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Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook x Microeconomics x clear all

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The Apostles’ justice: Cambridge reflections on economic inequality from Moore’s Principia Ethica to Keynes’s General Theory (1903–36)

Daniela Donnini Macciò.

in Cambridge Journal of Economics

May 2016; p ublished online September 2015 .

Journal Article. Subjects: Individual Economists; Microeconomics; Welfare Economics; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 16131 words.

This article explores economic justice in the writings of the Cambridge authors G. L. Dickinson, G. Shove, R. Hawtrey, D. H. Robertson, H.O. Meredith, J. H. Bell and F. Ramsey, who were...

CAN LOBBYING PREVENT ANTICOMPETITIVE OUTCOMES? EVIDENCE ON CONSUMER MONOPSONY IN TELECOMMUNICATIONS

Dino Falaschetti.

in Journal of Competition Law & Economics

December 2008; p ublished online June 2008 .

Journal Article. Subjects: Marketing; Analysis of Collective Decision-making; Energy and Utilities; Antitrust Issues and Policies; Law and Economics; Regulation and Industrial Policy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 12089 words.

When basic competition rules cannot stop market power abuses, industry-specific regulations can improve economic performance. But regulations are also more immediately exposed to political...

Does Europe need neoliberal reforms?

M Panić.

in Cambridge Journal of Economics

January 2007; p ublished online December 2006 .

Journal Article. Subjects: International Economics; Microeconomics; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Labour and Demographic Economics; History of Economic Thought; Capitalist Systems; Industrial Organization. 12534 words.

This paper examines the neoliberal claim that the only way to achieve sustainable growth and full employment is to abandon Keynesian macroeconomic management and the welfare state and bring...

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Efficient Allocations in Dynamic Private Information Economies with Persistent Shocks: A First-Order Approach

Marek Kapička.

in The Review of Economic Studies

July 2013; p ublished online January 2013 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 11390 words.

This article studies efficient allocations in a dynamic private information economy with a continuum of idiosyncratic shocks that are persistent. I develop a first-order approach for this...

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Fiscal Policy and Civil Conflict in Africa

Alvaro Aguirre.

in Journal of African Economies

August 2016; p ublished online August 2016 .

Journal Article. Subjects: Analysis of Collective Decision-making; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 9877 words.

I explore empirically the effect of fiscal policy responses to economic shocks on the likelihood of conflict in Africa. The main finding is that a countercyclical fiscal response to these...

From global imbalances to global reorganisations

Robert Wade.

in Cambridge Journal of Economics

July 2009; p ublished online July 2009 .

Journal Article. Subjects: International Economics; Microeconomics; Money and Interest Rates; International Relations and International Political Economy; Monetary Policy, Central Banking, and the Supply of Money and Credit; International Finance; International Financial Markets; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 13352 words.

The world feels itself to be in transition, but to what is unclear. Will the liberal market model retain its normative primacy once some semblance of normality is restored, or will other...

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Getting from Economic Analysis to Policy Advice

James T. Bonnen and David B. Schweikhardt.

in Applied Economic Perspectives and Policy

January 1998; p ublished online January 1998 .

Journal Article. Subjects: Agricultural, Environmental, and Natural Resource Economics; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Analysis of Collective Decision-making. 0 words.

Economists play several distinct but necessary roles in the process of translating economic knowledge from the discipline to use in policy decisions. Economists engaged in disciplinary...

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House Prices and Consumer Spending

David Berger, Veronica Guerrieri, Guido Lorenzoni and Joseph Vavra.

in The Review of Economic Studies

July 2018; p ublished online October 2017 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Prices, Business Fluctuations, and Cycles; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Household Behaviour and Family Economics; Intertemporal Choice and Growth; Household Analysis. 19460 words.

Abstract

Recent empirical work shows large consumption responses to house price movements. This is at odds with a prominent theoretical view which, using the...

The Influence of the Home Owners' Loan Corporation on Housing Markets During the 1930s

Price V. Fishback, Alfonso Flores-Lagunes, William C. Horrace, Shawn Kantor and Jaret Treber.

in The Review of Financial Studies

June 2011; p ublished online December 2010 .

Journal Article. Subjects: Analysis of Collective Decision-making; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 13833 words.

Problems with mortgage financing are widely considered to be a major cause of the recent financial meltdown. Several modern programs have been designed to mimic the Home Owners' Loan...

The magic triangle of macroeconomics: how do European countries score?

Heinz Welsch.

in Oxford Economic Papers

January 2011; p ublished online September 2010 .

Journal Article. Subjects: Welfare and Poverty; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Analysis of Collective Decision-making. 8142 words.

This paper studies the macroeconomic performance of the EU-12 member countries over 1990–2002 from the point of view of the subjective well-being (life satisfaction) of the citizens. The...

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Modelling a complex world: improving macro-models

Warwick J McKibbin and Andrew Stoeckel.

in Oxford Review of Economic Policy

January 2018; p ublished online January 2018 .

Journal Article. Subjects: Econometrics and Mathematical Economics; Econometric Modelling; Mathematical Methods; Programming Methods; Mathematical and Simulation Modelling; General Equilibrium and Disequilibrium; Intertemporal Choice and Growth; General Aggregative Models; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Macroeconomic Aspects of International Trade and Finance. 7587 words.

Abstract

Macro models have come under criticism for their ability to understand or predict major economic events such as the global financial crisis and its...

Non-linear Capital Taxation Without Commitment

Emmanuel Farhi, Christopher Sleet, Iván Werning and Sevin Yeltekin.

in The Review of Economic Studies

October 2012; p ublished online January 2012 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Analysis of Collective Decision-making; Taxation, Subsidies, and Revenue. 11038 words.

We study efficient non-linear taxation of labour and capital in a dynamic Mirrleesian model incorporating political economy constraints. Policies are chosen sequentially over time, without...

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The oil trading markets, 2003–10: analysis of market behaviour and possible policy responses

Adair Turner, Jon Farrimond and Jonathan Hill.

in Oxford Review of Economic Policy

January 2011; p ublished online January 2011 .

Journal Article. Subjects: Economics; Prices, Business Fluctuations, and Cycles; Economic History; Energy Economics; General Equilibrium and Disequilibrium; Market Structure and Pricing; Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 14356 words.

This paper considers price movements in the oil markets between 2003 and 2010 and seeks to explain the significant trends in this period. It notes that the oil market is by its very nature...

Optimal Fiscal Policy with Recursive Preferences

Anastasios G Karantounias.

in The Review of Economic Studies

October 2018; p ublished online January 2018 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue; National Budget, Deficit, and Debt. 16892 words.

Abstract

I study the implications of recursive utility, a popular preference specification in macro-finance, for the design of optimal fiscal policy. Standard...

Optimal Taxation in a Limited Commitment Economy

Yena Park.

in The Review of Economic Studies

April 2014; p ublished online October 2013 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; General Equilibrium and Disequilibrium; Taxation, Subsidies, and Revenue. 14114 words.

This article studies optimal Ramsey taxation when risk sharing in private insurance markets is imperfect due to limited enforcement. In a limited commitment economy, there are externalities...

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Optimal Taxation with Private Government Information

Christopher Sleet.

in The Review of Economic Studies

October 2004; p ublished online October 2004 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue. 10743 words.

The Ramsey model of fiscal policy implies that taxes should be smooth in the sense of having small variances. In contrast, empirical labour tax processes are smooth in the sense of being...

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Optimal Taxation with Rent-Seeking

Casey Rothschild and Florian Scheuer.

in The Review of Economic Studies

July 2016; p ublished online March 2016 .

Journal Article. Subjects: Microeconomics; General Equilibrium and Disequilibrium; Welfare Economics; Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue; Demand and Supply of Labour; Wages, Compensation, and Labour Costs. 17279 words.

We develop a framework for optimal taxation when agents can earn their income both in traditional activities, where private and social products coincide, and in rent-seeking activities,...

Policy Uncertainty and Corporate Investment

Huseyin Gulen and Mihai Ion.

in The Review of Financial Studies

March 2016; p ublished online September 2015 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Regulation; Corporate Governance; Corporate Regulation. 17098 words.

Using a news-based index of policy uncertainty, we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with...

A Theory of Liquidity and Regulation of Financial Intermediation

Emmanuel Farhi, Mikhail Golosov and Aleh Tsyvinski.

in The Review of Economic Studies

July 2009; p ublished online July 2009 .

Journal Article. Subjects: Financial Regulation; Intertemporal Choice and Growth; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 9817 words.

This paper studies a Diamond-Dybvig model of providing insurance against unobservable liquidity shocks in the presence of unobservable trades. We show that competitive equilibria are...

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Towards a Micro-Founded Theory of Aggregate Labour Supply

Andrés Erosa, Luisa Fuster and Gueorgui Kambourov.

in The Review of Economic Studies

July 2016; p ublished online March 2016 .

Journal Article. Subjects: Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; General Aggregative Models; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Demand and Supply of Labour. 19279 words.

We build a heterogeneous agents life cycle model that captures a large number of salient features of individual male labour supply over the life cycle, by education, both along the...