Showing 1 - 10 of 53
exhibit a too high fertility rate. Furthemore, when health is introduced as another source of externalities, the model shows … that health expenditures have not always to be subsidized. Indeed, the taxation of births plays the role of an indirect … subsidy on health expenditures because it decreases the cost of health relatively to the cost of the quantity of children …
Persistent link: https://www.econbiz.de/10010750938
The paper develops a simple model on the asymmetric role of credit markets in output fluctuations. When credit markets are underdeveloped and enterprise activity is financed by trade credit, shocks may induce a break-up of credit and production chains, leading to sudden and sharp contractions....
Persistent link: https://www.econbiz.de/10010549101
, separating episodes of crises from those of growth. Performance is measured by the output response following recessions, rather … than average rates of growth that aggregate periods of recessions and periods of growth. Results highlight significant … performance following the so-called "transitional recession" from that of "normal recessions", the analysis allows separating the …
Persistent link: https://www.econbiz.de/10010549103
Persistent link: https://www.econbiz.de/10009401085
We provide a general theorem on the aggregation of preferences under uncertainty. We study, in the Anscombe …-dependent versions of these models). We prove that aggregation is possible and necessarily linear if (society's) preferences are "smooth … possibility of aggregation of non-smooth preferences. …
Persistent link: https://www.econbiz.de/10010750424
. In this paper we consider the three classes of choice functionssatisfying the three significant axioms called heredity (H), concordance (C) and outcast (O). We show that the set of choice functions satisfying any one of these axioms is a lattice, and we study the properties of these lattices....
Persistent link: https://www.econbiz.de/10010750440
The paper addresses the problem of extending aggregation operators typically defined on $[0,1]$ to the symmetric … interval $[-1,1]$, where the ``0'' value plays a particular role (neutral value). We distinguish the cases where aggregation … using an interpolation approach, supposing the value of the aggregation to be known for ternary vectors. …
Persistent link: https://www.econbiz.de/10010750530
that aggregation is possible and necessarily linear if and only if (society's) preferences are uncertainty neutral. The … number of ways to restore the possibility of aggregation are then discussed. …
Persistent link: https://www.econbiz.de/10010750533
The issue of technological unemployment receives perennial popular attention. Although there are previous empirical investigations that have focused on the relationship between innovation and employment, the originality of our approach lies in our choice of method. We focus on four 2-digit...
Persistent link: https://www.econbiz.de/10010750726
for the consensus problems, in particular in the case of the aggregation of linear orders. First we consider the medians …
Persistent link: https://www.econbiz.de/10010738443