Intertemporal speculation, shortages and the political economy of price reform
Article Abstract:
Concentration of price controls on storable merchandises and opposition against price deregulation based on claims of low supply response are demonstrated to distort the effectivity of gradual price decontrol. The first factor is determined to be used in temporal speculation while the second factor is supported when a strong supply response fails to occur. Furthermore, interactions of shortages with a perceived failure of a government's reform program shows the vulnerability of a gradual decontrol of prices.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1992
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Signalling, wage controls and monetary disinflation policy
Article Abstract:
Signalling is a game-theoretic method by which governments with a credibility problem reveal the level of inflation in their economies. Due to the imperfect information structure between the government and private entities, there exists a unique signalling equilibrium under which a stabilization package may be implemented. Such a disinflation instrument may also apply wage controls but these require support of a tight monetary policy.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1993
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Economic policy and special interest politics
Article Abstract:
Models related to special interest politics proved to be ineffective in generating reliable results regarding policy outcomes. Through the use of such models, biased results were achieved that tend to favor American institutions. A need for mapping between institutions and policy outcomes under general political regime was determined based on the analysis of previous economic research studies.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1998
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