Narrow search
Showing 1 - 10 of 402
Cover Image
State Versus Private Ownership
Shleifer, Andrei - 2021
costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of …
Persistent link: https://www.econbiz.de/10013239155
Cover Image
A Model of Capital and Crises
He, Zhiguo - 2010
We develop a model in which the capital of the intermediary sector plays a critical role in determining asset prices. The model is cast within a dynamic general equilibrium economy, and the role for intermediation is derived endogenously based on optimal contracting considerations. Low...
Persistent link: https://www.econbiz.de/10012758330
Cover Image
Anticipating the Great Depression? Gustav Cassel's Analysis of the Interwar Gold Standard
Irwin, Douglas A. - 2011
The intellectual response to the Great Depression is often portrayed as a battle between the ideas of Friedrich Hayek and John Maynard Keynes. Yet both the Austrian and the Keynesian interpretations of the Depression were incomplete. Austrians could explain how a country might get into a...
Persistent link: https://www.econbiz.de/10013118250
Cover Image
Depression for Economists
de Quidt, Jonathan - 2016
Major depressive disorder (MDD) is one of the most prevalent mental illnesses worldwide. Existing evidence suggests that it has both economic causes and consequences, such as unemployment. However, depression has not received significant attention in the economics literature. In this paper, we...
Persistent link: https://www.econbiz.de/10012976995
Cover Image
Fighting the Last War : Economists on the Lender of Last Resort
Grossman, Richard S. - 2015
In this paper we trace the evolution of the lender of last resort doctrine—and its implementation—from the nineteenth century through the panic of 2008. We find that typically the most influential economists “fight the last war”: formulating policy guidelines that would have dealt...
Persistent link: https://www.econbiz.de/10013030619
Cover Image
Intertemporal Choice
Ericson, Keith M. Marzilli - 2018
Intertemporal tradeoffs play a key role in many personal decisions and policy questions. We describe models of intertemporal choice, identify empirical regularities in choice, and pose new questions for research. The focus for intertemporal choice research is no longer whether the exponential...
Persistent link: https://www.econbiz.de/10012906455
Cover Image
Borrowing Constraints and Consumption Behavior in Japan
Wakabayashi, Midori; Horioka, Charles Yuji - 2021
In this paper, we use Japanese micro data to examine what characteristics borrowing-constrained households have and whether borrowing constraints have an important influence on household consumption behavior. We identify borrowing-constrained households using three different indicators, some of...
Persistent link: https://www.econbiz.de/10013249189
Cover Image
Capitalizing China
Fan, Joseph P. H. - 2011
Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist …
Persistent link: https://www.econbiz.de/10013117212
Cover Image
Customer Capital
Gourio, Francois - 2011
Firms spend substantial resources on marketing and selling. Interpreting this as evidence of frictions in product markets, which require firms to spend resources on customer acquisition, this paper develops a search theoretic model of firm dynamics in frictional product markets. Introducing...
Persistent link: https://www.econbiz.de/10013122655
Cover Image
Can't We All Be More Like Scandinavians? Asymmetric Growth and Institutions in an Interdependent World
Acemoglu, Daron - 2012
"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others … will free- ride on the cutthroat incentives of the leaders and choose a more "cuddly" form of capitalism. Paradoxically … equilibrium, it is not a best response for the cutthroat capitalists to switch to a more cuddly form of capitalism. We also show …
Persistent link: https://www.econbiz.de/10013099537