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This paper addresses the often neglected question of how macroeconomic risk is shared across and within economies, and identifies reforms that could contribute towards achieving more desirable risksharing outcomes. For risk-sharing across countries, the paper discusses possibilities for...
Persistent link: https://www.econbiz.de/10009143621
Persistent link: https://www.econbiz.de/10009596128
This paper examines how the the distributive impact of macroeconomic shocks is shaped by selected institutions. It uses a dynamic stochastic general equilibrium (DSGE) framework with heterogeneous agents and an endogenous collateral constraint. The model is based on the “credit view” of...
Persistent link: https://www.econbiz.de/10013102240
Persistent link: https://www.econbiz.de/10009689711
Israel’s monetary policy framework is broadly sound. Inflation targeting was introduced in the early 1990s, and low single-digit inflation was established by the end of the decade. However, fast transmission from the exchange rate to inflation means the operational challenges differ somewhat...
Persistent link: https://www.econbiz.de/10008552861
This paper examines the heavily supported Swiss food and agriculture sector. It reviews some of the key features and trends in the sector and reveals its low relative labour productivity in international comparison. It describes the existing policy regime, including its various forms of support...
Persistent link: https://www.econbiz.de/10011277001
Persistent link: https://www.econbiz.de/10009597416
Persistent link: https://www.econbiz.de/10009689718
This paper addresses the often neglected question of how macroeconomic risk is shared across and within economies, and identifies reforms that could contribute towards achieving more desirable risksharing outcomes. For risk-sharing across countries, the paper discusses possibilities for...
Persistent link: https://www.econbiz.de/10012975076
The global financial crisis of 2007-09 and the ensuing sovereign debt crisis in Europe provide evidence that portfolio rebalancing of financial investors can contribute to spread financial turmoil across countries. Rebalancing of portfolios, in turn, may be driven by the need to meet liquidity...
Persistent link: https://www.econbiz.de/10011007416