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Human Capital, Innovation, and Climate Policy: An Integrated Assessment

Carraro, Carlo; De Cian, Enrica; Tavoni, Massimo - C.E.P.R. Discussion Papers - 2012

This paper looks at the interplay between human capital and innovation in the presence of climate and educational … moderate, short-term consumption loss. Human capital is complement to all forms of innovation and an educational policy … stimulates both energy and general purpose innovation. This result has important policy implications considering the growing …

Persistent link: https://www.econbiz.de/10011084481

What is the Top Priority on Climate Change?

Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

talk to the Potsdam Global Sustainability Symposium (which drafted the Potsdam Declaration presented to the 2007 UN Climate …

Persistent link: https://www.econbiz.de/10005123837

Imperfect Tests and Natural Insurance Monopolies

Emons, Winand - C.E.P.R. Discussion Papers - 1997

This paper considers a housing insurance market in which buildings have different damage probabilities. Insurers use imperfect tests to find out about buildings’ damage types. The insurance market is a natural monopoly. If more than one insurer is active, high risk house owners continue to...

Persistent link: https://www.econbiz.de/10005123854

Endogenous Communication Among Lenders and Entrepreneurial Incentives

Padilla, Atilano Jorge; Pagano, Marco - C.E.P.R. Discussion Papers - 1996

When banks have an informational monopoly about their borrowers, the latter incentives can be thwarted by the fear that the return on their effort will be partly appropriated by their banks via high future interest rates. Banks can correct this incentive problem through a commitment to share...

Persistent link: https://www.econbiz.de/10005124286

The Unsustainable US Current Account Position Revisited

Obstfeld, Maurice; Rogoff, Kenneth - C.E.P.R. Discussion Papers - 2005

We show that the when one takes into account the global equilibrium ramifications of an unwinding of the US current account deficit, currently running at more than 6% of GDP, the potential collapse of the dollar becomes considerably larger than our previous estimates (Obstfeld and Rogoff 2000a)...

Persistent link: https://www.econbiz.de/10005124302

Bargaining and Sustainability: The Argentine Debt Swap of 2005

Dhillon, Amrita; García-Fronti, Javier; Ghosal, Sayantan; … - C.E.P.R. Discussion Papers - 2005

When Argentine sovereign default in December 2001 led to a collapse of the peso, the burden of dollar debt became demonstrably unsustainable. But it was not clear what restructuring was feasible, nor when. Eventually, in 2005 after a delay of more than three years, a supermajority of creditors...

Persistent link: https://www.econbiz.de/10005504331

The Sustainable Debts of Philip II: A Reconstruction of Spain's Fiscal Position, 1560-1598

Drelichman, Mauricio; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2007

The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. The king failed to honour his debts four times during his reign. In this paper, we reassess the fiscal position of Habsburg Spain. New archival evidence allows us to derive comprehensive estimates of...

Persistent link: https://www.econbiz.de/10005656157

Beyond GDP and Back: What is the Value-added by Additional Components of Welfare Measurement?

Kassenboehmer, Sonja C; Schmidt, Christoph M - C.E.P.R. Discussion Papers - 2011

Building on the Stiglitz report, a growing literature suggests to explore other aspects of human welfare apart from material well-being, such as job security, crime, health, environmental factors and subjective perceptions. To explore the additional information of these indicators, we analyze...

Persistent link: https://www.econbiz.de/10008854482

The Sustainability of Optimal Cooperative Macroeconomic Policies in a Two-Country World

Currie, David; Levine, Paul L - C.E.P.R. Discussion Papers - 1986

The paper investigates the sustainability of cooperative rules for the conduct of macroeconomic policy in a two …

Persistent link: https://www.econbiz.de/10005281334

Signalling Debt Sustainability

Drudi, Francesco; Prati, Alessandro - C.E.P.R. Discussion Papers - 1993

over. The model determines when it is optimal for the government in power to signal the sustainability (full repayment) or … the non-sustainability (partial repayment) of the debt regime. The timing depends on the initial reputation of the …

Persistent link: https://www.econbiz.de/10005114285

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