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This paper demonstrates how time consistency of the Ramsey policy - the optimal fiscal and monetary policy under commitment - can be achieved. Each government should leave its successor with a unique maturity structure for the nominal and indexed debt, such that the marginal benefit of a...
Persistent link: https://www.econbiz.de/10013232768
order to stabilize the real economy. A modified Taylor curve, the forecast Taylor curve, showing the tradeoff between the … achieved an efficient stabilization of both inflation and the real economy and what relative weight on the stability of … inflation and the real economy has effectively been applied. Ex ante evaluation may be more relevant than evaluation ex post …
Persistent link: https://www.econbiz.de/10013150832
Ban-the-box (BTB) laws, which prevent employers from asking prospective employees about their criminal histories at initial job screenings, are intended to increase employment opportunities and reduce economic incentives for crime. This study is the first to explore the relationship between BTB...
Persistent link: https://www.econbiz.de/10012925282
The Centers for Disease Control and Prevention (CDC) deems large indoor gatherings without social distancing the “highest risk” activity for COVID-19 contagion. On June 20, 2020, President Donald J. Trump held his first mass campaign rally following the US coronavirus outbreak at the indoor...
Persistent link: https://www.econbiz.de/10012828465
This study exploits variations in the timing of welfare reform implementation in the U.S. in the 1990s to identify plausibly causal effects of welfare reform on a range of social behaviors of the next generation as they transition to adulthood. We focus on behaviors that are important for...
Persistent link: https://www.econbiz.de/10012893087
We study the spillover effects of prescription drug monitoring programs (PDMPs) on crime, and in the process inform how policies that restrict access to Rx opioids per se within the healthcare system would impact broader non-health domains. In response to the substantial increase in opioid use...
Persistent link: https://www.econbiz.de/10012911712
Research on the effects of prenatal care on birth outcomes has produced a patchwork of findings that are not easily summarized. Studies have used varying definitions of prenatal care, leading to estimates that are difficult to compare. The identification of causal effects is particularly...
Persistent link: https://www.econbiz.de/10012913376
One of the main purposes of the Patient Protection and Affordable Care Act (ACA) is to enable Americans to make more productive use of their time. This is apparent in the rationale given for the ACA's extension of dependent care coverage, which requires employer-sponsored insurance plans that...
Persistent link: https://www.econbiz.de/10013011920
This study exploits differences in the implementation of welfare reform across states and over time to identify causal effects of maternal work incentives, and by inference employment, on youth arrests between 1990 and 2005, the period during which welfare reform unfolded. We consider both...
Persistent link: https://www.econbiz.de/10012965427
The minimum wage has increased in multiple states over the past three decades. We examine the impact of the state minimum wage on infant health. Using data on the universe of births in the US over 24 years, we find that an increase in the minimum wage is associated with an increase in birth...
Persistent link: https://www.econbiz.de/10012988075