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-run effects of capital markets integration, in equilibrium, on the optimal provision of education and growth. Third, we examine a … education with and without capital markets integration. First, we explore how regimes of education provision - public, private … competition game where countries compete in the provision of public education. …
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growth and dynamic efficiency, especially when credit markets for education loans are missing. We demonstrate conditions …Parental transfers towards the education of children are non-trivial, especially in countries, characterized by both … imperfect credit markets and high economic growth rates. In this paper, we analyze the role of parental altruism on economic …
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-Domar model is used to estimate the growth sacrifice effects of delays and cost overruns and it is argued that the decline in the … share of public investments in overall investments adds signficantly to the growth potential, which need to be recognised in …
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Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag model is chosen. The results show that a sharp...
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Fiscal policy constitutes a key tool for business cycle stabilisation next to monetary policy. In this context, having a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper documents the fiscal block of the ECB-BASE, which is a...
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