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Using Bankruptcy to Reduce Foreclosures: Does Strip-down of Mortgages Affect the Supply of Mortgage Credit?
Li, Wenli; Tewari, Ishani; White, Michelle - CESifo - 2014
We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip-down reduces the principal of underwater residential mortgages to the current market value of the property for homeowners in Chapter 13 bankruptcy. Our identification is...
Persistent link: https://www.econbiz.de/10010877889
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Globalization, Economic Freedom and Human Rights
Dreher, Axel; Gassebner, Martin; Siemers, Lars-H. R. - CESifo - 2010
Using the KOF Index of Globalization and two indices of economic freedom, we empirically analyze whether globalization and economic liberalization affect governments’ respect for human rights using a panel of 106 countries over the 1981-2004 period. According to our results, physical integrity...
Persistent link: https://www.econbiz.de/10008727302
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Income Inequality, Capitalism and Ethno-Linguistic Fractionalization
Sturm, Jan-Egbert; Haan, Jakob de - CESifo - 2015
We examine the relationship between capitalism and income inequality for a large sample of countries using an adjusted economic freedom index as proxy for capitalism and Gini coefficients based on gross-income as proxy for income inequality. Our results suggest that there is no robust...
Persistent link: https://www.econbiz.de/10011124890
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Contingent Trade Policy and Economic Efficiency
McCalman, Phillip; Stähler, Frank; Willmann, Gerald - CESifo - 2011
This paper develops an efficiency theory of contingent trade policies. We model the competition for a domestic market … contingent trade policy on efficiency grounds. Contingent trade policy that seeks to maximize global welfare can avoid the …
Persistent link: https://www.econbiz.de/10009020091
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Simultaneous Search and Network Efficiency
Gautier, Pieter A.; Holzner, Christian - CESifo - 2011
When workers send applications to vacancies they create a network. Frictions arise if workers do not know where other workers apply to (this affects network creation) and firms do not know which candidates other firms consider (this affects network clearing). We show that those frictions and the...
Persistent link: https://www.econbiz.de/10009221551
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Household Formation and Markets
Gersbach, Hans; Haller, Hans; Konishi, Hideo - CESifo - 2013
We consider competitive markets for multiple commodities with endogenous formation of one- or two-person households. Within each two-person household, externalities from the partner’s commodity consumption and unpriced actions are allowed. Each individual has two types of traits: observable...
Persistent link: https://www.econbiz.de/10010698700
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Incentives to Work and Performance in the Public Sector
Economides, George; Philippopoulos, Apostolis; … - CESifo - 2015
productive efficiency, in the public sector. We focus on reforms aiming to establish parity between work conditions in the public …
Persistent link: https://www.econbiz.de/10011163067
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Efficiency Gains by Modifying GMM Estimation in Linear Models under Heteroskedasticity
Kiviet, Jan Frederik; Feng, Qu - CESifo - 2014
(MGMM), exploiting straight-forward modifications of the instruments, can achieve substantial efficiency gains and bias …
Persistent link: https://www.econbiz.de/10011086451
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A Look Upstream: Electricity Market Restructuring, Risk, Procurement Contracts and Efficiency
Maria, Corrado Di; Lange, Ian A.; Lazarova, Emiliya - CESifo - 2014
investigate the impact this change in procurement contracts has on efficiency. Focusing on coal mines, we find that those selling …
Persistent link: https://www.econbiz.de/10011099762
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Efficiency and Environmental Impacts of Electricity Restructuring on Coal-Fired Power Plants
Chan, H. Ron; Fell, Harrison; Lange, Ian A.; Li, Shanjun - CESifo - 2013
We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area … estimation compares how investor-owned (IOs) plants in states with restructuring changed their behavior relative to IOs in states … without. Our analysis finds that restructuring led to: (1) a two percent improvement in fuel efficiency for IOs, (2) a ten …
Persistent link: https://www.econbiz.de/10010631776