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Efficiency of small scale vegetable farms:policy implications for the rural poverty reduction in Nepal
DEA improve efficiency vegetable production women participation
2016/5/11
Poverty and hunger reduction are intertwined challenges and enduring issues in the world, particularly in developing countries. Improvement in the efficiency in vegetable farming helps the farmers inc...
Monetary Policy Implementation and Liquidity Management of the Czech Banking System
Interest rates Liquidity management Monetary policy implementation
2016/1/27
Implementation of monetary policy assumes that monetary policy instruments stabilize O/N interest rates to the proximity of main policy rate to archive monetary targets. The function of stabilizing me...
Inequality and Endogenous Trade Policy Outcomes
anti-trade bias inequality protectionism trade policy
2015/9/22
An enduring puzzle in international economics is why trade interventions are biased in favor of importcompeting rather than export sectors and therefore restrict trade. In this paper, we show that if ...
Trade and Investment under Policy Uncertainty:Theory and Firm Evidence
Investment Trade Uncertainty Policy Agreements
2015/9/22
Using a dynamic, heterogeneous firms model with sunk costs of exporting we show that: (i) investment and entry into export markets is reduced when trade policy is uncertain and (ii) credible preferent...
Policy Uncertainty, Trade and Welfare:Theory and Evidence for China and the U.S.
Policy Uncertainty Trade Welfare China the U.S.
2015/9/22
We examine the impact of policy uncertainty on trade and real income through firms’ export investments in general equilibrium. We quantify the trade policy causes and welfare effects of China’s export...
Asymmetric Shocks and Risk Sharing in a Monetary Union: Updated Evidence and Policy Implications for Europe
ˉnancial integration regional specialization
2015/9/21
We ˉnd that risk sharing in the European Union (EU) has been increasing over the
past decade due to increased cross-ownership of assets across countries. Industrial speciaization has also been increa...
Sticky Prices Versus Monetary Frictions:An Estimation of Policy Trade-offs
Bayesian Estimation Long-run Inflation Target Monetary Models Welfare Costs of Inflation
2015/9/18
We develop a two-sector monetary model with a centralized and decentralized market. Activities in the centralizedmarket resemble those in a standard New Keynesian economy with price rigidities. In the...
Term Structures of Inflation Expectations and Real Interest Rates:The Effects of Unconventional Monetary Policy
Term Structures Inflation Expectations Real Interest Rates Unconventional Monetary Policy
2015/9/18
Ináation expectations have recently received increased interest because of the uncertainty created by the Federal Reserveís unprecedented reaction to the Great Recession.The effect of this reaction on...
Informal Sector,Government Policy and Institutions
Ramsey problem Friedman rule ináation taxation
2015/9/18
We document cross-country dierences in informal activity, government policies and institutions using a data set covering 118 countries. Five key facts emerge: better institutions are associated with l...
Optimal Fiscal and Monetary Policy When Money is Essential
Friedman Rule intertemporal distortions micro-founded models of money
2015/9/18
We study optimal fiscal and monetary policy in an environment where explicit frictions giverise to valued money, making money essential in the sense that it expands the set of feasible trades. The two...
The project that is the subject of this report was approved by the Governing
Board of the National Research Council, whose members are drawn from the councils of
the National Academy of Sciences, th...
Monetary Policy During a Transition to Rational Expectations
Monetary Policy Rational Expectations
2015/8/5
In standard macroeconomic models incorporating the natural rate
hypothesis and rational expectations, monetary policy has no effect on
real variables. But the rational expectations assumption that e...
Stabilizing Powers of Monetary Policy under Rational Expectations
Stabilizing Powers Monetary Policy Rational Expectations
2015/8/5
The potential of monetary policy to stabilize fluctuations in output and
employment is demonstrated in a stochastic rational expectations model
in which firms choose, considering average profitabili...
The Determinants of Economic Policy with Rational Expectations
Economic Policy Rational Expectations
2015/8/5
This paper is a sumaary of remarks for a
panel discussion on "Rational Expectations and
the Control of the Econcatym. After a brief
review of the major issues in this area, it is
argued that the c...
An Econometric Business Cycle Model with Rational Expectations: Policy Evaluation Results
Rational Expectations Policy Evaluation Results
2015/8/5
An Econometric Business Cycle Model with Rational Expectations: Policy Evaluation Results.