Journal of Economic Literature

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Shadow Economies: Size, Causes, and Consequences
Journal of Economic Literature - Tập 38 Số 1 - Trang 77-114 - 2000
Friedrich Schneider, Dominik H. Enste
Using various methods, the size of the shadow economy in 76 developing, transition, and OECD countries is estimated. Average size varies from 12 percent of GDP for OECD countries, to 23 percent for transition countries and 39 percent for developing countries. Increasing taxation and social security contributions combined with rising state regulations are driving forces for the increase of...... hiện toàn bộ
Structural Models of Nonequilibrium Strategic Thinking: Theory, Evidence, and Applications
Journal of Economic Literature - Tập 51 Số 1 - Trang 5-62 - 2013
Vincent P. Crawford, Miguel A. Costa‐Gomes, Nagore Iriberri
Most applications of game theory assume equilibrium, justified by presuming either that learning will have converged to one, or that equilibrium approximates people's strategic thinking even when a learning justification is implausible. Yet several recent experimental and empirical studies suggest that people's initial responses to games often deviate systematically from equilibrium, and ...... hiện toàn bộ
The Economic Effects of Energy Price Shocks
Journal of Economic Literature - Tập 46 Số 4 - Trang 871-909 - 2008
Lutz Kilian
Large fluctuations in energy prices have been a distinguishing characteristic of the U.S. economy since the 1970s. Turmoil in the Middle East, rising energy prices in the United States, and evidence of global warming recently have reignited interest in the link between energy prices and economic performance. This paper addresses a number of the key issues in this debate: What are energy p...... hiện toàn bộ
Forecasting Volatility in Financial Markets: A Review
Journal of Economic Literature - Tập 41 Số 2 - Trang 478-539 - 2003
Ser‐Huang Poon, Clive W. J. Granger
Civil War
Journal of Economic Literature - Tập 48 Số 1 - Trang 3-57 - 2010
Christopher Blattman, Edward Miguel
Most nations have experienced an internal armed conflict since 1960. Yet while civil war is central to many nations' development, it has stood at the periphery of economics research and teaching. The past decade has witnessed a long overdue explosion of research into war's causes and consequences. We summarize progress, identify weaknesses, and chart a path forward. Why war? Existing theo...... hiện toàn bộ
Reading About the Financial Crisis: A Twenty-One-Book Review
Journal of Economic Literature - Tập 50 Số 1 - Trang 151-178 - 2012
Andrew W. Lo
The recent financial crisis has generated many distinct perspectives from various quarters. In this article, I review a diverse set of twenty-one books on the crisis, eleven written by academics, and ten written by journalists and one former Treasury Secretary. No single narrative emerges from this broad and often contradictory collection of interpretations, but the sheer variety of concl...... hiện toàn bộ
Economic Perspectives on Corporate Social Responsibility
Journal of Economic Literature - Tập 50 Số 1 - Trang 51-84 - 2012
Markus Kitzmueller, Jay P. Shimshack
This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher welfare than other public good provision channels. We also explore why CSR does exist. Here,...... hiện toàn bộ
An Essay on Fiscal Federalism
Journal of Economic Literature - Tập 37 Số 3 - Trang 1120-1149 - 1999
Wallace E. Oates
This paper is a selective survey of fiscal federalism. It begins with a brief review and some reflections on the traditional theory of fiscal federalism: the assignment of functions to levels of government, the welfare gains from fiscal decentralization, and the use of fiscal instruments. It then explores a series of important topics that are the subject of current research: laboratory fed...... hiện toàn bộ
Macroeconomic Performance and Collective Bargaining: An International Perspective
Journal of Economic Literature - Tập 37 Số 3 - Trang 1150-1175 - 1999
Robert J. Flanagan
This paper critically reviews the research on how collective bargaining systems influence macroeconomic performance in industrialized countries. The review considers effects of bargaining level, coordination, and corporatist institutional arrangements. Key empirical results turn out to be quite fragile, and much of the paper explores issues of measurement and specification that account fo...... hiện toàn bộ
Climate Change Policy: What Do the Models Tell Us?
Journal of Economic Literature - Tập 51 Số 3 - Trang 860-872 - 2013
Robert S. Pindyck
Very little. A plethora of integrated assessment models (IAMs) have been constructed and used to estimate the social cost of carbon (SCC) and evaluate alternative abatement policies. These models have crucial flaws that make them close to useless as tools for policy analysis: certain inputs (e.g., the discount rate) are arbitrary, but have huge effects on the SCC estimates the models prod...... hiện toàn bộ
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