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Are we Better Off if our Politicians Have More Information?
Lagerlöf, Johan N. M. - C.E.P.R. Discussion Papers - 2003
, which creates incentives for free-riding and strategic delegation. The welfare effects of providing the policy-maker with …. Implications for the welfare effects of ‘informational lobbying’ are discussed. …
Persistent link: https://www.econbiz.de/10005124334
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Science versus Profit in Research: Lessons from the Human Genome Project
Carraro, Carlo; Pomè, Alessandra; Siniscalco, Domenico - C.E.P.R. Discussion Papers - 2001
This Paper elaborates on the recent race to sequence the human genome. Starting from the debate arising from the genome case on public versus private research, the Paper shows that in some fundamental research areas, where knowledge externalities play an important role, market and non-market...
Persistent link: https://www.econbiz.de/10005662042
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Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion
Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2005
This paper analyses the welfare effects of changes in cross-sectional wage dispersion, using a class of tractable … heterogeneous-agent economies. We emphasize a trade-off in the welfare calculation that arises when labour supply is endogenous. On … welfare loss roughly equivalent to a 2.5% decline in lifetime consumption. Assuming Cobb-Douglas preferences, this number is …
Persistent link: https://www.econbiz.de/10005123728
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The Cross-Sectional Implications of Rising Wage Inequality in the United States
Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004
This Paper explores the implications of the recent sharp rise in US wage inequality for welfare and the cross … markets can account for these trends in cross-sectional US data. We also investigate the welfare costs of the rise in wage in …
Persistent link: https://www.econbiz.de/10005656181
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Inflation as a Redistribution Shock: Effects on Aggregates and Welfare
Doepke, Matthias; Schneider, Martin - C.E.P.R. Discussion Papers - 2006
to borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We … weighted welfare of domestic households. …
Persistent link: https://www.econbiz.de/10005114251
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Cutting out the Middleman: Crowdinvesting, Efficiency, and Inequality
Grüner, Hans Peter; Siemroth, Christoph - C.E.P.R. Discussion Papers - 2015
We show that direct investments by consumers without the use of financial intermediaries can efficiently allocate financial capital to firms seeking funding for production of a novel consumption good. In our setting, consumers are also investors, and their privately known consumption preferences...
Persistent link: https://www.econbiz.de/10011201361
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Real Effects of Inflation Through the Redistribution of Nominal Wealth
Doepke, Matthias; Schneider, Martin - C.E.P.R. Discussion Papers - 2005
welfare of domestic households. …
Persistent link: https://www.econbiz.de/10005789015
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Inequality and Growth
Bénabou, Roland - C.E.P.R. Discussion Papers - 1996
Using two unifying models and an empirical exercise, this paper presents and extends the main theories linking income distribution and growth, as well as the relevant empirical evidence. The first model integrates the political-economy and imperfect capital markets theories. It allows for...
Persistent link: https://www.econbiz.de/10005123982
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Technological Progress, Mobility, and Economic Growth
Galor, Oded; Tsiddon, Daniel - C.E.P.R. Discussion Papers - 1996
This paper analyses the relationship between technological progress, intergenerational earnings mobility, and economic growth. The analysis demonstrates that the interplay between technological progress and two components that determine individual earnings – parental human capital and...
Persistent link: https://www.econbiz.de/10005124238
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From Bottom to Top: The Entire Distribution of Market Income in Germany, 1992-2001
Bach, Stefan; Corneo, Giacomo; Steiner, Viktor - C.E.P.R. Discussion Papers - 2007
an integrated data set of individual tax returns and the German Socio-Economic Panel. The unique feature of this …
Persistent link: https://www.econbiz.de/10005124248