Zobrazeno 1 - 10
of 93
pro vyhledávání: '"Bruce A. Smith"'
THE TIMING OF TAX COLLECTIONS AND THE STRUCTURE OF 'IRRELEVANCE' THEOREMS IN A CASH-IN-ADVANCE MODEL
Autor:
Thomas J. Sargent, Bruce D. Smith
Publikováno v:
Macroeconomic Dynamics. 14:585-603
A standard timing protocol in a cash-in-advance model allows the government to elude the inflation tax. That matters. Altering the timing of tax collections to make the government hold cash overnight disables some classical propositions but enables o
Publikováno v:
Letters in Spatial and Resource Sciences. 2:31-44
Economic clusters have been delineated using Local Moran’s I and Getis-Ord G * because they distinguish relationships across areal unit boundaries within a specified neighborhood. A problem using spatial statistics with U.S. county data are the gre
Publikováno v:
Economic Development Quarterly. 22:345-352
One ongoing debate in the cluster literature concerns methods of delineating the spatial footprint of industrial clusters. Some cluster regions correspond to political boundaries. Researchers have also used qualitative methods and various quantitativ
Autor:
Bruce D. Smith, Pere Gomis-Porqueras
Publikováno v:
Canadian Journal of Economics/Revue canadienne d'conomique. 39:296-319
In this paper, we expand previous models with banks and money and explore the consequences of seasonals in the banking system. We find that, when bank failures occur, not all of them have associated large output losses and currency premiums exist. We
Publikováno v:
Journal of Money, Credit, and Banking. 37:977-999
This study investigates the real output losses associated with modern banking crises. We find a remarkable diversity of experience. In a number of instances banking crises have not been associated with any significant reduction in the growth of real,
Publikováno v:
Economic Theory. 24:741-767
Autor:
Bruce D. Smith, James B. Bullard
Publikováno v:
Journal of Economic Theory. 109:172-197
We study an economy in which intermediaries have incentives to issue circulating liabilities as part of an equilibrium. We show that, with arbitrarily small transactions costs, only the liabilities of intermediaries will circulate, and not those of o
Autor:
Bruce D. Smith, James B. Bullard
Publikováno v:
Journal of Monetary Economics. 50:389-417
We study dynamic economies in which agents may have incentives to hold both privately-issued (a.k.a. inside) and publicly-issued (a.k.a. outside) circulating liabilities as part of an equilibrium. Our analysis emphasizes spatial separation and limite
Publikováno v:
International Economic Review. 43:1289-1307
We consider the question how "best" to maintain price-level stability in an open economy, and evaluate three possible policy choices: (a) a constant money growth rate rule; (b) a fixed exchange rate; and (c) a policy of explicit commitment to a price
Publikováno v:
Journal of Monetary Economics. 49:1235-1260
This paper undertakes a simple general equilibrium analysis of the consequences of deposit insurance programs, the way in which they are priced, and the way in which they fund revenue shortfalls. In our economy, the central issue in analyzing deposit