Similar Search Results

Implicit Microfoundations for Macroeconomics

Wright, Ian - Institut für Weltwirtschaft (IfW) - 2008

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The implicit microfoundations' approach assumes this property of micro-level interactions more strongly conditions macro-level outcomes compared to the precise details of individual choice behavior;...

Persistent link: https://www.econbiz.de/10005083360

Tax competition and determination of the quality of public goods

Abdessalam, A. H. Ould; Kamwa, Eric - Institut für Weltwirtschaft (IfW) - 2013

In this paper, the authors analyze the behavior of local governments on capital taxation when the financial choices in terms of a public good quality are done by a central planner. More specifically, they ask the question whether a local government has an interest to tax the mobile factor in...

Persistent link: https://www.econbiz.de/10010956100

Selfish-biased conditional cooperation: On the decline of contributions in repeated public goods experiments

Neugebauer, Tibor; Perote, Javier; Schmidt, Ulrich; … - Institut für Weltwirtschaft (IfW) - 2007

In the recent literature, several hypotheses have been put forward in order to explain the decline of contributions in repeated public good games. We present results of an experiment which allows to evaluate these hypotheses. The main characteristics of our experimental design are a variation of...

Persistent link: https://www.econbiz.de/10005818877

The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory

Aoki, Masanao; Yoshikawa, Hiroshi - Institut für Weltwirtschaft (IfW) - 2008

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor is equal across firms and industries. However, productivity dispersion is widely observed in the real economy. Search theory allegedly fills this gap by encompassing apparent...

Persistent link: https://www.econbiz.de/10005083417

Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures

Hawkins, Raymond; Aoki, Masanao - Institut für Weltwirtschaft (IfW) - 2008

We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model construction that preserves the heterogeneity and complex...

Persistent link: https://www.econbiz.de/10005097460

A Note on Aoki-Yoshikawa Model

Scalas, Enrico; Garibaldi, Ubaldo - Institut für Weltwirtschaft (IfW) - 2008

In this paper, we explore a dynamical version of by Aoki and Yoshikawa model (AYM) for an economy driven by demand. We show that when an appropriate Markovian dynamics is taken into account, AYM has di¤erent equilibrium distributions depending on the form of transition probabilities. In the...

Persistent link: https://www.econbiz.de/10005097476

Monopoly innovation and welfare effects

Yao, Shuntian; Gan, Lydia - Institut für Weltwirtschaft (IfW) - 2010

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater detail. We discover that technical innovation carried out...

Persistent link: https://www.econbiz.de/10008615595

Minority Voting and Public Project Provision

Gersbach, Hans - Institut für Weltwirtschaft (IfW) - 2007

We propose a two-stage process called minority voting to allocate public projects in a polity. In the first period, a society decides by a simple majority decision whether to provide the public project. If the proposal in the first period is rejected, the process ends. Otherwise the process...

Persistent link: https://www.econbiz.de/10005083379

Optimal transfer policies

Stähler, Frank - Institut für Weltwirtschaft (IfW) - 1995

This paper discusses the role of transfers in a non-cooperative environment. If reselling in-kind-transfers involves … some retrading costs, in-kind transfers are supposed to realise at least some of the mutual bargaining gains which would be … transfers in general because income effects can leave some scope for monetary transfers. The results of the model are discussed …

Persistent link: https://www.econbiz.de/10009276220

Interjurisdictional competition and the efficiency of the public sector: The triumph of the market over the state?

Rauscher, Michael - Institut für Weltwirtschaft (IfW) - 1996

It has been argued in the literature that, interjurisdictional competition forces the public sector to increase its efficiency and thus helps to tame Leviathan governments. The paper addresses this hypothesis by means of a simple taxcompetition model with a Leviathan state. It is seen that the...

Persistent link: https://www.econbiz.de/10009276585