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Carnegie-Rochester Conference Series on Public Policy最新文献

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The target mechanism: Will it propagate or stifle a stage III crisis? 目标机制:它会传播还是扼杀第三阶段危机?
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00010-5
Peter M Garber
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引用次数: 44
The target mechanism: will it propagate or stifle a stage III crisis? 目标机制是:它会传播还是扼杀第三阶段危机?
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00011-7
Carlo Monticelli
{"title":"The target mechanism: will it propagate or stifle a stage III crisis?","authors":"Carlo Monticelli","doi":"10.1016/S0167-2231(00)00011-7","DOIUrl":"10.1016/S0167-2231(00)00011-7","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Pages 221-228"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00011-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76173343","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is Europe going too far? 欧洲是否走得太远了?
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00002-6
Alberto Alesina, Romain Wacziarg
{"title":"Is Europe going too far?","authors":"Alberto Alesina,&nbsp;Romain Wacziarg","doi":"10.1016/S0167-2231(00)00002-6","DOIUrl":"10.1016/S0167-2231(00)00002-6","url":null,"abstract":"<div><p>This paper examines the process of European political integration. We start with a political-economy model of monetary policy, illustrating a general principle: economic integration requires setting up European institutions endowed with the authority to enact Europe-wide policies. On the other hand, when countries can take advantage of scale effects thanks to economic integration, the need for large countries is reduced. Thus increased economic integration reduces the need for political integration in Europe. To reconcile these views, we propose a model for the optimal allocation of prerogatives across levels of government. When the provision of public goods is characterized by cross-border spillovers, some centralization of policies is needed to internalize the externality. These gains from centralization must be traded-off against the costs from imposing the same policies upon heterogeneous groups. The optimal allocation of prerogatives results from this trade-off. Using our model as a benchmark, we analyze the institutional incentives at play for the allocation of political prerogatives in Europe and conclude that the EU has gone too far on most issues.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Pages 1-42"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00002-6","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126892628","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 147
Financial markets' assessments of EMU 金融市场对欧洲货币联盟的评估
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00013-0
Carlo A Favero
{"title":"Financial markets' assessments of EMU","authors":"Carlo A Favero","doi":"10.1016/S0167-2231(00)00013-0","DOIUrl":"10.1016/S0167-2231(00)00013-0","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Pages 271-280"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00013-0","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81186983","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Financial markets' assessments of EMU 金融市场对欧洲货币联盟的评估
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00012-9
David S Bates
{"title":"Financial markets' assessments of EMU","authors":"David S Bates","doi":"10.1016/S0167-2231(00)00012-9","DOIUrl":"10.1016/S0167-2231(00)00012-9","url":null,"abstract":"<div><p>This paper reviews the assumptions and methodologies underlying “EMU probability calculators,” which infer from financial data the probability of specific countries joining the European Monetary Union. Some historical evidence is presented in support of the expectations hypothesis for intra-European interest-rate differentials underlying most calculators, while various potential biases are deemed negligible. The various EMU calculators differ primarily in their scenarios for intra-European interest-rate differentials conditional upon EMU not occurring. This paper also discusses what can be inferred from financial data regarding future policies of the European Central Bank.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Pages 229-269"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00012-9","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76245808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Introduction to the series 本系列简介
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(99)90015-5
B.T McCallum (Editor), C.I Plosser (Editor)
{"title":"Introduction to the series","authors":"B.T McCallum (Editor),&nbsp;C.I Plosser (Editor)","doi":"10.1016/S0167-2231(99)90015-5","DOIUrl":"https://doi.org/10.1016/S0167-2231(99)90015-5","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Page v"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(99)90015-5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136941082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Interregional and international risk-sharing and lessons for EMU 区域间和国际风险分担和欧洲货币联盟的经验教训
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00008-7
Jacques Mélitz, Frédéric Zumer
{"title":"Interregional and international risk-sharing and lessons for EMU","authors":"Jacques Mélitz,&nbsp;Frédéric Zumer","doi":"10.1016/S0167-2231(00)00008-7","DOIUrl":"10.1016/S0167-2231(00)00008-7","url":null,"abstract":"<div><p>How much risk-sharing takes place between regions within countries, between countries internationally, and what are the lessons for EMU? We study these questions based on regional data from the U.S., Canada, the UK, and Italy, and national data from an international sample of 23 OECD countries, including all 15 EU members, and do so with the aid of a modified version of a model by Asdrubali, Sørensen, and Yosha. In conclusion, we find that even though the surrender of monetary policy will reduce the capacity of the members of EMU to smooth shocks via macroeconomic policy, the regime will promote smoothing of shocks via market channels.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Pages 149-188"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00008-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126245139","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 211
Is Europe going too far? 欧洲是否走得太远了?
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-12-01 DOI: 10.1016/S0167-2231(00)00003-8
Sylvester C.W Eijffinger
{"title":"Is Europe going too far?","authors":"Sylvester C.W Eijffinger","doi":"10.1016/S0167-2231(00)00003-8","DOIUrl":"10.1016/S0167-2231(00)00003-8","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"51 ","pages":"Pages 43-49"},"PeriodicalIF":0.0,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00003-8","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85979270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Will social security and medicare remain viable as the U.S. population is aging? 随着美国人口的老龄化，社会保障和医疗保险是否仍然可行?
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-06-01 DOI: 10.1016/S0167-2231(99)00021-4
Douglas H. Joines
{"title":"Will social security and medicare remain viable as the U.S. population is aging?","authors":"Douglas H. Joines","doi":"10.1016/S0167-2231(99)00021-4","DOIUrl":"10.1016/S0167-2231(99)00021-4","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"50 ","pages":"Pages 55-60"},"PeriodicalIF":0.0,"publicationDate":"1999-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(99)00021-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79009496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Social security and institutions for intergenerational, intragenerational, and international risk-sharing 代际、代际和国际风险分担的社会保障和制度
Carnegie-Rochester Conference Series on Public Policy Pub Date : 1999-06-01 DOI: 10.1016/S0167-2231(99)00026-3
Robert J. Shiller
{"title":"Social security and institutions for intergenerational, intragenerational, and international risk-sharing","authors":"Robert J. Shiller","doi":"10.1016/S0167-2231(99)00026-3","DOIUrl":"10.1016/S0167-2231(99)00026-3","url":null,"abstract":"<div><p>Social security system old-age insurance systems are devices for the sharing of income risks of elderly people with others. Risks can be shared intergenerationally (with the young of the same country), intragenerationally (with other elderly of the same country), or internationally (with foreigners).</p><p>Barriers to individuals themselves sharing their risks intergenerationally, intragenerationally, or internationally are described. Optimal design of government-sponsored social security systems is considered in light of these barriers. Alternative benefits and contributions formulas for pay-as-you-go social security systems are defined and compared with existing and proposed formulas in terms of their ability to fulfill the government's role in promoting risk-sharing. Benefits for each retired person may be tied to that person's lifetime income without causing (as with the U.S. benefits formula today) aggregate benefits for all elderly today to be tied to their past aggregate income.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"50 ","pages":"Pages 165-204"},"PeriodicalIF":0.0,"publicationDate":"1999-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(99)00026-3","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121973866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 150
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