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Membership has its Privileges: On the Effects of Delegating Powers Internationally
Voigt, Stefan - 2005
This paper analyzes whether nation-state governments can increase their credibility by becoming members of … international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have … organizations can improve the credibility of nation-state governments. This hypothesis is tested by introducing a new indicator. On …
Persistent link: https://www.econbiz.de/10010263282
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History, expectations, and public policy: Economic development in Eastern Germany
Schäfer, Andreas; Steger, Thomas M. - 2010
Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...
Persistent link: https://www.econbiz.de/10010276791
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Job Creation and the Intra-distribution Dynamics of the Firm Size Distribution
Huber, Peter; Oberhofer, Harald; Pfaffermayr, Michael - 2011
Based on a structural model for initial firm size, survival and firm growth we estimate firm-specific transition probabilities between size classes of the firm size distribution. This allows an assessment of the impact of different (counterfactual) economic policy measures on intra-distribution...
Persistent link: https://www.econbiz.de/10011435314
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Structural reforms and macroeconomic performance in the euro area countries: a model-based assessment
Gomes, Sandra; Jacquinot, Pascal; Mohr, Matthias; … - 2011
We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by simulating EAGLE, a multi-country dynamic general equilibrium model. We consider reforms in the labor and services markets of Germany (or, alternatively, Portugal) and the rest of the...
Persistent link: https://www.econbiz.de/10011605369
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Did export promotion help firms weather the crisis?
Van Biesebroeck, Johannes; Konings, Jozef; Volpe … - 2016
In the global recession of 2009, exports declined precipitously in many countries. We illustrate with firm-level data for Belgium and Peru that the decline was very sudden and almost entirely due to lower export sales by existing exporters. After the recession, exports rebounded almost equally...
Persistent link: https://www.econbiz.de/10011506811
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Incomplete information, credibility and the Core
Dutta, Bhaskar; Vohra, Rajiv - 2001
An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar cases, involving no information sharing and arbitrary...
Persistent link: https://www.econbiz.de/10010318931
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Social Trust and Central-Bank Independence
Berggren, Niclas; Daunfeldt, Sven-Olof; Hellström, Jörgen - 2012
credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social …
Persistent link: https://www.econbiz.de/10010320270
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Does monetary policy credibility help in anchoring inflation expectations? Evidence from six inflation targeting emerging economies
Güler, Aslı - In: Journal of Central Banking Theory and Practice 10 (2021) 1, pp. 93-111
extent to which inflation expectations are formed by the announced targets. As the credibility of the central bank increases … target. Credibility enables expectation to be formed in a forward-looking way by weakening its connection with the past. This … study aims to contribute to the literature concerning the effects of credibility on monetary policy. For this purpose, using …
Persistent link: https://www.econbiz.de/10014558525
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What makes an imagined future credible?
Beckert, Jens - 2024
credibility come from? I propose a simple model which consists of three elements. I distinguish first the story-maker or persuader … at risk and who needs to become convinced of the credibility of the imagined future. The third element in the model is … assessments of credibility. …
Persistent link: https://www.econbiz.de/10014633294
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Does membership in international organizations increase governments' credibility?: testing the effects of delegating powers
Dreher, Axel; Voigt, Stefan - 2008
This paper analyzes whether nation-state governments can increase their credibility by becoming members of … international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have … organizations can improve the credibility of nation-state governments. This hypothesis is tested by introducing three new indicators …
Persistent link: https://www.econbiz.de/10010264350