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Currency Crises and Monetary Policy in an Economy with Credit Constraints

Aghion, Philippe; Bacchetta, Philippe; Banerjee, Abhijit - C.E.P.R. Discussion Papers - 2000

This paper presents a simple model of currency crises, which is driven by the interplay between the credit constraints of private domestic firms and the existence of nominal price rigidities. The possibility of multiple equilibria, including a ‘currency crisis’ equilibrium with low output...

Persistent link: https://www.econbiz.de/10005662331

Le bénéfice de la santé. Un apport des théories de la croissance endogène

Aghion, Philippe; Howitt, Peter; Murtin, Fabrice - In: Revue de l'OFCE n° 112 (2010) 1, pp. 87-108

This paper revisits the relationship between health and growth in light of modern endogenous growth theory. We propose …

Persistent link: https://www.econbiz.de/10008615377

The unequal effects of liberalization: evidence from dismantling the License Raj in India

Aghion, Philippe; Burgess, Robin; Redding, Stephen; … - London School of Economics (LSE) - 2006

This paper investigates whether the effects, on registered manufacturing out-put, employment, entry and investment, of dismantling the ‘license raj’ - a system of central controls regulating entry and production activity in this sector - vary across Indian states with different labor market...

Persistent link: https://www.econbiz.de/10010746413

The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India

Aghion, Philippe; Burgess, Robin; Redding, Stephen J.; … - C.E.P.R. Discussion Papers - 2006

This paper investigates whether the effects, on registered manufacturing output, employment, entry and investment, of dismantling the 'license raj' - a system of central controls regulating entry and production activity in this sector - vary across Indian states with different labour market...

Persistent link: https://www.econbiz.de/10005114468

The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India

Aghion, Philippe; Burgess, Robin; Redding, Stephen; … - Centre for Economic Performance, LSE - 2006

This paper investigates whether the effects, on registered manufacturing out- put, employment, entry and investment, of dismantling the .license raja system of central controls regulating entry and production activity in this sector .vary across Indian states with different labor market...

Persistent link: https://www.econbiz.de/10005670483

A Corporate Balance Sheet Approach to Currency Crises

Aghion, Philippe; Bacchetta, Philippe; Banerjee, Abhijit - C.E.P.R. Discussion Papers - 2001

This Paper presents a general equilibrium currency crisis model of the 'third generation', in which the possibility of currency crises is driven by the interplay between private firms' credit-constraints and nominal price rigidities. Despite our emphasis on microfoundations, the model remains...

Persistent link: https://www.econbiz.de/10005124430

A Corporate Balance-Sheet Approach to Currency Crises

Aghion, Philippe; Bacchetta, Philippe; Banerjee, Abhijit - Départment d'économétrie et d'économie politique … - 2001

This paper presents a general equilibrium currency crisis model of the 'third generation', in which the possibility of currency crises is driven by the interplay between private firms' credit-constraints and nominal price rigidities. Despite our emphasis on microfoundations, the model remains...

Persistent link: https://www.econbiz.de/10005518836

The Environment and Directed Technical Change

Acemoglu, Daron; Aghion, Philippe; Bursztyn, Leonardo; … - C.E.P.R. Discussion Papers - 2011

dirty innovation and production; (ii) optimal policy involves both .carbon taxes. and research subsidies, so that excessive … the switch to clean innovation under laissez-faire when the two inputs are substitutes. Under reasonable parameter values …

Persistent link: https://www.econbiz.de/10009365645

Carbon taxes, path dependency and directed technical change: evidence from the auto industry

Aghion, Philippe; Dechezlepretre, Antoine; Hemous, David; … - London School of Economics (LSE) - 2012

innovation distinguishing between “dirty” (internal combustion engine) and “clean” (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …

Persistent link: https://www.econbiz.de/10011071158

Carbon Taxes, Path Dependency and Directed Technical Change: Evidence from the Auto Industry

Aghion, Philippe; Dechezleprêtre, Antoine; Hemous, David; … - C.E.P.R. Discussion Papers - 2012

innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …

Persistent link: https://www.econbiz.de/10011084407