This book presents recent developments in the economics of asymmetric information. The
problems of selection and moral hazard, with hidden actions or hidden information, are …

This paper analyzes the effects of monetary policy and fiscal adjustment on output and
unemployment in Turkey. The model on which the analysis is based accounts for rural-urban …

The paper shows that the joint presence of moral hazard and repudiation risk generates an
important interaction effect. In order to provide the proper incentives to borrowers, the …

Als ich diese Arbeit 1994 begann, war der Haustarifvertrag der Volkswagen AG zur
Verkürzung der Wochenarbeitszeit auf 28, 8 Stunden kaum zwei Monate alt. Der Ansatz …

The IS-LM framework has been the standard model used for understanding and teaching
Keynesian macroeconomics since 1960. Indeed, even a monetarist such as Friedman could …

This paper develops a simple neo-classical model of the business cycle characterised by
multiple equilibria produced by the interaction of the investment and production processes …

A situação económica vivida desde o início do século, e em especial nos últimos dois anos
em resultado da crise do subprime, tem-se reflectido também no investimento privado …