The American Economic Review, Volume 85,Edições 1-3American Economic Association, 1995 |
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Página 153
... rules . Walsh ( 1993b ) demonstrates that , in some circumstances , a dismissal rule can substi- tute for a state - contingent wage contract . Legislated budget procedures , targeting rules , or publicly announced conditions un- der ...
... rules . Walsh ( 1993b ) demonstrates that , in some circumstances , a dismissal rule can substi- tute for a state - contingent wage contract . Legislated budget procedures , targeting rules , or publicly announced conditions un- der ...
Página 164
... rule , even though such rules are generally suboptimal in the presence of sup- ply shocks . More generally , when the cen- tral bank cares only about its transfer in- come , the optimal contract takes the form of a contingent inflation ...
... rule , even though such rules are generally suboptimal in the presence of sup- ply shocks . More generally , when the cen- tral bank cares only about its transfer in- come , the optimal contract takes the form of a contingent inflation ...
Página 552
... rules reduce the need for such saving while current tax rules reduce the return on savings . Together these studies help to explain the very low level of household saving in the United States . The present paper examines an important ...
... rules reduce the need for such saving while current tax rules reduce the return on savings . Together these studies help to explain the very low level of household saving in the United States . The present paper examines an important ...
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Evidence? | 17 |
Dan Kovenock and Gordon Phillips | 403 |
The Effect of Institutions on Economic Behavior | 409 |
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aggregate analysis assume average behavior benefits bill rate Bretton Woods Cambridge cartels central bank cheap talk choice coefficient consumption contract correlation cost countries deutsche mark drug effect employment equation estimates evidence expected fiat money firms forecast genotype growth households human capital hypothesis implies incentive income increase individual industry inflation investment Journal of Economic labor market lagged liquidity constraints marginal Medicaid ment minimum wage monetary policy monomorphic Nash equilibrium National nomic nontraded null hypothesis optimal output paper payoff function percent player political population preferences problem quota ratio reduce regression relative Research response revenue risk Robert sample sector shocks significant social Solow residuals spending statistically strategy studies supply shocks symmetric Nash Table tax rates theory tion tive trade University utility variables voters welfare workers y₁ zero