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, police, and EMS departments sense an opportunity to increase their funding after the highly-publicized rescue efforts? We … find no evidence of more frequently proposed tax levies as a result of 9/11. However, we find that fire and police … departments asked for 25% and 39% larger tax levies. Support for police levies was essentially unchanged, and voters decreased …
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Our chapter reviews positive and normative issues in the interaction between monetary and fiscal policy, with an emphasis on how views on policy coordination have changed over the last 25 five years. On the positive side, noncooperative games between a government and its central bank have given...
Persistent link: https://www.econbiz.de/10014025625
In advanced economies, the recent collapse of interest rates to the Zero Lower Bound (ZLB) has triggered a series of research questions on how to navigate the new zero-interest credit environment. Focusing on illegal markets, it is possible to explain why usury still remains widespread after the...
Persistent link: https://www.econbiz.de/10012945515
Counterfeit money is the topic of television, movies, and lore but hardly seen by most of us - for only about one in ten thousand notes is found to be counterfeit, annually, in the USA (Judson and Porter 2003). And while the value of globally seized and passed counterfeit American dollars has...
Persistent link: https://www.econbiz.de/10013039869
result, they insufficiently police the agents during booms and excessively do so during busts. Conspicuous law enforcement …
Persistent link: https://www.econbiz.de/10014052348
This paper studies the implications of money laundering for the optimal design of central bank digital currency (CBDC). I build a general equilibrium framework to explicitly allow money laundering by agents and income audits by a government. I find that as long as CBDC offers less anonymity than...
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