Showing 1 - 10 of 32
Historically, countries have relied on seigniorage. In this paper, we explore a set of features in which a benevolent government will rely on seigniorage. We use a simple overlapping generations model with return-dominated money. Money is valued because of a reserve requirement. The government...
Persistent link: https://www.econbiz.de/10005346086
In this paper, we examine the empirical relationship between financial repression, financial development, and growth. Theory has developed in which financial repression and growth are linked. The main contribution of this paper is to look at two parts. First, what, if any, is the empirical link...
Persistent link: https://www.econbiz.de/10005346096
Persistent link: https://www.econbiz.de/10005346101
Illegal immigration and border enforcement in the United States have increased concomitantly for over thirty years. One interpretation is that U.S. border policies have been ineffective. We offer an alternative view, extending the current immigration-enforcement literature by incorporating both...
Persistent link: https://www.econbiz.de/10005346108
High-powered money has been declining relative to nominal GDP in the United States. Does the ability of monetary policy to affect aggregate activity decline as the money-income ratio falls? In this paper, I specify simple model economy, examining the effects that monetary policy actions and...
Persistent link: https://www.econbiz.de/10005346128
In this paper, we examine the impact that changes in the rate of money creation and reserve requirements have on real seigniorage revenue. We consider two additional features that differ from previous analyses. First, the model economies grow endogenously, and that growth depends on the...
Persistent link: https://www.econbiz.de/10005346141
Persistent link: https://www.econbiz.de/10005346142
Persistent link: https://www.econbiz.de/10005346149
Persistent link: https://www.econbiz.de/10005346155
In this paper, we examine network capital usage and migration patterns in a theoretical model. Networks are modeled as impacting the migration decision in many ways. When young, larger networks reduce the time lost moving from one region to another. In addition networks decrease the time spent...
Persistent link: https://www.econbiz.de/10005706847