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Protection for Sale with Imperfect Rent Capturing

Facchini, Giovanni - 2005

Structurally estimating the Grossman and Helpman (1994) model using coverage ratios that include non-tariff barriers leads to biased parameter estimates. We develop a "protection for sale" theoretical framework consistent with the data, by explicitly allowing for non-tariff barriers. Introducing...

Persistent link: https://www.econbiz.de/10012467416

Horizontal and Vertical Conflict : Experimental Evidence

Galiani, Sebastian - 2016

Two types of political conflicts of interest pervade many of the world's societies. A horizontal conflict of interest arises when different constituencies support different policies, while a vertical conflict of interest emerges when those in charge of running the government acquire and retain...

Persistent link: https://www.econbiz.de/10012456815

The Conduct of Domestic Monetary Policy

Gordon, Robert J. - 1983

income growth will be divided between inflation and output growth, as well as "velocity" constraints that influence the path …-equation approach to the econometric problem of predicting how changes in nominal GNP growth will be divided between inflation and real … GNP growth. The results from the equation estimated through 1980 are used to examine the behavior of inflation during the …

Persistent link: https://www.econbiz.de/10012477878

Credible Commitment to Optimal Escape from a Liquidity Trap : The Role of the Balance Sheet of an Independent Central Bank

Jeanne, Olivier - 2004

, which involves a commitment to higher future inflation. This commitment mechanism works even though, realistically, the …

Persistent link: https://www.econbiz.de/10012468011

Crucial Issues Concerning Central Bank Independence

McCallum, Bennett T. - 1996

This paper argues, first, that it is inappropriate to presume that central banks will, in the absence of any tangible precommitment technology, inevitably behave in a `discretionary' fashion that implies an inflationary bias. Furthermore, there is no necessary tradeoff between `flexibility and...

Persistent link: https://www.econbiz.de/10012473251

Two Fallacies Concerning Central Bank Independence

McCallum, Bennett T. - 1995

average rates of money creation (or inflation) and policy responsiveness to cyclical disturbances, it is entirely feasible for …

Persistent link: https://www.econbiz.de/10012473814

Modern Approaches to Central Banking

Fischer, Stanley - 1995

Modern theory has delivered both the conservative central banker and the principal-agent approaches as rationales for … shows not only that greater independence is associated with lower inflation, but also that the central bank's rights not to … finance the government and to set interest rates independently increase its effectiveness. The role of inflation targeting and …

Persistent link: https://www.econbiz.de/10012473825

Different Types of Central Bank Insolvency and the Central Role of Seignorage

Reis, Ricardo - 2015

A central bank is insolvent if its plans imply a Ponzi scheme on reserves so the price level becomes infinity. If the central bank enjoys fiscal support, in the form of a dividend rule that pays out net income every period, including when it is negative, it can never become insolvent...

Persistent link: https://www.econbiz.de/10012457441

On the Political Economy of Land Value Capitalization and Local Public Sector Rent-Seeking in a Tiebout Model

Gyourko, Joseph - 1986

In this paper we examine the political economy. of capitalization in a Tiebout model when there is a rent-seeking public bureaucracy. A new approach is suggested for testing for the influence of successful local public sector rent-seeking on local property values. We present empirical evidence...

Persistent link: https://www.econbiz.de/10012477155

Whitelashing : Black Politicians, Taxes, and Violence

Logan, Trevon D. - 2019

This paper provides the first evidence of the effect of tax policy on the likelihood of violent attacks against black politicians. I find a strong positive effect of local tax revenue on subsequent violence against black politicians. A dollar increase in per capita county taxes increases the...

Persistent link: https://www.econbiz.de/10012479963

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