monitoring in the USA and EU Countries
Kadish, Peter - Volkswirtschaftliche Fakultät, … - 2010
in mid 70s and late 80s (USA 2007), namely Japan, is performed. The definition and role of money in the economy in its … various forms from narrow to the most broad credit aggregates and interrelations between central bank policy and growth of … credit is discussed. …
Persistent link: https://www.econbiz.de/10008532167
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An Outline of the Existing Literature on Monetary Economics in India
Das, Rituparna - Volkswirtschaftliche Fakultät, … - 2010
As per the researchers on monetary economics, a detailed account of the changing role of money from Walrasian and Non-Walrasian settings to the more recent theories on the dynamics of the relationships between money, inflation and growth with reference to their historical evolution are available...
Persistent link: https://www.econbiz.de/10008533251