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Populism, economic policies and central banking
Agur, Itai; Gnan, Ernest; Masciandaro, Donato; Binder, … - Populism, Economic Policies and Central Banking …; … - 2020
Persistent link: https://www.econbiz.de/10012225066
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Good policy choices even when voters entertain biased beliefs : a model with endogenous valence
Bischoff, Ivo; Siemers, Lars - 2008
In "The Myth of the Rational Voter" Brian Caplan shows that voters entertain systematically biased beliefs on a number of essential issues of economic policy and concludes that this leads democracies to choose bad policies. We introduce the psychological concept of mental models to address...
Persistent link: https://www.econbiz.de/10003865948
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Political Intervention in Economic Activity
Gilles, Enrique - 2010
This paper proposes a political economy explanation of bailouts to declining industries. A model of probabilistic voting is developed, in which two candidates compete for the vote of two groups of the society through tactical redistribution. We allow politicians to have core support groups they...
Persistent link: https://www.econbiz.de/10013136333
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Leaping into the dark : a theory of policy gambles
Anand, Kartik; Gai, Prasanna; König, Philipp Johann - 2020
Why do politicians sometimes pursue policies with uncertain outcomes? We present a model in which politicians are unable to pre-commit to a status quo policy, and where investors and voters face a conflict over the division of output. Politicians may deviate from the status quo and pursue risky...
Persistent link: https://www.econbiz.de/10012173547
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The Myth of Bad Policy Choices : Why Democracies Choose Mediocre Policies
Bischoff, Ivo; Siemers, Lars H.R - 2010
In a game-theoretical approach of probabilistic voting, we introduce biased beliefs among voters and retrospective voting. In order to micro-found biased beliefs we introduce the psychological concept of mental models. We put into perspective the claim that biased beliefs lead to bad policy...
Persistent link: https://www.econbiz.de/10014212900
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Market failure vs. system failure as a rationale for economic policy? : a critique from an evolutionary perspective
Schmidt, Peter - 2015
economic policy which is able to overcome the theory-immanent contradiction of the hitherto evolutionary view on this subject. …
Persistent link: https://www.econbiz.de/10011403857
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Wirtschaftspolitik, Soziale Sicherung und Ökonomische Ethik : drei ordonomische Kurzartikel und zwei Grundlagenreflexionen
Pies, Ingo - 2009
Dieser Beitrag enthält drei Kurzartikel. Der erste behandelt die Wirtschaftspolitik, der zweite die Soziale Sicherung … erste thematisiert einleitend den Bedarf an einer Theorie der modernen Gesellschaft. Die zweite präzisiert abschließend die … theory of modern society. The concluding reflection refers to the theory offered by the ordonomic research program to meet …
Persistent link: https://www.econbiz.de/10011759728
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Darwinism in economics and the evolutionary theory of policy-making
Schubert, Christian - 2009
misguide positive theory development, but that it may also impede the construction of a coherent evolutionary approach to … supposed to be based upon. -- Evolution ; Selection ; Darwinism ; Ontology ; Continuity Hypothesis ; Evolutionary Theory of …
Persistent link: https://www.econbiz.de/10003889718
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Transcending the New Macroeconomic Orthodoxy in the Eurozone : A Post-Keynesian View
Kotarski, Kristijan - 2017
The main aim of this paper is to empirically test the endogenous money hypothesis for the Eurozone. Based on data on loans to private sector, deposits, monetary aggregates, prices and GDP we use three empirical approaches to test the hypothesis: (i) moving correlation; (ii) Granger causality...
Persistent link: https://www.econbiz.de/10012965084
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The Theory of Economic Policy from an Evolutionary Perspective (Die Theorie Der Wirtschaftspolitik Aus Evolutorischer Sicht) (German)
Budzinski, Oliver - 2009
This report on new economic insights summarizes the evolutionary perspective on the theory of economic policy. It …
Persistent link: https://www.econbiz.de/10014201207