Index Catalog // Research Database

A Second Look at the U.S. Great Depression from a Neoclassical Perspective

Alpha Creator Tesim:: Cole, Harold L. and Ohanian, Lee E.
描述:: Data supporting the chapter "A Second Look at the U.S. Great Depression from a Neoclassical Perspective."

The Great U.K. Depression: A Puzzle and Possible Resolution

Alpha Creator Tesim:: Cole, Harold L. and Ohanian, Lee E.
描述:: Data supporting the chapter "The Great U.K. Depression: A Puzzle and Possible Resolution."

Valuation equilibria with clubs

Alpha Creator Tesim:: Cole, Harold Linh, 1957- and Prescott, Edward C.
Series:: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
Number:: 524
关键词:: Consumption and General equilibrium
学科:: D50 - General equilibrium and disequilibrium - General

Reputation spillover across relationships with enduring and transient benefits : reviving reputation models of debt

Alpha Creator Tesim:: Cole, Harold Linh, 1957- and Kehoe, Patrick J.
Series:: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
Number:: 534
关键词:: Loans and Debt
学科:: F34 - International finance - International lending and debt problems and E61 - Macroeconomic policy, macroeconomic aspects of public finance, and general outlook - Policy objectives ; Policy designs and consistency ; Policy coordination

Contribution to the theory of pork barrel spending, a

Alpha Creator Tesim:: Chari, V. V. and Cole, Harold Linh, 1957-
Series:: Conference on economics and politics
关键词:: Government policies and Free rider
学科:: D72 - Analysis of collective decision-making - Models of political processes : Rent-seeking, elections, legislatures, and voting behavior and H41 - Publicly provided goods - Public goods

Neoclassical analysis of Britain's interwar depression, a

Alpha Creator Tesim:: Cole, Harold Linh, 1957- and Ohanian, Lee E.
Series:: Great depressions of the twentieth century
关键词:: Great Britain, United Kingdom, Unemployment, Employment, Depression, England, and Monetary
学科:: N14 - Macroeconomics and monetary economics ; Growth and fluctuations - Europe : 1913-, E24 - Macroeconomics : Consumption, saving, production, employment, and investment - Employment ; Unemployment ; Wages ; Intergenerational income distribution ; Aggregate human capital, E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles, and E65 - Macroeconomic policy, macroeconomic aspects of public finance, and general outlook - Studies of particular policy episodes

New Deal policies and the persistence of the Great Depression : a general equilibrium analysis

Alpha Creator Tesim:: Cole, Harold Linh, 1957- and Ohanian, Lee E.
Series:: Great depressions of the twentieth century
Abstract Tesim:: There are two striking aspects of the recovery from the Great Depression in the United States: the recovery was very weak and real wages in several sectors rose significantly above trend. These data contrast sharply with neoclassical theory, which predicts a strong recovery with low real wages. We evaluate whether New Deal cartelization policies designed to limit competition among firms and increase labor bargaining power can account for the persistence of the Depression. We develop a model of the intraindustry bargaining process between labor and firms that occurred with these policies, and embed that model within a multi-sector dynamic general equilibrium model. We find that New Deal cartelization policies are an important factor in accounting for the post-1933 Depression. We also find that the key depressing element of New Deal policies was not collusion per se, but rather the link between paying high wages and collusion.
关键词:: New Deal, Great Depression, Competition, Cartels, Wages, and Collective bargaining
学科:: D50 - General equilibrium and disequilibrium - General and J58 - Labor-management relations, trade unions, and collective bargaining - Public policy

Social norms, savings behavior, and growth

Alpha Creator Tesim:: Cole, Harold Linh, 1957-, Mailath, George Joseph., and Postlewaite, A.
Series:: Economic growth and development
关键词:: CARESS Working Paper #91-14
学科:: D90 - Intertemporal Choice and Growth: General, A13 - Relation of Economics to Social Values, and O41 - One, Two, and Multisector Growth Models

Efficient borrowing and savings constraints

Alpha Creator Tesim:: Cole, Harold Linh, 1957- and Kocherlakota, Narayana Rao, 1963-
Series:: Endogenous incompleteness
关键词:: Savings constraints, Informational frictions, Income shocks, and Borrowing constraints
学科:: D82 - Information, knowledge, and uncertainty - Asymmetric and private information, D61 - Welfare economics - Allocative efficiency ; Cost-benefit analysis, and D91 - Intertemporal choice and growth - Intertemporal consumer choice ; Life cycle models and saving

Resumption of ending in a reputational model of sovereign debt

Alpha Creator Tesim:: Cole, Harold Linh, 1957-, Dow, James, 1961 -, and English, William B. (William Berkeley), 1960-
Series:: International perspectives on debt, growth, and business cycles
Abstract Tesim:: We consider a model of international sovereign debt where repayment is enforced because defaulting nations lose their reputation and consequently, are excluded from international capital markets. Underlying the analysis of reputation is the hypothesis that borrowing countries have different, unobservable, attitudes towards the future. Some regimes are relatively myopic, while others are willing to make sacrifices to preserve their access to debt markets. Nations' preferences, while unobservable, are not fixed but evolve over time according to a Markov process. We make two main points. First we argue that in models of sovereign debt the length of the punishment interval that follows a default should be based on economic factors rather than being chosen arbitrarily. In our model, the length of the most natural punishment interval depends primarily on the preference parameters. Second, we point out that there is a more direct way for governments to regain their reputation. By offering to partially repay loans in default, a government can signal its reliability. This type of signaling can cause punishment interval equilibria to break down. We examine the historical record on lending resumption to argue that in almost all cases, some kind of partial repayment was made.
学科:: H63 - National budget, deficit, and debt - Debt ; Debt management and F34 - International finance - International lending and debt problems

A Second Look at the U.S. Great Depression from a Neoclassical Perspective

The Great U.K. Depression: A Puzzle and Possible Resolution

Valuation equilibria with clubs

Reputation spillover across relationships with enduring and transient benefits : reviving reputation models of debt

Contribution to the theory of pork barrel spending, a

Neoclassical analysis of Britain's interwar depression, a

New Deal policies and the persistence of the Great Depression : a general equilibrium analysis

Social norms, savings behavior, and growth

Efficient borrowing and savings constraints

Resumption of ending in a reputational model of sovereign debt

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