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Title
Author(s)
Year
Will Dobbie
2017
ABSTRACT:  We study the drivers of financial distress using a large-scale field experiment that offered randomly selected borrowers a combination of (i) immediate payment reductions to target short-run liquidity constraints and (ii) delayed debt write ...
Michael Oppenheimer
2017
Michael Oppenheimer June, 2017 With Solomon Hsiang, Robert Kopp, Amir Jina, James Rising, Michael Delgado, Shashank Mohan, D. J. Rasmussen, Robert Muir-Wood, Paul Wilson, Kate Larsen, Trevor Houser: Science, Vol 356, Issue 6345 Climate Change Finance ...
Elke Weber
2017
Why do the poor make shortsighted choices in decisions that involve delayed payoffs? Foregoing immediate rewards for larger, later rewards requires that decision makers (i) believe future payoffs will occur and (ii) are not forced to take the immediate ...
Elke Weber
2017
Knowledge about the existence and source of national differences in willingness to take risks plays a vital role in ensuring successful communication, collaboration, and understanding across countries, from the personal to the organizational and political ...
Alan Blinder
2016
George Stigler, the Nobel prize winner in economics in 1982, once wrote that “economists exert a minor and scarcely detectable influence on the societies in which they live.” It’s not a proposition that Don Patinkin, who trained several generations of ...
2014
Seit der Finanz- und Wirtschaftskrise ist die Staatsverschuldung einiger Euroländer so stark gestiegen wie nie zuvor. Und eine glaubhafte Konsolidierungsstrategie ist nicht in Sicht. Im Gegenteil, vermehrt wird sogar eine Lockerung der Sparpolitik ...
Brandice Canes-Wrone
2014
We consider two classes of explanations for the rise in policy-related economic uncertainty in the United States since 1960. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and ...
Oleg Itskhoki
Benjamin Moll
2013
We study optimal Ramsey policies in a standard growth model with financial frictions. In the model, heterogeneous entrepreneurs face borrowing constraints which result in a misallocation of capital and reduced labor productivity. In the short-run, the ...
Oleg Itskhoki
2013
We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. ...
Sophie Meunier
2013
Taylor & Francis The European Financial Stability Facility (EFSF), a slim and temporary bailout fund created by the European Union in May 2010 to quell a growing sovereign debt crisis in Europe, became the foundation for a permanent, more powerful ...
Benjamin Moll
2013
ScienceDirect Benjamin Moll January, 2013 With Francisco J. Buera and Yongseok Shin; Review of Economic Dynamics, Vol. 16, No. 1 Microeconomics Fiscal Policy Economics and Finance http://artsci.wustl.edu/~yshin/public/bms.pdf ...
2012
This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the ...
Alan Blinder
2012
To me, close cooperation between the central bank and the Treasury in a crisis is both inevitable and desirable. And in this particular crisis, it was both essential and salutary. The trick is how and when the Treasury and the central bank disengage after ...
Paul Krugman
2012
In this article we present a simple new Keynesian–style model of debt-driven slumps—that is, situations in which an overhang of debt on the part of some agents, who are forced into rapid deleveraging, is depressing aggregate demand. Making some agents ...
Atif Mian
2012
A key rationale for fiscal stimulus is to boost consumption when aggregate demand is perceived to be inefficiently low. We examine the ability of the government to increase consumption by evaluating the impact of the 2009 “Cash for Clunkers” program on ...
Grigore Pop-Eleches
2012
This article addresses the question of whether incumbents can buy political support through targeted public spending. Using a regression discontinuity approach which takes advantage of the design of a recent Romanian government program that distributed ...
Paul Krugman
2012
How bad have things gotten? How did we get stuck in what now can only be called a depression? And above all, how do we free ourselves? Krugman pursues these questions with his characteristic lucidity and insight. He has a powerful message for anyone who ...
Marc Fleurbaey
2012
This book is a collection of articles written by the two authors on the topic of equality of opportunity. All articles build on the idea that a just society should equalize the resources that determine the opportunities agents face in order to follow ...
Carles Boix
2011
Does the process of economic globalization curtail the capacity of national governments to pursue autonomous economic policies at home? Does the growing cross-border mobility of factors (and its associated threat of capital flight) discipline governments ...
Richard Rogerson
2010
Rogerson compares fifty years of time series data from the United States and fourteen other OECD countries. He finds that a 10 percentage point increase in the tax rate on labor leads to a 10 to 15 percent decrease in hours of work. Even a 5 percent ...

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