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It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by a balanced-budget rule. This paper introduces in an otherwise standard real...
Persistent link: https://www.econbiz.de/10010790380
This paper studies how fiscal policy affects loan market conditions in the US. First, it conducts a Structural Vector-Autoregression analysis showing that the bank spread responds negatively to an expansionary government spending shock, while lending increases. Second, it illustrates that these...
Persistent link: https://www.econbiz.de/10010790417
Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of a (speculative) storage demand shock and to assess how the effects of various...
Persistent link: https://www.econbiz.de/10011242253
Persistent link: https://www.econbiz.de/10012019793
prices, declined more after a corporation was prosecuted or reached a settlement for violations, as compared to corporations … that disclosed earnings disappointments. Also, this study investigated the stock prices of violating corporations compared … repeat offenders for violation two compared to violation one. Opposite to hypothesis, results showed that stock prices for …
Persistent link: https://www.econbiz.de/10009475035
Persistent link: https://www.econbiz.de/10009460843
European countries, but not for the U.S., increased volatility of oil prices significantly depresses real stock returns. The …
Persistent link: https://www.econbiz.de/10009482278
The North American lumber market is integrated and, under normal conditions, provides unhindered access to all suppliers. North American log markets, in contrast, function on different principles: in one principle, a profit allowance for the wood processor plays a role in timber pricing, whereas...
Persistent link: https://www.econbiz.de/10009429424
growth in revenues, TFP growth contributed 1.90 percentage points (pct. pts.); growth in output prices added 1.43 pct. pts …
Persistent link: https://www.econbiz.de/10009429437
differentiation will prove useful at the country level for farm produce seems likely to be misplaced. In order to raise prices, a key …
Persistent link: https://www.econbiz.de/10009429510