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Showing 4,001-4,020 of 18,034 items.

The Mirage of Fixed Exchange Rates

[Symposium: The Monetary Transmission Mechanism]

By Maurice Obstfeld and Kenneth Rogoff

Journal of Economic Perspectives, Fall 1995

This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global capital markets. Contrary to popular wisdom, industrialized-country monetary authorities easily have the resources to defend exchange paritie...

Incentives, Commitments, and Habit Formation in Exercise: Evidence from a Field Experiment with Workers at a Fortune-500 Company

By Heather Royer, Mark Stehr, and Justin Sydnor

òòò½Íø Journal: Applied Economics, July 2015

Financial incentives have shown strong positive short-run effects for problematic health behaviors that likely stem from time inconsistency. However, the effects often disappear once incentive programs end. This paper analyzes the results of a large-scale...

Immigration and the Neighborhood

By Albert Saiz and Susan Wachter

òòò½Íø Journal: Economic Policy, May 2011

Within metropolitan areas, neighborhoods of growing immigrant settlement are becoming relatively less desirable to natives. We deploy a geographic diffusion model to instrument for the growth of immigrant density in a neighborhood. Our approach deals ex...

Safe Asset Scarcity and Aggregate Demand

By Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas

òòò½Íø Review, May 2016

We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming style environment. Acute safe asset scarcity forces the economy into a "safety trap" recession. In the open economy, safe asset scarcity spreads fro...

Competition in Loan Contracts

By Christine A. Parlour and Uday Rajan

òòò½Íø Review, December 2001

We present a model of an unsecured loan market. Many lenders simultaneously offer loan contracts (a debt level and an interest rate) to a borrower. The borrower may accept more than one contract. Her payoff if she defaults increases in the total amount bo...

Incentives in Organizations

[Symposium: The Firm and its Boundaries]

By Robert Gibbons

Journal of Economic Perspectives, Fall 1998

In this paper, the author summarizes four new strands in agency theory that help him think about incentives in real organizations. As a point of departure, The author begins with a quick sketch of the classic agency model. He then discusses static models ...