Robert Skidelsky, (2016), “Basic Income Revisited”, Project Syndicate, 23 Ιουνίου Britain isn’t the only country holding a referendum this month. On June 5, Swiss voters overwhelmingly rejected, by 77% to 23%, the proposition that every citizen should be guaranteed an unconditional basic income (UBI). But that lopsided outcome doesn’t mean the issue is going away anytime soon. Σχετικές Αναρτήσεις Guio, Anne-Catherine, Marlier, Eric, Gordon, David, Fahmy, Eldin, Nandy, Shailen, Pomati, …Read More

McKay, Alisdair, Reis, Ricardo, (2016), “Optimal Automatic Stabilizers”, Centre for Economic Policy Research, Ιούνιος Should the generosity of unemployment benefits and the progressivity of income taxes depend on the presence of business cycles? This paper proposes a tractable model where there is a role for social insurance against uninsurable shocks to income and unemployment, as well as inefficient business cycles driven by aggregate shocks through matching frictions and nominal rigidities. We derive …Read More

Ilzkovitz, Fabienne, Dierx, Adriaan, (2016), “Competition policy and inclusive growth”, Voxeu, 19 Ιουνίου Firms with greater market power can behave monopolistically, and recent research suggests that declining market competitiveness is driving income inequality. While competition authorities already measure the overall impact of their interventions by using customer savings, these measurements do not account for indirect effects of intervention. This column introduces a DSGE model to model competition policy interventions as a negative …Read More

Eisenbach, Thomas, Lucca, David, Townsend, Robert, (2016), ” The economics of bank supervision: Theory and evidence “, Voxeu, 17 Ιουνίου 2016,  The two main elements of bank industry oversight are regulation and supervision. This column provides a framework for thinking about supervision in relation to regulation. Using US data on supervisory hours spent, it finds evidence of economies of scale for bank size. Additionally, less risky banks receive substantially lower amounts of supervisory hours. The findings …Read More