As the millenium draws to an end, the threat posed by the Year 2000 (Y2K) problem is inducing vast private and public spending on its remediation. In this paper, we embed the Y2K problem into a dynamic general equilibrium framework. We model the Y2K problem as an anticipated, permanent loss to...

A defining stylized fact associated with exchange-rate-based (ERB) stabilization programs is that their initial phase is characterized by several years of expansion in private consumption and a gradual appreciation of the real exchange rate. In this paper, I argue that standard optimizing models...

Michael Woodfords Geschichte liest sich wie die Handlung eines John Grisham Buches und ist doch Realität: vom erfolgreichen CEO des japanischen Megaunternehmens Olympus zum Whistleblower, der schließlich gegen das Unternehmen agierte und dortige betrügerische Machenschaften an die Presse...