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Seasonal adjustment procedures attempt to estimate the sample realizations of an unobservable economic time series in the presence of both seasonal factors and irregular factors. In this paper we consider a factor which has not been considered explicitly in previous treatments of seasonal...
Persistent link: https://www.econbiz.de/10013248433
government has time-inconsistent preferences with a present-bias towards public spending. The government chooses a fiscal rule to …
Persistent link: https://www.econbiz.de/10013097776
uncoordinated rules. If governments' present bias is small, coordinated rules are tighter than uncoordinated rules: individual … countries do not internalize the redistributive effect of interest rates. However, if the bias is large, coordinated rules are …
Persistent link: https://www.econbiz.de/10013017068
overweights increases in taste-adjusted prices, leading to what we term a “taste-shock bias.” We show that this bias generalizes …
Persistent link: https://www.econbiz.de/10012985591
efficient policies regardless of the distribution of bargaining power among them. This paper uses a laboratory experiment to …
Persistent link: https://www.econbiz.de/10013057824
This paper reports the results from a laboratory experiment designed to study political distortions in the accumulation …
Persistent link: https://www.econbiz.de/10012986701
Some public goods are provided entirely with private contributions, others with a mixture of public and private funding, and still others are entirely publicly funded. To explain this variation, a model of dual provision is developed that endogenizes public and private funding. Members of the...
Persistent link: https://www.econbiz.de/10012920474
Traditional approaches to structural vector autoregressions can be viewed as special cases of Bayesian inference arising from very strong prior beliefs. These methods can be generalized with a less restrictive formulation that incorporates uncertainty about the identifying assumptions...
Persistent link: https://www.econbiz.de/10012931213
We study the impact of two dimensions of trust, namely trust in business elites and trust in government, on policy preferences. Using a randomized online survey, we find that our two treatments are effective in changing trust in Major Companies and in Courts/Government. In contrast to previous...
Persistent link: https://www.econbiz.de/10012977285
This paper reports results from a laboratory experiment that investigates the Meltzer-Richard model of equilibrium tax … altruism and inequality aversion. The experiment varies the amount of inequality and the collective choice procedure to …
Persistent link: https://www.econbiz.de/10013225000