Digitala Vetenskapliga Arkivet

Change search
Refine search result
1234567 101 - 150 of 455
CiteExportLink to result list
Permanent link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Rows per page
  • 5
  • 10
  • 20
  • 50
  • 100
  • 250
Sort
  • Standard (Relevance)
  • Author A-Ö
  • Author Ö-A
  • Title A-Ö
  • Title Ö-A
  • Publication type A-Ö
  • Publication type Ö-A
  • Issued (Oldest first)
  • Issued (Newest first)
  • Created (Oldest first)
  • Created (Newest first)
  • Last updated (Oldest first)
  • Last updated (Newest first)
  • Disputation date (earliest first)
  • Disputation date (latest first)
  • Standard (Relevance)
  • Author A-Ö
  • Author Ö-A
  • Title A-Ö
  • Title Ö-A
  • Publication type A-Ö
  • Publication type Ö-A
  • Issued (Oldest first)
  • Issued (Newest first)
  • Created (Oldest first)
  • Created (Newest first)
  • Last updated (Oldest first)
  • Last updated (Newest first)
  • Disputation date (earliest first)
  • Disputation date (latest first)
Select
The maximal number of hits you can export is 250. When you want to export more records please use the Create feeds function.
  • 101.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Helpman, Elhanan
    Department of Economics, Tel-Aviv University.
    Industrial Policy under Monopolistic Competition1985Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 102.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Helpman, Elhanan
    Tel-Aviv University.
    Trade Dynamics1986Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 103.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Jansson, Per
    Economics Department, Sveriges Riksbank.
    EMU Effects on International Trade and Investment2000Report (Other academic)
    Abstract [en]

    The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-1997, using modern time series methods. The long run revelations between exhange rate volatility and exports are mostly negative and in several cases insignificantly different from zero. Thus, these estimates do not provide much support for the hypothesis that the elimination of nominal exchange rate volatility will significantly increase trade within the EMU. However, the EMU will presumably lead to geographical concentration of production and therefore indirectly to increased trade within the EMU and - during a transitional stage - to increased foreign direct investment, both within the EMU and between the EMU and the rest of the world.

    Download full text (pdf)
    FULLTEXT01
  • 104.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Nordström, Håkan
    Swedish Board of Trade.
    Euro Effects on the Intensive and Extensive Margins of Trade2006Report (Other academic)
    Abstract [en]

    We estimate that the euro has increased trade within the eurozone by about 26 per cent and trade between the eurozone and outsiders by about 12 per cent on average for the years 2002-2005 compared to 1995-1998. The percentage increases were smaller for products that were exported every year during the sample period than for products that were not, indicating significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi-finished and finished products, in particular to industries with highly processed products such as pharmaceuticals and machinery.

    Download full text (pdf)
    FULLTEXT01
  • 105.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Nordström, Håkan
    Trade Volume Effects of the Euro: Aggregate and Sector Estimates2006Report (Other academic)
    Abstract [en]

    The gravity model is used to estimate the trade volume effects of the creation of the European currency union. The euro is estimated to have raised the level of aggregate trade between euro countries in 1998-2002 compared to 1989-1997 by 15 per cent and the level of trade with outside countries by 8 per cent. The effect is clearly increasing over time.

    Estimates for one-digit SITC sectors yield a concentration of effects to highly processed manufactures, indicating that the spillover is caused by increasing vertical specialization across countries.

    Download full text (pdf)
    FULLTEXT01
  • 106.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Nordström, Håkan
    World Trade Organisation, Geneva.
    Why do Pre-Tax Car Prices Differ so much Across European Countries?1995Report (Other academic)
    Abstract [en]

    The European car market is segmented by regulatory measures that support price discrimination by manufacturers and make consumer arbitrage difficult and costly. In a sample covering 43 models making up 80% of car sales in 11 countries in 1989-1992, we find that the average standard deviation of pre-tax prices across markets is 14%. The difference between the maximum price is typically about 50% of the average price. The price discrimination seems to be driven largely by taxes, tariffs and import quotas. For example, a quota raises the pre-tax price of the average Japanese car by 12% and of the average competing European car by 7%.

    Download full text (pdf)
    FULLTEXT01
  • 107.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Persson, Mats
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    When Bad Quality is Good Policy1987Report (Other academic)
    Abstract [en]

    We investigate product quality under different market forms (monopoly vs. perfect competition) and under different risk-sharing regimes (replacement warranty vs. no warranty). Because of our particular representation of quality we can determine optimal quality and optimal risk-sharing within one single model. Quality differes between risk-sharing regimes and not between market forms, but the market form determines optimal risk-sharing and therefore optimal quality. it can be optimal to place all risk with the risk-averse consumer instead of with the risk-neutral prducer(s). Given the market form, the risk-sharing regime that is optimal for the producer(s) is also optimal for the consumers.

    Download full text (pdf)
    FULLTEXT01
  • 108.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Persson, Torsten
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Svensson, Lars E.O.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Optimal Subsidies to Declining Industries: Efficiency and Equity Considerations1982Report (Other academic)
    Abstract [en]

    This paper consider equity vs. efficiency in a small economy that subsidizes an industry facing falling world market prices. Subsidies keep up output in the short run when wages and factors are rigid. But once introduced subsidies become permanent, because of pressures from vested interests. This creates misallocation of resources in the long run. An optimal efficiency subsidy balances the short-run gains and long-run losses. It should be raised when prices fall if there is full employment initially and lowered if there is unemployment. An optimal distribution subsidy, which aims at maintaining the sxisting income distribution, should always be raised.

    Download full text (pdf)
    FULLTEXT01
  • 109.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Staiger, Robert W.
    Stanford University.
    Adverse Selection in Credit Markets and Infant Industry Protectionism1989Report (Other academic)
    Abstract [en]

    This paper considers the role for infant industry protection when credit markets suffer from adverse risk selection. We show that asymmetric information about form-specific risk leads to under-funding of the infant industry in a competitive credit market. A small amount of infant industry protection is shown to be welfare improving, and the optimal infant industry tariff is derived. Finally, an alternative government policy of production subsidies is considered under the assumption that the government shares private knowledge with infant industry firms. We argue that a tariff may dominate production subsidies as an entry promoting devise in this context.

    Download full text (pdf)
    FULLTEXT01
  • 110.
    Flodén, Martin
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Lindé, Jesper
    Department of Economics, Stockholm School of Economics.
    Idiosyncratic Risk in the U.S. and Sweden: Is there a Role for Government Insurance?1998Report (Other academic)
    Abstract [en]

    We examine the effects of government redistribution schemes in an economy where agents are subject to uninsurable, individual specific productivity risk. In particular, we consider the trade-off between positive insurance effects and negative distortions on labor supply. We parametize the models by estimating productivity processes on Swedish and U.S. data. The estimation results show that agents in the U.S. are subject to more idiosyncratic risk than agents in Sweden. Distortions are significant but agents, particularly in the U.S., still like some government insruance. As a result of this exercise, we can construct Laffer curves for both countries. These peak when labor income tax rates are around 60 percent.

    Download full text (pdf)
    FULLTEXT01
  • 111.
    Forslund, Anders
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Wage Setting in Sweden: An Empirical Test of a Barebones Union Model1990Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 112.
    Fredriksson, Anders
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Dispatchers2009Report (Other academic)
    Abstract [en]

    It is a well-established fact that the government bureaucracy in many developing countries is large, difficult to understand, non-transparent and time-consuming. However, “de jure” bureaucratic procedures sometimes have little to do with how firms or individuals actually go about when dealing with the government bureaucracy. One institution that has emerged in many countries is a specialized intermediary, henceforth called dispatcher, that assists individuals and firms in their contracts with the public sector. It is often the workings of this “de facto” institution, rather than the de jure procedure, that determines outcomes. A model where firms demand a license from the government bureaucracy is developed in order to address two sets of questions related to the use of dispatchers. First, what is the impact of dispatchers on time and resources that firms spend in obtaining licenses and what is the impact on the degree of informality, i.e. on the fraction of firms that choose to not get the license? How do these results depend on the organization of bureaucrats and dispatchers, the regulatory framework and the extent of corruption in the bureaucracy? Second, what are the incentives of corrupt bureaucrats and dispatchers to try to make regulation more/less complicated? When are the incentives of bureaucrats and dispatchers to create “red tape” aligned? Ultimately and ideally, the answers to these questions can help explain why reforms of the public sector have been so difficult.

    Download full text (pdf)
    FULLTEXT01
  • 113.
    Fredriksson, Anders
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Informal Firms, Investment Incentives and Formalization2009Report (Other academic)
    Abstract [en]

    In a typical developing country, the majority of small firms are informal and entry costs into formality are high. This paper is motivated by these two observations. It asks the question of what can be expected in terms of firm investment, growth and formalization in such a setting. It also studies the effects of policies towards the informal sector on formalization decisions. I show that the investment paths and growth trajectories differ substantially between firms that choose to formalize and those (ex-ante almost identical firms) that do not. Second, the formalization decision depends non-trivially on the productivity of the informal firm, due to the balancing of an accumulation effect and a threshold effect. This, in turn, has an effect on how policies towards the informal sector should be designed. Third, when aggregating over firms and a range of larger firms, but also a “missing middle”, much in line with actual firm size distributions observed in developing countries. Fourth, the long-run form-size distribution turns out to depend on the initial firm-level stock of capital, a result that can be interpreted as a poverty/informality trap.

    Download full text (pdf)
    FULLTEXT01
  • 114.
    Frey, Bruno S.
    et al.
    University of Zurich .
    Schneider, Friedrich
    University of Zurich.
    Horn, Henrik
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Persson, Torsten
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    A Formulation and Test of a Simple Model of World Bank Behavior1983Report (Other academic)
    Abstract [en]

    There exists a large literature describing the behavior of international institutions. This literature is however, with few exceptions, purely descriptive, i.e. it lacks an analysis based on clearly stated behavioral assumptions leading to falsifiable and hence empirically testable hypotheses. A positive theory of the behavior of international organizations is thus lacking.

    This paper endeavours to provide a simple theoretical model of the behavior of such an international organization - The World Bank - using the traditional approach of maximizing a utility function subject to constraints (Sections 2 and 3). The theoretically derived hypotheses are empirically applied to the World Bank's granting of loans to developing countries during recent years (Section 4). A final part summarizes the main findings (Section 5).

    Download full text (pdf)
    FULLTEXT01
  • 115.
    Fridén, Lennart
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Fluctuations in the International Steel Market 1953-68: A Study of Import and Export Functions1972Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 116.
    Garber, Peter M.
    et al.
    Brown University.
    Svensson, Lars E.O.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    The Operation and Collapse of Fixed Exchange Rate Regimes1994Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 117.
    Gehrels, Franz
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Optimal Growth of an Open Economy1972Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 118.
    Gonzales-Eiras, Martin
    et al.
    Universidad de San Andrés.
    Prado, Jr., Jose Mauricio
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Determinants of Capital Intensive and R&D Intensive Foreign Direct Investment2007Report (Other academic)
    Abstract [en]

    We study the determinants of capital intensity and technology content of foreign direct investment, an important economic driving force for developing countries. For this purpose, we use sectoral industry data on U.S. foreign investment abroad, and data on host countries’ institutional characteristics, like investment climate, protection of property rights, labor standards and constitutional arrangements. Our regressions show that better protection of property rights has a significant positive effect on R&D but not on capital intensive capital flows. There is evidence that an increase in workers’ bargaining power results in a reduction of capital and technologically intensive foreign investment. And although the evidence with respect to constitutional arrangements is not very strong, presidential regimes appear to be less able than parliamentary ones to deliver policies attracting R&D intensive capital flows. This is consistent with recent research on the effects of constitutional arrangements on economic growth.

    Download full text (pdf)
    FULLTEXT01
  • 119.
    Gonzalez-Eiras, Martín
    et al.
    Universidad de San Andrés.
    Niepelt, Dirk
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Sustaining Social Security2004Report (Other academic)
    Abstract [en]

    This paper analyzes the sustainability of intergenerational transfers in politico-economic equililbrium. We argue that these transfers arise naturally in a Markov perfect equilibrium in the fundamental state variables. In contrast to earlier literature, our explanation does not resort to altruism, commitment, or trigger strategies but rests on the incentive for young households to monopolize capital accumulation, as pointed out by Kotlikoff and Rosenthal (1990). Since transfers to the old are instrumental in that respect, the vote-maximizing platform under electoral competition sustains a large social security system. Introducing fully rational voters and probabilistic voting in the standard Diamond (1965) OLG model, we find that transfers in politico-economic equilibrium are too high relative to the social optimum. Standard functional form assumptions yield analytical solutions for both the Ramsey and the probabilistic voting case. Under realistic parameter values, the model predicts a social security tax rate of 12 percent, as compared to a Ramsey tax rate of 3.5 percent. Other predictions of the model are also consistent with the data. Analytical solutions for the case with endogenous labor supply and tax distortions show the results of the model to be robust.

    Download full text (pdf)
    FULLTEXT01
  • 120.
    Gottfries, Nils
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    A Model of Nominal Contracts1989Report (Other academic)
    Abstract [en]

    A simple macroeconomic model with labor contracts is formulated. Under plausible conditions, i) the optimal labor contract leaves employment to be determined by the firm, ii) a small cost for writing a state-contingent contract may be sufficient to induce forms and insiders to write contracts with fixed nominal wages, so that iii) fluctuations in nominal demand lead to variations in output and employment.

    Download full text (pdf)
    FULLTEXT01
  • 121.
    Gottfries, Nils
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    A Permanent Demand Theory of Pricing1986Report (Other academic)
    Abstract [en]

    Based on standard statis models of firm behavior one would expect the price of goods to increase with demand for a given level of costs. In empirical studies prices have generally been found to be unaffected by short run variations in demand, however. The model in this paper is consistent with this stylised fact. In the model, a demand shock that is perceived as temporary may lead to unchanged or even lower prices, while a permanent demand shock leads to higher prices.

    Download full text (pdf)
    FULLTEXT01
  • 122.
    Gottfries, Nils
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Market Shares and Pricing Behavior in the Tradeables Industry: An Examination of Swedish Manufacturing1988Report (Other academic)
    Abstract [en]

    A model with customer flow dynamics is used to derive an export equation and an Euler equation for the pricing problem of the firm. The model is estimated on quarterly data for Swedish manufacturing exports. The results on the quantity side support the model relative to conventional lag specifications, but the results on the price side provide little support for the model.

    Download full text (pdf)
    FULLTEXT01
  • 123.
    Gottfries, Nils
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Price Dynamics of Exporting and Import Competing Firms1983Report (Other academic)
    Abstract [en]

    This paper presents a model of a market for an internationally traded good. Buyers, who are customers of one firms, are imperfectly informed about other firms' prices and it is costly for them to change from one supplier to another. This leads to dynamic market share equations, which allow analysis of the interaction between price/quantity decisions of exporting and import competing firms. The model generates results which are consistent with empirical findings.

    Download full text (pdf)
    FULLTEXT01
  • 124.
    Gottfries, Nils
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Horn, Henrik
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Wage Formation and the Persistency of Unemployment1986Report (Other academic)
    Abstract [en]

    This paper suggests a reason why in an economy with nominal wage contracts, the effects of monetary shocks persist after labor contracts have been renegotiated. The basic idea isthat employed and unemployed workers have diverging interests. Since employed workeres for a majority of union membership, union decisions are likely to favor the interest of those employed. A monetary shock affects employment within the contract period, when nominal wages are given. Since employment, in turn, affects the risk that employed workers will lose their jobs, a change in employment will have consequences for future wages and employment levels.

    Download full text (pdf)
    FULLTEXT01
  • 125.
    Gottfries, Nils
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    McCormick, Barry
    Southampton University.
    Discrimination and Open Employment in a Segmented Labour Market1990Report (Other academic)
    Abstract [en]

    A segmented labour market model is presented, where discrimination of secondary sector workers in endogenous. Workers who are laid off from the primary sector are unwilling to take jobs in the secondary sector since this reduces their chance to return to the primary sector. Temporary shocks have persistent effects on the sectoral allocation of workers and on aggregate output.

    Download full text (pdf)
    FULLTEXT01
  • 126.
    Gottfries, Nils
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Palmer, Edward
    National Board of Insurance.
    Persson, Torsten
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Regulation, Financial Buffer Stocks, and Short-Run Adjustment: An Economic Case-Study of Sweden, 1970-821987Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 127.
    Gottfries, Nils
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Persson, Torsten
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Empirical Examinations of the Information Sets of Economic Agents1986Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 128.
    Gottfries, Nils
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Sjöström, Tomas
    Department of Economics, Harvard University.
    Profit Sharing may Stabilize Wages1992Report (Other academic)
    Abstract [en]

    We consider a contract between a risk neutral firm and its risk averse workers, which is signed before product demand is known. Unemployment insurance is imperfect. A fixed wage contract that allows the firm to choose the level of employment leads to too many layoffs in bad states. We show that a profit-sharing contract can be used to attain the efficient level of employment, while at the same time preserving optimal risk sharing between the parties. Under this contract wages are stabilised across states. Thus, a profit sharing contract may be useful when workers are risk averse and concerned about layoffs.

    Download full text (pdf)
    FULLTEXT01
  • 129.
    Grassman, Sven
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Exchange Reserves and the Financial Structure of Foreign Trade: A Study in Commercial Capital Movements1972Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 130.
    Grassman, Sven
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Some Widespread Misunderstandings in International Finance1971Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 131.
    Groth, Charlotta
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Johansson, Åsa
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Bargaining Structure and Nominal Wage Flexibility2002Report (Other academic)
    Abstract [en]

    In a model with hetergenous agents, wage setting by monopoly unions and monetary policy conducted by a central bank, we show that the duration of nominal wage contracts is u-shaped in the degree of centralization, with intermediate bargaining systems yielding contracts of shorter duration and thus more flexible nominal wages than both decentralized and centralized systems. We also find the degree of heterogeneity in the economy. The theoretical predictions of the model are tested on OECD data. There is empirical support for the main results regarding contract length, while there is less support for the predictions regarding the level of centralization.

    Download full text (pdf)
    FULLTEXT01
  • 132.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Credit Policy and Economic Activity in Developing Countries: An Evaluation of Stabilization Programs Supported by the IMF, 1977-791983Report (Other academic)
    Abstract [en]

    This paper reviews the relationship between credit policy, balance of payments, and growth performance in developing countries within the framework of an evaluation of performance under stabilization programs supported by the IMF during 1977-79. The macroeconomic implicatoins of the supply and cost effects of credit policy are explored with the aid of a simple analytical model of the determination of output and the balance of payments. Based on nonparametric comparisons between performance under the stabilization programs reviewed and the experience of a reference group, the empirical evidence indicates that a significant improvementof relatively modest (and statistically insignificant) reduction in the rate of growth of output during and immediately after the program period.

    Download full text (pdf)
    FULLTEXT01
  • 133.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Endogenous Growth and Inflation1991Report (Other academic)
    Abstract [en]

    A simple model of the simultaneous determination and interaction of inflation and economic growth is constructed by incorporating money into an optimal growth framework with constant returns to capital. Various channels through which increased inflation tends to reduce growth and declining growth tends to amplify inflation are discussed. Special attention is paid to the potential effects of inflation (a) on saving through real interest rates (or uncertainty), (b) on the income velocity of money, and (c) on the government budget deficit through the inflation tax and tax erosion. Numerical analysis of the model indicates that, although a wide variety of outcomes is possible, inflation and growth tend to be negatively correlated for reasonable values and constellations of the structural parameters of the model, and to vary inversely with one another in response to changes in individual parameters. In particular, budget deficits financed by monetary expansion tend to reduce growth in the long run through their interplay with inflation, saving behavior, portfolio choice, and taxes.

    Download full text (pdf)
    FULLTEXT01
  • 134.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Exchange Rate Policy, Inflation, and Unemployment: The Experience of the Nordic EFTA Countries1990Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 135.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Interest, Inflation and the Aggregate Consumption Function1979Report (Other academic)
    Abstract [en]

    This paper reports on an empirical study of the effects of interest rates and inflation on aggregate consumption in the United States. Empirical evidence, based on quarterly U.S. data from the postwar period, is first presented in support of the hypothesis that the real rate of interest varies inversely with the rate of inflation, at least in the short run. Regression estimates of an aggregate consumption function for the United States, also based on quarterly data from the postwar period, are then presented. These estimates indicate that the propensity to consume varies inversely with interest rates and directly with the rate of inflation.

    Download full text (pdf)
    FULLTEXT01
  • 136.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Optimal Saving, Interest Rates, and Endogenous Growth1993Report (Other academic)
    Abstract [en]

    The main point of this paper is that the apparent failure of economists thus far to establish a positive empirical link between interest rates and saving does not, by itself, discredit the hypothesis of a direct structural relationship between the two, ceteris paribus, because this structural relationship may be shifting about in response to changes in exogenous variables such as tastes and technology in a way that is consistent with any type of reduced-form correlation between interest rates and saving in the data. This point is demonstrated within a simple model of optimal saving, interest rates, and economic growth. The different implications of endogenous versus exogenous growth are explored in this context.

    Download full text (pdf)
    FULLTEXT01
  • 137.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Output Gains from Economic Liberalization: A Simple Formula1992Report (Other academic)
    Abstract [en]

    In this paper an attempt is made to clarify the contribution of economic liberalization to the current transition from plan to market in Central and Eastern Europe and elsewhere. Three main points are made. First, national output can be increased by removing relative price distortions, even in a classical world where full employment prevails at all times. Second, the output gain from removing a single distortion in a two-sector general-equilibrium model with full employment is captured in a simple formula in which the gain is proportional to the square of the original distortion. Third, substitution of a plausible parameter values into the simple formula indicates that the permanent output gain from economic liberalization may be quite substantial, other things being equal.

    Download full text (pdf)
    FULLTEXT01
  • 138.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Output Gains from Economic Stabilization1996Report (Other academic)
    Abstract [en]

    By driving a wedge between the marginal returns to real and financial capital, inflation distorts production. The elimination of this distortion increases both the level and rate of growth of output. First, increased price stability improves the utilization of capital and this increases the full-employment level of output in the long run, even though output decreases initially. Second, the static output gain from stabilization is captured in a simple formula in which the gain is approximately proportional to the square of the original inflation distortion. Third, successful stabilization increases the rate of growth of output per head, and not only its level, in the presence of constant returns to capital in a broad sense. Fourth, substitution of plausible parameter estimates into the simple formulae reflecting the gains from stabilization indicate that the static and dynamic output gains can be substantial.

    Download full text (pdf)
    FULLTEXT01
  • 139.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Rational Expectations, Rigid Wages, and the Real Effects of Monetary Policy1985Report (Other academic)
    Abstract [en]

    This paper attempts to provide the simplest possible proof that rational price expectations do not neutralize monetary policy in the short run provided that nominal wages are sticky. The proof is presented within a very simple aggregate demand and supply framework with fully flexible proces. Each of the following three phenomena: adjustment costs, competing wage claims, and long-term labor contracts, is then shown to be sufficient (but not necessary) to generate the nominal wage rigidity on which the nonneutrality result is based. The effects of wage indexation are also discussed.

    Download full text (pdf)
    FULLTEXT01
  • 140.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    The Macroeconomics of European Agriculture1994Report (Other academic)
    Download full text (pdf)
    FULLTEXT01
  • 141.
    Gylfason, Thorvaldur
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Why Rational Expectations do not Neutralize Monetary Policy1982Report (Other academic)
    Abstract [en]

    The purpose of this paper is to demonstrate within as simple a framework as possible that rational price expectations do not neutralize monetary policy in the presence of nominal wage stickiness due to overlapping long-term labor contracts or for other reasons.

    Download full text (pdf)
    FULLTEXT01
  • 142.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Helliwell, John F.
    University of British Columbia.
    A Synthesis of Keynesian, Monetary, and Portfolio Approaches to Flexible Exchange Rates1981Report (Other academic)
    Abstract [en]

    The purpose of this paper is to extend our earlier systhesis of monetary and Keynesian approaches to balance-of-payments theory under fixed exchange rates to the analysis of flexible exchange rates.

    We start with an overview of partial Keynesian, monetary, and portfolio approaches to the determination of exchange rates. We first develop two version of a partial Keynesian model (Meade 1951, Mundell 1962, Fleming 1962) in which the exchange rate is determined at the level that equilibrates the overall balance of payments. We then present three versions of a monetary approach, one assnuming continuous purchasing power parity (Frenkel 1976, Bilson 1978a), and the others assuming either covered interest parity (Dornbusch 1976a) or real interest parity (Frankel 1979). Both versions of the partial monetary approach use domestic and foreign demand-for-money equations as their only other ingredients. Finally, we present a partial portfolio model (Branson 1979) in which the exchange rate and the domestic interest rate vary to achieve equilibrium in a financial portfolio consisting of domestic bonds, foreign bonds, and domestic money. The portfolio approach and the monetary approach are often described as asset market approaches to the exchange rate, because the exchange rate moves in the short run to ensure that existing stocks for assets are willingly held. In the monetary approach, the only assets are national monies, while in the portfolio approach the assets include money and bonds.

    The partial approaches presented in section I give very different predictions about, for example, the exchange-rate effects of changes in income and interest rates. As a result, strong contrasts have been drawn between them, especially between the Keynesian and monetary approaches. The purpose of this paper, like that of our earlier paper, is to show that most of these contrasts are potentially misleading, since the partial approaches can be best seen as different parts of a larger system. Within the larger system which we develop in section II, we show that the differing predictions of the partial models are based in aprt on ignoring other important parts of the system, and in part on particular assumptions about expectatins and about the strength and speed of the international linkages among national markets for goods and financial assets.

    Download full text (pdf)
    FULLTEXT01
  • 143.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Lindbeck, Assar
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Comepting Wage Claims, Cost Inflation, and Capacity Utilization1982Report (Other academic)
    Abstract [en]

    This paper develops a theory of competing wage claims and cost inflation, and attempts to integrate this theory into the core of modern macroeconomic analysis. Specifically, the paper proposes an explanation for wage rigidity and wage interdependence based on an application of duopoly theory to labor union behavior into a macroeconomic general equilibrium model with goods, money, and bonds as well as two kinds of labor. Special emphasis is placed on the interplay between demand and cost factors in the inflation process and on the implications of wage competition among labor unions for the relationship between inflation and unemployment in the short and long run.

    Download full text (pdf)
    FULLTEXT01
  • 144.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Lindbeck, Assar
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Money, Exchange Rates, Wages, and Games1987Report (Other academic)
    Abstract [en]

    This paper is focused on the interaction of monetary policy and wage determination in open economies with strong labor unions. Applying some elements of game theory, the paper views both government and labor as endogenous utility maximizers, and studies the macroeconomic consequences af their interaction. In particular, the paper shows (a) how labor unions adjust wages optimally to prices following monetary expansion or devaluation; (b) how the ultimate effectiveness of policy is reduced (without necessarily being destroyed) by optimal union reactions; and (c) how the interplay of government and labor can create a persistent tendency to unemployment and inflation simultaneously.

    Download full text (pdf)
    FULLTEXT01
  • 145.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Lindbeck, Assar
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    The Macroeconomic Consequences of Endogenous Governments and Labor Unions1982Report (Other academic)
    Abstract [en]

    The purpose of this paper is to explore the relationship between government spending, wages, employment, and prices under different assumptions about the behavior patterns of governments and labor unions.

    For this purpose, we analyze the interaction between utility-maximizing labor unions and welfare- (or vote-) maximizing government from a game-theoretic point of view within a fairly general macroeconomic framework. Within this framework, both labor unions and the government are assumed to maximize objective functions subject to constraints imposed by the macroeconomic environment. Rational behavior requires each to react to changes in the behavior of the other. The aim of studying the process by which unions react and counterreact to government behavior and vice versa is to attempt to shed new light on the apaprently persistent inflationary bias of the economies of the industrial countries, the gradual increase in the size of the public sector of these countries over the years, and the role that changes in the preferences and the "world view" of governments, as well as in the political and economic strength of labor unions, have played in these developments.

    Download full text (pdf)
    FULLTEXT01
  • 146.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Lindbeck, Assar
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Wage Rigidity and Wage Rivalry: An Oligopolistic Approach1982Report (Other academic)
    Abstract [en]

    The aim of this paper is to present a theory of wages based on an application of oligopoly theory to labor unions, and to use this theory to explain why nominal wage rigidity in the short run does not necessarily imply money illusion or other forms of irrational behavior. Specifically, the paper shows formally that if workers are concerned about relative wages, rational behavior does not require them to demand full compensation for all price increases unless they expect all other workers to be fully compensated.

    Download full text (pdf)
    FULLTEXT01
  • 147.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Lindbeck, Assar
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Wages, Money, and Exchange Rates: With Endogenous Unions and Governments1986Report (Other academic)
    Abstract [en]

    This paper analyzes the role and macroeconomic impact of monetary and exchange rate policy as well as of wage formation in open economies where wages are primarily determined through collective bargaining among powerful labor unions and relatively weak employers. Applying some elements of game theory, the paper treats the government and unions as endogenous, and explores the macroeconomic consequences of their interaction. In particular, the paper argues, and demonstrates by numerical examples, that the ultimate effects of monetary expansion or devaluation (as well as of exogenous wage hikes) on incomes and prices depend cricually in the reaction patterns of both unions and government.

    Download full text (pdf)
    FULLTEXT01
  • 148.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Radetzki, Marian
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Does Devaluation Make Sense in the Least Developed Countries?1985Report (Other academic)
    Abstract [en]

    The focus of this study is on the short-to-medium-term effects of devalution in the least developed countries where a large part of the population barely survives on a subsistence wage. A general macroeconomic framwork for devaluation analysis in LDCs is developed. Empirical evidence is presented to demonstrate that devaluation can be an efficient means of reducing current account deficits in the least developed countries, provided that it is accompanied by domestic monetary restraint as well as by an infusion of foreign concessional finance, to avert or at least reduce the detrimental side effects on living standards that would otherwise occur during the period of adjustment to the new exchange rate.

    Download full text (pdf)
    FULLTEXT01
  • 149.
    Gylfason, Thorvaldur
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Risager, Ole
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Does Devaluation Improve the Current Account?1983Report (Other academic)
    Abstract [en]

    This paper incorporates the link between devaluation, foreign interest payments, and the current acccount into a fairly general macroeconomic model in which exchange rate changes influence aggregate demand through exports, imports, and expenditures as well as aggregate supply via the cost of imported factors of production. On the basis of avaliable statistical estimates of the behavioral and structural parameters of the model, an attempt is mafe to assess the empirical importance of this link among others in a group of highly indebted industrial and developing countries. By and large, the empirical results indicate that high foreign debt and interest payments tend to reduce the short-to-medium-run effect of devaluation on national income, expecially in the LDCs, but make little difference to its generally positive effect on the current account.

    Download full text (pdf)
    FULLTEXT01
  • 150.
    Hamilton, Carl
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Australian Manufacturing Industry During the 1970s: An International Comparison and Implications for the ASEAN Countries1983Report (Other academic)
    Abstract [en]

    One of the arguments for trade is that is enables countries to specialise in production of goods in which they have comparative advantage, eg in the Heckscher-Ohlin-Samuelson model. Regarding consumption, trade allows countries to consumer more of (a larger number of) goods than it would have under autarky. In this paper we start off by looking into these very basic propositions with an emphasis on Australia's structural change in manufacturing production 1970-79 compared with other industrialized countries.

    As a result of this investigation we extended the analysis to the demand side and the ASEAN countries. Thus in sections III:3 and IV:1 the link between home demand and domestic manufacturing production is analysed and compared between different developed and ASEAN countries. ASEAN coutnries' situation vis-a-vis Australia is focussed upon specifically in section IV not least with regard to textile, clothing and footwear. the paper ends with a summary in section V.

    When investigating the validity of the Heckscher-Ohlin-Samuelson model's predictions for trade pattern, one limits oneself to commodities where labour and capital are principal factors of production. This avoids natural resource intensive commodities on the assumption that the location of that type of production is determined by countries' endowments of particular natural resources. Eg Krueger (1977) concludes on empirical testing "that a meaningful interpretation of the Heckscher-Ohlin-Samuelson model must lie within the manufacturing sector in a world of many countries. Once the focus is so shifted, it becomes immediately apparent that the Heckscher-Ohlin-Samuelson predictions are more likely to be borne out in patterns of specialization within manufacturing [production) than in comparisons of factors proportions in the exporting and import competing industries" (p. 43).

    Download full text (pdf)
    FULLTEXT01
1234567 101 - 150 of 455
CiteExportLink to result list
Permanent link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf