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Kotlikoff, Laurence J. - 2021

Generational policy is a fundamental aspect of a nation's fiscal affairs. The policy involves redistributing resources across generations and allocating to particular generations the burden of paying the government's bills. This chapter of the second edition of The Handbook of Public Economics...

Persistent link: https://www.econbiz.de/10013231998

Macroeconomic Volatility in Latin America : A View and Three Case Studies

Caballero, Ricardo J. - 2022

better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and …

Persistent link: https://www.econbiz.de/10013324598

Institutional Causes, Macroeconomic Symptoms : Volatility, Crises and Growth

Acemoglu, Daron; Robinson, James A.; Thaicharoen, Yunyong; … - 2021

Countries that have pursued distortionary macroeconomic policies, including high inflation, large budget deficits and misaligned exchange rates, appear to have suffered more macroeconomic volatility and also grown more slowly during the postwar period. Does this reflect the causal effect of...

Persistent link: https://www.econbiz.de/10013224669

Peronist Beliefs and Interventionist Policies

Di Tella, Rafael - 2010

Argentina and Democrat and Republican voters in the US. While income and education suggest that Peronists (in relative terms …

Persistent link: https://www.econbiz.de/10013135050

Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime

della Paolera, Gerardo; Taylor, Alan M. - 2021

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made …-standard orthodoxy after the final suspension of convertibility in 1929. As elsewhere, fiscal policy in Argentina was conservative, and …

Persistent link: https://www.econbiz.de/10013221515

Sudden Stop, Financial Factors and Economic Collpase in Latin America : Learning from Argentina and Chile

Calvo, Guillermo A.; Talvi, Ernesto - 2021

statement, we compare the polar cases of Chile and Argentina. While Chile exhibited a significant economic slowdown after August … 1998, it did not suffer the excruciating collapse suffered by Argentina, where even the payments system came to a full stop …. We attribute their difference to the fact that Chile is more open to trade than Argentina, and that it appears to suffer …

Persistent link: https://www.econbiz.de/10013222318

Fiscal Policy and Macroeconomic Uncertainty in Developing Countries : The Tale of the Tormented Insurer

Mendoza, Enrique G. - 2007

Governments in emerging markets often behave like a quot;tormented insurer,quot; trying to use non-state-contingent debt instruments to avoid cuts in payments to private agents despite large fluctuations in public revenues. In the data, average public debt-GDP ratios decline as the variability...

Persistent link: https://www.econbiz.de/10012778262

"Unfunded Liabilities" and Uncertain Fiscal Financing

Davig, Troy - 2013

We develop a rational expectations framework to study the consequences of alternative means to resolve the "unfunded liabilities'' problem---unsustainable exponential growth in federal Social Security, Medicare, and Medicaid spending with no plan to finance it. Resolution requires specifying a...

Persistent link: https://www.econbiz.de/10013095076

Politics, Relief, and Reform : The Transformation of America's Social Welfare System During the New Deal

Wallis, John Joseph; Fishback, Price V.; Kantor, Shawn - 2022

The American social welfare system was transformed during the 1930s. Prior to the New Deal public relief was administered almost exclusively by local governments. The administration of local public relief was widely thought to be corrupt. Beginning in 1933, federal, state, and local governments...

Persistent link: https://www.econbiz.de/10013324497

The Role of Economic Policy after the New Classical Macroeconomics

Buiter, Willem H. - 2010

The paper considers the implications of the rational expectations New Classical Macroeconomics revolution for the 'rules versus discretion' debate. The following issues are covered: 1) The ineffectiveness of anticipated stabilization policy, 2) Non-clausal models and rational expectations, 3)...

Persistent link: https://www.econbiz.de/10012760072

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