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The goal of the paper was to define recommendations of a suitable business strategy for SMEs in the area of primary agricultural production. First, the external environment was analysed to define suit...
We prove—in the standard independent private-values model—that the outcome, in terms of expected probabilities of trade and expected transfers, of any Bayesian mechanism, can also be obtained with a d...
Ben Bernanke and Rick Mishkin have put together a useful data base on money growth, targets for money growth, and monetary policy decisions in six different countries during the 1970s and 1980s. The...
Although the current account deficit of the United States—and its mirror image the current account surplus of the rest of the world—had been increasing steadily through the 1990s, international econ...
I thank Michael Woodford for writing such a thoughtful and useful paper on monetary policy. It is filled with fascinating ideas and insights, each carefully explained. As befits this final “Looking ...
THE FED IS NOW OPERATING a completely unprecedented policy regime. While there is disagreement about the appropriateness of the extraordinary measures that constitute this regime, few disagree that...
Michael Woodford’s chapter is fi lled with fascinating ideas and insights, each carefully explained. Most importantly, he proposes an ambitious future research program with the specifi c practical p...
In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP ro...
Recently, we evaluated a fiscal consolidation strategy for the United States that would bring the government budget into balance by gradually reducing government spending relative to GDP to the rati...
his paper analyzes the potential market power of western states in setting coal severance taxes and the emphasis placed by these states on the development of their coal resources vs. obtaining tax...
While much of the school choice literature advocates strategyproofness, recent research has aimed to improve efficiency using mechanisms that rely on non-truthtelling equilibria. We address two issues...
This article presents an experimental setup that has been used successfully to teach concepts in the economics of auctions, and implications for e-Business procurement. The experiment is easily admini...

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