Showing 1 - 10 of 7,832
Amidst the recent resurgence of inflation, this paper investigates the interplay of corporate profits and income distribution in shaping inflation and aggregate demand within the New Keynesian framework. We derive a novel analytical condition for profits to be procyclical and inflationary....
Persistent link: https://www.econbiz.de/10014337850
A subset of harm reduction strategies encourages individuals to switch from a harmful addictive good to a less harmful addictive good; examples include e-cigarettes (substitutes for combustible cigarettes) and methadone and buprenorphine (substitutes for opioids). Such harm reduction methods have...
Persistent link: https://www.econbiz.de/10014226123
We provide a method to measure welfare, in money-metric terms, taking into account expectations about the future. Our two key assumptions are that (1) the expenditure function is separable between the present and the future, and (2) there are some households that do not face idiosyncratic...
Persistent link: https://www.econbiz.de/10014576596
This is a critique of an article of M. Fahim Khan pulished in an earlier issue of the same journal It argues that in other economic systems including capitalism too play an important role to mitigate the hardships of the poor but unlike the Islamic system they do not show their impact on income...
Persistent link: https://www.econbiz.de/10005835390
In this paper I will analyse the redistribution of income amongst n generations using the Single-mindedness Theory. I will introduce a new expression for the balanced-budget constraint, no longer based on lump- sum transfers as in the traditional literature, but rather on more realistic labour...
Persistent link: https://www.econbiz.de/10005835397
This paper studies the implications of consumer reference dependence in market competition. If consumers take some product (e.g., the first product they have considered) as the reference point in evaluating others and exhibit loss aversion, then the more "prominent" firm whose product is taken...
Persistent link: https://www.econbiz.de/10005835628
This paper investigates the impact of a 'free drug program' on the market equilibrium of drugs. We introduce a screening model of the hard drug market in which dealers use payment and punishment options to screen between high and low risk users. We show that, if a free drug program selects...
Persistent link: https://www.econbiz.de/10005836044
"Exit, Voice, and Loyalty" (A.O. Hirschman 1970) is a theoretical concept derived from the work of Albert O. Hirschman (1970) which is focused on two essential options in organizatios and products decline, being "exit" and "voice".The basis concept is as follows: members of an organization,...
Persistent link: https://www.econbiz.de/10005836166
We re-examine the case for uniform pricing in a monopolistic third-degree price-discrimination setting by introducing differentiated costs. A profit-maximizing monopolist could then use price differentiation to reduce the production of the more costly goods, thereby decreasing average cost and...
Persistent link: https://www.econbiz.de/10005836215
Does the Internet provide a failsafe against media consolidation in the wake of an easing of media ownership rules? This paper posits a model of news outlet selection on the Internet in which consumers experience cognitive costs that increase with the number of options faced. Consistent with...
Persistent link: https://www.econbiz.de/10005836224