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Publish and perish : creative destruction and macroeconomic theory
Chatelain, Jean-Bernard; Ralf, Kirsten - 2017
business cycles theory and testing inflation persistence. …
Persistent link: https://www.econbiz.de/10011597938
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The case for GDP-linked sukuk
Rahman, Arshadur - In: Sovereign GDP-linked bonds : rationale and design, (pp. 79-88). 2018
Persistent link: https://www.econbiz.de/10012054734
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Bubbles in a Secular Stagnation Economy
Lu, Jason - 2017
The global fall in interest rates in recent decades has raised the possibility of a negative natural rate of interest. The secular stagnation hypothesis argues that a negative natural rate of interest is the underlying cause of the Great Recession. In this paper I demonstrate the role of bubbles...
Persistent link: https://www.econbiz.de/10012960801
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Convenience Yields, Inflation, and Growth
Krek, Oliver - 2022
This paper investigates the implications of convenience yields for inflation and long-term growth in a model of the … fiscal theory. The government's debt valuation equation links convenience yields to inflation and taxation which affects the … incentives to innovate. Convenience yields affect inflation through a standard seignorage channel as well as through a novel …
Persistent link: https://www.econbiz.de/10013291364
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Understanding asset correlations
Burkhardt, Dominic; Hasseltoft, Henrik - 2012 - This draft: September 2012
We document an inverse relation between stock-bond correlations and correlations of growth and inflation. We find that … rising inflation uncertainty lowers stock prices but can either lower or raise nominal bond prices depending on whether … inflation is counter- or procyclical. We show that the time-varying comovement of growth and inflation has important …
Persistent link: https://www.econbiz.de/10009684165
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From Long-Run Utopia to Technical Expertise : Solow's Growth Model as a Multipurpose Design
Halsmayer, Verena - 2014
Combining concrete policy-oriented modeling strategies of World War II with what was received as traditional neoclassical theory, in 1956 Robert Solow constructed a simple, clean, and smooth-functioning “design” model that served many different purposes. As a working object it enabled...
Persistent link: https://www.econbiz.de/10013054604
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Natural Rates of Interest and Sustainable Growth
Garrison, Roger W. - 2013
The evolution of macroeconomic theory and monetary policy has brought us to a state that calls for critical reflection. It is undoubtedly true that no newcomer to the field can even begin to understand the current state of macroeconomics and policy formulation without understanding just how,...
Persistent link: https://www.econbiz.de/10013083911
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Measuring the natural rate of interest in Brazil
Maka, Alexis - 2023
Persistent link: https://www.econbiz.de/10014428785
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Capital Taxation, Long-run Growth, and Bequests
Kunze, Lars - 2009
It has been shown that higher capital taxes can have a growth-enhancing effect when combined with a revenue-compensating cut in wage taxes (Uhlig and Yanagawa 1996; European Economic Review 40, 1521-1540) or with an expansion in productivity-increasing public services (Rivas 2003; European Economic...
Persistent link: https://www.econbiz.de/10010265806
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Growth and the ageing Joneses
Fisher, Walter H. (contributor); Heijdra, Ben J. (contributor) - 2008
We incorporate Keeping-up-with-the-Joneses (KUJ) preferences into the Blanchard-Yaari (BY) framework and develop, using an AK technology, a model of balanced growth. In this context we investigate status preference, demographic, and pension policy shocks. We find that a higher degree of KUJ...
Persistent link: https://www.econbiz.de/10003790968