Three Sides of Harberger Triangles
... argument due essentially to the engineer Jules Dupuit . . . .’’ Hotelling analyzes the difficulty of applying Dupuit’s method to cases in which several prices change simultaneously. It might seem that such situations can be handled by calculating deadweight loss triangles separately for each taxed c ...
... argument due essentially to the engineer Jules Dupuit . . . .’’ Hotelling analyzes the difficulty of applying Dupuit’s method to cases in which several prices change simultaneously. It might seem that such situations can be handled by calculating deadweight loss triangles separately for each taxed c ...
Remittances and Household Welfare: A Case Study of
... Remittance (Million US$) Source: BMET website, available: www.bmet.org.bd, downloaded 12 December 2009. ...
... Remittance (Million US$) Source: BMET website, available: www.bmet.org.bd, downloaded 12 December 2009. ...
NBER WORKING PAPER SERIES EVALUATING LABOR MARKET REFORMS: A GENERAL EQUILIBRIUM APPROACH
... rates (see OECD, 1994, for an example of this view). Following this belief and hastened by the worsening of unemployment rates during the 1980s, several European countries undertook institutional reforms aimed at deregulating labor markets. A common feature of these reforms was the elimination of mo ...
... rates (see OECD, 1994, for an example of this view). Following this belief and hastened by the worsening of unemployment rates during the 1980s, several European countries undertook institutional reforms aimed at deregulating labor markets. A common feature of these reforms was the elimination of mo ...
... exact answers, in other instances he appears to favor holding income and consumption levels constant, formulating demand curves on the basis of amounts that consumers would willingly pay to obtain varying quantities of the good in question. A practical defense of Dupuit’s method is provided by Harol ...
Guns Versus Butter Tradeoff: The Theory of Defense Quality Factor
... constantly need or cannot maintain due to exorbitant expenses. An example for this is the Heavy Airlift Wing composed of three C-17 aircrafts located in Papa Air Base, Hungary, and financed by a 12-country consortium [18]. Similar saving efforts are also shown in the framework of bilateral or triple ...
... constantly need or cannot maintain due to exorbitant expenses. An example for this is the Heavy Airlift Wing composed of three C-17 aircrafts located in Papa Air Base, Hungary, and financed by a 12-country consortium [18]. Similar saving efforts are also shown in the framework of bilateral or triple ...
Gasoline Demand, Pricing Policy and Social Welfare in
... constant marginal cost) up to the capacity constraint, at which point it is assumed to be vertical. Gasoline demand per capita was modeled as a function of real income per capita, the real gasoline price, and an additional term that captured the effect of non-economic factors including energy effici ...
... constant marginal cost) up to the capacity constraint, at which point it is assumed to be vertical. Gasoline demand per capita was modeled as a function of real income per capita, the real gasoline price, and an additional term that captured the effect of non-economic factors including energy effici ...
Optimal Automatic Stabilizers
... we show there is little role for fiscal policy to stabilize the business cycle if prices are very flexible or if monetary policy is very aggressive. Our third and final contribution is to calculate the optimal automatic stabilizers quantitatively in the presence of business cycles. We do so by measu ...
... we show there is little role for fiscal policy to stabilize the business cycle if prices are very flexible or if monetary policy is very aggressive. Our third and final contribution is to calculate the optimal automatic stabilizers quantitatively in the presence of business cycles. We do so by measu ...
Optimal Automatic Stabilizers
... we show there is little role for fiscal policy to stabilize the business cycle if prices are very flexible or if monetary policy is very aggressive. Our third and final contribution is to calculate the optimal automatic stabilizers quantitatively in the presence of business cycles. We do so by measu ...
... we show there is little role for fiscal policy to stabilize the business cycle if prices are very flexible or if monetary policy is very aggressive. Our third and final contribution is to calculate the optimal automatic stabilizers quantitatively in the presence of business cycles. We do so by measu ...
Reconciling Hayek s and Keynes views of recessions
... economy may function particularly inefficiently when it inherits a large stock of capital from the past. In particular, we will want to make clear why agents in an economy can be worse off when inherited capital goods are too high. For the mechanism to be as transparent as possible, we focus mainly ...
... economy may function particularly inefficiently when it inherits a large stock of capital from the past. In particular, we will want to make clear why agents in an economy can be worse off when inherited capital goods are too high. For the mechanism to be as transparent as possible, we focus mainly ...
PAPER THE SOCIAL COST OF LABOR, AND PROJECT EVALUATION: A GENERAL APPROACH
... shadow prices probably stands Out as the most important contribution of economic theory to the practice of economic development in recent decades-. A key aspect of this methodology is the determination of the shadow wage, ...
... shadow prices probably stands Out as the most important contribution of economic theory to the practice of economic development in recent decades-. A key aspect of this methodology is the determination of the shadow wage, ...
NBER WORKING PAPER SERIES UNION Matteo Cacciatore
... wedges with respect to the first-best allocation are sizable. Regulation makes cyclical unemployment fluctuations too volatile, which amplifies their welfare cost. The Ramsey policymaker uses positive long-run inflation to mitigate long-run inefficiencies, and (s)he uses departures from price stabilit ...
... wedges with respect to the first-best allocation are sizable. Regulation makes cyclical unemployment fluctuations too volatile, which amplifies their welfare cost. The Ramsey policymaker uses positive long-run inflation to mitigate long-run inefficiencies, and (s)he uses departures from price stabilit ...
NBER WORKING PAPER SERIES LABOR MARKET RIGIDITIES, TRADE AND UNEMPLOYMENT Elhanan Helpman
... Cambridge, MA 02138 and NBER [email protected] ...
... Cambridge, MA 02138 and NBER [email protected] ...
NBER WORKING PAPER SERIES SOME NUMERICAL SIMULATION RESULTS
... model to base case data for 2008 and use a model formulation where there are heterogeneous goods across countries. The gains from trade bargaining accrue more heavily to other countries when we use 2008 data rather than later year data. We then consider the impacts out into the future of different c ...
... model to base case data for 2008 and use a model formulation where there are heterogeneous goods across countries. The gains from trade bargaining accrue more heavily to other countries when we use 2008 data rather than later year data. We then consider the impacts out into the future of different c ...
NBER WORKING PAPER SERIES WAGES AND THE Mark Bus Yongsung Chang
... This presents consumers with a tradeoff. If the consumer works more intensely in the market, he is left with less energy for non-market activities. (Becker, 1985, introduces such a constraint.) More generally, we can envision a number of ways in which consumers ...
... This presents consumers with a tradeoff. If the consumer works more intensely in the market, he is left with less energy for non-market activities. (Becker, 1985, introduces such a constraint.) More generally, we can envision a number of ways in which consumers ...
PDF - Federal Reserve Bank of San Francisco
... that would obtain by fully stabilizing prices. While this ’search gap’ is large, monetary policy is able to close only a tiny fraction of it. The monetary policy outcome hinges both on the wage-setting process and on the efficiency of the steady state. When wages are Nash-bargained in every period but ...
... that would obtain by fully stabilizing prices. While this ’search gap’ is large, monetary policy is able to close only a tiny fraction of it. The monetary policy outcome hinges both on the wage-setting process and on the efficiency of the steady state. When wages are Nash-bargained in every period but ...
WELFARE AND NORDIC CRISIS - MANAGEMENT STRATEGIES
... Tariffs and Trade (GATT) to regulate monetary and trade relations among advanced economies (Eichengreen 2008; Ruggie 1982). The defining feature of the system was that it was predicated upon interventionism at the domestic level, allowing governments to pursue expansive social and economies policies ...
... Tariffs and Trade (GATT) to regulate monetary and trade relations among advanced economies (Eichengreen 2008; Ruggie 1982). The defining feature of the system was that it was predicated upon interventionism at the domestic level, allowing governments to pursue expansive social and economies policies ...
UNDERSTANDING CAPITALISM 3rd Edition By Samuel Bowles
... UNDERSTANDING CAPITALISM 3rd Edition By Samuel Bowles, Richard Edwards, and Frank Roosevelt ...
... UNDERSTANDING CAPITALISM 3rd Edition By Samuel Bowles, Richard Edwards, and Frank Roosevelt ...
Technology di¤usion and increasing income inequality
... The US economy experienced a continuous increase in income inequality over the past three decades. During the same period, a major technological change took place. Information and Communication Technologies (henceforth ICT) spread into the economy. Macroeconomic literature provided the link between ...
... The US economy experienced a continuous increase in income inequality over the past three decades. During the same period, a major technological change took place. Information and Communication Technologies (henceforth ICT) spread into the economy. Macroeconomic literature provided the link between ...
The rise of the maquiladoras
... their manufacturing industries. One of the front runners of this policy change was Mexico. Beginning in 1984, it began reducing restrictions on foreign direct investment and, by the end of 1993, basically lifted all restrictions on foreign direct investment.1 The creation of the North American Free ...
... their manufacturing industries. One of the front runners of this policy change was Mexico. Beginning in 1984, it began reducing restrictions on foreign direct investment and, by the end of 1993, basically lifted all restrictions on foreign direct investment.1 The creation of the North American Free ...
A theory of trade in a global production network
... and Kortum (2002), Yi (2003), and Costinot et al. (2013), have made clear that production fragmentation has important implications for the sensitivity of national incomes to changes in trade barriers or factor costs.3 Our contribution to that literature is that we offer, by means of our novel counte ...
... and Kortum (2002), Yi (2003), and Costinot et al. (2013), have made clear that production fragmentation has important implications for the sensitivity of national incomes to changes in trade barriers or factor costs.3 Our contribution to that literature is that we offer, by means of our novel counte ...
Endogenous Wage Indexation and Aggregate
... There are strong indications that price and wage inflation persistence have changed over time. Concerning prices, Cogley, Primiceri and Sargent (2010) show that inflation gap inertia has decreased in the U.S. since the post-Volcker era, which they attribute to an improved stability of the Fed’s long ...
... There are strong indications that price and wage inflation persistence have changed over time. Concerning prices, Cogley, Primiceri and Sargent (2010) show that inflation gap inertia has decreased in the U.S. since the post-Volcker era, which they attribute to an improved stability of the Fed’s long ...
The rise and fall of government spending in affluent democracies
... Shelton, 2007). Similarly, unemployment has historically increased social insurance spending (Roubini and Sachs, 1989; Wilensky, 2002), while deindustrialization and the ensuing worker insecurity demanded the expansion of welfare states (Iversen and Cusack, 2000). Finally, many claim that trade open ...
... Shelton, 2007). Similarly, unemployment has historically increased social insurance spending (Roubini and Sachs, 1989; Wilensky, 2002), while deindustrialization and the ensuing worker insecurity demanded the expansion of welfare states (Iversen and Cusack, 2000). Finally, many claim that trade open ...
The politics of fiscal policy during economic downturns, 1981-2010
... stimulus. Rueda’s argumentation might also be taken to imply that Left governments have become more favorable to tax cuts (rather than spending on unemployment benefits) as a means to stimulate aggregate demand. In an important new book, Starke et al. (2013) argue that generous social welfare provis ...
... stimulus. Rueda’s argumentation might also be taken to imply that Left governments have become more favorable to tax cuts (rather than spending on unemployment benefits) as a means to stimulate aggregate demand. In an important new book, Starke et al. (2013) argue that generous social welfare provis ...
ARE PRICES TOO STICKY? NATIONAL BUREAU OF ECONOMIC RESEARCH Cambridge, MA 02138
... option of paying a menu cost and adjusting the price. This case Is complicated, and so we start with a simpler one In Section III. In the simpler model, individuals must decide ex ante whether to pay the menu cost. In other words, a firm can either pay the menu cost, in which case It can costlessly ...
... option of paying a menu cost and adjusting the price. This case Is complicated, and so we start with a simpler one In Section III. In the simpler model, individuals must decide ex ante whether to pay the menu cost. In other words, a firm can either pay the menu cost, in which case It can costlessly ...
Abolishing GDP
... Apart from this, it should be realized that, although an intertemporal welfare function is usually posed as a truth in theoretical economic growth analyses, it lacks any basis in empirical studies (Section 2.4). One can, of course, claim that people take expected future own-welfare effects of their ...
... Apart from this, it should be realized that, although an intertemporal welfare function is usually posed as a truth in theoretical economic growth analyses, it lacks any basis in empirical studies (Section 2.4). One can, of course, claim that people take expected future own-welfare effects of their ...