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Persson, Torsten - 2003

The paper presents empirical findings regarding the economic policy consequences of constitutional arrangements, in three different dimensions. First, the data are consistent with several theoretical predictions about the consequences of electoral rules and forms of government for fiscal policy...

Persistent link: https://www.econbiz.de/10012468524

Misallocation, Establishment Size, and Productivity

Bento, Pedro - 2016

We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output and establishment size. Relative to the standard factor misallocation framework, policy...

Persistent link: https://www.econbiz.de/10012455871

The International Transmission of Credit Bubbles : Theory and Policy

Ventura, Jaume - 2015

We live in a new world economy characterized by financial globalization and historically low interest rates. This … propagated abroad. In previous work, we built on the theory of rational bubbles to develop a framework to think about the origins … in this world. The interest-rate and terms-of-trade spillovers produce policy externalities that make the noncooperative …

Persistent link: https://www.econbiz.de/10012457733

Political Economy in a Changing World

Acemoglu, Daron - 2013

We provide a general framework for the analysis of the dynamics of institutional change (e.g., democratization, extension of political rights or repression of different groups), and how these dynamics interact with (anticipated and unanticipated) changes in the distribution of political power...

Persistent link: https://www.econbiz.de/10012459504

A Series of Unfortunate Events : Common Sequencing Patterns in Financial Crises

Reinhart, Carmen M. - 2012

in the summer of 2007 is unprecedented in the post World War II era and, as such, the most relevant comparison benchmark …

Persistent link: https://www.econbiz.de/10012460718

Political Instability, Political Weakness and Inflation : An Empirical Analysis

Edwards, Sebastian - 1991

In this paper we analyze empirically the most important implications of two family political economy models of inflation: the "myopic? government approach and the "weak" government approach. In myopic government models inflation is the deliberate outcome of politicians strategic behavior, while...

Persistent link: https://www.econbiz.de/10012475286

Policy Distortions, Size of Government, and Growth

Easterly, William - 1989

This paper analyzes the structural relationship between policies that distort resource allocation and long-ten growth. It first reviews briefly the Solow model in which steady-state growth depends only on exogenous technological change. Policy distortions do affect the rate of growth in the...

Persistent link: https://www.econbiz.de/10012475823

International Coordination of Economic Policies : Scope, Methods, and Effects

Frenkel, Jacob A. - 1988

actual evolution of the world economy over the 1974-87 period. Our findings suggest that simple mechanistic rule …

Persistent link: https://www.econbiz.de/10012476394

Forms of Democracy, Policy and Economic Development

Persson, Torsten - 2005

The paper combines insights from the recent research programs on constitutions and economic policy, and on history, institutions and growth. Drawing on cross-sectional as well as panel data, it presents new empirical results showing that the form of democracy (rather than democracy vs....

Persistent link: https://www.econbiz.de/10012467514

Policy Evaluation in Uncertain Economic Environments

Brock, William A. - 2003

This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...

Persistent link: https://www.econbiz.de/10012468673