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Macroeconomic effects of China's financial policies
Chen, Kaiji; Zha, Tao - 2018
The Chinese economy has undergone three major phases: the 1978-97 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 government financial policies, defined as a set of...
Persistent link: https://www.econbiz.de/10012030278
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Bayesian Nash Equilibria with a Provision Point: An Experimental Test
Johnson, Lowell - 1997
This paper extends theory and experimentation in the context of two parties in a group who contribute to a public good … with a provision point. This study analyzes the voluntary contributions game in which a public good is provided if and only … examine their efficiency implications. In an experimental test of a public-goods problem with a threshold and rebate, the …
Persistent link: https://www.econbiz.de/10010334331
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Public food procurement from smallholder farmers: Literature review and best practices
Miranda, Ana - 2018
. In a similar vein, public food procurement has also been used to promote a number of positive outcomes. There is growing … interest among countries and international institutions in using public food purchases to promote the integration of … smallholders into markets and strengthen rural livelihoods. Despite the expansion of public food procurement from smallholder …
Persistent link: https://www.econbiz.de/10012030402
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Aligning policy and legal frameworks for supporting smallholder farming through public food procurement: The case of home-grown school feeding programmes
Swensson, Luana F. Joppert - 2018
Food Procurement Programmes (IFPPs)3 - are based on the premise that public institutions, when using their financial … needs by addressing additional social, environmental or economic needs that contribute to the overall public good of the … state (McCrudden 2004; De Schutter 2014; Kelly and Swensson 2017). In particular, public food procurement initiatives have …
Persistent link: https://www.econbiz.de/10012030403
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Government financing in an endogenous growth model with financial market restrictions
Espinosa-Vega, Marco A.; Yip, Chong K. - 2000
In this paper we develop an endogenous growth model with market regulations on explicitly modeled financial intermediaries to examine the effects of alternative government financing schemes on growth, inflation, and welfare. ; We find that in the presence of binding legal reserve requirements, a...
Persistent link: https://www.econbiz.de/10010397468
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A public finance analysis of multiple reserve requirements
Espinosa-Vega, Marco; Russell, Steven - 1999
This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements. We go on to...
Persistent link: https://www.econbiz.de/10010397490
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A public finance analysis of multiple reserve requirements
Espinosa-Vega, Marco; Russell, Steven - 1998
This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements: in the...
Persistent link: https://www.econbiz.de/10010397493
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A comment on monetary policy and rational asset price bubbles
Allen, Franklin; Barlevy, Gadi; Gale, Douglas - 2023
Galí (2014) showed that a monetary policy rule that raises interest rates in response to bubbles can paradoxically lead to larger bubbles. This comment shows that a central bank that wants to dampen bubbles can always do so by raising interest rates aggressively enough. This result is different...
Persistent link: https://www.econbiz.de/10014480521
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Federal reserve policies and financial market conditions during the crisis
Brave, Scott A.; Genay, Hesna - 2011
During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of these policies on broad financial market conditions,...
Persistent link: https://www.econbiz.de/10010292196
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New Keynesian dynamics in a low interest rate environment
Braun, R. Anton; Körber, Lena Mareen - 2011
Recent research has found that the dynamic properties of the New Keynesian model can be very different when the nominal interest rate is zero. Improvements in technology and reductions in the labor tax rate lower economic activity, and the size of the government purchase output multiplier can be...
Persistent link: https://www.econbiz.de/10010292223