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Book
Year: 1980 Publisher: Cambridge, Mass. National Bureau of Economic Research
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The paper considers the implications of the rational expectations - New Classical Macroeconomics revolution for the "rules versus discretion" debate. The following issues are covered 1) The ineffectiveness of anticipated stabilization policy, 2) Non-causal models and rational expectations, 3) optimal control in non-causal models -the inconsistency of optimal plans. I established the robustness of the proposition that contingent (closed-loop or feedback) rules dominate fixed (open-loop) rules. The optimal contingent rule in non-causal models - the innovation or disturbance-contingent feedback rule - is quite different from the state-contingent feedback rule derived by dynamic stochastic programming
Book
ISBN: 317002552X Year: 1977 Publisher: Stuttgart Kohlhammer
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Book
Year: 1999 Publisher: Washington, DC : World Bank,
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March 1999 Empirical work in Bangladesh shows that growth reduces poverty in both urban and rural areas - and is associated with rising inequality only in urban areas. It appears that promoting growth in rural areas rather than urban areas would reduce poverty more. Most empirical work on how growth affects poverty and inequality has been based on international panel data sets. Panels can also be used within a country, if the analysis is carried out at the regional level. Wodon does this for Bangladesh, where regional panel estimates indicate that growth reduces poverty in both urban and rural areas. Growth is associated with rising inequality only in urban areas. Simulations based on these estimates indicate how much poverty reduction could increase in the next 10 years if growth were promoted in rural areas rather than urban areas. This paper-a product of the Poverty Reduction and Economic Management Sector Unit, South Asia Region-was written as part of background work for the Bangladesh poverty assessment. The author may be contacted at qwodon@worldbank.org.
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Year: 2013 Publisher: Washington, DC : World Bank, Washington, DC,
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In crisis times, depositors get anxious, can run on banks, and withdraw their deposits. Correlated withdrawals of bank deposits could be mitigated if bank deposits are more diversified, that is, held by more individuals. This paper examines the link between the broader access to bank deposits prior to the 2008 crisis and the dynamics of bank deposit growth during the crisis, while controlling for relevant covariates. Employing proxies for access to deposits and the use of bank deposits, the authors find that greater access to bank deposits can make the deposit funding base of banks more resilient in times of financial stress. Policy efforts to enhance financial stability should thus not only focus on macroprudential regulation, but also recognize the positive effect of broader access to bank deposits on financial stability.
Book
ISBN: 385990230X 3859902458 Year: 2014 Publisher: [Zizers, Switzerland] : bei edition 8,
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Periodical
Year: 2018 Publisher: [Washington, D.C.] : Congressional Research Service,
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Periodical
Year: 2008 Publisher: [Washington, D.C.] : Financial Stability Oversight Board
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Periodical
Year: 2019 Publisher: [Washington, D.C.] : Congressional Research Service,
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Periodical
Year: 2010 Publisher: [Washington, D.C.] : [Financial Stability Oversight Council]
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Book
ISBN: 1786439573 Year: 2020 Publisher: Northampton : Edward Elgar Publishing,
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"Hassan Bougrine, Louis-Philippe Rochon and the expert contributors to this book explore issues of economic growth and full employment; presenting a clear explanation to stagnation, recessions and crises, including the latest Global Financial Crisis of 2007-8. With a central focus on the role played by government spending, deficits and debt as well as the setting of interest rates, the chapters propose alternative policies that can be used by central banks and fiscal authorities in order to deal with problems of income inequality, unemployment and slow productivity. Students and professors of economics, policymakers interested in alternative policies, academics and scholars in all fields will benefit from the explorations therein and would do well to seek out the companion publication, Credit, Money and Crises in Post-Keynesian Economics, also published by Edward Elgar Publishing"--