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Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and Inequality
Dabla-Norris, Era - 2015
We develop a micro-founded general equilibrium model with heterogeneous agents and three dimensions of financial inclusion: access (determined by a participation cost), depth (determined by a borrowing constraint), and intermediation efficiency (determined by a monitoring cost). We find that the...
Persistent link: https://www.econbiz.de/10012457845
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The impact of globalization and financial development on India's income inequality
Sethi, Pradeepta; Bhattacharjee, Sankalpa; Chakrabarti, … - In: Journal of policy modeling : JPMOD ; a social science … 43 (2021) 3, pp. 639-656
Persistent link: https://www.econbiz.de/10012880213
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Fiscal Reforms, Long-Term Growth and Income Inequality
Acosta‐Ormaechea, Santiago - 2017
We estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method. These episodes are selected using an indicator-based approach applied to the evaluation of growth-friendly fiscal reforms during 1975-2010. We find that in reform...
Persistent link: https://www.econbiz.de/10012950407
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Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime
Paolera, Gerardo della - 2000
This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...
Persistent link: https://www.econbiz.de/10012471138
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The Global Economic Recovery 10 Years after the 2008 Financial Crisis
Mrkaic, Mico - 2019
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012869286
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Do Subsidies to Commercial R&D Reduce Market Failures? Microeconomic Evaluation Studies
Klette, Tor Jakob - 1999
A number of market failures have been associated with R&D investments and significant amounts of public money have been spent on programs to stimulate innovative activities. In this paper, we review some recent microeconomic studies evaluating effects of government sponsored commercial R&D. We...
Persistent link: https://www.econbiz.de/10012471860
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Efficient Regulation
Shleifer, Andrei - 2010
Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric information, as by the failure of courts to solve contract and...
Persistent link: https://www.econbiz.de/10012462999
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Fiscal Federalism and the Budget Impacts of the Affordable Care Act's Medicaid Expansion
Gruber, Jonathan - 2020
Medicaid's federal-state matching system of financing is the nation's largest example of fiscal federalism. Using generous federal subsidies, the Affordable Care Act incentivized states to expand Medicaid, which became a state option in the aftermath of a 2012 Supreme Court ruling. As of early...
Persistent link: https://www.econbiz.de/10012482043
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The Effects of Fiscal Decentralization on Publicly Provided Services and Labor Markets
Bianchi, Nicola; Giorcelli, Michela; Martino, Enrica Maria - National Bureau of Economic Research - 2021
This paper studies how fiscal decentralization affects local services. It explores a 1993 reform that increased the … identifica- tion leverages cross-municipal variation in the degree of decentralization that stems from differences in the average … age of buildings caused by bombings during WWII. Decentralization reduced local spending but expanded municipal services …
Persistent link: https://www.econbiz.de/10012794566
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Anchoring Fiscal Expectations
Leeper, Eric M. - 2009
In this lecture, I argue that there are remarkable parallels between how monetary and fiscal policies operate on the macro economy and that these parallels are sufficient to lead us to think about transforming fiscal policy and fiscal institutions as many countries have transformed monetary...
Persistent link: https://www.econbiz.de/10012463382