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Monitoring, Motivation, and Management: The Determinants of Opportunistic Behavior in a Field Experiment

By Daniel S. Nagin, James B. Rebitzer, Seth Sanders, and Lowell J. Taylor

òòò½Íø Review, September 2002

Economic models of incentives in employment relationships are based on a specific theory of motivation: employees are "rational cheaters," who anticipate the consequences of their actions and shirk when the marginal benefits exceed costs. We investigate t...

Fiscal Consolidation in an Open Economy

By Christopher J. Erceg and Jesper ³¢¾±²Ô»åé

òòò½Íø Review, May 2012

his paper uses a New Keynesian DSGE model of a small open economy to compare how the effects of fiscal consolidation differ depending on whether monetary policy is constrained by currency union membership or by the zero lower bound on policy rates. We sho...

Stock Market Wealth and Consumption

By James M. Poterba

Journal of Economic Perspectives, Spring 2000

This paper explores the link between changes in the aggregate value of corporate stock and changes in consumer spending. It presents data on the distribution of corporate stock ownership based on the 1998 Survey of Consumer Finances. It also uses time-ser...

Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank's Economic Growth in the 1990s: Learning from a Decade of Reform

By Dani Rodrik

Journal of Economic Literature, December 2006

Proponents and critics alike agree that the policies spawned by the Washington Consensus have not produced the desired results. The debate now is not over whether the Washington Consensus is dead or alive, but over what will replace it. An important ma...

Inferring Carbon Abatement Costs in Electricity Markets: A Revealed Preference Approach Using the Shale Revolution

By Joseph A. Cullen and Erin T. Mansur

òòò½Íø Journal: Economic Policy, August 2017

This paper examines how carbon pricing would reduce emissions in the electricity sector. Both carbon prices and cheap natural gas reduce the historic cost advantage of coal plants. The shale revolution resulted in unprecedented variation in natural gas pr...