作者：Debrun, X
作者单位：International Monetary Fund
摘要：Various authors argue that the European Central Bank (ECB) closely resembles the Bundes-bank because of similarities in the legal status and in the behaviour of the two institutions. That 'twin-sister hypothesis' (TSH) contrasts with theoretical analyses that often assume a 'symmetric' ECB. We propose a model where countries bargain over the 'type' of the ECB, defined as the set of relative weights attached to individual preferences in the joint objective function of the bank. We find the cond...
作者：Cooper, B; García-Peñalosa, C; Funk, P
作者单位：Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; University of Cologne
摘要：This paper explains the observed stagnation of 'happitiess' measures through a growth model in which agents care about conspicuous consumption. 'Normal goods' confer direct utility, While 'Status goods' confer utility only at the expense of others. Firms can improve the quality of both goods through R&D. The Nash equilibrium of the consumer game results in the share of expenditure on status goods increasing with the number of times the status good has been improved. As the economy grows, resou...
