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Optimal market design
Boone, Jan; Goeree, Jacob K. - C.E.P.R. Discussion Papers - 2010
normative analysis, i.e. we evaluate alternative competition and innovation policies from a welfare perspective. Third, we … approach in several ways. We reproduce the empirical finding that innovation levels are higher in markets with lower price … dynamic markets characterized by higher levels of innovation should be less competitive. Furthermore, we demonstrate how our …
Persistent link: https://www.econbiz.de/10008530381
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The Relationship between Market Structure and Innovation in Industry Equilibrium: A Case Study of the Global Automobile Industry
Hashmi, Aamir Rafique; Van Biesebroeck, Johannes - C.E.P.R. Discussion Papers - 2012
study the equilibrium relationship between market structure and innovation. The key state variable in the model is the …. Efficiency is estimated to be stochastically increasing in the dynamic control--innovation--which is proxied by patenting … behavior. Equilibrium innovation is a function of all state variables in the industry and the cost of R&D which includes a …
Persistent link: https://www.econbiz.de/10011084428
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Taxing Sin Goods and Subsidizing Health Care
Cremer, Helmuth; De Donder, Philippe; Maldonado, Darío; … - C.E.P.R. Discussion Papers - 2008
We consider a two-period model. In the first period, individuals consume two goods: one is sinful and the other is not. The sin good brings pleasure but has a detrimental effect on second period health and individuals tend to underestimate this effect. In the second period, individuals can...
Persistent link: https://www.econbiz.de/10005504681
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Boundedly Rational Dynamic Programming: Some Preliminary Results
Gabaix, Xavier - C.E.P.R. Discussion Papers - 2012
A key open question in economics is the practical, portable modeling of bounded rationality. In this short note, I report on ongoing progress that is more fully developed elsewhere. I present some results from a new model with boundedly rational features in which the decision-maker (DM) builds a...
Persistent link: https://www.econbiz.de/10011083499
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Macroprudential policy and central bank communication
Born, Benjamin; Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2010
In response to the financial crisis of 2007-2010, many central banks are getting involved in macroprudential supervision. Central bank communication will constitute a central policy tool for that purpose. The paper asks how such communication will affect financial markets, exploiting the fact...
Persistent link: https://www.econbiz.de/10008692311
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Foreign Direct Investment and Politics: The Swedish Model
Blomström, Magnus; Kokko, Ari - C.E.P.R. Discussion Papers - 1995
Sweden is home to a remarkably large number of prosperous multinationals. We argue that this is partly the result of industrial policies that have been biased in favour of large firms, and partly the result of an institutional setting where regulations and controls have facilitated investment...
Persistent link: https://www.econbiz.de/10005123621
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Measuring Fiscal Sustainability
Polito, Vito; Wickens, Michael R. - C.E.P.R. Discussion Papers - 2005
We propose an index of the fiscal stance that is convenient for practical use. It is based on a finite time horizon, not on an infinite time horizon like most tests. As it employs VAR analysis it is simple to compute and easily automated. We also show how it is possible to analyse a change of...
Persistent link: https://www.econbiz.de/10005123666
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The Measurement of Policy Effects in a Non-Causal Model: An Application to Economic Policy in the UK, 1974-79
Artis, Michael J; Bladen-Hovell, Robin; Ma, Yue - C.E.P.R. Discussion Papers - 1991
There is a well-established methodology for measuring the effects of economic policy in a model that is `causal' or backward-looking. In this paper a complementary methodology is described for the case in which the model is `non-causal' or forward-looking. The methodology is then applied to an...
Persistent link: https://www.econbiz.de/10005281389
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Capital controls and foreign exchange policy
Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2012
The empirical analysis of the paper suggests that an FX policy objective and concerns about an overheating of the domestic economy have been the two main motives for the (re-)introduction and persistence of capital controls over the past decade. Capital controls are strongly associated with...
Persistent link: https://www.econbiz.de/10011083774
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Electoral Incentives and Economic Policy across Political Regimes
Galasso, Vincenzo; Nunnari, Salvatore - C.E.P.R. Discussion Papers - 2010
This paper provides a direct test of the causal link from electoral rules to economic policy. Our theoretical model delivers unambigous predictions on the interaction between institutions and a time varying event, namely the unemployment rate in pivotal and non-pivotal districts. We use local...
Persistent link: https://www.econbiz.de/10008466353