发布求助
文献互助 智能选刊 最新文献

The Quarterly review最新文献

筛选
英文 中文
Evaluating the welfare effects of alternative monetary arrangements 评估替代性货币安排的福利效应
The Quarterly review Pub Date : 1991-06-01 DOI: 10.21034/QR.1531
A. Imrohoroglu, E. Prescott
{"title":"Evaluating the welfare effects of alternative monetary arrangements","authors":"A. Imrohoroglu, E. Prescott","doi":"10.21034/QR.1531","DOIUrl":"https://doi.org/10.21034/QR.1531","url":null,"abstract":"The welfare effects of alternative monetary arrangements are computed for an economy calibrated to U.S. data. In the model world, people vary their holdings of liquid assets in order to smooth their consumption. In such worlds, we find that the feature of an arrangement that matters is the equilibrium after-tax real return on savings. We also find that relative to a tax on labor income, seigniorage is a poor source of revenue.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"31 1","pages":"3-10"},"PeriodicalIF":0.0,"publicationDate":"1991-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81933902","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: 44
The labor market implications of unemployment insurance and short-term compensation 失业保险和短期补偿对劳动力市场的影响
The Quarterly review Pub Date : 1991-06-01 DOI: 10.21034/QR.1532
Randall Wright
{"title":"The labor market implications of unemployment insurance and short-term compensation","authors":"Randall Wright","doi":"10.21034/QR.1532","DOIUrl":"https://doi.org/10.21034/QR.1532","url":null,"abstract":"Two types of unemployment insurance systems are studied. In one, unemployed workers receive benefits while those on reduced hours do not, as in North America (at least until recently). In the other, short-time compensation is paid to workers on reduced hours, as in Europe. With incomplete experience-rating of unemployment insurance taxes, the first system leads to inefficient temporary layoffs. The latter system does not lead to layoffs but does lead to inefficient hours per worker. Some cross-country evidence is presented regarding these effects. The implication of the analysis is that policy reform on the tax, not the benefit, side of the system is the best way to reduce the inefficiencies implied by both types of unemployment insurance.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"65 1","pages":"11-19"},"PeriodicalIF":0.0,"publicationDate":"1991-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83946650","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: 7
Defending zero inflation: all for naught 捍卫零通胀:一切都是徒劳
The Quarterly review Pub Date : 1991-03-01 DOI: 10.21034/QR.1522
W. Hoskins
{"title":"Defending zero inflation: all for naught","authors":"W. Hoskins","doi":"10.21034/QR.1522","DOIUrl":"https://doi.org/10.21034/QR.1522","url":null,"abstract":"Economists and policymakers disagree on the lengths central banks should go in pursuit of price stability and, in fact, on exactly what price stability means. This essay advocates that central banks try to maintain stable price levels in their countries, and it argues that the benefits of achieving this objective are worth the transition costs. The essay reviews some of the relevant academic literature on the economic effects of inflation and specifically addresses the issues of transition cost, fiscal dominance, and credibility.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"14 1","pages":"16-20"},"PeriodicalIF":0.0,"publicationDate":"1991-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75467077","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: 13
Procyclical prices: a demi-myth? 顺周期价格:半神话?
The Quarterly review Pub Date : 1991-03-01 DOI: 10.21034/QR.1524
H. Wolf
{"title":"Procyclical prices: a demi-myth?","authors":"H. Wolf","doi":"10.21034/QR.1524","DOIUrl":"https://doi.org/10.21034/QR.1524","url":null,"abstract":"This paper critically reevaluates recent claims that the postwar U.S. price level exhibits countercyclicality. While overall countercyclicality is confirmed, temporal disaggregation suggests a shift from pro- to countercyclicality in the early 1970s. Furthermore, the countercyclicality is markedly more pronounced for negative than for positive output innovations. The evidence thus casts doubt on single-source business cycle explanations.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"88 1","pages":"25-28"},"PeriodicalIF":0.0,"publicationDate":"1991-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81384831","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: 35
A suggestion for oversimplifying the theory of money 对过度简化货币理论的建议
The Quarterly review Pub Date : 1990-12-01 DOI: 10.21034/QR.1413
N. Wallace
{"title":"A suggestion for oversimplifying the theory of money","authors":"N. Wallace","doi":"10.21034/QR.1413","DOIUrl":"https://doi.org/10.21034/QR.1413","url":null,"abstract":"This paper, originally published in 1988, argues that there is nothing special about government-issued money, that without restrictions of some kind, privately issued money would be a perfect substitute for it. The paper describes the type of intermediation this argument implies for a laissez-faire economy. One important implication is that there would be only one risk-adjusted rate of return; either all assets would pay a low return to match that on money, or money would pay interest. Another important implication is that open market operations would be irrelevant. The paper argues that the reason we don't frequently observe economies with such characteristics is that governments generally impose restrictions which prevent the private issue of money. However, the paper does examine some historical periods when restrictions seemingly were not imposed. And it concludes with some reservations about the oversimplifying suggestion. The paper is reprinted, with permission, from the Economic Journal.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"48 1","pages":"19-26"},"PeriodicalIF":0.0,"publicationDate":"1990-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87310442","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: 21
A banking model in which partial suspension is best 部分停牌是最好的银行模式
The Quarterly review Pub Date : 1990-09-01 DOI: 10.21034/QR.1442
N. Wallace
{"title":"A banking model in which partial suspension is best","authors":"N. Wallace","doi":"10.21034/QR.1442","DOIUrl":"https://doi.org/10.21034/QR.1442","url":null,"abstract":"This paper establishes that partial suspension is an optimal arrangement in an aggregate-risk version of the Diamond-Dybvig (1983) model. The model is a variant of Wallace (1988) in which aggregate risk about the fraction of agents who \"want to\" consume early is limited to a small group who show up last to possibly withdraw early. Partial suspension means that when they do withdraw early, members of this group get less than those who showed up first to withdraw early. Limiting the aggregate risk to a group who show up last is a simplifying assumption because it makes it impossible to draw inferences about the aggregate state from the actions of those who show up first.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"23 1","pages":"11-23"},"PeriodicalIF":0.0,"publicationDate":"1990-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82107915","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: 139
Bad news from a forecasting model of the U.S. economy 来自美国经济预测模型的坏消息
The Quarterly review Pub Date : 1990-09-01 DOI: 10.21034/QR.1441
D. Runkle
{"title":"Bad news from a forecasting model of the U.S. economy","authors":"D. Runkle","doi":"10.21034/QR.1441","DOIUrl":"https://doi.org/10.21034/QR.1441","url":null,"abstract":"This paper describes and analyzes the 1990-92 economic forecasts of a Bayesian vector autoregression model developed by researchers at the Minneapolis Fed. The model's 1990 forecast was pretty bad - too optimistic about both inflation and economic growth, especially growth in consumption and housing. An analysis of the model's errors, however, turns up no reason to think the model is unsound. Based on data available on November 30, 1990, the model predicts weak economic conditions for the next two years: a likely recession in 1991 and moderate inflation and weak overall growth in 1991-92. The paper includes a technical appendix that describes how to statistically compare the accuracy of two sets of forecasts.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"00 1","pages":"2-10"},"PeriodicalIF":0.0,"publicationDate":"1990-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79019821","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: 2
The simple analytics of commodity futures markets: do they stabilize prices? Do they raise welfare? 商品期货市场的简单分析:它们能稳定价格吗?他们提高福利了吗?
The Quarterly review Pub Date : 1990-06-01 DOI: 10.21034/QR.1432
V. Chari, R. Jagannathan
{"title":"The simple analytics of commodity futures markets: do they stabilize prices? Do they raise welfare?","authors":"V. Chari, R. Jagannathan","doi":"10.21034/QR.1432","DOIUrl":"https://doi.org/10.21034/QR.1432","url":null,"abstract":"This paper uses a simple, graphical approach to analyze what happens to commodity prices and economic welfare when futures markets are introduced into an economy. It concludes that these markets do not necessarily make prices more or less stable. It also concludes that, contrary to common belief, whatever happens to commodity prices is not necessarily related to what happens to the economic welfare of market participants: even when futures markets reduce the volatility of prices, some people can be made worse off. These conclusions come from a series of models that differ in their assumptions about the primary function of futures markets, the structure of the industries involved, and the tastes and technologies of the market participants.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"10 1","pages":"12-24"},"PeriodicalIF":0.0,"publicationDate":"1990-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82598003","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: 5
Deflating the case for zero inflation 让零通胀的理由落空
The Quarterly review Pub Date : 1990-06-01 DOI: 10.21034/QR.1431
Chari Ravi Jagannathan
{"title":"Deflating the case for zero inflation","authors":"Chari Ravi Jagannathan","doi":"10.21034/QR.1431","DOIUrl":"https://doi.org/10.21034/QR.1431","url":null,"abstract":"This paper analyzes the U.S. congressional proposal to instruct the Federal Reserve to, in the next five years, lower inflation to zero from its current rate of around 5 percent. The paper concludes that, when other policy options are considered, the zero inflation policy is not advisable. Its benefits would be very small--possibly negative--while its costs would probably be significant. Other, more direct policy options could produce most of the same benefits with fewer costs. Among these alternative policies are deregulating interest rates on demand deposits, paying interest on financial institution reserves, lowering the federal tax rate on capital income, and indexing the federal tax code to inflation. ; Reprinted in Quarterly Review, v. 21, no. 3, Summer 1997.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"38 1","pages":"2-11"},"PeriodicalIF":0.0,"publicationDate":"1990-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90534084","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: 50
Vector autoregression evidence on monetarism: another look at the robustness debate 货币主义的向量自回归证据:对稳健性辩论的另一个看法
The Quarterly review Pub Date : 1990-03-01 DOI: 10.21034/QR.1422
R. Todd
{"title":"Vector autoregression evidence on monetarism: another look at the robustness debate","authors":"R. Todd","doi":"10.21034/QR.1422","DOIUrl":"https://doi.org/10.21034/QR.1422","url":null,"abstract":"This paper is a case study of the use of vector autoregression (VAR) models to test economic theories. It focuses on the work of Christopher A. Sims, who in 1980 found that relationships in economic data generated by a small VAR model were inconsistent with those implied by a simple form of monetarist theory. The paper describes the work of researchers who criticized Sims' results as not robust and Sims' response to these critics. The paper reexamines all of this work by estimating hundreds of variations of Sims' model. The paper concludes that both Sims and his critics are right: Sims' conclusion about monetarism is robust, but some of his other statistical results are not. In general, the paper concludes that VAR models can be used to test theories, but that any relationships they uncover in the data must be carefully checked for robustness.","PeriodicalId":78784,"journal":{"name":"The Quarterly review","volume":"29 1","pages":"19-37"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91304997","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: 84
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信