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Pollution Permits, Strategic Trading and Dynamic Technology Adoption
Moreno-Bromberg, Santiago; Taschini, Luca - CESifo - 2011
a self-financing policy (based on convex risk measures) is proposed and implemented. …
Persistent link: https://www.econbiz.de/10008914285
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Provision of a Public Good with Altruistic Overlapping Generations and Many Tribes
Karp, Larry S. - CESifo - 2012
Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...
Persistent link: https://www.econbiz.de/10010877869
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Markov Perfect Equilibria in Differential Games with Regime Switching Strategies
Long, Ngo Van; Prieur, Fabien; Puzon, Klarizze; … - CESifo - 2014
We propose a new methodology exploring Markov perfect equilibrium strategies in differential games with regime switching. Specifically, we develop a general game with two players having two kinds of strategies. Players choose an action that influences the evolution of a state variable, and...
Persistent link: https://www.econbiz.de/10010747209
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International Environmental Agreements with Uncertainty, Learning and Risk Aversion
Finus, Michael; Pintassilgo, Pedro; Ulph, Alistair - CESifo - 2014
of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success …
Persistent link: https://www.econbiz.de/10010736746
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Business Decision-Making under Uncertainty: Evidence from Employment and Number of Businesses
Ghosal, Vivek; Ye, Yang - CESifo - 2013
uncertainty on firms’ decisions and market outcomes. We construct alternative measures of uncertainty based on survey of … index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment and the … generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on firms’ decisions …
Persistent link: https://www.econbiz.de/10010674454
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Uncertainty and the Employment Dynamics of Small and Large Businesses
Ghosal, Vivek; Ye, Yang - CESifo - 2014
We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …
Persistent link: https://www.econbiz.de/10010960647
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Exploring Higher-Order Risk Effects
Deck, Cary; Schlesinger, Harris - CESifo - 2008
Higher-order risk effects play an important role in examining economic behavior under uncertainty. A precautionary … presence of an unavoidable risk affects one’s behavior towards a second risk. These two properties also play key roles in …
Persistent link: https://www.econbiz.de/10005181486
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On the Desirability of Taxing Capital Income to Reduce Moral Hazard in Social Insurance
Jacobs, Bas; Schindler, Dirk - CESifo - 2009
more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …
Persistent link: https://www.econbiz.de/10008583702
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Catalysts for Social Insurance: Education Subsidies vs. Real Capital Taxation
Schindler, Dirk; Yang, Hongyan - CESifo - 2010
To analyze the optimal social insurance package, we set up a two-period life-cycle model with risky human capital investment in which the government has access to labor taxation, education subsidies and capital taxation. Social insurance is provided by redistributive labor taxation. Moreover,...
Persistent link: https://www.econbiz.de/10008833884
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Economic Challenges in the Anthropocene
Musu, Ignazio - CESifo - 2013
The evolution during the Anthropocene is analyzed through the interaction between economic and technological development, characterized by the role of fossil fuels and by the progressive dominance of those with a higher energy and density power. The challenge is how to make the rising demand for...
Persistent link: https://www.econbiz.de/10010877706