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Incomplete-Market Equilibria Solved Recursively on an Event Tree

Dumas, Bernard J; Lyasoff, Andrew - C.E.P.R. Discussion Papers - 2009

We develop a method that allows one to compute incomplete-market equilibria routinely for Markovian equilibria (when they exist). The main difficulty to be overcome arises from the set of state variables. There are, of course, exogenous state variables driving the economy but, in an incomplete...

Persistent link: https://www.econbiz.de/10005124234

Corporate Efficiency in Europe

Hanousek, Jan; Kocenda, Evzen; Shamshur, Anastasiya - C.E.P.R. Discussion Papers - 2015

Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate …

Persistent link: https://www.econbiz.de/10011213309

Income inequality, decentralisation and regional development in Western Europe

Pike, Andy J; Rodriguez-Pose, Andres; Tomaney, John; … - C.E.P.R. Discussion Papers - 2011

Western Europe has an effect on within regional interpersonal inequality. Second, whether this potential relationship is …

Persistent link: https://www.econbiz.de/10009322504

The Causal Effect of Education on Health: What is the Role of Health Behaviors?

Brunello, Giorgio; Fort, Margherita; Schneeweis, Nicole; … - C.E.P.R. Discussion Papers - 2011

We study the contribution of health-related behaviors to the health-education gradient by distinguishing between short-run and long-run mediating effects: while in the former only current or lagged behaviors are taken into account, in the latter we consider the entire history of behaviors. We...

Persistent link: https://www.econbiz.de/10009385763

Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2008

Ponticelli, Jacopo; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2011

Does fiscal consolidation lead to social unrest? Using cross-country evidence for the period 1919 to 2008, we examine the extent to which societies become unstable after budget cuts. The results show a clear correlation between fiscal retrenchment and instability. We test if the relationship...

Persistent link: https://www.econbiz.de/10009201119

Europe’s Great Depression: Coordination Failure after the First World War

Wolf, Nikolaus - C.E.P.R. Discussion Papers - 2010

of the great depression in Europe and the delay of recovery as a failure to coordinate economic policies. Europe could …

Persistent link: https://www.econbiz.de/10008466327

Work and Leisure in the US and Europe: Why So Different?

Alesina, Alberto F; Glaeser, Edward L; Sacerdote, Bruce - C.E.P.R. Discussion Papers - 2005

the US and Europe. Another popular view is that these differences are explained by long-standing European ‘culture’, but … the US and Europe. These policies do not seem to have increased employment, but they may have had a more society …

Persistent link: https://www.econbiz.de/10005662089

Demographic Change, Economic Growth and Social Welfare in Europe

Ermisch, John F; Joshi, Heather - C.E.P.R. Discussion Papers - 1987

This paper examines the economic rationale for concern about the falling rate of growth of Europe's population. It also … assembles demographic and economic time-series data for the countries of Eastern and Western Europe during the postwar period …

Persistent link: https://www.econbiz.de/10005662094

The Exchange-Rate Question in Europe

Giavazzi, Francesco - C.E.P.R. Discussion Papers - 1989

This paper reviews the arguments for and against monetary unification in Europe, taking into account the recent shift …

Persistent link: https://www.econbiz.de/10005666407

The Early Modern Great Divergence: Wages, Prices and Economic Development in Europe and Asia, 1500-1800

Broadberry, Stephen N; Gupta, Bishnupriya - C.E.P.R. Discussion Papers - 2005

1500 and 1800 look similar to the stagnating southern, central and eastern parts of Europe rather than the developing … northwestern parts. In the advanced parts of India and China, grain wages were comparable to those in northwestern Europe, but … wages of northwestern Europe were not simply a monetary phenomenon, but reflected high productivity in the tradable sector …

Persistent link: https://www.econbiz.de/10005666692