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Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and Inequality

Dabla-Norris, Era - 2015

We develop a micro-founded general equilibrium model with heterogeneous agents and three dimensions of financial inclusion: access (determined by a participation cost), depth (determined by a borrowing constraint), and intermediation efficiency (determined by a monitoring cost). We find that the...

Persistent link: https://www.econbiz.de/10012457845

Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime

Paolera, Gerardo della - 2000

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...

Persistent link: https://www.econbiz.de/10012471138

Do Subsidies to Commercial R&D Reduce Market Failures? Microeconomic Evaluation Studies

Klette, Tor Jakob - 1999

A number of market failures have been associated with R&D investments and significant amounts of public money have been spent on programs to stimulate innovative activities. In this paper, we review some recent microeconomic studies evaluating effects of government sponsored commercial R&D. We...

Persistent link: https://www.econbiz.de/10012471860

Efficient Regulation

Shleifer, Andrei - 2010

Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric information, as by the failure of courts to solve contract and...

Persistent link: https://www.econbiz.de/10012462999

Fiscal Federalism and the Budget Impacts of the Affordable Care Act's Medicaid Expansion

Gruber, Jonathan - 2020

Medicaid's federal-state matching system of financing is the nation's largest example of fiscal federalism. Using generous federal subsidies, the Affordable Care Act incentivized states to expand Medicaid, which became a state option in the aftermath of a 2012 Supreme Court ruling. As of early...

Persistent link: https://www.econbiz.de/10012482043

The Effects of Fiscal Decentralization on Publicly Provided Services and Labor Markets

Bianchi, Nicola; Giorcelli, Michela; Martino, Enrica Maria - National Bureau of Economic Research - 2021

This paper studies how fiscal decentralization affects local services. It explores a 1993 reform that increased the … identifica- tion leverages cross-municipal variation in the degree of decentralization that stems from differences in the average … age of buildings caused by bombings during WWII. Decentralization reduced local spending but expanded municipal services …

Persistent link: https://www.econbiz.de/10012794566

Anchoring Fiscal Expectations

Leeper, Eric M. - 2009

In this lecture, I argue that there are remarkable parallels between how monetary and fiscal policies operate on the macro economy and that these parallels are sufficient to lead us to think about transforming fiscal policy and fiscal institutions as many countries have transformed monetary...

Persistent link: https://www.econbiz.de/10012463382

Policy Decentralization in the Post-Prohibition Era

Arnold, Andrew; Sieg, Holger - National Bureau of Economic Research - 2023

We study the decentralization of liquor policies in the Post-Prohibition Era, which is the most famous natural … experiment ever conducted with respect to policy decentralization in the U.S. Our empirical analysis exploits a unique feature of …

Persistent link: https://www.econbiz.de/10014322887

Decentralization and Efficiency of Subsidy Targeting : Evidence from Chiefs in Rural Malawi

Basurto, Pia M. - 2017

Developing countries spend vast sums on subsidies. Beneficiaries are typically selected via either a proxy-means test (PMT) or through a decentralized identification process led by local leaders. A decentralized allocation may offer informational or accountability advantages, but may be prone to...

Persistent link: https://www.econbiz.de/10012455298

The Impact of Paid Family Leave on Employers : Evidence from New York

Bartel, Ann; Rossin-Slater, Maya; Ruhm, Christopher J.; … - National Bureau of Economic Research - 2021

We designed and fielded a survey of New York and Pennsylvania firms to study the impacts of New York's 2018 Paid Family Leave policy on employer outcomes. We match each NY firm to a comparable PA firm and use difference-in-difference models to analyze within-match-pair changes in outcomes. We...

Persistent link: https://www.econbiz.de/10012510550