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This paper demonstrates how adding nominal wage rigidity to a standard sticky price model can create a mechanism by which increases in government spending cause increases in consumption. The increase in output arising from government purchases puts upward pressure on the price level. At a fixed...
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Powerful currents have reshaped the structure of families over the last century. There has been (i) a dramatic drop in fertility and greater parental investment in children; (ii) a rise in married female labor-force participation; (iii) a significant decline in marriage and a rise in divorce; (iv)...
Persistent link: https://www.econbiz.de/10011585848
progress in building a modern institutional framework for fiscal policy, we find that the rule is incomplete in two dimensions …
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? -- American Economic Review ; Publishing Economics ; Rankings ; Cooperation ; Authors ; Editors ; Board Members ; Referees …
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component - covering only 15% of the population. However, by the 1990's economics was much more integrated, with the giant …, leading us to conclude that economics is an emerging small world. A crucial stable feature of the network over this period is … themselves). The world of economics is thus a collection of inter-linked stars. We also find that a growth in the average number …
Persistent link: https://www.econbiz.de/10011603155
While the effect of higher public debt levels on economic growth has received much attention, the literature partly points to contradictory results. This paper applies meta-regression methods to 826 estimates from 48 primary studies. The unweighted mean of the reported results suggests: a 10...
Persistent link: https://www.econbiz.de/10012665220
. To address this, we propose a Personalized VAT (PVAT) devised in conjunction with a distributional policy. We aim to … reveal welfare enhancing and output growth results through a PVAT policy that includes capital transfers, thereby presenting …
Persistent link: https://www.econbiz.de/10014457885
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This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone … 2008 to implement a countercyclical policy thanks to increases in primary balances, improvements in sustainability … countercyclical policy was supported by a shift towards more flexible exchange rate regimes, and monetary policy regimes that enhanced …
Persistent link: https://www.econbiz.de/10011303276