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In this paper we investigate some of the ways in which short-term variations in the magnitude of political instability can impact on macroeconomic performance, taking the example of Israel since 1987. Several indicators of political instability are found to have a significant impact on aggregate...
Persistent link: https://www.econbiz.de/10005705658
Using a theoretical framework in which voters' choices are the result of utility maximisation decisions, and in which the variation of utility functions across individuals is partly deterministic (depending on their socio-economic characteristics) and partly stochastic, we estimate...
Persistent link: https://www.econbiz.de/10005674990
Domestic savings are an important prerequisite for capital formation and growth. In this paper we analyze a new channel through which institutions influence aggregate savings and economic development. Whereas research in the field of savings decisions concentrates largely on the level of the...
Persistent link: https://www.econbiz.de/10010864064
The history of monetary policy is characterised by crisis and reform. The paper is dedicated to an explanation of what makes monetary reforms successful. A cross-sectional econometric analysis is chosen to deal with this problem. It is based on a standard macroeconomic model of commitment and...
Persistent link: https://www.econbiz.de/10005674763
Persistent link: https://www.econbiz.de/10005708983