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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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Households, Markets and Public Choice
Gersbach, Hans; Haller, Hans - CESifo - 2014
We develop a model that combines competitive exchange of private commodities across endogenously formed groups with public good provision and global collective decisions. There is a tension between local and global collective decisions. In particular, we show that group formation and collective...
Persistent link: https://www.econbiz.de/10010889986
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The Cost of Migrating to a Culturally Different Location
Falck, Oliver; Lameli, Alfred; Ruhose, Jens - CESifo - 2014
Ever since Sjaastad (1962), researchers have struggled to quantify the psychic cost of migration. We monetize psychic cost as the wage premium for moving to a culturally different location. We combine administrative social security panel data with a proxy for cultural difference based on...
Persistent link: https://www.econbiz.de/10010948845
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Reaching Market Equilibrium Merely by Bilateral Barters
Flåm, Sjur Didrik - CESifo - 2013
Motivated by emission and resource markets, this paper considers repeated, bilateral barters between owners of commodity bundles, contingent claims, or property rights. Focus is on feasible, voluntary exchanges, driven only by differences in substitution rates. No coordination is ever needed....
Persistent link: https://www.econbiz.de/10010721608
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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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Regional Inequality, Convergence, and its Determinants - A View from Outer Space
Lessmann, Christian; Seidel, André - CESifo - 2015
This paper provides a new data set of regional income inequalities within countries based on satellite nighttime light data. We first empirically study the relationship between luminosity data and regional incomes for those countries where regional income data are available. We subsequently use...
Persistent link: https://www.econbiz.de/10011272626
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Equilibrium Unemployment with Outsourcing under Labour Market Imperfections
Koskela, Erkki; Stenbacka, Rune - CESifo - 2007
We study the various consequences of and the incentives for outsourcing. We argue that the wage elasticity of labour demand increases as a function of the share of outsourcing, which is a result consistent with existing empirical research. Furthermore, we show that a production mode with a...
Persistent link: https://www.econbiz.de/10005094289
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Productivity and the Decision to Import and Export: Theory and Evidence
Kasahara, Hiroyuki; Lapham, Beverly - CESifo - 2008
aggregate productivity, resource allocation, and industry export activity along both the extensive and intensive margins. Using … productivity and shipping costs using Chilean plant-level data for a set of manufacturing industries. The estimated model is … consistent with the key features of the data regarding productivity, exporting, and importing. We perform a variety of …
Persistent link: https://www.econbiz.de/10005094369