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Is there a Phillips curve? : a full information partial equilibrium approach

Piazza, Roberto - 2018

Empirical tests of the New Keynesian Phillips Curve have provided results often inconsistent with microeconomic evidence. To overcome the pitfalls of standard estimations on aggregate data, a Full Information Partial Equilibrium approach is developed to exploit sectoral level data. A model...

Persistent link: https://www.econbiz.de/10011932584

Measuring the Impact of Distortions in Agricultural Trade in Partial and General Equilibrium

Tokarick, Stephen Philip - 2003

This paper provides quantitative estimates of the impact of removing agricultural support (both tariffs and subsidies) in partial- and general-equilibrium frameworks. The results show that agricultural support in industrial countries is highly distortionary and tariffs have a larger...

Persistent link: https://www.econbiz.de/10014399986

Bank Capitalization As a Signal

Hardy, Daniel C. L. - 2012

The level of a bank‘s capitalization can effectively transmit information about its riskiness and therefore support market discipline, but asymmetry information may induce exaggerated or distortionary behavior: banks may vie with one another to signal confidence in their prospects by keeping...

Persistent link: https://www.econbiz.de/10014396615

When do we repair the roof? : insights from responses to fiscal crisis early warning signals

Honda, Jiro; Tapsoba, René; Issifou, Ismael - 2018

Should policymakers wait for fiscal crisis early warning signals before repairing the roof? We give an answer to this question by investigating the interlinkages between early warning signals for fiscal crisis, policy responses, and policy outcomes, using a broad panel of 119 countries. We find...

Persistent link: https://www.econbiz.de/10011848256

Signaling Fiscal Regime Sustainability

Prati, Alessandro - 1999

This paper proposes a signaling model that offers a new perspective on why governments deviate from optimal tax smoothing and delay debt stabilization. In our model, dependable—but not fully credible—governments have an incentive to tighten the fiscal regime when the signaling effect on...

Persistent link: https://www.econbiz.de/10014400094

Market Information and Signaling in Central Bank Operations, Or, How often Should a Central Bank Intervene?

International Monetary Fund - 1997

A central bank must decide on the frequency with which it will conduct open market operations and the variability in short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining an immediate target and broadcasting the central...

Persistent link: https://www.econbiz.de/10014400555

Policy Reform, Adjustment Costs, and Investment- with Activity of Local Investors As a Signal

Johnson, Omotunde E. G. - 1997

Adjustment assistance is provided to local investors responding to policy reform and facing adjustment costs, to facilitate their activity–a signal to foreign investors about the profitability of investing in the local economy. The government, in providing assistance, maximizes its utility...

Persistent link: https://www.econbiz.de/10014400808

Protection and the Own-Funds Window in Tanzania : An Analytical Framework and Estimates of the Effects of Trade Liberalization

DeRosa, Dean A. - 1991

This paper presents a simple partial equilibrium framework for considering the economic implications of administered protection in Tanzania, against the background of the country’s parallel exchange market and the establishment of the own-funds and open general license (OGL) facilities for...

Persistent link: https://www.econbiz.de/10014398474

Stock-Market Equilibrium and the Dividend Yield

Kramer, Charles Frederick - 1996

with historical averages, and the dividend/price ratio has recently reached a historic low. These developments and record … paper assesses the recent rise in the stock market using a model for the equilibrium dividend/price ratio. While economic … variables can account for most of the recent fall in the dividend/price ratio, mutual-fund inflows still have some marginal …

Persistent link: https://www.econbiz.de/10014395821

A governance dividend for Sub-Saharan Africa?

Hammadi, Amine; Mills, Marshall; Souza Sobrinho, Nelson … - 2019

Countries in Sub-Saharan Africa (SSA) tend to lag those in most other regions in terms of governance and perceptions of corruption. Weak governance undermines economic performance through various channels, including deficiencies in government functions and distortions to economic incentives. It...

Persistent link: https://www.econbiz.de/10012001456