Showing 61 - 70 of 48,654
Persistent link: https://www.econbiz.de/10011951367
Interest-rate spreads fluctuate widely across time and countries. We characterize their behavior using some 3,200 quarterly observations for 21 advanced and 17 emerging economies since the early 1990s. Before the financial crisis, spreads are 10 times more volatile in emerging economies than in...
Persistent link: https://www.econbiz.de/10012162762
Persistent link: https://www.econbiz.de/10012221934
We review the determinants of the discretionary fiscal policy action of governments in the euro area and in other advanced economies during the past 20 years. This is done by estimating fiscal reaction functions using dynamic panel techniques and country-by-country estimates. The results suggest...
Persistent link: https://www.econbiz.de/10012135940
Persistent link: https://www.econbiz.de/10012202832
Persistent link: https://www.econbiz.de/10014468715
Between 1890 and 2004, total factor productivity (TFP) growth in the United States has been strongly procyclical, while labor productivity growth has been mildly so. This chapter argues that these results are not simply a statistical artifact, as Mathew Shapiro and others have argued....
Persistent link: https://www.econbiz.de/10014220131
This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present. The idea of balancing the budget over the cycle was first conceived in Sweden in the 1930s by the economists of the Stockholm School and was soon reinterpreted and incorporated into...
Persistent link: https://www.econbiz.de/10012970752
We compare the banking crises in 2008-09 and in the Great Depression, and analyse differences in the policy response to the two crises in light of the prevailing international monetary systems. The scale of the 2008-09 banking crisis, as measured by falls in international short-term indebtedness...
Persistent link: https://www.econbiz.de/10013135323
Modern growth theory derives mostly from Robert Solow's “A Contribution to the Theory of Economic Growth” (1956). Solow's own interpretation locates the origins of his “Contribution” in his view that the growth model of Roy Harrod implied a tendency toward progressive collapse of the...
Persistent link: https://www.econbiz.de/10013084232