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Permission to Exist
Byford, Martin C. - 2014
We provide a new model that generates persistent performance differences amongst seemingly similar enterprises. Our model provides a mechanism whereby efficient incumbent rivals can give permission for an inefficient firm to exist in the presence of efficient entrants. We demonstrate that, in a...
Persistent link: https://www.econbiz.de/10013047026
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Unilateral Tariff Liberalisation
Baldwin, Richard - 2010
strives to partly redress this lacuna on the theory side by introducing three novel political economy mechanisms with …
Persistent link: https://www.econbiz.de/10013135235
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Market Deregulation and Optimal Monetary Policy in a Monetary Union
Cacciatore, Matteo - 2013
The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …
Persistent link: https://www.econbiz.de/10013082164
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Migration-Regime Liberalization and Social Security : Political-Economy Effect
Razin, Assaf - 2010
The pay-as-you-go social security system, increasingly burdened by dwindling labor force, can benefit from immigrants whose birth rates exceed those of the native born birth. The paper examines adynamic political-economy mechanism through which the social security system influences the young...
Persistent link: https://www.econbiz.de/10013152617
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Do Oligopolists Pollute Less? Evidence from a Restructured Electricity Market
Mansur, Erin T. - 2007
Electricity restructuring has created the opportunity for producers to exercise market power. Oligopolists increase price by distorting output decisions, causing cross-firm production inefficiencies. This study estimates the environmental implications of production inefficiencies attributed to...
Persistent link: https://www.econbiz.de/10012775794
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Short-Term Pain for Long-Term Gain : Market Deregulation and Monetary Policy in Small Open Economies
Cacciatore, Matteo - 2015
This paper explores the effects of labor and product market reforms in a New Keynesian, small open economy model with labor market frictions and endogenous producer entry. We show that it takes time for reforms to pay off, typically at least a couple of years. This is partly because the benefits...
Persistent link: https://www.econbiz.de/10013010295
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Market Reforms in the Time of Imbalance
Cacciatore, Matteo - 2016
business cycle conditions at the time of deregulation significantly affect adjustment. A reduction of firing costs entails …
Persistent link: https://www.econbiz.de/10012994915
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Trade Versus Investment Liberalization
Markusen, James R. - 2021
Despite several theoretical contributions and considerable informal empirical evidence" to the contrary, a notion that trade and investment are substitutes persists in trade policy" analysis. This paper considers the liberalization of commodity trade versus liberalization" allowing direct...
Persistent link: https://www.econbiz.de/10013219978
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When Does Capital Account Liberalization Help More than it Hurts?
Arteta, Carlos Oscar; Eichengreen, Barry; Wyplosz, Charles - 2021
In this paper we reconsider the evidence on capital account liberalization and growth. While we find indications of a positive association, the effects vary with time, with how capital account liberalization is measured, and with how the relationship is estimated. The evidence that the effects...
Persistent link: https://www.econbiz.de/10013221506
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Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
Blanchard, Olivier J.; Giavazzi, Francesco - 2021
Product and labor market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … market deregulation, we then use our results to study two specific issues. First, to shed light on macroeconomic evolutions …
Persistent link: https://www.econbiz.de/10013213061