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Evolving Preferences andPolicy Advice in Democratic Society
Vanberg, Viktor - Max-Planck-Gesellschaft zur Förderung der Wissenschaften - 2009
Beyond its explanatory ambitions as positive science, economics has always had its normativeor applied branch that aims at providing advice about how man’s socio-economic conditionmight be improved. Under the name welfare economics the discipline’s normative branch hasbeen formalized, in the...
Persistent link: https://www.econbiz.de/10009022150
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Welfare Notions for Soft Paternalism
Grüne-Yanoff, Till - Max-Planck-Gesellschaft zur Förderung der Wissenschaften - 2009
Paternalism, the interference with a person, against their will, for her own good, has longbeen held in disregard. Yet recently, new arguments for paternalistic governmentinterventions have been proposed. These arguments draw on two premises. First, theproposed paternalism is characterised as...
Persistent link: https://www.econbiz.de/10009022152
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Is Novelty always a good thing?Towards an Evolutionary Welfare Economics
Schubert, Christian - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009
Schumpeter’s and Hayek’s view of market coordination as being not aboutefficiency, but about endogenous change and never-ending discovery has beenincreasingly recognized even by the mainstream of economics. Underlying this view isthe notion of creative learning agents who bring about...
Persistent link: https://www.econbiz.de/10005867738
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On the optimal monetary policy response to noisyindicators
Aoki, Kosuke - London School of Economics and Political Science - 2002
We describe a behavior of a central bank when its measures of current inflation and outputare subject to measurement … rateresponds to the central bank’s estimates of both current inflation and output gap, as advocatedby Taylor (1993)... …
Persistent link: https://www.econbiz.de/10005869371
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Assessing Changes in the Monetary Transmission Mechanism: A VAR Approach
Boivin, Jean; Giannoni, Marc Paolo - Columbia University <New York, NY> / Department of Economics; …
Several authors have documented a reduced variability ofoutput and inflation in the United States since the beginningof … standarddeviation of quarterly output growth has fallen 30 percent,while the standard deviation of inflation has decreased morethan 40 … percent. These changes in the time series properties ofoutput and inflation raise a number of important questions …
Persistent link: https://www.econbiz.de/10005869377
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The Case for TIPS: An Examination of the Costs and Benefits
Dudley, William C.; Roush, Jennifer E.; Ezer, Michelle … - London School of Economics and Political Science - 2009
depends on the actual inflation outcome, which maydiffer from expectations at the time the TIPS investment wasmade because …
Persistent link: https://www.econbiz.de/10005869398