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Different beliefs about how fair social competition is and what determines income inequality, influence the redistributive policy chosen democratically in a society. But the composition of income in the first place depends on equilibrium tax policies. If a society believes that individual effort...
Persistent link: https://www.econbiz.de/10013134300
Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and evaluated, with the aim of drawing lessons for monetary policy from the recent historical record. All four countries shifted during this period to money targeting, though with...
Persistent link: https://www.econbiz.de/10012777224
the U.S. and Europe. Another popular view is that these differences are explained by long-standing European "culture," but … the U.S. and Europe. These policies do not seem to have increased employment, but they may have had a more society …
Persistent link: https://www.econbiz.de/10013231444
. Results are presented for the U. S., Japan, and an aggregate called "Europe" consisting of eleven European economies. The … primary theme of the paper is that differences between Europe and the U. S. have been substantially exaggerated in recent work …. Europe has neither greater nominal wage flexibility nor more rigid real wages than the U. S. Evidence that the U. S. exhibits …
Persistent link: https://www.econbiz.de/10013244903
rates has been widespread in the analyses by economic policymakers both in Europe and in the United States. In this paper we … been raised by the recent policy debates in Europe and the United States: Have ex ante real rates in the United States and … Europe been high during recent years? Has there been a link between U.S. real rates and those in other countries? Can this …
Persistent link: https://www.econbiz.de/10013313673
utilization. These novelties have a major impact, especially in Europe, where our estimated TFP growth series are less volatile …-level and aggregate TFP series, as well as the first estimates of utilization-adjusted quarterly TFP growth in Europe …
Persistent link: https://www.econbiz.de/10014091114
This paper analyzes the effects of top earnings tax rates on the international migration of football players in Europe …
Persistent link: https://www.econbiz.de/10013135873
This paper uses a unique dataset to study how firms managed liquidity during the financial crisis. Our analysis provides new insights on the interactions between internal liquidity, external funds, and real corporate decisions, such as investment and employment. We first describe how companies...
Persistent link: https://www.econbiz.de/10013138771
stabilizers in Eastern and Southern Europe are much lower than in Central and Northern European countries. We also investigate …
Persistent link: https://www.econbiz.de/10013139144
In the aftermath of World War II, the world's economies exhibited very different rates of economic recovery. We provide evidence that those countries that caught up the most with the U.S. in the postwar period are those that also saw an acceleration in the speed of adoption of new technologies....
Persistent link: https://www.econbiz.de/10013115686