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作者:Pope, CL; Wimmer, LT
作者单位:Brigham Young University
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作者:Imrohoroglu, A; Imrohoroglu, S; Joines, DH
作者单位:University of Southern California
摘要:In this paper we develop an applied general equilibrium model to examine the effects of tax-favored retirement accounts on the capital stock. The results from our benchmark model indicate that a modest IRA contribution limit similar to that in effect during the early 1980's raises the steady-state capital stock by 6.18 percent; approximately 9 percent of IRA contributions constitutes incremental saving. Our results lend support to recent suggestions that retirement accounts with favorable tax ...
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作者:Azariadis, C; Smith, B
作者单位:University of California System; University of California Los Angeles; University of Texas System; University of Texas Austin
摘要:We study a one-sector growth model where capital investment is credit financed, and there is an adverse selection problem in credit markets. The presence of adverse selection creates an indeterminacy of equilibrium, Many equilibria display permanent fluctuations characterized by transitions between Walrasian regimes and regimes of credit rationing. Cyclical contractions involve declines in real interest rates, increases in credit rationing, and withdrawals of savings from banks. For some confi...
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作者:Davis, DR
作者单位:Harvard University; National Bureau of Economic Research
摘要:I consider trade between a flexible-wage America and a rigid-wage Europe. In a benchmark case, a move from autarky to free trade doubles European unemployment. American wages rise to the European level. Entry of the unskilled South to world markets raises European unemployment. Europe's commitment to the high wage wholly insulates America from the shock. Immigration to America raises American income, but lowers European income dollar for dollar, while European unemployment rises. Absent South-...
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作者:Frank, RG; Busch, SH; Berndt, ER
作者单位:Harvard University; Harvard Medical School; Massachusetts Institute of Technology (MIT)
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作者:McClellan, M; Noguchi, H
作者单位:Stanford University; Stanford University; National Bureau of Economic Research
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作者:McKenzie, LW
作者单位:University of Rochester