Thomas D Willett
Datos Biográficos
| ID | 708541 |
|---|---|
| NOMBRE | Thomas D Willett |
| NOMBRES | Thomas D |
| APELLIDO | Willett |
| FIRMA | WILLETT T D |
| AFILIACIONES | Claremont McKenna College |
| ORCID | 0000-0003-4757-7598 |
| VERIFICADO | Sí |
| TOTAL DE OBRAS | 35 |
| TOTAL DE CITAS | 218 |
| TOTAL COMO AUTOR | 33 |
| TOTAL COMO EDITOR | 2 |
| PRIMER AÑO DE PUBLICACIÓN | 1967 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2019 |
| ÍNDICE H | 6 |
On Limiting the Domain of Inequality
Financialization
The size and scope of financial sectors throughout the world have grown exponentially in tandem with the rise of globalization and increased capital mobility. The terms “economic globalization” and “financialization” are often discussed as inextricably related phenomena. Although the rapid increase in the number and variety of financial services and products during the past four decades has helped spur economic growth and create wealth on an unpr…
Delaying the inevitable
When faced with speculative pressure on their currencies, policymakers often delay devaluations by spending billions of dollars in defense of a given exchange rate peg, only to succumb and devalue their currency later on. Using a political economy approach we argue that the interaction of distributional concerns, cognitive limitations, time-consistency problems, and institutional structures can keep governments from implementing the economically …
Winners Without Losers
Journal Article Winners Without Losers: Why Americans Should Care More About Global Economic Policy by Edward J. Lincoln Get access Winners Without Losers: Why Americans Should Care More About Global Economic Policyby Edward J. Lincoln. Ithaca, NY, Cornell University Press, 2007. 267pp. $27.95. Thomas D. Willett Thomas D. Willett Claremont Graduate University Search for other works by this author on: Oxford Academic Google Scholar Political Scien…
The Interactions of Strength of Governments and Alternative Exchange Rate Regimes in Avoiding Currency Crises
This paper analyzes the stability of alternative exchange rate regimes in the face of substantial capital mobility. This issue often goes under the label of the unstable middle or the two-corners hypotheses. We argue that both the issues of why the middle is unstable and how far toward the extremes of fixed or flexible exchange rates countries need to go in order to substantially reduce the likelihood of currency crises depends crucially on polit…
Capitalism, Not Globalism
Capitalism, Not Globalism: Capital Mobility, Central Bank Independence, and the Political Control of the Economy
Capital mobility for developing countries may not be so high
More Means Less
Avinish K. Dixit. The Making of Economic Policy
Reconsidering the principal components of central bank independence
Henry George
While generally known today for his famous proposal for a Single Tax, Henry George has not been widely recognized as one of the first economists to write about the possibility of political market failure. Based on his appreciation for the allocational efficiency of markets and his suspicion of government intervention, George was an early advocate of public choice ideas who repeatedly warned of the dangers of rent seeking
Financial Interdependence and the State
As the twentieth century draws to a close, one can find sharply contrasting views among leading scholars on almost every key issue in positive international political economy. How strong are international as opposed to domestic influences on policy? How important are issues of national security (”high politics”) versus economic considerations(”low politics”)? What role do institutions—international and domestic—play in influencing and constrainin…
The anti inflationary influence of corporatist structures and central bank independence
EC 1992 from a North American Perspective
Journal Article EC 1992 from a North American Perspective Get access Sven W. Arndt, Sven W. Arndt Claremont McKenna College Search for other works by this author on: Oxford Academic Google Scholar Thomas D. Willett Thomas D. Willett Claremont Graduate School Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 101, Issue 409, 1 November 1991, Pages 1567–1579, https://doi.org/10.2307/2234905 Publish…
Combining rent-seeking and public choice theory in the analysis of tariffs versus quotas
International Monetary Cooperation, Domestic Politics, and Policy Ideas
International monetary problems moved from the back pages to the front pages long ago, and yet, despite much attention, they continue to trouble national leaders, entrepreneurs, international officials and scholars, and to affect the average citizen. World payments imbalances and currency fluctuations have substantial domestic economic effects, give rise to protectionist pressures, put unwelcome heat on politicians, and raise fears that resulting…
National Macroeconomic Policy Preferences and International Coordination Issues
This paper stresses the importance of taking domestic economic structures and political pressures into account when considering issues of international macroeconomic policy coordination. The existence of domestic biases can cause policy coordination to increase rather than reduce macroeconomic instability. The paper offers a survey of the literature on national macroeconomic policy preferences and inflation unemployment tradeoffs. While this rese…
International Monetary Fund, 1972-1978
International money and the capitalist crisis
Slogans or substance
The United States and World Stagflation
This article argues that while macroeconomic and monetary interdependence is certainly important, the previous tendency to overlook the significance of such factors for the U.S. economy has given way to frequent tendencies to exaggerate greatly their quantitative importance. The available systematic empirical studies suggest that the United States has neither exported as much inflation and unemployment to other countries as is frequently alleged …
Power, Politics, and Prosperity
The widely different perspectives from which various writers approach issues of international economic interdependence can make this an extremely confusing area for the nonspecialist. In hopes of reducing this problem we attempt to briefly characterize and offer comments on the strengths and weaknesses of a number of the major schools of thought about the roles of power, politics, and economic prosperity in the political economy of international …
An economic theory of mutually advantageous issue linkages in international negotiations
There has been considerable interest in recent years in the question of issue linkages in international negotiations. What is significant about discussions of linkages in the present era is the stress put on making trade-offs explicit among issues. Most of the highly publicized cases of proposed issue linkages appear to have been motivated by attempts of individual countries or groups of countries to extend their dominant bargaining or veto power…
Conflict and cooperation in Opec
In a recent article in this journal Paul Jabber presents a cogent analysis of many of the potential conflicts that may face OPEC over the coming years and concludes that a collapse of the cartel is extremely unlikely, even under conditions of severe political dispute among OPEC members. I share Jabber's view that a collapse of the cartel is not probable in the medium-term future. I believe, however, that Jabber has not sufficiently recognized the…
Economists and Public Policy
An economic theory of mutually advantageous issue linkages in international negotiations
There has been considerable interest in recent years in the question of issue linkages in international negotiations. What is significant about discussions of linkages in the present era is the stress put on making trade-offs explicit among issues. Most of the highly publicized cases of proposed issue linkages appear to have been motivated by attempts of individual countries or groups of countries to extend their dominant bargaining or veto power…
Some simple economics of voting and not voting
Representative democracy via random selection
International Integration and the Interdependence of Economic Variables
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content
Financial Interdependence and the State
As the twentieth century draws to a close, one can find sharply contrasting views among leading scholars on almost every key issue in positive international political economy. How strong are international as opposed to domestic influences on policy? How important are issues of national security (”high politics”) versus economic considerations(”low politics”)? What role do institutions—international and domestic—play in influencing and constrainin…
Capitalism, Not Globalism
Capitalism, Not Globalism: Capital Mobility, Central Bank Independence, and the Political Control of the Economy
The anti inflationary influence of corporatist structures and central bank independence
Delaying the inevitable
When faced with speculative pressure on their currencies, policymakers often delay devaluations by spending billions of dollars in defense of a given exchange rate peg, only to succumb and devalue their currency later on. Using a political economy approach we argue that the interaction of distributional concerns, cognitive limitations, time-consistency problems, and institutional structures can keep governments from implementing the economically …
The Interactions of Strength of Governments and Alternative Exchange Rate Regimes in Avoiding Currency Crises
This paper analyzes the stability of alternative exchange rate regimes in the face of substantial capital mobility. This issue often goes under the label of the unstable middle or the two-corners hypotheses. We argue that both the issues of why the middle is unstable and how far toward the extremes of fixed or flexible exchange rates countries need to go in order to substantially reduce the likelihood of currency crises depends crucially on polit…
Reconsidering the principal components of central bank independence
Combining rent-seeking and public choice theory in the analysis of tariffs versus quotas
Conflict and cooperation in Opec
In a recent article in this journal Paul Jabber presents a cogent analysis of many of the potential conflicts that may face OPEC over the coming years and concludes that a collapse of the cartel is extremely unlikely, even under conditions of severe political dispute among OPEC members. I share Jabber's view that a collapse of the cartel is not probable in the medium-term future. I believe, however, that Jabber has not sufficiently recognized the…
Potential Entrants Discourage Entry
Capital mobility for developing countries may not be so high
National Macroeconomic Policy Preferences and International Coordination Issues
This paper stresses the importance of taking domestic economic structures and political pressures into account when considering issues of international macroeconomic policy coordination. The existence of domestic biases can cause policy coordination to increase rather than reduce macroeconomic instability. The paper offers a survey of the literature on national macroeconomic policy preferences and inflation unemployment tradeoffs. While this rese…
International money and the capitalist crisis
A Note on the Relation between the Rate and Variability of Inflation
In recent years there has been considerable interest in the concept of the optimum rate of ancitipated inflation-that rate which taxes the holding of cash balances such that the marginal excess burden from the inflation tax equals the marginal cost of the most efficient alternative method of raising government revenue. (For recent discussion, and references to the earlier literature by Bailey, Freidman and others, see Tower (1971), Tower and Will…
Henry George
While generally known today for his famous proposal for a Single Tax, Henry George has not been widely recognized as one of the first economists to write about the possibility of political market failure. Based on his appreciation for the allocational efficiency of markets and his suspicion of government intervention, George was an early advocate of public choice ideas who repeatedly warned of the dangers of rent seeking
Power, Politics, and Prosperity
The widely different perspectives from which various writers approach issues of international economic interdependence can make this an extremely confusing area for the nonspecialist. In hopes of reducing this problem we attempt to briefly characterize and offer comments on the strengths and weaknesses of a number of the major schools of thought about the roles of power, politics, and economic prosperity in the political economy of international …
On Equalizing the Distribution of Political Income
International Specie Flows and American Monetary Stability, 1834–1860
The importance of the international sector in initiating the nineteenth-century economic development of the United States has been widely acknowledged. Its influence on American economic stability, however, is by no means as well established. Controversy persists concerning the interrelationships between the international flow of liquid funds evidencing balance-of-payments disequilibrium and the American monetary system during the period from the…
Potential Entrants Discourage Entry
International Specie Flows and American Monetary Stability, 1834–1860
The importance of the international sector in initiating the nineteenth-century economic development of the United States has been widely acknowledged. Its influence on American economic stability, however, is by no means as well established. Controversy persists concerning the interrelationships between the international flow of liquid funds evidencing balance-of-payments disequilibrium and the American monetary system during the period from the…
Adequacy of International Means of Payments
It has been argued recently that the size of the holdings of foreign exchange by commercial banks provides a better measure of the adequacy of international means of payments than the size of official reserves.' At first glance this appears obvious for it is these commercial holdings of foreign exchange which are used directly for financing international exchange while official reserves are used only to finance imbalances in countries' balance of…
Representative democracy via random selection
Some simple economics of voting and not voting
International Integration and the Interdependence of Economic Variables
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content
The utilitarian contract
On Equalizing the Distribution of Political Income
The Economic Approach to Public Policy
Can traditional economic theory help to solve today's vexing social problems? This unique collection of thirty-six papers strongly suggests that it can. The economic approach is applied imaginatively by the authors to a wide range of contemporary issues, such as crime, higher education, the environment, revenue sharing, equity, justice, and the distribution of income. The articles also deal with governmental behavior and the role of the economist…
A Note on the Relation between the Rate and Variability of Inflation
In recent years there has been considerable interest in the concept of the optimum rate of ancitipated inflation-that rate which taxes the holding of cash balances such that the marginal excess burden from the inflation tax equals the marginal cost of the most efficient alternative method of raising government revenue. (For recent discussion, and references to the earlier literature by Bailey, Freidman and others, see Tower (1971), Tower and Will…
Economists and Public Policy
An economic theory of mutually advantageous issue linkages in international negotiations
There has been considerable interest in recent years in the question of issue linkages in international negotiations. What is significant about discussions of linkages in the present era is the stress put on making trade-offs explicit among issues. Most of the highly publicized cases of proposed issue linkages appear to have been motivated by attempts of individual countries or groups of countries to extend their dominant bargaining or veto power…
Conflict and cooperation in Opec
In a recent article in this journal Paul Jabber presents a cogent analysis of many of the potential conflicts that may face OPEC over the coming years and concludes that a collapse of the cartel is extremely unlikely, even under conditions of severe political dispute among OPEC members. I share Jabber's view that a collapse of the cartel is not probable in the medium-term future. I believe, however, that Jabber has not sufficiently recognized the…
The United States and World Stagflation
This article argues that while macroeconomic and monetary interdependence is certainly important, the previous tendency to overlook the significance of such factors for the U.S. economy has given way to frequent tendencies to exaggerate greatly their quantitative importance. The available systematic empirical studies suggest that the United States has neither exported as much inflation and unemployment to other countries as is frequently alleged …
Power, Politics, and Prosperity
The widely different perspectives from which various writers approach issues of international economic interdependence can make this an extremely confusing area for the nonspecialist. In hopes of reducing this problem we attempt to briefly characterize and offer comments on the strengths and weaknesses of a number of the major schools of thought about the roles of power, politics, and economic prosperity in the political economy of international …
Slogans or substance
International money and the capitalist crisis
International Monetary Fund, 1972-1978
International Monetary Cooperation, Domestic Politics, and Policy Ideas
International monetary problems moved from the back pages to the front pages long ago, and yet, despite much attention, they continue to trouble national leaders, entrepreneurs, international officials and scholars, and to affect the average citizen. World payments imbalances and currency fluctuations have substantial domestic economic effects, give rise to protectionist pressures, put unwelcome heat on politicians, and raise fears that resulting…
National Macroeconomic Policy Preferences and International Coordination Issues
This paper stresses the importance of taking domestic economic structures and political pressures into account when considering issues of international macroeconomic policy coordination. The existence of domestic biases can cause policy coordination to increase rather than reduce macroeconomic instability. The paper offers a survey of the literature on national macroeconomic policy preferences and inflation unemployment tradeoffs. While this rese…
Combining rent-seeking and public choice theory in the analysis of tariffs versus quotas
EC 1992 from a North American Perspective
Journal Article EC 1992 from a North American Perspective Get access Sven W. Arndt, Sven W. Arndt Claremont McKenna College Search for other works by this author on: Oxford Academic Google Scholar Thomas D. Willett Thomas D. Willett Claremont Graduate School Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 101, Issue 409, 1 November 1991, Pages 1567–1579, https://doi.org/10.2307/2234905 Publish…
The anti inflationary influence of corporatist structures and central bank independence
Financial Interdependence and the State
As the twentieth century draws to a close, one can find sharply contrasting views among leading scholars on almost every key issue in positive international political economy. How strong are international as opposed to domestic influences on policy? How important are issues of national security (”high politics”) versus economic considerations(”low politics”)? What role do institutions—international and domestic—play in influencing and constrainin…
Avinish K. Dixit. The Making of Economic Policy
Economics (30 obras) · Political science (25 obras) · Politics (15 obras) · Law (14 obras) · Global Financial Crisis and Policies (13 obras) · Law (12 obras) · International economics (11 obras) · Macroeconomics (9 obras) · Monetary economics (9 obras) · Monetary Policy and Economic Impact (8 obras)