Showing 1 - 10 of 203
This study approaches the Quantity Theory of Money at a conceptual level, asking how it can be most reasonably interpreted and quantitatively assessed. The resulting approach is straightforward. Unlike studies relying on other methods we find evidence of its linchpin prediction that is not...
Persistent link: https://www.econbiz.de/10010276869
We use a macro-theory framework of analysis to assess Greek macro-policy with emphasis on the period of the Greek debt crisis. The latter is mainly the result of misguided past internal policies deviating from the policy lessons of modern macroeconomics. The current policy, however, provides a...
Persistent link: https://www.econbiz.de/10010420686
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...
Persistent link: https://www.econbiz.de/10012214167
This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...
Persistent link: https://www.econbiz.de/10011872153
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...
Persistent link: https://www.econbiz.de/10012834879
that arrests of children and reported crimes involving children follow a different pattern: peaking during the school year … school year to show that this pattern is caused by school: children aged 10–17 are roughly 50% more likely to be involved in … a reported crime during the beginning of the school year relative to the weeks before school begins. This sharp increase …
Persistent link: https://www.econbiz.de/10014469559
The direct democratic choice of an examination standard, i.e., a performance level required to graduate, is evaluated against a utilitarian welfare function. It is shown that the median preferred standard is inefficiently low if the marginal cost of reaching a higher performance reacts more...
Persistent link: https://www.econbiz.de/10011794184
Schools often track students to classes based on ability. Proponents of tracking argue it is a low-cost tool to improve learning since instruction is more effective when students are more homogeneous, while opponents argue it exacerbates initial differences in opportunities without strong...
Persistent link: https://www.econbiz.de/10014077006
language classes in compulsory school on students’ subsequent educational choices in upper secondary school. Using … more foreign language classes during compulsory school has only minor effects on educational choices of the overall student … education. The effect of foreign language classes on the educational trajectory of low-track male students is particularly …
Persistent link: https://www.econbiz.de/10014077193
identification, I use historical shifts in the school year schedule in Germany, which substantially shortened the duration of the … affected school years with no adjustments in the core curriculum. The lost in-school instruction was mainly compensated for by …
Persistent link: https://www.econbiz.de/10014078196