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Karagözoğlu, Emin - 2016

We experimentally investigate the effect of time pressure in a rich-context, unstructured bargaining game with earned … very similar across different levels of time pressure. Nevertheless, as predicted, time pressure systematically influenced … with time pressure, and the likelihood of reaching the implicit reference point (equal division) in agreements decreases …

Persistent link: https://www.econbiz.de/10012999773

The Timing of Choice-Enhancing Policies

Murooka, Takeshi - 2016

Recent studies investigate policies motivating consumers to make an active choice as a way to protect unsophisticated consumers. We analyse the optimal timing of such choice-enhancing policies when a firm can strategically react to them. In our model, a firm provides an automatic enrollment or...

Persistent link: https://www.econbiz.de/10012985793

Persistence and Cycles in the US Federal Funds Rate

Caporale, Guglielmo Maria - 2013

This paper uses long-range dependence techniques to analyse two important features of the US Federal Funds effective rate, namely its persistence and cyclical behaviour. It examines annual, monthly, bi-weekly and weekly data, from 1954 until 2010. Two models are considered. One is based on an...

Persistent link: https://www.econbiz.de/10013089178

Conflict, Settlement, and the Shadow of the Future

McBride, Michael - 2010

In many instances of potential violent or non-violent conflict the future strategic positions of adversaries are very different when there is open conflict than when there is settlement. In such environments we show that, as the future becomes more important, open conflict becomes more likely...

Persistent link: https://www.econbiz.de/10013149006

The Limits of Political Compromise : Debt Ceilings and Political Turnover

Cunha, Alexandre B. - 2017

We study the desirability of limits on the public debt and of political turnover in an economy where incumbents have an incentive to set public expenditures above the socially optimal level due to rent-seeking motives. Parties alternate in office and cannot commit to future policies, but they...

Persistent link: https://www.econbiz.de/10012956707

Fiscal Rules, Financial Stability and Optimal Currency Areas

De Grauwe, Paul - 2015

In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co-movements in fiscal policy; 2) financial stability; and 3) financial integration. We provide empirical evidence documenting the existence of such a trade-off in the period characterized...

Persistent link: https://www.econbiz.de/10013020581

Monetary Policy, Model Uncertainty and Exchange Rate Volatility

Markiewicz, Agnieszka - 2021

varies accordingly even though the underlying fundamentals processes remain time-invariant. I investigate the relevance of …

Persistent link: https://www.econbiz.de/10013316252

The Impact of Fiscal Rules on Public Finances : Theory and Empirical Evidence for the Euro Area

Marneffe, Wim - 2011

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the...

Persistent link: https://www.econbiz.de/10013131350

Central Bank Independence and Conservatism Under Uncertainty : Substitutes or Complements?

Hefeker, Carsten - 2013

The paper examines the optimal combination of central bank independence and conservatism in the presence of uncertain central bank preferences. We develop a model of endogenous monetary policy delegation in which government chooses the central bank's degree of inde-pendence and conservatism so...

Persistent link: https://www.econbiz.de/10013093869

Private Monitoring, Collusion and the Timing of Information

Khalil, Fahad; Lawarrée, Jacques; Scott, Troy Joseph - 2015

when the private information arrives in time to rescale the agent’s effort. Rescaling is more effective than pure monetary …

Persistent link: https://www.econbiz.de/10014043494