WorldCat Identities

Leith, Campbell

Overview
Works: 23 works in 57 publications in 2 languages and 187 library holdings
Roles: Author
Classifications: HF5416.5, 332.46
Publication Timeline
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Most widely held works by Campbell Leith
Monetary and fiscal policy interactions in a new Keynesian model with capital accumulation and non-Ricardian consumers by Campbell Leith( Book )

9 editions published in 2006 in English and held by 46 WorldCat member libraries worldwide

A sectoral analysis of price-setting behavior in US manufacturing industries by Campbell Leith( Book )

5 editions published in 2003 in English and held by 21 WorldCat member libraries worldwide

Wage inequality and the effort incentive effects of technological progress by Campbell Leith( Book )

6 editions published in 2001 in English and held by 17 WorldCat member libraries worldwide

To explain the rise in the college wage premium in developed economies in the past decades, the present paper examines the effects of technological progress on workers' effort incentives, which determine the effective labor supply. Five effort incentive effects of technological progress are identified, and through these we obtain a number of results. Firstly, we establish that wage inequality can increase following an acceleration in skill-neutral technology progress. Secondly, an increase in skill-biased technological progress means, (I) skilled wages overshoot, (II) unskilled wages undershoot, and hence (III) wage inequality overshoots their respective long-run values. Thirdly, endogenising the number of skilled and unskilled workers on the basis of economic incentives does not eliminate wage inequality even in the long run. Fourthly, we can obtain hysteresis effects in the determination of long-run wage inequality. Finally, government policies which raise the equilibrium rate of unemployment are likely to reduce the impact of technical progress on inequality, and this may help to explain the relative increase in inequality in the US and UK compared with other European economies. Our focus on the supply-side complements studies which emphasize the impact of skill-biased technological progress on relative demand for skill workers
Compatibility between monetary and fiscal policy under EMU by Campbell Leith( Book )

4 editions published in 2001 in English and held by 8 WorldCat member libraries worldwide

Interest rate feedback rules in an open economy with forward looking inflation by Campbell Leith( Book )

5 editions published between 1997 and 2000 in English and held by 7 WorldCat member libraries worldwide

Unemployment and the productivity slowdown : a labour supply perspective by Campbell Leith( Book )

3 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

Wage inequality and the effort incentive effects of technological progress by Cecilia García-Peñalosa( Book )

3 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

Interactions between monetary and fiscal policy under flexible exchange rates by Campbell Leith( Book )

3 editions published in 2002 in English and held by 5 WorldCat member libraries worldwide

Interest rates and the price level by Campbell Leith( Book )

3 editions published in 1997 in English and held by 4 WorldCat member libraries worldwide

Monetary policy and the sterling exchange rate( )

1 edition published in 2006 in English and held by 3 WorldCat member libraries worldwide

"[This dossier addresses] issues raised by the sterling appreciation of 1996-97 and the subsequent prolonged overvaluation. Cobham discusses the MPC's understanding of exchange rate changes and examines policy makers' responses to the proposal that policy should respond to exchange rate misalignments. Kirsanova, Leith and Wren-Lewis construct a "new open economy macroeconomics" model with international risk sharing shocks, in which the welfare function derived includes a term in the "terms of trade gap". Allsopp, Kara and Nelson investigate the exchange rate-prices pass-through and how imports should be modelled, and draw out the policy implications."--Editor
Fiscal policy, macroeconomics stability and finite horizons by Javier Andrés( Book )

2 editions published in 2005 in Spanish and held by 2 WorldCat member libraries worldwide

Special issue : fiscal policy( Book )

1 edition published in 2006 in English and held by 2 WorldCat member libraries worldwide

Fiscal policy( Book )

1 edition published in 2006 in English and held by 1 WorldCat member library worldwide

Taylor rules in the open economy by Campbell Leith( )

1 edition published in 2002 in English and held by 1 WorldCat member library worldwide

Fiscal stabilisation policy and fiscal institutions by Campbell Leith( )

1 edition published in 2006 in English and held by 0 WorldCat member libraries worldwide

Fiscal Sustainability in a New Keynesian Model by Campbell Leith( )

2 editions published between 2006 and 2007 in English and held by 0 WorldCat member libraries worldwide

Most recent work deriving optimal monetary policy utilising New Neo-Classical Synthesis (NNCS) models abstract from the impact of monetary policy on the government's finances, by assuming that any change in the government's budget can be financed through lump sum taxes. In this paper, we assume that the government does not have access to such taxes to satisfy its intertemporal budget constraint in the face of shocks. We then consider optimal monetary and fiscal policies under discretion and commitment in the face of technology, preference and cost-push shocks. We confirm that the optimal precommitment policy implies a random walk in the steady-state level of debt. We also find that the time-inconsistency in the optimal precommitment policy is such that governments are tempted, given inflationary expectations, to utilise their monetary and fiscal instruments in the initial period to change the ultimate debt burden they need to service. We show that this temptation is only eliminated if following shocks, the new steady-state debt is equal to the original (efficient) debt level. This implies that under a discretionary policy the random walk result is overturned: debt will always be returned to this initial steady-state even although there is no explicit debt target in the government's objective function. Analytically and in a series of numerical simulations we show which instrument is used to stabilise the debt depends crucially on the degree of nominal inertia and the size of the debt-stock. We also show that the welfare consequences of introducing debt are negligible for precommitment policy, but can be significant for discretionary policy
Understanding inflation as a joint monetary-fiscal phenomenon by Eric Michael Leeper( )

1 edition published in 2016 in English and held by 0 WorldCat member libraries worldwide

Abstract: We develop the theory of price-level determination in a range of models using both ad hoc policy rules and jointly optimal monetary and fiscal policies and discuss empirical issues that arise when trying to identify monetary-fiscal regime. The article concludes with directions in which theoretical and empirical developments may go. The article is prepared for the Handbook of Macroeconomics, volume 2 (John B. Taylor and Harald Uhlig, editors, Elsevier Press)
Uncertain fiscal consolidations by Huixin Bi( )

1 edition published in 2012 in English and held by 0 WorldCat member libraries worldwide

The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition are uncertain. Drawing on the evidence in Alesina and Ardagna (2010), we emphasize whether or not the fiscal consolidation is driven by tax rises or expenditure cuts. We find that the composition of the fiscal consolidation, its duration, the monetary policy stance, the level of government debt and expectations over the likelihood and composition of fiscal consolidations all matter in determining the extent to which a given consolidation is expansionary and/or successful in stabilizing government debt
Electoral Uncertainty, the Deficit Bias and the Electoral Cycle in a New Keynesian Economy by Simon Wren-Lewis( )

1 edition published in 2009 in English and held by 0 WorldCat member libraries worldwide

Recent attempts to incorporate optimal fiscal policy into New Keynesian models subject to nominal inertia, have tended to assume that policy makers are benevolent and have access to a commitment technology. A separate literature, on the New Political Economy, has focused on real economies where there is strategic use of policy instruments in a world of political conflict. In this paper we combine these literatures and assume that policy is set in a New Keynesian economy by one of two policy makers facing electoral uncertainty (in terms of infrequent elections and an endogenous voting mechanism). The policy makers generally share the social welfare function, but differ in their preferences over fiscal expenditure (in its size and/or composition). We use this model to examine three issues that arise from either literature. First, we consider the extent to which electoral competition gives rise to a debt or deficit bias, as one party seeks to win elections and tie the hands of a potential successor, when all debt is defined in nominal terms. Second we examine the extent and nature of the electoral cycle introduced by having two parties reflecting different preferences over either the composition or amount of government spending. Third, we examine whether electoral competition has any impact on the conventional business cycle stabilisation policy, compared to the standard analysis that assumes a single benevolent government
The costs of fiscal inflexibility by Campbell Leith( )

1 edition published in 2006 in English and held by 0 WorldCat member libraries worldwide

 
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Audience level: 0.88 (from 0.68 for Uncertain ... to 1.00 for Electoral ...)

Alternative Names
Leith, Camnbell B.

Leith, Campbell

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