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A Comparison of Debt and Primary-deficit Constraints

Beetsma, Roel; Ribeiro, Marcos Poplawski; Schabert, Andreas - C.E.P.R. Discussion Papers - 2008

This paper compares constraints on the public debt with constraints on the primary deficit. The analysis takes into account how an optimizing government reacts to the different constraints when deciding on a spending and borrowing plan. We find that the economy behaves similarly under both...

Persistent link: https://www.econbiz.de/10005662084

The Welfare Economics of Cooperative and Uncooperative Fiscal Policy

Buiter, Willem H.; Kletzer, Kenneth - C.E.P.R. Discussion Papers - 1990

In a competitive two-country overlapping generations model with perfect capital mobility, a plan that is individually Pareto optimal (that is Pareto optimal with respect to individual preferences) can be sustained without coordination of national fiscal policies where the fiscal arsenal is...

Persistent link: https://www.econbiz.de/10005662314

Welfare Implications of User Innovation

Henkel, Joachim; von Hippel, Eric - C.E.P.R. Discussion Papers - 2003

The literature on new goods and social welfare generally assumes that manufacturers develop innovations. But innovation by users has been found to also be an important part of innovative activity in the economy. In this Paper we explore the impact of users as a source of innovation on product...

Persistent link: https://www.econbiz.de/10005666650

Some Social Welfare Implications of Behavioural Preferences

Gallice, Andrea - C.E.P.R. Discussion Papers - 2007

We investigate how the assumption that individuals are characterized by some recent forms of behavioural preferences changes the analysis of an otherwise classical welfare problem, namely the optimal allocation of a scarce resource among a finite number of claimants. We consider two preference...

Persistent link: https://www.econbiz.de/10005497756

Selective immigration policies, migrants' education and welfare at origin

Bertoli, Simone; Brücker, Herbert - C.E.P.R. Discussion Papers - 2011

Destination countries are progressively shifting towards selective immigration policies. These can eectively increase migrants' average education even if one allows for endogenous schooling decisions and education policies at origin. Still, more selective immigration policies reduce social...

Persistent link: https://www.econbiz.de/10008854467

An Analysis of Eurobonds

Beetsma, Roel; Mavromatis, Konstantinos - C.E.P.R. Discussion Papers - 2012

We analyse different forms of international debt mutualisation in a simple framework with a political distortion and (partial) default under adverse economic circumstances. One form is a debt repayment guarantee, which can be "unlimited" or "limited", i.e. only be invoked when the guarantee...

Persistent link: https://www.econbiz.de/10011083437

Partial Insurance and Investments in Children

Carneiro, Pedro; Ginja, Rita - C.E.P.R. Discussion Papers - 2015

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …

Persistent link: https://www.econbiz.de/10011266538

A Structural Non-Stationary Model of Job Search: Stigmatization of the Unemployed by Job Offers or Wage Offers?

Lollivier, Stefan; Rioux, Laurence - C.E.P.R. Discussion Papers - 2005

We develop a structural non-stationary model of job search in the fashion of van den Berg (1990). Non-stationarity comes from the duration-dependence in benefits, in the arrival rate of job offers, and in wage offers. The model is then estimated using the French sample of the ECHP Survey...

Persistent link: https://www.econbiz.de/10005662101

Designing a Cheaper and More Effective Unemployment Benefit System

Coles, Melvyn G - C.E.P.R. Discussion Papers - 1996

unemployed is particularly costly, this policy provides insurance equivalent to that provided by the current system. By reducing …

Persistent link: https://www.econbiz.de/10005662357

Insurance and Information: Firms as a Commitment Device

Bovenberg, A Lans; Teulings, Coen N - C.E.P.R. Discussion Papers - 2002

explicit contracts to crowd out implicit insurance provided by the firm, even though the latter yields higher welfare. We …

Persistent link: https://www.econbiz.de/10005667043