Showing 1 - 10 of 111
, including within the context of joint programming between the EU, France, Germany and Spain. The scope of the study covers all …
Persistent link: https://www.econbiz.de/10012036340
In a plain-vanilla New Keynesian model with two-period staggered price-setting, discretionary monetary policy leads to multiple equilibria. Complementarity between pricing decisions of forward-looking firms underlies the multiplicity, which is intrinsically dynamic in nature. At each point in...
Persistent link: https://www.econbiz.de/10009639397
This paper presents new evidence on the social returns to education within a macroeconomic growth regression framework … dynamic human capital spillovers: the human capital stock increases prospective economic growth. The empirical results are … growth and jobs. Finally, the paper discusses discrepancies between private and social returns to education. …
Persistent link: https://www.econbiz.de/10009640173
This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries … over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point …—beyond which the government debt-to-GDP ratio has a deleterious impact on long-term growth—at about 90-100% of GDP. Confidence …
Persistent link: https://www.econbiz.de/10009640303
The number of variables related to long-run economic growth is large compared with the number of countries. Bayesian … model averaging is often used to impose parsimony in the cross-country growth regression. The underlying prior is that many …. The positive relationship between measures of trade openness and growth is much stronger than found in the literature. …
Persistent link: https://www.econbiz.de/10009640306
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10009640837
The Centre for European Reform is a think-tank devoted to improving the quality of the debate on the European Union. It is a forum for people with ideas from Britain and across the continent to discuss the many political, economic and social challenges facing Europe. It seeks to work with...
Persistent link: https://www.econbiz.de/10009636990
revisions of legislation controlling lobbyists and their activities, in particular the US Lobbying Disclosure Act. Conclusions … briefing expresses a preference for mandatory registration regimes and full financial disclosure of all professional lobbying …
Persistent link: https://www.econbiz.de/10009638644
Some committees convene behind closed doors while others publicly discuss issues and make their decisions. This paper studies the role of open and closed committee decision making in presence of external influence. We show that restricting the information of interest groups may reduce the bias...
Persistent link: https://www.econbiz.de/10009635893
This paper presents a positive theory of centralization of political decisions in an international union. My central claim is that lobbies play a role in determining the assignment of competencies to the union because their power of influence can increase or decrease under centralization. I show...
Persistent link: https://www.econbiz.de/10009639847