Narrow search
Showing 1 - 10 of 76
Cover Image
The Catch-22 of External Validity in the Context of Constraints to Firm Growth
Fischer, Greg; Karlan, Dean S. - C.E.P.R. Discussion Papers - 2015
We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External...
Persistent link: https://www.econbiz.de/10011184078
Cover Image
Five Open Questions About Prediction Markets
Wolfers, Justin; Zitzewitz, Eric - C.E.P.R. Discussion Papers - 2006
Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management - in both the public and private sectors. This paper outlines five open questions in the literature,...
Persistent link: https://www.econbiz.de/10005504341
Cover Image
Policy Choice: Theory and Evidence from Commitment via International Trade Agreements
Limão, Nuno; Tovar, Patricia - C.E.P.R. Discussion Papers - 2009
Why do governments employ inefficient policies to redistribute income towards special interest groups (SIGs) when more efficient ones are available? To address this puzzle we derive and test predictions for a set of policies where detailed data is available and an efficiency ranking is feasible:...
Persistent link: https://www.econbiz.de/10005136624
Cover Image
The `Walters' Critique of the EMS: A Case of Inconsistent Expectations
Miller, Marcus; Sutherland, Alan - C.E.P.R. Discussion Papers - 1990
Alan Walters has suggested that the European Monetary System will prove dynamically unstable when capital controls are removed. The argument is analysed within a model that includes overlapping contracts. It is found that the short-run effects predicted by Walters only arise when the credibility...
Persistent link: https://www.econbiz.de/10005504500
Cover Image
Robust Learning Stability with Operational Monetary Policy Rules
Evans, George W.; Honkapohja, Seppo - C.E.P.R. Discussion Papers - 2008
We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …
Persistent link: https://www.econbiz.de/10005498187
Cover Image
UK Phillips Curves and Monetary Policy
Haldane, Andrew; Quah, Danny - C.E.P.R. Discussion Papers - 1999
This paper documents some stylized facts on evolving UK Phillips curves, and shows how these differ from their US versions. We interpret UK Phillips curve dynamics in a positive theory of monetary policy - how policy-maker attitudes on the Phillips curve have evolved since the 1950s - rather...
Persistent link: https://www.econbiz.de/10005067633
Cover Image
The Dynamic Stability of the European Monetary System
Melitz, Jacques; Michel, Philippe - C.E.P.R. Discussion Papers - 1986
make an attempt to explain the dynamic stability of the system. This attempt gives a central place to movements in desired …
Persistent link: https://www.econbiz.de/10005656230
Cover Image
On the Stability of the Two-Sector Neoclassical Growth Model with Externalities
Herrendorf, Berthold; Valentinyi, Akos - C.E.P.R. Discussion Papers - 2002
This Paper explores the local stability properties of the steady state in the two-sector neo-classical growth model …
Persistent link: https://www.econbiz.de/10005661479
Cover Image
Trade and Entrepreneurship with Heterogeneous Workers
Oyama, Daisuke; Sato, Yasuhiro; Tabuchi, Takatoshi; … - C.E.P.R. Discussion Papers - 2007
leads to the stability and uniqueness of the symmetric equilibrium. …
Persistent link: https://www.econbiz.de/10005662268
Cover Image
Credit Risk Transfer and Financial Sector Performance
Marsh, Ian W; Wagner, Wolf - C.E.P.R. Discussion Papers - 2004
In this Paper we study the impact of credit risk transfer (CRT) on the stability and the efficiency of a financial …
Persistent link: https://www.econbiz.de/10005662362