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Why Uncertainty Matters - Discounting under Intertemporal Risk Aversion and Ambiguity
Traeger, Christian - CESifo - 2012
Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the discount rate, which is the crucial determinant in balancing...
Persistent link: https://www.econbiz.de/10009645646
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Do Permit Allocations Matter?
Verbon, Harrie A. A; Withagen, Cees A. - CESifo - 2010
In the standard setting a system of tradable permits is effective and cost-efficient in attaining the policy objective of pollution reduction. This outcome is challenged in case of a tradable permit system in a federal system/constitution with individual states having discretionary power...
Persistent link: https://www.econbiz.de/10008727284
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Food Prices and Political Instability
Arezki, Rabah; Brückner, Markus - CESifo - 2011
We examine the effects that variations in the international food prices have on democracy and intra-state conflict using panel data for over 120 countries during the period 1970-2007. Our main finding is that in Low Income Countries increases in the international food prices lead to a...
Persistent link: https://www.econbiz.de/10009274520
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On the Political Economy of Environmental Policy
Kirchgässner, Gebhard; Schneider, Friedrich - CESifo - 2002
In the past there was hardly any use of economic instruments in environmental policy, mainly command and control measures were used. More recently, ecological taxes as well as tradable permits became more popular and voluntary agreements have been imple-mented. Using the Public Choice ap-proach...
Persistent link: https://www.econbiz.de/10005051508
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Brown Growth, Green Growth, and the Efficiency of Urbanization
Quaas, Martin F.; Smulders, Sjak - CESifo - 2012
We analyze the efficiency of urbanization patterns in a stylized dynamic model of urban growth with three sectors of production. Pollution, as a force that discourages agglomeration, is caused by domestic production. We show that cities are too large and too few in number in uncoordinated...
Persistent link: https://www.econbiz.de/10010599729
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Guest-Worker Migration, Human Capital and Fertility
Azarnert, Leonid V. - CESifo - 2011
This work focuses on a temporary guest-worker-type migration of individuals from the middle class of the wealth …
Persistent link: https://www.econbiz.de/10009020797
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Labor Migration and the Case for Flat Tax
Blumkin, Tomer; Sadka, Efraim; Shem-Tov, Yotam - CESifo - 2011
In this paper we employ a tax-competition model to demonstrate that in the presence of migration the re …-distributive advantage of a non-linear income tax system over a linear (flat) one is significantly mitigated relative to the autarky (no-migration …) equilibrium. When migration threats are sufficiently strong, a coordinated shift from a non-linear (prima-facie superior) system …
Persistent link: https://www.econbiz.de/10009024840
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Migration and Trade
Egger, Peter; Ehrlich, Maximilian Von; Nelson, Douglas R. - CESifo - 2011
Theoretical and empirical research in economics suggests that bilateral migration triggers bilateral trade through a … number of channels. This paper assesses the functional form of the impact of migration on trade flows in a quasi …-experimental setting. We provide evidence that the relationship is not log-linear. In particular, at small levels of migration (stocks) the …
Persistent link: https://www.econbiz.de/10009024841
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Do Mobile Pensioners Threaten the Deferred Taxation of Savings?
Meier, Volker; Wagener, Andreas - CESifo - 2011
We investigate optimal taxation of lifetime income with and without an emigration option during old age. The government sets the rates of deferred taxation and of possibly reduced taxation of interest. If agents are immobile, the optimal policy consists in full deferral of income taxes on...
Persistent link: https://www.econbiz.de/10009351472
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History, Expectations, and Public Policy: Economic Development in Eastern Germany
Schäfer, Andreas; Steger, Thomas - CESifo - 2010
Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...
Persistent link: https://www.econbiz.de/10008671695