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Starting Over: The Automated Payment Transaction Tax

Feige, Edgar L. - 2001

This paper proposes a 21st century global fiscal architecture to replace the present system of personal and corporate income, sales, excise, capital gains, import and export duties, gift and estate taxes with a single comprehensive revenue neutral Automated Payment Transaction (APT) tax. In its...

Persistent link: https://www.econbiz.de/10015268940

Weather, Credit, and Economic Fluctuations: Evidence from China

Chen, Zhenzhu; Li, Li; Tang, Yao - 2023

a structural vector auto-regression model suggests that a negative weather shock leads to persistently low GDP and … credit risk and expectations are two important impact channels. A high existing credit risk or low confidence among firm …

Persistent link: https://www.econbiz.de/10015213265

Supply Side Keynesianism

Obregon, Carlos - 2022

The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...

Persistent link: https://www.econbiz.de/10015214329

Financial constraints, risk sharing, and optimal monetary policy

Zaretski, Aliaksandr - 2021

constrained efficient allocation significantly improves between-agent risk sharing, approaching the unconstrained Pareto optimum …

Persistent link: https://www.econbiz.de/10015214604

Structure versus Agency in the Great Deprivation of 21st Century

Naqvi, Nadeem - 2009

Agency-based explanations of the great deprivation, contrasted with structure-based explanations, suffer not merely from the criticism of relying on irrational and irresponsible behavior of millions, including that of the most astute financial experts, but are also at a loss to explain why such...

Persistent link: https://www.econbiz.de/10015215027

Measures of compliance with sustainable development objectives adopted by Romania in the pre-and post-accession

Duduiala-Popescu, Lorena - 2008

Developing the National Strategy for Sustainable Development (SNDD) is the result of the obligation assumed by Romania, as a member of the European Union, in accordance with the objectives agreed at EU and methodological prescriptions of the European Commission. Defining element of this policy...

Persistent link: https://www.econbiz.de/10015215218

Economies of scale in banking, confidence shocks, and business cycles

Dressler, Scott J. - 2009

This paper quantitatively investigates equilibrium indeterminacy due to economies of scale (ES) in financial intermediation. Financial intermediation provides deposits (inside money) which can substitute with currency to purchase consumption, and depositing decisions are susceptible to...

Persistent link: https://www.econbiz.de/10015215591

A Joint Dynamic Bi-Factor Model of the Yield Curve and the Economy as a Predictor of Business Cycles

Chauvet, Marcelle; Senyuz, Zeynep - 2008

This paper proposes an econometric model of the joint dynamic relationship between the yield curve and the economy to predict business cycles. We examine the predictive value of the yield curve to forecast both future economic growth as well as the beginning and end of economic recessions at the...

Persistent link: https://www.econbiz.de/10015216774

Equity Returns and Business Cycles in Small Open Economies

Jahan-Parvar, Mohammad R.; Liu, Xuan; Rothman, Philip - 2009

This is the first paper in the literature to match key business cycle moments and long-run equity returns in a small open economy with production. These results are achieved by introducing three modications to a standard real business cycle model: (1) borrowing and lending costs are imposed to...

Persistent link: https://www.econbiz.de/10015217375

The Link between Output, Inflation, Monetary Policy and Housing Price Dynamics

Demary, Markus - 2009

interest rates for ten OECD countries. We find out that a monetary policy shock lowers real house prices in all ten countries …, where the interest rate shock explains between 12 and 24 percent of the fluctuations in house prices. Impulse responses … indicate that house prices rise after an output shock in nine of ten countries. But we also find evidence that real estate …

Persistent link: https://www.econbiz.de/10015217421