Showing 1 - 10 of 56
We build a two-sector dynamic general equilibrium model with one-sided substitutability between fossil carbon and biocarbon. One shock only, the discovery of the technology to use fossil fuels, leads to a transition from an initial pre-industrial phase to three following phases: a pure fossil...
Persistent link: https://www.econbiz.de/10010877924
This paper is concerned with the apparent change in the U.S. oil price-macroeconomy relationship. It is investigated to what extent this change can be accounted for by the large oil price surges witnessed in the 1970s. The innovative approach of rolling impulse responses is applied and both the...
Persistent link: https://www.econbiz.de/10005013074
This paper is concerned with the statistical behavior of oil prices in two ways. It, firstly, applies a combined jump GARCH in order to characterize the behavior of daily, weekly as well as monthly oil prices. Secondly, it relates its empirical results to implications of Hotelling-type resource...
Persistent link: https://www.econbiz.de/10009371347
-being on health use identification strategies involving income increases; these studies as well as prior research on stock …
Persistent link: https://www.econbiz.de/10010877960
. In US election survey data, we find that income is more important in affecting voting behavior for more informed voters … strong correlation between income and political information, Congress representatives vote more conservatively, which is also …
Persistent link: https://www.econbiz.de/10009324089
This paper assesses the relationship between institutions, output, and productivity, when official output is corrected for the size of the shadow economy. Our results confirm the usual positive impact of institutional quality on official output and total factor productivity, and its negative...
Persistent link: https://www.econbiz.de/10005094186
attention in the literature on optimal income taxation. This paper offers a simple and transparent analysis of its main …
Persistent link: https://www.econbiz.de/10005181304
We investigate the evolution of global welfare in two dimensions: income per capita and life expectancy. First, we … estimate the marginal distributions of income and life expectancy separately. More importantly, in contrast to previous … univariate approaches, we consider income and life expectancy jointly and estimate their bivariate global distribution for 137 …
Persistent link: https://www.econbiz.de/10005196304
The question of whether there is a connection between income and psychological well-being is a long-studied issue … higher levels of income later in life. We focus on earnings approximately one decade after the person’s well-being is … happiness. We consider how psychological well-being may influence income. Sobel-Goodman mediation tests reveal direct and …
Persistent link: https://www.econbiz.de/10010595387
compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is …
Persistent link: https://www.econbiz.de/10010877720