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Working Paper
Policy and welfare effects of within-period commitment
Martin, Fernando M. (2011)
I study the implications of different institutional frameworks for the conduct of fiscal policy, under the assumption that the government cannot commit to future policy choices. The environments analyzed vary on whether the government is endowed with the ability to commit to beginning-of-period policy announcements or not. If it cannot, then there are two variants, depending on which actions private agents take before observing the government?s policy choice. How the three possible cases rank in terms of tax rates and welfare varies substantially with the economy?s fundamentals and whether ...
Working Papers , Paper 2011-031

Journal Article
Is unemployment too low? How welfare reform and technology are creating a new employment standard
Saving, Jason L. (1998-11)
Southwest Economy , Issue Nov , Pages 5-8

Working Paper
Firms as clubs in Walrasian markets with private information : technical appendix
Townsend, Robert M.; Prescott, Edward Simpson (2005)
This paper proves the Welfare Theorems and the existence of a competitive equilibrium for the club economies with private information in Prescott and Townsend (2005). The proofs cover lottery economies with a finite number of goods and without free disposal. A mapping based on Negishi (1960) is used.
Working Paper , Paper 05-11

Working Paper
Is GDP Becoming Obsolete? The 'Beyond GDP' Debate
Nakamura, Leonard I.; Charles, Hulton (2022-11-08)
GDP is a closely watched indicator of the current health of the economy and an important tool of economic policy. It has been called one of the great inventions of the 20th century. It is not, however, a persuasive indicator of individual well-being or economic progress. There have been calls to refocus or replace GDP with a metric that better reflects the welfare dimension. In response, the U.S. agency responsible for the GDP accounts recently launched the GDP and Beyond program. This is by no means an easy undertaking, given the subjective and idiosyncratic nature of much of individual ...
Working Papers , Paper 21-37

Working Paper
Terrorism, Trade and Welfare: Some Paradoxes and a Policy Conundrum
Sandler, Todd; Bandyopadhyay, Subhayu; Younas, Javed (2016-03-01)
We present a standard trade model and show that terrorism can be trade inducing, starting from autarky. In addition, terrorism can be shown to be welfare augmenting for a group of nations. Finally, we present some qualitative conditions that identify when a nation?s trade volume may rise (or fall) in response to a greater incidence of terrorism. Our trade and welfare results point to potential difficulties in international coordination of counterterrorism policy because of terrorism?s differential impact across nations.
Working Papers , Paper 2016-2

Report
The impact of welfare work registration rules on labor market data
Bryant, John (1977)
Staff Report , Paper 32

Journal Article
Welfare reform revisited
Saving, Jason L. (2002-09)
Southwest Economy , Issue Sep , Pages 1, 5-8

Working Paper
The impact of AFDC on birth decisions and program participation
Powers, Elizabeth T. (1994)
A longitudinal study examining how the level of AFDC benefits and the per-child increment affect births. Although the findings support the "AFDC benefits cause births" hypothesis, the author shows that eliminating the new-birth increment would reduce total program costs by less than 3 percent, since both the per-dollar effect of benefits on births and the per-child increments themselves are small.
Working Papers (Old Series) , Paper 9408

Working Paper
Sharing Asymmetric Tail Risk: Smoothing, Asset Prices and Terms of Trade
Corsetti, Giancarlo; Lipinska, Anna; Lombardo, Giovanni (2021-08-06)
Crises and tail events have asymmetric effects across borders, raising the value of arrangements improving insurance of macroeconomic risk. Using a two-country DSGE model, we provide an analytical and quantitative analysis of the channels through which countries gain from sharing (tail) risk. Riskier countries gain in smoother consumption but lose in relative wealth and average consumption. Safer countries benefit from higher wealth and better average terms of trade. Calibrated using the empirical distribution of moments of GDP-growth across countries, the model suggests non-negligible ...
International Finance Discussion Papers , Paper 1324

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