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In the present work we investigate how the state of credit markets non-linearly affects the impact of fiscal policies. We estimate a Threshold Vector Autoregression (TVAR) model on U.S quarterly data for the period 1984-2010. We employ the spread between BAA-rated corporate bond yield and...
Persistent link: https://www.econbiz.de/10009702294
In recent years, a school of economics called MMT (Modern Monetary Theory) has been attracting attention, but it has …
Persistent link: https://www.econbiz.de/10013219848
communicate and coordinate at lower resource cost. The theory delivers full task specialization in the labor and education markets …
Persistent link: https://www.econbiz.de/10013106641
communicate and coordinate at lower resource cost. The theory delivers full task specialization in the labor and education markets …
Persistent link: https://www.econbiz.de/10009537710
implied by wage bargaining. -- Wage Bargaining ; Optimal Control Theory ; Right-to-Manage Model ; Numerical Solutions …
Persistent link: https://www.econbiz.de/10003486199
Should automation be regulated? This paper studies optimal tax of robot and regulation of automation. A job assignment model is embedded into a Mirrleesian tax problem. A task may either be assigned to the robot or one type of labors, which naturally determines the automation rate. The robot can...
Persistent link: https://www.econbiz.de/10014259381
Sovereign states issue fixed and floating securities to fund their public debt. The value of such portfolios strongly depends on the fluctuations of the term structure of interest rates. This is a typical example of planning under uncertainty, where decisions has to be drawn on the base of the...
Persistent link: https://www.econbiz.de/10014214177
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