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–“natural rate theory”- dominated interpretations of economic trends and policy prescriptions since the 1970s. Public policy …. Economic trends were filtered through the lens of the “natural rate theory,” focusing on labor market institutions only and … allow markets to operate more freely, i.e. to bring the real world closer to the idealized theoretical model. This paper …
Persistent link: https://www.econbiz.de/10008651698
plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of …
Persistent link: https://www.econbiz.de/10009524338
plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of …
Persistent link: https://www.econbiz.de/10009488633
Global crises are very rare events. After the Great Depression and the Great Stagflation, new macroeconomic paradigms associated with a new policy regime emerged. This book addresses how some macroeconomic ideas have failed and examines which theories researchers should preserve and develop. It...
Persistent link: https://www.econbiz.de/10009685437
Persistent link: https://www.econbiz.de/10001745840
Global crises are very rare events. After the Great Depression and the Great Stagflation, new macroeconomic paradigms associated with a new policy regime emerged. This book addresses how some macroeconomic ideas have failed, and examines which theories researchers should preserve and develop. It...
Persistent link: https://www.econbiz.de/10011850633
Persistent link: https://www.econbiz.de/10011603092
Persistent link: https://www.econbiz.de/10003927518
Who was listening before the Financial Crisis of 2008 to Arrow's warnings and the teachings of Coase? Due to transaction costs, incomplete foresight and bounded rationality not all risks that would be desirable to shift can be shifted through the market. Financial firms and other institutions...
Persistent link: https://www.econbiz.de/10013126899
Persistent link: https://www.econbiz.de/10012602697