Fiscal policy and social security policy during the 1990s
In: NBER working paper series 8488
8 Ergebnisse
Sortierung:
In: NBER working paper series 8488
In: Brookings Papers on Economic Activity, Forthcoming
SSRN
In: Wharton Pension Research Council Working Paper No. 2023-14
SSRN
In: NBER Working Paper No. w3904
SSRN
In: Journal of Monetary Economics, Band 53, Heft 1, S. 123-150
In: http://hdl.handle.net/2027/coo.31924100654916
"The stabilization of economic activity in the mid 1980s has received considerable attention. Research has focused primarily on the role played by milder economic shocks, improved inventory management, and better monetary policy. This paper explores another potential explanation: financial innovation. Examples of such innovation include developments in lending practices and loan markets that have enhanced the ability of households and firms to borrow and changes in government policy such as the demise of Regulation Q. We employ a variety of simple empirical techniques to identify links between the observed moderation in economic activity and the influence of financial innovation on consumer spending, housing investment, and business fixed investment. Our results suggest that financial innovation should be added to the list of likely contributors to the mid-1980s stabilization." ; Includes bibliographical references. ; "The stabilization of economic activity in the mid 1980s has received considerable attention. Research has focused primarily on the role played by milder economic shocks, improved inventory management, and better monetary policy. This paper explores another potential explanation: financial innovation. Examples of such innovation include developments in lending practices and loan markets that have enhanced the ability of households and firms to borrow and changes in government policy such as the demise of Regulation Q. We employ a variety of simple empirical techniques to identify links between the observed moderation in economic activity and the influence of financial innovation on consumer spending, housing investment, and business fixed investment. Our results suggest that financial innovation should be added to the list of likely contributors to the mid-1980s stabilization." ; Mode of access: Internet.
BASE
In: NBER Working Paper No. w8488
SSRN
In: NBER Working Paper No. w6196
SSRN