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Farmer, Roger E.A. - 2009

This paper presents a model of the macroeconomy that reformulates what I take to be two important ideas from Keynes General Theory. The first is that there may be a continuum of steady state unemployment rates. The second is that beliefs select an equilibrium. I argue that search and matching...

Persistent link: https://www.econbiz.de/10012463802

Sudden Stop, Financial Factors and Economic Collpase in Latin America : Learning from Argentina and Chile

Calvo, Guillermo A. - 2005

This paper shows that the Russian 1998 crisis had a big impact on capital flows to Emerging Market Economies, EMs, especially in Latin America, and that the impact of the Russian shock differs quite markedly across EMs. To illustrate this statement, we compare the polar cases of Chile and...

Persistent link: https://www.econbiz.de/10012467532

Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime

Paolera, Gerardo della - 2000

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...

Persistent link: https://www.econbiz.de/10012471138

The Global 1970s and the Echo of the Great Depression

Taylor, Alan M. - 2009

The Great Depression ushered in a long era of deglobalization that lasted for many decades. An old conventional wisdom (e.g. Polanyi) argues that the common aspect of this shock across all countries, a deep depression, can explain the large and persistent global shift away from orthodox liberal...

Persistent link: https://www.econbiz.de/10012463174

Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries

Edwards, Sebastian - 1989

This paper develops our analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring an official devaluation. The effects of postponing adjustment depend on the source of the original shock,...

Persistent link: https://www.econbiz.de/10012476190

Who Profits From Amateurism? Rent-Sharing in Modern College Sports

Garthwaite, Craig - 2020

rents flow to women's sports and other men's sports and lead to increased spending on facilities, coaches' salaries, and … other athletic department personnel. Using complete roster data for every student-athlete playing sports at these schools in … collective bargaining agreements in professional sports leagues as a benchmark. We also discuss how our results help understand …

Persistent link: https://www.econbiz.de/10012481282

The Economic Ripple Effects of COVID-19

Buera, Francisco; Jaef, Roberto N. Fattal; Hopenhayn, … - National Bureau of Economic Research - 2021

What are the effects of a temporary lockdown of the economy? Do firms' deteriorating balance sheets and labor market frictions propagate and prolong the effects? We answer these questions in a model with financial and labor market frictions. The model makes quantitative predictions about the...

Persistent link: https://www.econbiz.de/10012510582

External Balance Sheets and the COVID-19 Crisis

Hale, Galina; Juvenal, Luciana - National Bureau of Economic Research - 2021

At the onset of the COVID-19 economic crisis, as in other crisis episodes, the flight to safety was accompanied by a rapid appreciation of "safe haven" currencies. We quantify currency-induced balance sheet effects for total external positions as well as for individual asset classes using new...

Persistent link: https://www.econbiz.de/10012629497

Money or Power? Financial Infrastructure and Optimal Policy

Berkouwer, Susanna B.; Biscaye, Pierre E.; Hsu, Eric; … - National Bureau of Economic Research - 2021

In response to the Covid-19 crisis, 186 countries implemented direct cash transfers to households, and 181 introduced in-kind programs that lowered the cost of utilities such as electricity, water, transport, and mobile money. Do cash or in-kind transfers generate greater welfare improvements?...

Persistent link: https://www.econbiz.de/10012599376

Stock Market Stimulus

Greenwood, Robin; Laarits, Toomas; Wurgler, Jeffrey - National Bureau of Economic Research - 2022

We study the stock market effects of the arrival of the three rounds of "stimulus checks" to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of retail-dominated portfolios....

Persistent link: https://www.econbiz.de/10013172127

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