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Threshold externalities in economic development

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C Azariadis… - The Quarterly Journal of Economics, 1990 - qje.oxfordjournals.org
Abstract Standard one-sector growth models often have the counterfactual implication that
economies with access to similar technologies will converge to a common balanced growth
path. We propose an elaboration of the Diamond model that permits multiple, locally ...
Cited by 1723 - Related articles - All 9 versions

Implicit contracts and underemployment equilibria

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C Azariadis - The Journal of Political Economy, 1975 - JSTOR
This paper studies an industry with demand uncertainty which prompts risk-neutral firms to
act both as employers and as insurers of homogeneous, risk-averse laborers. The resulting
contractual arrangements turn out, in their simplest form, to be more likely to specify full ...
Cited by 1406 - Related articles - Get it from MIT Libraries - Library Search - All 14 versions

[PDF] Self-fulfilling prophecies

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C Azariadis - Journal of Economic Theory, 1981 - karlshell.com
After a quarter century of unbroken development in the theory of allocation under
uncertainty, it has become an obvious fact that randomness in endowments, preferences or
technology will generally work its way to the prices and allocations which prevail in ...
Cited by 655 - Related articles - View as HTML - Get it from MIT Libraries - Library Search - All 7 versions

Sunspots and cycles

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C Azariadis… - The Review of Economic …, 1986 - restud.oxfordjournals.org
Abstract Because sunspot equilibria seem to be of central importance for an understanding
of rational expectations, we seek here to characterize completely a limited class of sunspot
equilibria (stationary ones with two possible natural events) in the simplest overlapping ...
Cited by 289 - Related articles - All 6 versions

Poverty traps

[PDF] from unimelb.edu.au
C Azariadis… - Handbook of economic growth, 2005 - Elsevier
Abstract This survey reviews models of self-reinforcing mechanisms that cause poverty to
persist. Some of them examine market failure in environments where the neoclassical
assumptions on markets and technology break down. Other mechanisms include ...
Cited by 260 - Related articles - All 30 versions

The economics of poverty traps part one: complete markets

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C Azariadis - Journal of Economic Growth, 1996 - Springer
This paper lists theoretical reasons why neoclassical models of one-sector growth imply that
nations with identical economic structures need not converge to the same steady state or
balanced growth path, and outlines the empirical significance and policy implications of ...
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Implicit contracts and fixed price equilibria

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C Azariadis… - The Quarterly Journal of Economics, 1983 - JSTOR
This introductory essay offers a brief guided tour of the main developments in the theory of
implicit contracts, from its inception to the present. It is not intended as a survey but, rather,
as an appraisal of the progress that has been made, the difficulties that remain, and as an ...
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Financial intermediation and regime switching in business cycles

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C Azariadis… - American Economic Review, 1998 - JSTOR
We study a one-sector growth model where capital investment is credit financed, and there
is an adverse selection problem in credit markets. The presence of adverse selection
creates an indeterminacy of equilibrium. Many equilibria display permanent fluctuations ...
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Private information, money, and growth: Indeterminacy, fluctuations, and the Mundell-Tobin effect

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C Azariadis… - Journal of Economic Growth, 1996 - Springer
We introduce an informational asymmetry into an otherwise standard monetary growth
model and examine its implications for the determinacy of equilibrium, for endogenous
economic volatility, and for the relationship between steady-state output and the rate of ...
Cited by 124 - Related articles - All 7 versions

Employment with asymmetric information

C Azariadis - The Quarterly Journal of Economics, 1983 - JSTOR
In an economy without informational and other distortions, entrepreneurs and workers can
write labor contracts that support a Pareto optimal allocation of resources. This paper is an
attempt to characterize contracts when entrepreneurs are better informed about the state ...
Cited by 109 - Related articles - Get it from MIT Libraries - Library Search - All 5 versions

[CITATION] Escalator clauses and the allocation of cyclical risks

C Azariadis - Journal of Economic Theory, 1978 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. Information about this may be contained in the File-Format links below. In case of
further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
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[CITATION] Implicit contracts and related topics: a survey

C Azariadis… - 1979 - University of Pennsylvania, Center …
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The Theory of Poverty Traps

C Azariadis - Poverty traps, 2006 - books.google.com
This chapter starts from the premise that the theory of economic growth should explain the
fundamental facts of world economic development in a unified way and with a minimum of
institutional detail. One undeniably key fact in our development experience since 1960 is ...
Cited by 88 - Related articles - All 2 versions

[CITATION] Intertemporal macroeconomics

C Azariadis - Cambridge, Massachusetts, 1993 - ecsocman.hse.ru
Intertemporal Macroeconomics is the first text to offer a unified and systematic exposition of
the key issues, both traditional and new, in dynamic macroeconomics. Based on
neoclassical growth theory, the book is designed for graduate and advanced ...
Cited by 673 - Related articles - Cached - Library Search - All 2 versions

On the incidence of unemployment

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C Azariadis - The Review of Economic Studies, 1976 - JSTOR
1. INTRODUCTION An enduring characteristic of historical labour statistics is that the incidence
of unemploy- ment is consistently and substantially lower among skilled craftsmen than among
simple labourers.1 Theories of this occupational differential in unemployment rates have ...
Cited by 67 - Related articles - All 6 versions

Adverse selection in the overlapping generations model: the case of pure exchange

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A Costas… - Journal of Economic Theory, 1993 - Elsevier
Abstract We examine the general equilibrium consequences of credit rationing that results
from an adverse selection problem. Relative to a full information benchmark economy, static
incentive problems result in reductions in the rate-of-return at inside money equilibria, and ...
Cited by 65 - Related articles - Library Search - BL Direct - All 6 versions

Fiscal constitutions

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C Azariadis… - Journal of Economic Theory, 2002 - Elsevier
We study the impact of fiscal constitutions on intergenerational transfers in an overlapping
generation model with linear technology. Transfers represent outcomes of a voting game
among selfish agents. Policies are decided one period at a time. Majoritarian systems, ...
Cited by 58 - Related articles - BL Direct - All 14 versions

A reexamination of natural rate theory

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C Azariadis - The American Economic Review, 1981 - JSTOR
The past fifteen years have witnessed a resurgence of neoclassical macroeconomics. The
key development is the emergence of several related propositions which seek to explain
stylized facts of cyclical economic behavior in a manner consistent with modern general ...
Cited by 55 - Related articles - Library Search - All 6 versions

[CITATION] Implicit contracts

C Azariadis - The New Palgrave: Allocation, Information and Markets, 1987
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Endogenous debt constraints in lifecycle economies

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C Azariadis… - Review of Economic Studies, 2003 - Wiley Online Library
We characterize competitive equilibria with perfect foresight in a deterministic, three-period
pure-exchange overlapping generations economy with perfect information and no
commitment to loan contracts. Commitment is replaced by an enforcement mechanism ...
Cited by 28 - Related articles - BL Direct - All 24 versions

Agency costs in dynamic economic models

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C Azariadis… - The Economic Journal, 1999 - Wiley Online Library
We consider an overlapping generations economy where capital is produced from bank
loans under stochastic constant returns to scale, and subject to idiosyncratic shocks whose
realisations are costly to verify. Our formulation differs from earlier work in permitting ...
Cited by 26 - Related articles - BL Direct - All 7 versions

Private and public circulating liabilities

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C Azariadis, J Bullard… - Journal of Economic Theory, 2001 - Elsevier
Legal and technological changes have made private banknote issue, or its electronic
equivalent, possible. We construct a model where private liabilities circulate, either by
themselves or alongside outside money. We provide results on existence and multiplicity ...
Cited by 25 - Related articles - Library Search - BL Direct - All 18 versions

Trend-reverting fluctuations in the life-cycle model

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C Azariadis, J Bullard… - Journal of economic Theory, 2004 - Elsevier
Aggregate time series provide evidence of short-term dynamic adjustment that appears to be
governed by complex or negative real eigenvalues. This finding is at odds with the
predictions of reasonably parameterized, convex one-sector growth models with complete ...
Cited by 24 - Related articles - Library Search - All 23 versions

Nominal wage-price rigidity as a rational expectations equilibrium

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C Azariadis… - The American Economic Review, 1985 - JSTOR
Most recent studies of macroeconomic behavior fall into one of two categories. The first,
often called the equilibrium business cycle approach, stems from the fundamental
contribution of Robert E. Lucas (1972), and related work by Thomas Sargent and Neil ...
Cited by 20 - Related articles - All 9 versions

Predetermined prices and the allocation of social risks

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C Azariadis… - The Quarterly Journal of Economics, 1985 - qje.oxfordjournals.org
Abstract We propose a Walrasian explanation for the existence of fixed prices, ie, of trades in
which either the price or the quantity exchanged does not reflect all publicly available
information. Such trades result in a rigid price system that facilitates the sharing of social ...
Cited by 17 - Related articles - Library Search - All 14 versions

[PDF] A forward projection of the cross-country income distribution

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C Azariadis… - Institute of Economic Research, Kyoto …, 2003 - artsci.wustl.edu
Abstract This paper proposes and implements a method to predict the evolution of the
crosscountry income distribution using a stochastic parameterization of the Azariadis–
Drazen (1990) nonconvex growth model. We estimate the dynamic structure of that model ...
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Increasing returns and crowding out

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C Azariadis… - Journal of Economic Dynamics and Control, 1996 - Elsevier
This paper explores how public debt interferes with the accumulation of physical capital
when the technology displays a production externality of the Arrow-Romer type. We identify
conditions under which a small positive amount of debt will prevent the economy from ...
Cited by 17 - Related articles - All 6 versions

Unemployment dynamics with international capital mobility

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C Azariadis… - European Economic Review, 2007 - Elsevier
We study the response of domestic unemployment rates to shocks in total factor productivity
for economies with high capital mobility and low labour mobility. We show that high capital
mobility amplifies the impact on the domestic unemployment rate of domestic fluctuations ...
Cited by 17 - Related articles - All 9 versions

Do Rich Countries Choose Better Governments?

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C Azariadis… - Contributions in Macroeconomics, 2002 - degruyter.com
We analyze public investment in social infrastructure using a two-period model in which a
government must intermediate all infrastructure investment. Voters choose a government
from two alternative types, high quality and low quality. A high quality government obtains ...
Cited by 13 - Related articles - All 17 versions

Asset price fluctuations without aggregate shocks

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C Azariadis… - Journal of Economic Theory, 2007 - Elsevier
We analyze the pricing of a productive asset in a class of dynamic exchange economies with
heterogeneous, infinitely-lived agents, and self-enforcing intertemporal trades. Individual
incomes fluctuate and are correlated; preferences, dividends and aggregate income are ...
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[CITATION] Demographic Transition in a dual Economy

C Azariadis… - Unpublished Paper, 1990
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Human capital and self-enforcing contracts

C Azariadis - The Scandinavian Journal of Economics, 1988 - JSTOR
This essay analyzes labor contracts as a device for rearranging factor incomes over time
under conditions of extreme adverse selection; in particular the lack of verifiable public
information about future compensation prevents finitely-lived workers from borrowing ...
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Constitutional “Rules” and Intergenerational Fiscal Policy

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C Azariadis… - Constitutional Political Economy, 1998 - Springer
This paper analyzes the impact of alternative political institutions on sustainable fiscal
policies. We study the choice of intergenerational transfers as outcomes of an infinite social
security game among successive selfish median voters. Majoritarian systems accord the ...
Cited by 12 - Related articles - BL Direct - All 8 versions

20 The Fiscal Politics of Big Governments: Do Coalitions Matter?

L Lambertini… - … for an imperfect world: essays in …, 2003 - books.google.com
OECD countries have experienced a remarkable increase in the size of their governments
since the 1930s. Most of this increase comes from an expansion in government transfer
programs. US government outlays as a percentage of GDP went from about 10 percent in ...
Cited by 12 - Related articles - All 7 versions

[CITATION] Public and private circulating liabilities

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C Azariadis, J Bullard… - Journal of Economic Theory, 2001
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Asset price volatility in a nonconvex general equilibrium model

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C Azariadis… - Economic Theory, 1998 - Springer
Summary. Asset prices and returns are known to vary significantly more than␣ output or
aggregate consumption growth, and an order of magnitude in excess of what is justified by
innovations to fundamentals. We study excess price volatility in a lifecycle economy with ...
Cited by 10 - Related articles - BL Direct - All 7 versions

[PDF] Discretion, rules, and volatility

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C Azariadis, V Galasso… - … BANK OF SAINT …, 1996 - research.stlouisfed.org
Economic models with multiple equilib-ria, such as Diamond and Dybvig (1983), have
become increasingly useful in analyzing volatility in financial markets and in business
cycles. In many of these models, indeterminacy is a result of incomplete financial markets ...
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The optimal inflation target in an economy with limited enforcement

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G Antinolfi, C Azariadis… - 2007 - papers.ssrn.com
Abstract: We formulate the central bank's problem of selecting an optimal long-run inflation
rate as the choice of a distorting tax by a planner who wishes to maximize discounted
stationary utility for a heterogeneous population of infinitely-lived households in an ...
Cited by 10 - Related articles - All 51 versions

Growth or equality? Losers and gainers from financial reform

C Azariadis… - Discussion Papers (IRES-Institut de …, 2002 - ideas.repec.org
We explore the consequences of liberalized credit markets for growth and inequality in a
lifecycle economy with physical and human capital accumulation, populated by households
of different abilities, and calibrated to match the long-run economic performance of a ...
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[PDF] Monetary policy as equilibrium selection

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G Antinolfi, C Azariadis… - … RESERVE BANK OF …, 2007 - research.stlouisfed.org
This paper considers indeterminacy and monetary policy from a dynamic general
equilibrium perspective in order to study the robustness of activist monetary policy advice,
like that coming from the large literature on Taylor-type rules. 1 We find these results to be ...
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[CITATION] Adverse selection in a neoclassical growth model

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C Azariadis… - The North American Journal of …, 1999 - econpapers.repec.org
By Costas Azariadis and Bruce D. Smith; Adverse selection in a neoclassical growth model.
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[CITATION] The optimal inflation target in an economy with limited enforcement, Federal Reserve Bank of St

G Antinolfi, C Azariadis… - 2007 - Louis Working Paper 2007# 037B
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Financial Institutional Reform, Growth, and Equality

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C Azariadis… - Institutions, development, and …, 2006 - books.google.com
Trends toward less public regulation of financial markets for household debt are emerging in
different parts of the world. Liberalization of financial markets in OECD countries since the
1980s is well documented. Examples of this are higher loan-to-value ratios, increased ...
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Is dynamic general equilibrium a theory of everything?

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C Azariadis… - Economic Theory, 2007 - Springer
Abstract Should we interpret the contributions of Edward C. Prescott and his collaborators,
especially Finn Kydland and Rajnish Mehra, to dynamic general equilibrium as just a
mathematical restatement of pre-Keynesian business cycle theory in the language of ...
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Intertemporal macroeconomics

A Costas - Massachusetts: Blackwell, 1995 - en.scientificcommons.org
Abstract Intertemporal Macroeconomics is the first text to offer a unified and systematic
exposition of the key issues, both traditional and new, in dynamic macroeconomics. Based
on neoclassical growth theory, the book is designed for graduate and advanced ...
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Why are the wages of job stayers procyclical?

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D Shin, K Shin, JG Altonji… - Macroeconomic …, 2008 - Cambridge Univ Press
This paper explains how real wages are procyclical for those who stay with the same
employer. On the basis of the Panel Study of Income Dynamics data for the period from 1974–
1975 to 1990–1991, we find that the substantial wage procyclicality among job stayers is ...
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[PDF] Endogenous fertility in models of growth

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C Azariadis… - Revista de análisis economico, 1993 - econweb.umd.edu
Abstract: M osi theories of economic growth ignore determinants of growth in population.
The common assumption of constant population growth is strikingly inconsistent with the
data, which reveals a logistic pattern of population growth, the acceleration often ...
Cited by 6 - Related articles - All 8 versions

[PDF] Endogenous financial development, growth and volatility

[PDF] from psu.edu
C Azariadis… - Univ. of Konstanz Working Paper, 2004 - Citeseer
Abstract The paper develops a model in which both long–run growth rates and credit market
development are endogenous. Agents facing idiosyncratic productivity shocks cannot
perfectly commit to repay their loans, but the threat of credit market exclusion specifies ...
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[CITATION] Stochastic Disequilibrium in a Labor Contracts Economy

C Azariadis - Equilibrium and rium in Economic Theory, Holland: D. …, 1978
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[CITATION] RJ Gordon on unemployment theory

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C Azariadis - Journal of Monetary Economics, 1977 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. Information about this may be contained in the File-Format links below. In case of
further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
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[CITATION] Discretionary Policy and Economic Volatility

C Azariadis… - Manuscript. Los Angeles: Univ. California, 1995
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[PDF] Adverse selection in a neoclassical growth model.'

[PDF] from minneapolisfed.org
C Azariadis… - Manucript, Cornell University, 1991 - minneapolisfed.org
Partial intermediation appears when individual characteristics are privately known. We study
the implications for growth of Rothschild-Stiglitz separating equilibria induced by credit
rationing. These equilibria require consumers and producers to bear part of their ...
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[CITATION] Financial Intermediation and Regime Switching in

C Azariadis… - 1998
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[CITATION] Poverty Traps

A Costas… - Handbook of Economic Growth, 2004
Cited by 4 - Related articles

[CITATION] Volatility in an economy with temporary default penalties

C Azariadis… - 2000 - mimeo
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[CITATION] Intertemporal Macroeconomics

Costas. Azariadis - 1997 - Blackwell Publishers
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Capital misallocation and aggregate factor productivity

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C Azariadis… - Working Paper Series, 2009 - research.stlouisfed.org
We propose a sectoral–shift theory of aggregate factor productivity for a class of economies
with AK technologies, limited loan enforcement, a constant production possibilities frontier,
and finitely many sectors producing the same good. Both the growth rate and total factor ...
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Informational Theories of Employment

Full text - MIT Libraries
B Allen… - The American Economic Review, 1988 - JSTOR
We report in this paper some elementary consequences of defining commodities not only by
their physical properties, date of delivery, and state of nature-as one normally would in
competitive equilibrium theory-but also by an informational attribute called" observability." ...
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[CITATION] Intertemporal Economics

C Azariadis - 1993 - Blackwell Publishers, Cambridge, …
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[PDF] Growth or equality?

[PDF] from ucl.ac.be
C Azariadis… - Department of Economics, UCLA, 2002 - edoc.bib.ucl.ac.be
Abstract We explore the consequences of liberalized credit markets for growth and
inequality in a lifecycle economy with physical and human capital accumulation, populated
by households of different abilities, and calibrated to match the longrun economic ...
Cited by 3 - Related articles - View as HTML - All 8 versions

Do Rich Countries Choose Better Governments?

C Azariadis… - 1997 - papers.ssrn.com
Abstract: We analyze public investment in social infrastructure using a two-period model in
which a government must intermediate all infrastructure investment. Voters choose a
government from two alternative types, high quality and low quality. A high quality ...
Cited by 3 - Related articles

Excess Asset Returns with Limited Enforcement

Full text - MIT Libraries
C Azariadis… - The American Economic Review, 2002 - JSTOR
This paper examines the pricing of contingent claims on future consumption when claims
sellers can walk away from their promises at the cost of asset seizure and exclusion from all
subsequent trading. Credible promises to deliver goods in this setting are limited by ...
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[CITATION] Intertermporal Macroeconomics Basil Blackwell

C Azariadis - 1993 - Cambridge
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Reply to Kolmar's Comment

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C Azariadis… - Constitutional Political Economy, 2000 - Springer
Professor Kolmar asks whether this desirable property of supermajority rules should be
credited to the increased commitment these rules bring to fiscal policy or to their role in
affecting current expectations of future behavior. Noting that constitutions which do not ...
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Fiscal constitutions and the determinacy of intergenerational transfers

[PDF] from uc3m.es
C Azariadis… - 1997 - e-archivo.uc3m.es
We study the impact offiscal constitutions on intergenerational transfers by analyzing how
political veto power influences social security. Transfers in this paper are outcomes of an
infinite-horizon social security game among selfish agents whose lifecycles we embed in ...
Cited by 9 - Related articles - All 7 versions

[CITATION] Intertemporal macroeconomics

C Azariadis - Unpublished Lecture Notes, 1988
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[CITATION] The problem of multiple equilibrium

C Azariadis - 1993 - Asociación Sudeuropea de …
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[CITATION] Naive Contracts and Information Lags in the Monetary Mechanism,"

CC Azariadis - Unpublished manuscript, University of Pennsylvania, 1978
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[CITATION] Implicit Contracts and Fixed Price Equilibria, 98Q

C Azariadis… - J. Econ
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[CITATION] National debt and growth with increasing returns

C Azariadis… - 1992 - mimeo, University of Pennsylvania, …
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[PDF] Unemployment dynamics with international capital mobility

[PDF] from lse.ac.uk
C Azariadis… - 2000 - econ.lse.ac.uk
Abstract We study the response of domestic unemployment rates to random impulses in total
factor productivity for economies with relatively high capital mobility and relatively low labor
mobility. We show that rapid capital movements across national borders, like those ...
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[CITATION] Rational expectations equilibria with Keynesian properties

C Azariadis - Finnish Economic Papers, 1989 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
Rational expectations equilibria with Keynesian properties. Costas Azariadis (). Finnish
Economic Papers, 1989, vol. 2, issue 2, pages 99-105. ...
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[PDF] Endogenous Credit Limits with Small Default Costs

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C Azariadis… - Mimeograph, July, 2008 - acrobatplanet.com
Abstract We analyze an exchange economy of unsecured credit where borrowers have the
costless option to declare bankruptcy and forgo asset trading for a given finite number of
periods before they resume activity in asset markets. Endogenous credit limits are ...
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[CITATION] «Financial Markets and Economic Growth"

C AZARIADIS - University of Pennsylvania. Manuscrito, 1991
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[CITATION] The Fiscal Politics of Big Governments: Do Coalitions Matter?" forthcoming in Economics for an Imperfect World: Essays in Honor of Joseph Stiglitz, eds. …

C Azariadis… - 2003 - MIT Press
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[CITATION] Private Information

A Costas… - Money and Growth: Intermediary, Fluctuations and the …, 1993
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[PDF] A Two-sector Model of Endogenous Growth with Leisure Externalities

[PDF] from smu.edu.sg
C Azariadis, BL Chen, CH Lu… - 2009 - economics.smu.edu.sg
Abstract This paper considers leisure externalities in a Lucas (1988) type model in which
physical and human capital are necessary inputs in both sectors. In spite of a non-concave
utility, the balanced growth path is always unique in our model which guarantees global ...
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[PDF] Credit market development, growth and volatility

[PDF] from uzh.ch
C Azariadis… - 2006 - nccr-finrisk.uzh.ch
Abstract We consider a model in which growth and credit market development are
endogenous. Agents facing idiosyncratic productivity shocks cannot commit to repay their
loans, but the threat of exclusion from credit specifies endogenous borrowing limits ...
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[CITATION] mSelf Fufilling Profecies

C Azariadis - n Journal of Economic Theory, 1981
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[CITATION] Asymmetric wage behavior

C Azariadis, Brown University… - 1975 - Brown University
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[CITATION] The Theory of Poverty Traps: What Have we Learned?,‖ in Samuel Bowles, Steven Durlauf and Karla Hoff (eds) Poverty Traps

C Azariadis - 2006 - Princeton: Princeton University …
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Credit and growth under limited commitment

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C Azariadis… - Macroeconomic Dynamics, 2008 - Cambridge Univ Press
We consider a linear growth model with idiosyncratic productivity shocks in which producers
cannot commit to repay their loans. Borrowing constraints are determined endogenously by
the borrowers' incentives to repay, assuming that defaulters lose a share of output and are ...
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Endogenous financial development and multiple growth regimes

C Azariadis… - Economic Working Papers at Centro de …, 2004 - ideas.repec.org
The paper analyzes a linear growth model with idiosyncratic productivity shocks and self-
enforcing loan contracts. Agents cannot commit to repay their loans because of insuficient
collateral, but the threat of credit market exclusion prevents agents from default. Credit ...
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[PDF] Efficient Inflation Targets for Distorted Dynamic Economies

[PDF] from clevelandfed.org
C Azariadis… - 2003 - clevelandfed.org
Abstract What are good inflation targets and by what instrument rules can they be reached?
We examine the selection of targets and instruments, in competitive exchange economies
with lifecycle consumers facing uninsurable idiosyncratic income risks, by a benevolent ...
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[CITATION] Regime switching in business cycles

C Azariadis… - 1994 - Universidad Carlos III de Madrid
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A Partial Utility Approach to the Theory of the Firm

C Azariadis, KJ Cohen… - Southern Economic Journal, 1972 - JSTOR
Part I introduces and explains the necessary framework. This is used in Parts II and III
formally to derive the optimal output and production decisions and the circumstances under
which they exist. Results are compared with earlier research and, in Part IV, are used to ...
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[CITATION] Weitzman's The Share Economy: Conquering Stagflation

Full text - MIT Libraries
C Azariadis - The RAND Journal of Economics, 1985 - JSTOR
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Excess Asset Returns with Limited Enforcement

L Lambertini… - 2009 - papers.ssrn.com
Abstract: This paper investigates the effect of limited enforcement of contracts on asset
returns in a three-period pure-exchange overlapping generations economy. We consider a
life-cycle setting with a safe and a risky asset and find that lack of commitment can ...
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6. Beliefs and the Neutrality of Money

C Azariadis - Essays in economic theory, growth, and labour …, 2002 - books.google.com
This essay explores the direct link of Robert Lucas classic'Expectations and the Neutrality of
Money'to the subsequent literature on endogenous fluctuations. I reconsider how the
neutrality of money is influenced by shared beliefs of the sort that US business people and ...

Cited Author Index

JG Altonji, PM Anderson, C Azariadis… - Working time in …, 2001 - books.google.com
Cited Author Index The italic letters f, n, and t following a page number indicate that the cited
name is within a figure, note, or table, respectively, on that page. Abraham, Katharine G.,
296t, 300, 315, 317, 320, 322, 341n5, 342 Altonji, Joseph G., 206, 227, 239, 239n14, 240, ...

Royal Economic Society

C Azariadis… - The Economic Journal, 1999 - res.org.uk
We consider an overlapping generations economy where capital is produced from bank
loans under stochastic constant returns to scale, and subject to idiosyncratic shocks whose
realisations are costly to verify. Our formulation differs from earlier work in permitting ...
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[PDF] Heterogeneity, Market Segmentation and Asset Price Fluctuations

[PDF] from econometricsociety.org
C Azariadis… - econometricsociety.org
Abstract We analyze the pricing of a simple productive asset in a class of dynamic exchange
economies with heterogeneous infinitely–lived agents, and no commitment to intertemporal
trades other than the exclusion of defaulters from asset markets for a fixed length of time. ...
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[CITATION] Date of Birth: August 29, 1955 Place of Birth: Miami Beach, Florida EDUCATION

C Azariadis - 1976 - Department of Economics, University …

[PDF] Leisure Externalities in A Two-sector Endogenous Growth Model

[PDF] from nthu.edu.tw
C Azariadis, BL Chen, CH Lu… - 2009 - wwwold.econ.nthu.edu.tw
Abstract This paper considers leisure externalities in a Lucas (1988) type model in which
physical and human capital are necessary inputs in both sectors. In spite of a non-concave
utility, the balanced growth path is always unique in our model which guarantees global ...
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[CITATION] B. Labor Market

C Azariadis - … economic systems: proceedings of the 3 …, 1979 - Vandenhoeck und Ruprecht
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Efficient Fiscal Policy Restrictions in a Monetary Union

C Azariadis… - … dynamics: essays in memory of Koji …, 2008 - books.google.com
Abstract We study the interactions of monetary and fiscal policies in the context of a
monetary union. Tensions over fiscal policies have become one of the key issues in the
operation in the European Union. We analyze restrictions on public debt in a monetary ...
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[BOOK] Endogenous Financial Development and Multiple Growth Regimes

[PDF] from socialpolitik.de
L Kaas, C Azariadis… - 2004 - socialpolitik.de
Abstract The paper analyzes a linear growth model with idiosyncratic productivity shocks
and self–enforcing loan contracts. Agents cannot commit to repay their loans because of
insufficient collateral, but the threat of credit market exclusion prevents agents from default ...
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[CITATION] Brown, RL. 59 Brunner, Karl, 224 Bruno, Michael, 174 Bryan, Michael E, 196

R Bryant, C Azariadis, RT Baillie… - Monetary …, 1997 - University Of Chicago Press
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Endogenous Fertility in Models of Growth Endogenous Fertility in Models of Growth

C Azariadis… - Revista de Análisis Económico - doaj.org
Abstract: Endogenous Fertility in Models of Growth Most theories of economic growth ignore
determinants of growth in population. The common assumption of constant population
growth is strikingly inconsistent with the data, which reveal a logistic pattern of population ...
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[CITATION] Brown. RL. 59 Brunner. Karl. 224 Bruno. Michael, 174 Bryan. Michael E, 196 Bryant. Ralph. 64. 65

C Azariadis, A Banerjee, RJ Barro… - Monetary …, 1997 - University Of Chicago Press
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