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Central Bank Credibility, Reputation and Inflation Targeting in Historical Perspective
Bordo, Michael D. - 2014
This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...
Persistent link: https://www.econbiz.de/10013043621
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Were Trade and Factor Mobility Substitutes in History?
Collins, William J.; O'Rourke, Kevin H.; Williamson, … - 2021
Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill...
Persistent link: https://www.econbiz.de/10013218517
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Peer Effects in European Primary Schools : Evidence from Pirls
Ammermueller, Andreas; Pischke, Jörn-Steffen - 2021
We estimate peer effects for fourth graders in six European countries. The identification relies on variation across classes within schools. We argue that classes within primary schools are formed roughly randomly with respect to family background. Similar to previous studies, we find sizeable...
Persistent link: https://www.econbiz.de/10013233466
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Central Banks : Evolution and Innovation in Historical Perspective
Bordo, Michael D. - 2017
Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...
Persistent link: https://www.econbiz.de/10012947026
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Central Bank Credibility : An Historical and Quantitative Exploration
Bordo, Michael D. - 2015
In this paper we provide empirical measures of central bank credibility and augment these with historical narratives from eleven countries. To the extent we are able to apply reliable institutional information we can also indirectly assess their role in influencing the credibility of the...
Persistent link: https://www.econbiz.de/10013030622
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Corruption, Intimidation, and Whistle-Blowing : A Theory of Inference from Unverifiable Reports
Chassang, Sylvain - 2014
We consider a game between a principal, an agent, and a monitor in which the principal would like to rely on messages by the monitor to target intervention against a misbehaving agent. The difficulty is that the agent can credibly threaten to retaliate against likely whistleblowers in the event...
Persistent link: https://www.econbiz.de/10013050290
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Committee Jurisdiction, Congressional Behavior and Policy Outcomes
de Figueiredo, John M. - 2011
empirically investigate these results examining proposed Internet intellectual property protection legislation in the 106th …
Persistent link: https://www.econbiz.de/10013123305
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Legislating Stock Prices
Cohen, Lauren - 2012
In this paper we demonstrate that legislation has a simple, yet previously undetected impact on firm stock prices … firms any given piece of legislation will affect, and how it will affect them. By observing the actions of legislators whose … constituents are the affected firms, we can gather insights into the likely impact of government legislation on firms. Specifically …
Persistent link: https://www.econbiz.de/10013102187
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The Trouble with Cases
Schauer, Frederick - 2010
For several decades now a debate has raged about policy-making by litigation. Spurred by the way in which tobacco, environmental, and other litigation has functioned as an alternative form of regulation, the debate asks whether policy-making or regulation by litigation is more or less socially...
Persistent link: https://www.econbiz.de/10013151132
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Effects of Venue-Specific State Clean Indoor Air Laws on Smoking-Related Outcomes
Bitler, Marianne P. - 2010
A large literature has documented relationships between state clean indoor air laws (SCIALs) and smoking-related outcomes in the US. These laws vary within states over time and across venues such as schools, government buildings, and bars. Few studies, however, have evaluated whether the effects...
Persistent link: https://www.econbiz.de/10013151383