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Voting on Thresholds for Public Goods: Experimental Evidence

Rauchdobler, Julian; Sausgruber, Rupert; Tyran, Jean-Robert - CESifo - 2009

Introducing a threshold in the sense of a minimal project size transforms a public goods game with an inefficient … thresholds are ineffective at best and often counter-productive. This holds under a range of threshold levels and refund rates …. We test if thresholds perform better if they are endogenously chosen, i.e. if a threshold is approved in a referendum …

Persistent link: https://www.econbiz.de/10008583651

Stay in School or Start Working? - The Human Capital Investment Decision under Uncertainty and Irreversibility

Bilkic, Natasa; Gries, Thomas; Pilichowski, Margarethe - CESifo - 2009

under uncertainty and irreversibility. Unlike other approaches we include accumulative schooling costs, and provide a full …

Persistent link: https://www.econbiz.de/10008596569

Technology Transfers for Climate Change

Elsayyad, May; Morath, Florian - CESifo - 2013

This paper considers investments in cost-reducing technology in the context of contributions to climate protection. Contributions to mitigating climate change are analyzed in a two-period model where later contributions can be based on better information, but delaying the contribution to the...

Persistent link: https://www.econbiz.de/10010723540

Optimal Investment Strategies under Demand and Tax Policy Uncertainty

Boehm, Hjalmar; Funke, Michael - CESifo - 2000

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is true regardless of whether random tax changes are...

Persistent link: https://www.econbiz.de/10005765662

The Irreversibility Premium

Chirinko, Robert S.; Schaller, Huntley - CESifo - 2008

we label the irreversibility premium. Estimates are based on panel data for the period 1980-2001. The large dataset …-wide shocks on the irreversibility premium. Our estimates provide a readily interpretable measure of the importance of … irreversibility and document that the irreversibility premium is both economically and statistically significant. …

Persistent link: https://www.econbiz.de/10005766040

On Corporate Tax Asymmetries and Neutrality

Panteghini, Paolo - CESifo - 2000

This article discusses the effects of corporate tax asymmetries under investment irreversibility. We introduce a tax …

Persistent link: https://www.econbiz.de/10005766102

Does the Nominal Exchange Rate Regime Matter for Investment?

Böhm, Hjalmar; Funke, Michael - CESifo - 2001

This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate regimes (very hard pegs, intermediate regimes, and floats) by means of a unified approach. The comparison of different exchange rate regimes indicates that currency volatility...

Persistent link: https://www.econbiz.de/10005766171

A Simple Explanation for the Unfavorable Tax Treatment of Investment Costs

Panteghini, Paolo - CESifo - 2006

The evidence shows that in most countries the present value of depreciation allowances is less than 100% of the cost of capital. In this article we use a real-option model with debt financing, and show that less favorable depreciation allowances are offset by tax benefits arising from debt...

Persistent link: https://www.econbiz.de/10005181423

Preemption, Start-Up Decisions and the Firms’ Capital Structure

Moretto, Michele; Panteghini, Paolo - CESifo - 2007

In this article, we analyse the interactions between financial and start-up decisions in an oligopolistic framework, where firms compete to enter a new market. We show that preemption can substantially reduce the negative effects of credit rationing on start-up investment decisions.

Persistent link: https://www.econbiz.de/10005405785

Competing for Foreign Direct Investments: A Real Options Approach

Panteghini, Paolo; Schjelderup, Guttorm - CESifo - 2003

This paper uses the Bad News Principle to study how the ability of multinationals to shift profits by transfer pricing affects both the timing of foreign direct investment decisions and government tax policy. A main finding of the paper is that if countries compete to attract foreign direct...

Persistent link: https://www.econbiz.de/10005405899