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Haeringer, Guillaume; Bade, Sophie; Renou, Ludovic - Fondazione ENI Enrico Mattei (FEEM) - 2006

(i.e., step by step commitment) does not change the set of implementable profiles. …

Persistent link: https://www.econbiz.de/10005385463

Saving Rate Dynamics in the Neoclassical Growth Model – Hyperbolic Discounting and Observational Equivalence

Farzin, Y. Hossein; Wendner, Ronald - Fondazione ENI Enrico Mattei (FEEM) - 2013

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country’s saving rate exhibits a rising or non-monotonic pattern. In important...

Persistent link: https://www.econbiz.de/10010665512

Auction Design without Commitment

Vartiainen, Hannu - Fondazione ENI Enrico Mattei (FEEM) - 2003

We study auction design when parties cannot commit themselves to the mechanism. The seller may change the rules of the game and the buyers choose their outside option at all stages. We assume that the seller has a leading role in equilibrium selection at any stage of the game. Stationary...

Persistent link: https://www.econbiz.de/10005570289

Adaptive Policy Mechanisms for Transboundary Air Pollution Regulation: Reasons and Recommendations

Kelly, J. Andrew; Vollebergh, Herman R.J. - Fondazione ENI Enrico Mattei (FEEM) - 2012

In the context of transboundary air pollution policy the broad ambition is to achieve reductions in the level of environmental and societal damage associated with certain pollutant concentrations and exposure rates in a cost effective manner. Policy formulation and legislative frameworks in this...

Persistent link: https://www.econbiz.de/10010833926

Flexible Waste Management under Uncertainty

Corato, Luca Di; Montinari, Natalia - Fondazione ENI Enrico Mattei (FEEM) - 2013

In this paper, we use stochastic dynamic programming to model the choice of a municipality which has to design an optimal waste management program under uncertainty about the price of recyclables in the secondary market. The municipality can, by undertaking an irreversible investment, adopt a...

Persistent link: https://www.econbiz.de/10010833944

Investing in Biogas: Timing, Technological Choice and the Value of Flexibility from Inputs Mix

Moretto, Michele; Corato, Luca Di - Fondazione ENI Enrico Mattei (FEEM) - 2009

flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved …

Persistent link: https://www.econbiz.de/10008502095

Vertical Integration and Operational Flexibility

Moretto, Michele; Rossini, Gianpaolo - Fondazione ENI Enrico Mattei (FEEM) - 2008

The main aim of the paper is to highlight the relation between flexibility and vertical integration. To this purpose … dynamic uncertain environment. The enterprise we model enjoys flexibility since it can switch from a certain amount of … produce all inputs even when it buys them in the market. This sort of flexibility makes for results which are somehow contrary …

Persistent link: https://www.econbiz.de/10005423238

The Oil-Based Economies International Research Project. The Case of Iran

Verdinejad, Fereydoun; Gorji, Yasaman - Fondazione ENI Enrico Mattei (FEEM) - 2010

In order to activate the cycle of wealth production, promote social justice and eliminate poverty and inequality, developing countries are currently faced with a multiplicity of structural problems. According to some economic theories, this is mainly due to inefficient or lack of access to...

Persistent link: https://www.econbiz.de/10008465543

Political Persistence, Connections and Economic Growth

Bellettini, Giorgio; Ceroni, Carlotta Berti; Prarolo, … - Fondazione ENI Enrico Mattei (FEEM) - 2009

Using data on a panel of 56 democratic countries in the period 1975-2004, we find evidence of a negative association between political stability and economic growth which is stronger and empirically more robust in countries with high bureaucratic costs. Motivated by these results, which contrast...

Persistent link: https://www.econbiz.de/10008502103

Firm Heterogeneity, Contract Enforcement, and the Industry Dynamics of Offshoring

Ottaviano, Gianmarco I.P.; Naghavi, Alireza - Fondazione ENI Enrico Mattei (FEEM) - 2009

We develop an endogenous growth model to study the long run consequences of offshoring with firm heterogeneity and incomplete contracts. In so doing, we model offshoring as the geographical fragmentation of a firm’s production chain between a home upstream division and a foreign downstream...

Persistent link: https://www.econbiz.de/10004987239