Cette publication n'a pas de résumé

Cette publication n'a pas de résumé

We investigate the relationship between financial wealth, reservation wages, and labor market transitions. Wealth is assumed to affect the level of the reservation wage and the employment probability. We test for the validity of this assumption by estimating a simultaneous‐equations model of...

Cette publication n'a pas de résumé

Cette publication n'a pas de résumé

Cette publication n'a pas de résumé

Cette publication n'a pas de résumé

Cette publication n'a pas de résumé

This paper should be read as complementary to my last briefing paper (N3, September 2001) The European policy mix At its meeting on 8 November, the Governing Council of the ECB decided to reduce the minimum bid rate on the main refinancing operations of the Eurosystem by 50 basis points to...

In a dynamically efficient economy, can a government roll its debt forever and avoid the need to raise taxes? In a series of examples of economies with zero growth, this paper shows that such Ponzi games may be infeasible even when the average rate of return on bonds is negative, and may be...