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Página 160
Such contracts are socially optimal only if the central banker's utility is also made to reflect society's preference over output fluctuations , either because the central banker directly cares about V or because her contract depends on ...
Such contracts are socially optimal only if the central banker's utility is also made to reflect society's preference over output fluctuations , either because the central banker directly cares about V or because her contract depends on ...
Página 225
But since the long - term nominal rate and the longterm inflation rate depend upon the short nominal rate with ... Thus in the reduced form , the expected long nominal rate , R * , depends positively on current inflation , while the ...
But since the long - term nominal rate and the longterm inflation rate depend upon the short nominal rate with ... Thus in the reduced form , the expected long nominal rate , R * , depends positively on current inflation , while the ...
Página 177
One dimension of behavioral response to consider is the " lock - in ” effect , in which the flow of realizations depends on tax rates . Another potentially important response is the repackaging of ordinary income flows into capital ...
One dimension of behavioral response to consider is the " lock - in ” effect , in which the flow of realizations depends on tax rates . Another potentially important response is the repackaging of ordinary income flows into capital ...
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Índice
Evidence? | 17 |
The Effect of Institutions on Economic Behavior | 409 |
Theory of Contracts | 432 |
Direitos de autor | |
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aggregate analysis assume average bank behavior benefits capital central changes choice coefficient condition consumption contract correlation cost countries decision demand depends discussion Economic effect employment equal equation equilibrium estimates evidence example expected firms function given growth higher households important income increase individual industry inflation interest International issue Journal labor less lower marginal mean measure ment monetary Notes observations output percent period player political population positive possible preferences Press probability problem question ratio reduce regression relative reported Research response Review risk rules sample schooling sector shocks significant social spending standard statistically studies suggests Table theory tion trade transfer United University utility variables wage welfare workers