Now showing items 26-45 of 83 starting with F

    • Finance and balanced growth 

      Trew, Alex William (2014-06) - Journal article
      We study the relationships between various concepts of financial development and balanced economic growth. A model of endogenous growth that incorporates roles for both financial efficiency and access to financial services ...
    • 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 ...
    • Fiscal policy multipliers in an RBC model with learning 

      Mitra, Kaushik; Evans, George W.; Honkapohja, Seppo (2019-01) - Journal article
      Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers ...
    • Free trade versus autarky under asymmetric Cournot oligopoly 

      Amir, Rabah; Jin, Jim Y.; Tröge, Michael (2017-02) - Journal article
      The paper compares free trade with autarky in an asymmetric multi-country world under Cournot competition with constant returns to scale and linear demand. We derive respective conditions under which free trade will hurt ...
    • 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 ...
    • (Hemi)Continuity of additive preference preorders 

      Gerasimou, Georgios (2015-05) - Journal article
      It is shown that the two common notions of topological continuity for preference preorders, which require closed contour sets and a closed graph respectively, are equivalent even when completeness is not assumed, provided ...
    • 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 ...
    • Indecisiveness, undesirability and overload revealed through rational choice deferral 

      Gerasimou, Georgios (2018-09) - Journal article
      Three reasons why decision makers may defer choice are indecisiveness between various feasible options, unattractiveness of these options, and choice overload. This paper provides a choice-theoretic explanation for each ...
    • Inequalities in LPG and electricity consumption in India : The role of caste, tribe, and religion 

      Saxena, Vibhor; Bhattacharya, PC (2018-02) - Journal article
      This paper examines the role of caste, tribe, and religion in determining energy inequality in India. We provide evidence by using the National Sample Survey Organisation data from the 68th round (2011–12) of 87,753 ...
    • Information disclosure and asymmetric speed of learning in booms and busts 

      Palazzo, Francesco; Zhang, Min (2017-09) - Journal article
      We consider a model in which agents gradually learn about the aggregate market conditions — ‘boom’ or ‘bust’ — from the information disclosed after a trading round. The disclosure rules can generate asymmetric learning and ...
    • Interest rate rules and welfare in open economies 

      Senay, Ozge (2008-07) - Journal article
      This paper analyses the welfare performance of a set of five alternative interest rate rules in an open economy stochastic dynamic general equilibrium model with nominal rigidities. A rule with a lagged interest rate term, ...
    • The ‘inventor balance’ and the functional specialization in global inventive activities 

      Picci, Lucio; Savorelli, Luca (2018-01) - Journal article
      Inventors and organizational assets are inputs of inventive activities which are often provided at a global scale, where countries might specialize in the provision of one or the other type of inputs. We introduce a new ...
    • Keeping up with the Joneses : who loses out? 

      Ulph, David Tregear (2014-12) - Journal article
      This paper investigates how well-being varies with individual wage rates when individuals care about relative consumption and so there are Veblen effects – Keeping up with the Joneses – leading individuals to over-work. ...
    • 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 ...
    • Local currency pricing, foreign monetary shocks and exchange rate policy 

      Senay, Ozge; Sutherland, Alan (2015-09-01) - Journal article
      The implications of local currency pricing (LCP) for monetary regime choice are analysed for a country facing foreign monetary shocks. In this analysis expenditure switching is potentially welfare reducing. This contrasts ...
    • 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. ...
    • Monetary policy and financial stability in the long run : a simple game-theoretic approach 

      Cao, Jin; Chollete, Lorán (2017-02) - Journal article
      Many theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality, central banks play complex, long-horizon games and face more than one tradeoff. We account for these strategic ...