Now showing items 1-20 of 33

    • Aid and growth in Malawi 

      Khomba, Daniel Chris; Trew, Alex (University of St Andrews, 2019-02-01) - Working or discussion paper
      We study the local impact of foreign aid to constituencies and districts in Malawi over the period 1999--2013 using a highly detailed new aid database that includes annual disbursements at each project location. First, we ...
    • A behavioural model of choice in the presence of decision conflict 

      Gerasimou, Georgios (University of St Andrews, 2013-05) - Working or discussion paper
      This paper proposes a model of choice that does not assume completeness of the decision maker’s preferences. The model explains in a natural way, and within a unified framework choice when preference-incomparable options ...
    • Capital deaccumulation and the large persistent effects of financial crises 

      Knowles, Matthew Paul (2015-01-17) - Working or discussion paper
      In a panel of OECD and emerging economies, I find that banking crises are characterized by larger initial drops in investment than other large recessions and are followed by particularly persistent drops in output. ...
    • A characterization of risk-neutral and ambiguity-averse behavior 

      Gerasimou, Georgios (University of St Andrews, 2015-12-09) - Working or discussion paper
      This paper studies a decision maker who chooses monetary bets/investment portfolios under pure uncertainty. Necessary and sufficient conditions on his preferences over these objects are provided for his choice behavior to ...
    • Choice, deferral and consistency 

      Costa-Gomes, Miguel; Cueva, Carlos; Gerasimou, Georgios (University of St Andrews, 2014-12-26) - Working or discussion paper
      In this paper we study decision making in situations where the individual's preferences are not assumed to be complete. First, we identify conditions that are necessary and sufficient for choice behavior in general domains ...
    • The clarity incentive for issue engagement in campaigns 

      Basu, Chitralekha; Knowles, Matthew Paul (2017-06-14) - Working or discussion paper
      Although parties focus disproportionately on favorable issues in their election campaigns, it is also the case that parties spend much of the ‘short campaign’ addressing the same issues – and especially salient issues. If ...
    • The cost of political intervention in monetary policy 

      Cobham, David; Papadopoulos, Athanasios; Zis, George (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      Data from a unique monetary ‘experiment’ conducted in the UK during the period 1994-97 are used to investigate the cost of political intervention in monetary policy. The paper finds that the difference between government ...
    • Dirty little secrets : inferring fossil-fuel subsidies from patterns in emission intensities 

      Stefanski, Radoslaw (University of St Andrews, 2017-03-06) - Working or discussion paper
      I develop a unique database of international fossil-fuel subsidies by examining country specific patterns in carbon emission-to-GDP ratios, known as emission-intensities. For most - but not all - countries, intensities ...
    • Dominance solvable games with multiple payoff criteria 

      Gerasimou, Georgios (University of St Andrews, 2014-07-25) - Working or discussion paper
      Two logically distinct and permissive extensions of iterative weak dominance are introduced for games with possibly vector-valued payoffs. The first, iterative partial dominance, builds on an easy-to-check condition but ...
    • Electoral systems, taxation and immigration policies : which system builds a wall first? 

      Morelli, Massimo; Negri, Margherita (University of St Andrews, 2017-08-07) - Working or discussion paper
      When exposed to similar migration flows, countries with different institutional systems may respond with different levels of openness. We study in particular the different responses determined by different electoral systems. ...
    • Endogenous Price Flexibility and Optimal Monetary Policy 

      Sutherland, Alan; Senay, Ozge (Centre for Dynamic Macroeconomic Analysis, 2010) - Working or discussion paper
      Much of the literature on optimal monetary policy uses models in which the degree of nominal price flexibility is exogenous. There are, however, good reasons to suppose that the degree of price flexibility adjusts endogenously ...
    • Entrepreneurship, agency frictions and redistributive capital taxation 

      Knowles, Matthew Paul; Boar, Corina (2017-08-27) - Working or discussion paper
      Motivated by the observation that among OECD countries redistribution is negatively correlated with entrepreneurial activity, we examine the implications of entrepreneurial financial frictions for optimal linear capital ...
    • A financial accelerator through coordination failure 

      de Groot, Oliver (University of St Andrews, 2019-01-31) - Working or discussion paper
      This paper studies the effect of liquidity crises in short-term debt markets in a dynamic general equilibrium framework. Creditors (retail banks) receive imperfect signals regarding the profitability of borrowers (wholesale ...
    • Financial intermediation, resource allocation, and macroeconomic interdependence 

      Ozhan, G. Kemal (University of St Andrews, 2017-02-17) - Working or discussion paper
      This paper studies the role of the financial sector in affecting domestic resource allocation and cross-border capital flows. I develop a quantitative, two-country, macroeconomic model in which banks face endogenous and ...
    • Growing through subsidies 

      Aloi, Marta; Lasselle, Laurence (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      We consider an overlapping generation model based on Matsuyama (1999) and show that, whenever actual capital accumulation falls below its balanced growth path, subsidising innovators by taxing consumers has stabilising ...
    • Heterogeneous beliefs and instability 

      Lasselle, Laurence; Svizzero, Serge; Tisdell, Clem (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      While Rational Expectations have dominated the paradigm of expectations formation, they have been more recently challenged on the empirical ground such as, for instance, in the dynamics of the exchange rate. This challenge ...
    • Higher tax for top earners 

      FitzRoy, Felix; Jin, Jim (University of St Andrews, 2017-02) - Working or discussion paper
      The literature can justify increasing and decreasing marginal taxes (IMT & DMT) on top income under different social objectives and income distributions. Even if DMT are optimal, they are often politically infeasible. Then ...
    • Labor market returns to college major specificity 

      Leighton, Margaret; Speer, Jamin (University of St Andrews, 2017-12-21) - Working or discussion paper
      This paper defines and measures college major specificity and estimates its labor market return over a worker’s life cycle. After reviewing other measures which have been used to measure specialization, we propose a novel ...
    • The local environment shapes refugee integration : evidence from post-war Germany 

      Braun, Sebastian Till; Dwenger, Nadja (University of St Andrews, 2018-09-11) - Working or discussion paper
      This paper studies how the local environment in receiving counties affected the economic, social, and political integration of the eight million expellees who arrived in West Germany after World War II. We first document ...
    • Lower tax for minimum wage earners 

      FitzRoy, Felix; Jin, Jim (University of St Andrews, 2017-02) - Working or discussion paper
      We show that minimum wage earners should pay a lower tax than high earners. Though intuitive, this idea is not supported by the existing literature. The optimal maximin tax curve and two-band taxes are usually decreasing. ...