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Behavioral Public Economics : Welfare and Policy Analysis with Non-Standard Decision-Makers
Bernheim, B. Douglas; Rangel, Antonio - 2021
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10013222646
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Rules Versus Discretion in Trade Policy : an Empirical Analysis
Staiger, Robert W. - 2011
We test empirically for evidence that government tariff-setting behavior depends on the degree of discretion with which policy-makers are endowed. We do this by studying government tariff choices under two distinct environments. One environment is that of tariffs set under the Escape Clause...
Persistent link: https://www.econbiz.de/10013127832
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Transparency and Credibility : Monetary Policy with Unobservable Goals
Faust, Jon - 2010
We define and study transparency, credibility, and reputation in a model where the central bank's characteristics are … unobservable to the private sector and are inferred from the policy outcome. A low-credibility bank optimally conducts a more … inflationary policy than a high-credibility bank, in the sense that it induces higher inflation, but a less expansionary policy in …
Persistent link: https://www.econbiz.de/10013137302
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The Continental Dollar : Initial Design, Ideal Performance, and the Credibility of Congressional Commitment
Grubb, Farley - 2011
Continental dollar lost credibility. Depreciation and collapse followed shortly thereafter …
Persistent link: https://www.econbiz.de/10013121724
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Crisis and Commitment : Inflation Credibility and the Vulnerability to Sovereign Debt Crises
Aguiar, Mark - 2013
We propose a continuous time model of nominal debt and investigate the role of inflation credibility in the potential … punishment of default. With high inflation credibility, which can be interpreted as joining a monetary union or issuing foreign … currency debt, debt is effectively real. By contrast, with low inflation credibility, sovereign debt is nominal and in a debt …
Persistent link: https://www.econbiz.de/10013074648
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Public Audit Oversight and Reporting Credibility : Evidence from the PCAOB Inspection Regime
Gipper, Brandon - 2015
This paper studies the impact of public audit oversight on financial reporting credibility. We analyze changes in … filings after the new regime. Our results show that public audit oversight can enhance reporting credibility and that this … credibility is priced in capital markets …
Persistent link: https://www.econbiz.de/10013015984
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Are Hard Pegs Ever Credible in Emerging Markets? Evidence from the Classical Gold Standard
Mitchener, Kris James - 2010
We test whether fixed exchange rate regimes are ever credible in emerging markets by analyzing the behavior of short-term domestic trade bills across countries during the classical gold standard period, the most widely used hard peg in modern financial history. We exploit the fact that global...
Persistent link: https://www.econbiz.de/10013150729
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The Evolution of a Legal Rule
Niblett, Anthony - 2008
The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...
Persistent link: https://www.econbiz.de/10012772379
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Understanding Trust
Sapienza, Paola - 2010
Several papers study the effect of trust by using the answer to the World Values Survey (WVS) question quot;Generally speaking, would you say that most people can be trusted or that you can't be too careful in dealing with people?quot; to measure the level of trust. Glaeser et al. (2000)...
Persistent link: https://www.econbiz.de/10012759848
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Interest Rate Rules, Inflation Stabilization, and Imperfect Credibility : The Small Open Economy Case
Calvo, Guillermo A. - 2010
credibility EBRS is associated with overheating and current account deficits, IRRs give rise to somewhat opposite results … costs infringed by imperfect credibility …
Persistent link: https://www.econbiz.de/10012760044