作者：Yeungnam University
摘要：Takahashi Korekiyo is remembered as a wise finance minister saving Japan from the Great Depression. The contribution of his policy measures however remains to be rigorously measured, with proper control of other forces also driving the recovery. Structural vector autoregression analysis of previously unexploited monthly data confirms the pivotal role of Takahashi's debt-financed fiscal expansion. Monetizing the public debts, the Bank of Japan maintained a neutral stance. The recovery was aided...
作者：Princeton University; University of Adelaide
作者：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
作者：University of Warwick
摘要：The behavior of principals and agents in the interwar Soviet economy can be studied through the failed attempt to develop a new aviation-engine technology based on the Steam turbine. Some possible approaches to the evaluation of R&D failure are outlined. Soviet R&D agents competed for funding within a command system. Principals funded ventures in a context of biased information and adverse selection. In the. presence of sunk costs budget constraints on individual projects were often loose, but...
作者：University System of Maryland; University of Maryland Baltimore County
