Fluctuation Economic research grow up from 80’s with the Dynamic Stochastic General Equilibrium Models (DSGE), where the agent are search for the optimum point at the intertemporal decisions, that is decision over time of how consumers make choice between present and future consumption at the...

This paper considers the aggregate performance of the banking industry, applying a modified and extended dynamic decomposition of bank return on equity. The aggregate performance of any industry depends on the underlying microeconomic dynamics within that industry . adjustments within banks,...

This paper considers the aggregate performance of the banking industry, applying a modified and extended dynamic decomposition of bank return on equity. The aggregate performance of any industry depends on the underlying microeconomic dynamics within that industry --- adjustments within banks,...

My dissertation consists of two independent essays on macroeconomic volatility and monetary economics respectively. The first essay explores the implications of imperfect information on macroeconomic volatility. It offers a micro-founded theory of time variation in the volatility of aggregate...

[This item is a preserved copy. To view the original, visit http://econtheory.org/] This paper introduces a mechanism design approach that allows dealing with the multiple equilibrium problem, using mechanisms that are robust to bounded rationality. This approach is a tool for constructing...

In response to predictions that population ageing will increase government spending over the coming decades, in 1997–98, the Australian Government introduced means-tested income fees and accommodation charges for those admitted to nursing homes with income and assets above set threshold...

The dissertation aims at broadening our understanding of tax evasion and government spending in developing countries. It comprises three essays. The first essay deals with estimation of tax evasion in a cross-section of developing countries by estimating their underground economies using the...

To counter the effect of recessions on workers, Congress has passed legislation to spur job creation through increased spending on public works (infrastructure) and public service programs, revenue sharing with state governments, and employment tax credits. Although the economic stimulus measure...

Este trabajo estudia las diferencias entre los multiplicadores fiscales a lo largo del ciclo de crédito en las economías de la OCDE. Se obtienen respuestas al impulso mediante un modelo estado dependiente con proyecciones directas, en el que los multiplicadores dependen del estado de los...

La democracia directa se está expandiendo por el mundo, pero aún se sabe poco sobre sus efectos en las políticas públicas. En este artículo se da evidencia a partir de un escenario único. En España, la Ley determina que los municipios se rijan por un sistema de democracia directa o...