Now showing items 21-29 of 29

    • Over-optimism in Forecasts by Official Budget Agencies and its Implications 

      Frankel, Jeffrey A. (Oxford University Press, 2011)
      The paper studies forecasts of real growth rates and budget balances made by official government agencies among 33 countries. In general, the forecasts are found: (i) to have a positive average bias, (ii) to be more biased ...
    • Over-optimistic Official Forecasts and Fiscal Rules in the Eurozone 

      Frankel, Jeffrey A.; Schreger, Jesse M (Springer Verlag, 2013)
      Eurozone members are supposedly constrained by the fiscal caps of the Stability and Growth Pact. Yet ever since the birth of the euro, members have postponed painful adjustment. Wishful thinking has played an important ...
    • Politically Feasible Emission Target Formulas to Attain 460 ppm CO2 Concentrations 

      Bosetti, Valentina; Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2011)
      A new climate change treaty must plug three gaps: the absence of emission targets extending far into the future, the absence of participation by the United States, China, and other developing countries, and the absence of ...
    • Politically Feasible Emissions Targets to Attain 460 ppm CO2 Concentrations 

      Bosetti, Valentina; Frankel, Jeffrey A. (Oxford University Press, 2012)
      A new climate change treaty must address three current gaps: the absence of emissions targets extending far into the future; the absence of participation by the United States, China, and other developing countries; and the ...
    • Slow Pass-through Around the World: A New Import for Developing Countries? 

      Frankel, Jeffrey A.; Parsley, David; Wei, Shang-jin (Springer-Verlag, 2012)
      Developing countries traditionally experience pass-through of exchange rate changes that is greater and more rapid than high-income countries experience. This is true equally of the determination of prices of imported ...
    • A Solution to Overoptimistic Forecasts and Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2011)
      Historically, many countries have suffered a pattern of procyclical fiscal policy: spending too much in booms and then forced to cut back in recessions, thereby exacerbating the business cycle. This problem has especially ...
    • Sustainable Cooperation in Global Climate Policy: Specific Formulas and Emission Targets 

      Bosetti, Valentina; Frankel, Jeffrey A. (John F. Kennedy School of Government, 2012)
      We explore a framework that could be used to assign quantitative allocations of emissions of greenhouse gases (GHGs), across all countries, one budget period at a time, as envisioned at the December 2011 negotiations in ...
    • What Small Countries Can Teach the World 

      Frankel, Jeffrey A. (Palgrave Macmillan, 2012)
      In the past, various great powers have taken the stage as models of economic and social development. Examples such as Great Britain, the Soviet Union, Japan, and the United States have had their time in the spotlight that ...
    • Why the Euro Will Rival the Dollar 

      Chinn, Menzie; Frankel, Jeffrey A. (Wiley-Blackwell, 2008)
      The euro has arisen as a credible eventual competitor to the dollar as leading international currency, much as the dollar rose to challenge the pound 70 years ago. This paper uses econometrically-estimated determinants of ...