Showing 1 - 10 of 505
The global financial crisis has forced standard macroeconomics to re-examine the plausibility of its assumptions and the adequacy of the policy prescriptions flowing from those assumptions. We believe a renewal of macroeconomic thinking and macroeconomic modeling is possible by recognizing that...
Persistent link: https://www.econbiz.de/10012970984
Following the Great Recession, eurozone countries have performed worse than even the currency union’s most pessimistic … critics had predicted. The paper identifies the strong fundamental flaws in the design of the eurozone and proposes a set of … reforms, both in the structure of the eurozone and current policies, which might enable the euro to work. It traces the flaws …
Persistent link: https://www.econbiz.de/10010942359
Persistent link: https://www.econbiz.de/10001276534
Persistent link: https://www.econbiz.de/10000804973
Persistent link: https://www.econbiz.de/10000810088
Persistent link: https://www.econbiz.de/10000593134
Persistent link: https://www.econbiz.de/10010419863
Persistent link: https://www.econbiz.de/10010465497
Persistent link: https://www.econbiz.de/10001061660
This paper presents a simple, general equilibrium macroeconomic model incorporating financial constraints, both credit and equity rationing, as well as other informational imperfections in labor and product markets, such as efficiency wage effects. A formulation somewhat analogous to the...
Persistent link: https://www.econbiz.de/10012763490