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Long-term effects of the Inca Road | VOX, CEPR Policy Portal

Jerónimo Carballo, Christian Volpe, Ana Cusolito
The Inca Empire was the last and greatest in a long series of highly developed cultures in pre-colonial South America. The Inca Road has played a particularly important part in the region’s history. Not only did it play a major role during the Inca Empire but it was a key component of the economy when most of South America was under Spanish rule. Unlike how they treated the Inca’s agriculture or language, the Spaniards incorporated the road system into their trade-based economy and merged it with their own institutions. It was thus a linchpin of the colonial economy in the New World (Glave 1989). ....

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A time-varying carbon tax to protect the environment while safeguarding the economy

A time-varying carbon tax to protect the environment while safeguarding the economy
ecb.europa.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ecb.europa.eu Daily Mail and Mail on Sunday newspapers.

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Do Households Expect Inflation When Commodities Surge?

Do Households Expect Inflation When Commodities Surge?
econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.

United States , San Francisco , Juan Ospina , Michael Weber , Zheng Liu , Reuven Glick , Rupal Kamdar , Sylvain Leduc , Noah Kouchekinia , Yuriy Gorodnichenko , Federal Reserve Bank , European Central Bank , University Of Michigan Surveys Consumers , Federal Reserve , Goldman Sachs Commodity Index , Economic Letter , Great Recession , Michigan Surveys , Economic Research Department , Pacific Basin Studies , Phillips Curve , Economic Literature , Grocery Prices , Inflation Expectations , Political Economy , ஒன்றுபட்டது மாநிலங்களில் ,

The Not So Wild, Wild West - LewRockwell

The Not So Wild, Wild West - LewRockwell
lewrockwell.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lewrockwell.com Daily Mail and Mail on Sunday newspapers.

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How policies affect beliefs and preferences | VOX, CEPR Policy Portal

Olivier Bargain, Ulugbek Aminjonov
Four decades ago, Robert Lucas rocked economics with a simple observation: taxes and other government interventions in the private economy affect not only the costs and benefits of actions citizens may take (as intended), but also their beliefs about the future actions of others (including the government), possibly in counterproductive ways. For example, announcing stiffer penalties for non-payment of taxes provides an incentive to pay up; but it also may convey the information that non-compliance is common, leading formerly honest citizens to cheat.
Lucas’ point was that policymaking is not simply resetting the dials on a given model of how the economy works, but instead changing the structure of the model itself (Lucas 1976). In 1994, Henry Aaron of the Brookings Institution pointed to “the failure of economists to take the formation of preferences seriously”, and suggested that the Lucas critique be extended to cover preference ....

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