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Why Some Times Are Different : Macroeconomic Policy and the Aftermath of Financial Crises

Romer, Christina D. - 2017

Analysis based on a new measure of financial distress for 24 advanced economies in the postwar period shows substantial variation in the aftermath of financial crises. This paper examines the role that macroeconomic policy plays in explaining this variation. We find that the degree of monetary...

Persistent link: https://www.econbiz.de/10012453783

Trapped in the Trilemma : When Security Trumps Economics

Bordo, Michael D.; James, Harold - National Bureau of Economic Research - 2022

economy trilemma between capital mobility, democracy and sovereignty; 4. The Financial stability trilemma between capital …

Persistent link: https://www.econbiz.de/10013388862

How the US-China Trade War Accelerated Urban Economic Growth and Environmental Progress in Northern Vietnam

Kahn, Matthew E.; Liao, Wen-Chi; Zheng, Siqi - National Bureau of Economic Research - 2024

.S. consumers. Moving production to nearby Vietnam allows firms to jump the tariff wall. Within Vietnam, cities closer to China with … fuel their local economy. We study the local air quality gains and the carbon dioxide emissions reductions associated with …

Persistent link: https://www.econbiz.de/10015145077

The Effect of Fiscal Stimulus : Evidence from COVID-19

Casado, Miguel Garza - 2020

Policymakers, faced with different options for replacing lost earnings, have had limited evidence to inform their decisions. The current economic crisis has highlighted the need for data that are local and timely so that different fiscal policy options on local economies can be more immediately...

Persistent link: https://www.econbiz.de/10012481181

Macroeconomic Adjustment with Segmented Labor Markets

Agenor, Pierre-Richard - 1994

. The basic framework considers an economy with a large informal production sector and a heterogeneous work force. The labor … improves competitiveness, and expands the formal sector at the expense of the informal sector. Hence, in a two-sector economy …

Persistent link: https://www.econbiz.de/10012474150

Do Industrial Relations Institutions Impact Economic Outcomes? : International and U.S. State-Level Evidence

Kleiner, Morris M. - 2002

The impact of government social and labor market institutions on economic outcomes have generated a great deal of attention by economists and policymakers in the U.S. and in other nations. The theoretical model suggests that there are trade offs of higher levels of economic outcomes with more...

Persistent link: https://www.econbiz.de/10012469986

What about Japan?

Chien, YiLi; Cole, Harold L.; Lustig, Hanno - National Bureau of Economic Research - 2023

As a result of the BoJ's large-scale asset purchases, the consolidated Japanese government borrows mostly at the floating rate from households and invests in longer-duration risky assets to earn an extra 3% of GDP. We quantify the impact of Japan's low-rate policies on its government and...

Persistent link: https://www.econbiz.de/10014436981

Fluctuating Macro Policies and the Fiscal Theory

Davig, Troy - 2005

This paper estimates regime-switching rules for monetary policy and tax policy over the post-war period in the United States and imposes the estimated policy process on a calibrated dynamic stochastic general equilibrium model with nominal rigidities. Decision rules are locally unique and...

Persistent link: https://www.econbiz.de/10012467473

Macroeconomic Effects of China's Financial Policies

Chen, Kaiji - 2018

The Chinese economy has undergone three major phases: the 1978-1997 period marked as the SOE-led economy, the 1998 …-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the … one economy to another was driven mainly by regime changes in financial policies …

Persistent link: https://www.econbiz.de/10012480873

Managing an Energy Shock : Fiscal and Monetary Policy

Auclert, Adrien; Monnery, Hugo; Rognlie, Matthew; … - National Bureau of Economic Research - 2023

This paper studies the macroeconomic effects of energy price shocks in energy-importing economies using a heterogeneous-agent New Keynesian model. When MPCs are realistically large and the elasticity of substitution between energy and domestic goods is realistically low, increases in energy...

Persistent link: https://www.econbiz.de/10014337777