排序方式: 共有37条查询结果,搜索用时 15 毫秒
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This paper examines the extent to which monetary policy is manipulated for political purposes during elections. We do not detect political monetary cycles in advanced countries or developing nations with independent central banks. We do find evidence, however, in developing countries that lack central bank independence. Furthermore, we find some evidence that these cycles are not caused by monetization of election-related fiscal expansions. This suggests that pressure by politicians on the central bank to exploit the Phillips curve may be an important factor in generating political monetary cycles. 相似文献
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ADAM FOX 《The Economic history review》2009,62(2):388-404
This paper offers a reassessment of the origins and derivation of many of Sir William Petty's economic ideas, based on an analysis of his unpublished papers. Petty's archive makes clear what a large part Ireland played in his writings, and it is suggested that this preoccupation is essential to an appreciation of him as an economist. It also demonstrates the point that Petty was not principally a theorist but rather a practical political economist whose schemes for the enrichment of the king's dominions were inspired by the underdevelopment which he experienced at first hand in Ireland. 相似文献
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ADAM B. ASHCRAFT 《Journal of Money, Credit and Banking》2008,40(2-3):273-294
I document evidence that a bank affiliated with a multi-bank holding company (MBHC) is significantly safer than either a stand-alone bank or a bank affiliated with a one-bank holding company. Not only does MBHC affiliation reduce the probability of future financial distress, but distressed affiliated banks are also more likely to receive capital injections, recover more quickly, and are less likely to fail over the next year. Moreover, the measured benefits of affiliation are much larger than those that existed before recent reforms of bank holding company regulation, suggesting that much of the observed benefit can be attributed to regulation and not the market. 相似文献
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This paper computes the change in welfare associated with the introduction of incentives. We calculate by how much the welfare gains of increased output due to incentives outweigh workers' disutility from increased effort. We accomplish this by studying the use of incentives by a firm in the check-clearing industry. Using this firm's production records, we model and estimate the worker's dynamic effort decision problem. We find that the firm's incentive scheme has a large effect on productivity, raising it by 12% over the sample period for the average worker. Using our parameter estimates, we show that the cost of increased effort due to incentives is equal to the dollar value of a 5% rise in productivity. Welfare is measured as the output produced minus the cost of effort; hence, the net increase in the average worker's welfare due to the introduction of the firm's bonus plan is 7%. Under a first-best scheme, we find that the net increase in welfare is 9%. 相似文献
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The repo market has been viewed as a potential source of financial instability since the 2007 to 2009 financial crisis, based in part on findings that margins increased sharply in a segment of this market. This paper provides evidence suggesting that there was no system‐wide run on repo. Using confidential data on tri‐party repo, a major segment of this market, we show that, the level of margins and the amount of funding were surprisingly stable for most borrowers during the crisis. However, we also document a sharp decline in the tri‐party repo funding of Lehman in September 2008. 相似文献
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本研究通过一个基于内生增长理论的生产函数模型分析了中国高技术产业行业部门水平上各类技术投入和生产率变动之间的关系.文章使用永续盘存法估算了资本存量和R&D存量,估计了R&D存量和其他知识存量的产出弹性系数,结果显示,当考虑各类技术投入的单独作用时,R&D与国内购入技术的作用比较显著,而当考虑各类技术的交互影响时,R&D与从国外引进技术的合作对生产率的作用非常显著,反映了它们之间的互补关系,即R&D具有提高进口技术吸收能力的作用. 相似文献