Portrait of Putin's Past

Dubois Patrick. NARJOUX (Félix). In: , . Le dictionnaire de pédagogie et d'instruction primaire de Ferdinand Buisson : répertoire biographique des auteurs. Paris : Institut national de recherche pédagogique, 2002. p. 110. (Bibliothèque de l'Histoire de l'Education, 17

Dynamic taxation, private information and money

The objective of this paper is to study optimal fiscal and monetary policy in a dynamic Mirrlees model where the frictions giving rise to money as a medium of exchange are explicitly modeled. The framework is a three period OLG model where agents are born every other period. The young and old trade in perfectly competitive centralized markets. In middle age, agents receive preference shocks and trade amongst themselves in an anonymous manner. Since preference shocks are private information, in a record-keeping economy, the planner's constrained allocation trades off efficient risk sharing against production efficiency in the search market. In the absence of record-keeping, the government uses flat money as a substitute for dynamic contracts to induce truthful revelation of preferences. Inflation affects agents' incentive constraints and so distortionary taxation of money may be needed as part of the optimal policy even if lump-sum taxes are available.Money ; Taxation

Random matching and money in the neoclassical growth model: some analytical results

I use the monetary version of the neoclassical growth model developed by Aruoba, Waller and Wright (2008) to study the properties of the model when there is exogenous growth. I first consider the planner's problem, then the equilibrium outcome in a monetary economy. I do so by first using proportional bargaining to determine the terms of trade and then consider competitive price taking. I obtain closed form solutions for the balanced growth path of all variables in all cases. I then derive closed form solutions for the transition paths under the assumption of full depreciation and, in the monetary economy, a non-stationary interest rate policy.Monetary policy ; Econometric models

Assessing the political viability of labor market reform : the case of employment protection - commentary

Labor market