Economic Policy最新文献_第3页

What can keep euro area inflation high? 是什么让欧元区通胀居高不下?

3区经济学

Economic Policy Pub Date : 2023-11-14 DOI: 10.1093/epolic/eiad029

Ricardo Reis

引用次数: 0

An Empirical Approximation of the Effects of Trade Sanctions with an Application to Russia 贸易制裁效果的实证逼近——以俄罗斯为例

3区经济学

Economic Policy Pub Date : 2023-11-09 DOI: 10.1093/epolic/eiad027

Jean Imbs, Laurent Pauwels

{"title":"An Empirical Approximation of the Effects of Trade Sanctions with an Application to Russia","authors":"Jean Imbs, Laurent Pauwels","doi":"10.1093/epolic/eiad027","DOIUrl":"https://doi.org/10.1093/epolic/eiad027","url":null,"abstract":"Abstract We propose a data-based approximation of the effects of trade sanctions that can readily be computed on the basis of international input-output data. Approximated effects are very close to the exact responses obtained from a canonical multi-country multi-sector model, without having to make difficult calibration choices. We illustrate the approximation with trade sanctions against Russia and obtain estimates well within the existing range. Russia is much more affected by trade sanctions than the EU, even though the importance of EU markets for Russia has been falling, especially since 2014 with China picking up the slack. Within the EU the consequences are largest in ex-“satellite” countries of the Soviet Union: These countries do not typically have access to substitute markets and in fact have historically been highly dependent on Russia. This extreme and persistent dependence is at least partly explained by the existence of specific energy transporting infrastructure (pipelines) that appears to constrain tightly the production of electricity. Our proposed approximation is practical and can be implemented in a variety of contexts: We have developed a web-based dashboard, accessible at exposure.trade that can be used to approximate the costs of trade sanctions for any combinations of sanctioning and sanctioned countries or sectors.","PeriodicalId":47772,"journal":{"name":"Economic Policy","volume":" 41","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135291796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The legacy of Covid-19 in education 2019冠状病毒病对教育的影响

3区经济学

Economic Policy Pub Date : 2023-09-07 DOI: 10.1093/epolic/eiad016

Katharina Werner, Ludger Woessmann

引用次数: 5

Exchange rate and inflation under weak monetary policy: Turkey verifies theory 弱货币政策下的汇率与通货膨胀:土耳其验证理论

3区经济学

Economic Policy Pub Date : 2023-08-07 DOI: 10.1093/epolic/eiad020

Refet S Gürkaynak, Burçin Kısacıkoğlu, Sang Seok Lee

{"title":"Exchange rate and inflation under weak monetary policy: Turkey verifies theory","authors":"Refet S Gürkaynak, Burçin Kısacıkoğlu, Sang Seok Lee","doi":"10.1093/epolic/eiad020","DOIUrl":"https://doi.org/10.1093/epolic/eiad020","url":null,"abstract":"SUMMARY For the academic audience, this paper presents the outcome of a well-identified, large change in the monetary policy rule from the lens of a standard New Keynesian model and asks whether the model properly captures the effects. For policymakers, it presents a cautionary tale of the dismal effects of ignoring basic macroeconomics. In doing so, it also clarifies how neo-Fisherian disinflation may work or fail, in theory and in practice. The Turkish monetary policy experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation, provides an unfortunately clean exogenous variance in the policy rule. The mandate to keep rates low, and the frequent policymaker turnover orchestrated by the government to enforce this, led to the Taylor principle not being satisfied and eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in an emerging economy with large identifying variance in the policy rule? There are no surprises for students of open-economy macroeconomics; the answers are no, no and yes.","PeriodicalId":47772,"journal":{"name":"Economic Policy","volume":"76 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135902911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Should higher education be subsidized more? 高等教育应该得到更多的补贴吗?

3区经济学

Economic Policy Pub Date : 2023-08-01 DOI: 10.1093/epolic/eiad019

Koen Declercq, Erwin Ooghe

{"title":"Should higher education be subsidized more?","authors":"Koen Declercq, Erwin Ooghe","doi":"10.1093/epolic/eiad019","DOIUrl":"https://doi.org/10.1093/epolic/eiad019","url":null,"abstract":"SUMMARY We investigate in which countries fiscal externalities provide a justification for increasing subsidies to higher education. First, we show that the marginal fiscal recovery rate, i.e., the ratio of the change in total net fiscal revenues and the change in total subsidy costs caused by a small change in tuition subsidies, is the key statistic: if larger than a well-specified threshold value, then a small increase in subsidies is desirable from a welfare point of view. We also show that the marginal fiscal recovery rate depends on three statistics: the elasticity of participation with respect to subsidies, the success probability of the marginal student, and the ratio of the net fiscal revenue gain and the subsidy level of a degree in higher education. Second, we use this formula to approximate the marginal fiscal recovery rate in twenty OECD countries. The average marginal fiscal recovery rate is equal to 0.94, meaning that, on average, 0.94 euro is recovered of an increase in subsidies by one euro. This average hides substantial heterogeneity between countries. In six countries, the marginal fiscal recovery rate is larger than one, implying that an increase in subsidies to higher education is unambiguously desirable (i.e., a Pareto improvement) in these countries. In the other 14 countries, the marginal fiscal recovery rate is below one. Yet, if the degree of inequality aversion is not extreme, then increasing subsidies is also desirable in 12 additional countries. Third, to check the quality of our approximation of the marginal fiscal recovery rate, we simulate it for Belgium (region of Flanders) on the basis of a more detailed model. This simulation provides a somewhat lower, yet fairly similar result compared to the approximation.","PeriodicalId":47772,"journal":{"name":"Economic Policy","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135971866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The effects of natural resource revenues on municipal finance 自然资源收入对市政财政的影响

3区经济学

Economic Policy Pub Date : 2023-02-28 DOI: 10.1093/epolic/eiad015

Patrick Leisibach, Simon Luechinger, Jonas Roellin, Christoph A Schaltegger

引用次数: 0

Behind the Veil: the Effect of Banning the Islamic Veil in Schools 面纱背后:禁止在学校佩戴伊斯兰面纱的影响

IF 2.5 3区经济学

Economic Policy Pub Date : 2022-12-16 DOI: 10.1093/epolic/eiac069

Éric Maurin, Nicolás Navarrete H

引用次数: 0

Immigration and Teacher Bias towards Students with an Immigrant Background 移民和教师对有移民背景学生的偏见

IF 2.5 3区经济学

Economic Policy Pub Date : 2022-12-14 DOI: 10.1093/epolic/eiac068

Marco Alberto De Benedetto, Maria De Paola

引用次数: 0

Gender Biases: Evidence from a Natural Experiment in French Local Elections 性别偏见:来自法国地方选举自然实验的证据

IF 2.5 3区经济学

Economic Policy Pub Date : 2022-12-10 DOI: 10.1093/epolic/eiac067

Jean-Benoît Eyméoud, Paul Vertier

{"title":"Gender Biases: Evidence from a Natural Experiment in French Local Elections","authors":"Jean-Benoît Eyméoud, Paul Vertier","doi":"10.1093/epolic/eiac067","DOIUrl":"https://doi.org/10.1093/epolic/eiac067","url":null,"abstract":"Women are underrepresented in politics. In this paper, we test one of the potential explanations for this situation: gender biases from voters. We use a natural experiment during French local elections in 2015: for the first time in this country, candidates had to run in pairs, that had to be gender-balanced. We argue that this reform confused some voters, who might have assumed that the first name on the ballot represented the “main” candidate. Since the order of the candidates on the ballot was determined by their alphabetical order, the order of appearance of male and female candidates was as-good-as-random, and this setting allows us to isolate gender biases from selection effects. Our main result is that there exists a negative gender bias affecting right-wing candidates, whose vote shares were lower by 1.5 percentage points when the female candidate appeared first on the ballot. The missing votes prevented some pairs of candidates from proceeding to the second round of voting. Using data on newspaper circulation and additional institutional features of the election - namely the fact that candidates can (but do not have to) report additional information about themselves on the ballot - we show that higher levels of information decrease discrimination. We argue that the discrimination we identify is, therefore, likely to be statistical.","PeriodicalId":47772,"journal":{"name":"Economic Policy","volume":"23 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138541362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Covid-Induced School Closures in the US and Germany: Long-Term Distributional Effects 美国和德国因新冠肺炎导致的学校停课:长期分配效应

IF 2.5 3区经济学

Economic Policy Pub Date : 2022-09-10 DOI: 10.1093/epolic/eiac052

Nicola Fuchs-Schündeln

引用次数: 0