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Ludger Linnemann 《The Scandinavian journal of economics》2004,106(2):273-297
A dynamic general equilibrium business cycle model is constructed with staggered price adjustment, monopolistic wage setting and distortionary taxation. The government purchases goods, runs an unemployment benefit system and balances its budget through a proportional tax on labour income. A temporary tax‐financed increase in government expenditures can lower the tax rate through a demand‐induced widening of the tax base. It is shown analytically that this allows private consumption to rise, under realistic conditions, despite the negative wealth effect of increased fiscal spending. 相似文献
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We examine whether the sorting of high- and low-achieving students into classes of different sizes results in a regressive or compensatory pattern of class sizes for 18 national school systems. Sorting effects are identified by subtracting the causal effect of class size on performance from their total correlation. Our empirical results reveal strongly compensatory patterns of sorting within and especially between schools in many countries. Only the United States, which has a decentralized education finance and considerable residential mobility, exhibits regressive between-school sorting. Between-school sorting is more compensatory in systems with ability tracking. Within-school sorting is more compensatory where administrators rather than teachers assign students to classrooms. 相似文献
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Sovereign risk premiums in the European government bond market 总被引:1,自引:0,他引:1
This paper provides a study of bond yield differentials among EU government bonds on the basis of a unique data set of issue spreads in the US and DM (Euro) bond market between 1993 and 2009. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk premiums which increase with fiscal imbalances and depend negatively on the issuer’s relative bond market size. The start of the European Monetary Union has shifted market attention to deficit and debt service payments as key measures of fiscal soundness and eliminated liquidity premiums in the euro area. With the financial crisis, the cost of loose fiscal policy has increased considerably. 相似文献
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This study looks at the characteristics and determinants of booms and busts in housing prices for a sample of eighteen industrialised countries over the period 1980–2007. From an historical perspective, we find that recent housing booms have been amongst the longest in the past four decades. Estimates of a Multinomial Probit model suggest that domestic credit and interest rates have a significant influence on the probability of booms and busts occurring. Moreover, international liquidity plays a significant role for the occurrence of housing booms and—in conjunction with banking crises—for busts. We also find that the deregulation of financial markets has strongly magnified the impact of the domestic financial sector on the occurrence of booms. 相似文献
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Virtually No Effect? Different Uses of Classroom Computers and their Effect on Student Achievement 下载免费PDF全文
Oliver Falck Constantin Mang Ludger Woessmann 《Oxford bulletin of economics and statistics》2018,80(1):1-38
Most studies find little to no effect of classroom computers on student achievement. We suggest that this null effect may combine positive effects of computer uses without equivalently effective alternative traditional teaching practices and negative effects of uses that substitute more effective teaching practices. Our correlated random effects models exploit within‐student between‐subject variation in different computer uses in the international TIMSS test. We find positive effects of using computers to look up information and negative effects of using computers to practice skills, resulting in overall null effects. Effects are larger for students with high socioeconomic status and mostly confined to developed countries. 相似文献
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西方国家宪政层面上的制度化政治反对模式主要有五种,其主要类别有:(1)英国:以议会为中心,但少数党派无否决权及共同执政权的反对模式;(2)德国:以议会为中心,但少数党派有很强的否决权及共同执政权的反对模式;(3)法国:议会-总统政治反对模式;(4)美国:分权政治反对模式;(5)瑞士:直接民主反对模式.本文对这五种政治反对模式进行了详细的比较研究. 相似文献
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