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Real-Time Macroeconomic Monitoring:Real Activity,Inflation,and Interactions
Nowcasting Prices Wages Business cycle Expansion Contraction Recession Turning point State-space model Dynamic factor model
2015/9/18
We sketch a framework for monitoring macroeconomic activity in real-time andpush it in new directions. In particular, we focus not only on real activity, which has received most attention to date, but...
Climate change policy's interactions with the tax system
Climate change policy Carbon tax Cap and trade Revenue-neutral Tax-interactions General equilibrium impacts
2015/7/17
This paper presents a range of insights from recent literature on how climate-change policies and other environmental policies interact with the fiscal system. It explores four issues associated with ...
From Crowds to Collaborators:Initiating Effort & Catalyzing Interactions Among Online Creative Workers
Online Platforms Collaboration Teams Interdependence Text Analysis Temporal Coordination
2015/4/29
Online collaborative platforms have emerged as a complementary approach to traditional organizations for coordinating the collective efforts of creative workers. However, it is surprising that they re...
Strategic Interactions in Two-Sided Market Oligopolies
Two-Sided Markets Strategic Complements Strategic Substitutes Cost Investment Profit One-Sided Platforms
2015/4/23
Strategic interactions between two-sided platforms depend not only on whether their decision variables are strategic complements or substitutes as for one-sided firms, but also -and crucially so- on w...
Structural Analysis of Electricity Demand and Supply Interactions
Structural Analysis Electricity Demand and Supply Interaction
2014/11/27
We specify a structural asymmetric vector error-correction model to identify and estimate the demand and supply functions in hourly day-ahead wholesale electricity markets. In doing so, we provide, in...
Monetary–Fiscal Policy Interactions under Implementable Monetary Policy Rules
fiscal theory rational expectations Taylor rules
2011/8/21
his paper examines the implications of forward- and backward-looking monetary policy rules in an environment with monetary–fiscal interactions. We find that the unique stationary rational expectations...
Decision interactions of the monetary and fiscal authorities in the choice of policy mix
equilibrium monetary-fiscal games independent decisions monetary policy
2011/8/21
This article presents an analysis of the states of equilibrium and Pareto optimality of the solutions in the monetary-fiscal games between the fiscal and monetary authorities each having either two or...
Maintaining taxes at the centre despite decentralization: interactions with national reforms
Maintaining taxes centre despite decentralization interactions with national reforms
2014/6/24
Although fiscal (de)centralization literature explains easily the centralization of taxes on the basis of a superior tax administration capacity, it finds more difficult to argue why in federal and de...
Economic interactions and the distribution of wealth
wealth distribution incomplete markets earnings distribution capital income taxation productivity shocks portfolio diversification
2010/11/1
This paper analyzes the equilibriumdistribution ofwealth in an economywhere firms’productivities are subject to idiosyncratic shocks, returns on factors are determined
in competitivemarkets, dynastie...
Even before the August 2007 credit crunch the interaction between real and financial variables had become a central issue in macroeconomics, particularly to Central Bankers. Different theoretical mode...
Even before the August 2007 credit crunch the interaction between real and financial variables had become a central issue in macroeconomics, particularly to Central Bankers. Different theoretical mode...