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We develop and estimate a general equilibrium model in which monetary policy can deviate from active inflation stabilization and agents face uncertainty about the nature of these deviations. When observing a deviation, agents conduct Bayesian learning to infer its likely duration. Under...
Persistent link: https://www.econbiz.de/10013045651
regulatory measures that China has adopted to incentivize air quality improvement: publishing a daily air pollution index (API …) for major cities since 2000 and linking the API to performance evaluations of local governments. In particular, China … with two alternative measures of air pollution - namely visibility as reported by the China Meteorological Administration …
Persistent link: https://www.econbiz.de/10013087753
We define and study transparency, credibility, and reputation in a model where the central bank's characteristics are … the sense that it induces lower inflation and employment than expected. Increased transparency makes the bank's reputation …
Persistent link: https://www.econbiz.de/10013137302
reputation – an intangible capital form – in contrast to their documented inhibiting effect on investment in tangible capital …
Persistent link: https://www.econbiz.de/10012908183
reputation-conscious agents to supply a public good. Each agent chooses how much to contribute based on his own mix of public …
Persistent link: https://www.econbiz.de/10012993235
reputation. Cycles arise because investment in reputation causes self-fulfilling changes in the discount factor. Cycles are more …
Persistent link: https://www.econbiz.de/10012982017
The overuse of medical services including antibiotics is often blamed on Physician Induced Demand. But since this … all of these treatments reduce antibiotics prescriptions, suggesting that antibiotics abuse in China is not driven by …
Persistent link: https://www.econbiz.de/10013104736
Many new products presumed to be privately beneficial to the poor have a high price elasticity of demand and ultimately … concern of trying to limit their cost. In this study, we use data from a two-year field experiment in rural China to define … model that includes the forces that are known to be determinants of insurance demand, provide reduced form confirmation of …
Persistent link: https://www.econbiz.de/10012982016
This is the first paper to investigate the determinants of the demand for medical care in the People's Republic of … China. It uses a data set that consists of detailed characteristics of 6407 urban households, a continuous measure of health … characteristics and work conditions impact the demand for medical care. Income elasticity is around 0.3, indicating medical care is a …
Persistent link: https://www.econbiz.de/10013310546
popular opposition television channel in Venezuela. The government did not renew RCTV's license, and the channel was replaced … overnight, during May 2007, by a pro-government channel. Based upon this censorship of opposition television, we have three key …, but rose on Globovision, the only remaining television channel for opposition viewers. This finding is consistent with a …
Persistent link: https://www.econbiz.de/10012836019