Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten
Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned.
Research
Reforming the Budget: Four Steps to Restore Fiscal Discipline
America’s dysfunctional budget process has been mired in federal shutdowns and debt ceiling brinksmanship for the past several years.
Signaling with Audits: Mimicry, Wasteful Expenditures, and Non-Compliance in a Model of Tax Enforcement
The audit policy of a tax authority can signal its audit effectiveness. We model this process and show that in limited circumstances an ineffective authority can masquerade as being effective.
Crowding Out Redefined: The Role of Reserve Accumulation
A new volume, Prospects for Asia and the Global Economy, summarizes the 2013 Asia Economic Policy Conference hosted by the Federal Reserve Bank of San Francisco’s Center for Pacific Basin Studies.
Investment In The Wake of Crises: Asia 15 Years Later
Financial crises cast a long shadow on investment.
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile
Book abstract: After two decades of relative neglect, fiscal policy is back at the center of the economics research agenda.
An Estimate of the Effect of Common Currencies on Trade and Income
Professor Taylor and Professor Manzur offer in this volume a selection of published articles by leading scholars which are representative of recent key developments in this area of study.
A Lesson From the South for Fiscal Policy in the US and Other Advanced Countries
What can America learn from countries as faraway and diverse as Bhutan, Chile, Denmark, Nigeria and South Korea? Quite a lot, as it turns out.
Of Debt, Growth, Interest Rates & History
The authors address the indisputable fact that high real interest rates place an added burden on debtors, whether they are households, companies or governments.
Do Expiring Budgets Lead to Wasteful Year-End Spending? Evidence from Federal Procurement
Many organizations have budgets that expire at the end of the fiscal year.
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