From loan pushing to credit rationing: a brief note on interest shocks in a model by Basu
Basu has argued that the 1982 debt crisis is understandable as a move to credit rationing from loan pushing precipitated by a shock in interest rates. He has demonstrated that sovereign debt theory goes beyond credit rationing theory. The way this transition to loan pushing is carried out needs to be explained to strengthen his account of the debt crisis. The theoretical conditions of the move have been set out, but there are still empirical issues to tackle.
Publication Name: Journal of Institutional & Theoretical Economics
A note from the president-elect
The peer review process for research grants of the National Science Foundation ensures the objective evaluation of scholarly proposals. The elimination of Congress of this function jeopardizes the credibility of the NSF's as a federal scientific body. NSF grants fuel the impetus for economic research at relatively little cost to the government. Thus, the importance of the peer review cannot be discounted.
Publication Name: Journal of Economic Perspectives
Presidential popularity and the economy: a note on demographic differences
The thesis that presidential popularity is dependent on the condition of the economy is proven anew. A study of the demographic differences among the US electorate, classified according to age, sex, income, race, educational level and political affiliation, reveals several interesting economic voting patterns regarding the issues of unemployment and inflation.
Publication Name: Journal of Economic Behavior & Organization
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