Processes of regional economic integration have been shaping the economic relations between countries significantly during the last decades. In addition, an increasing integration of the national economies into the global economy has affected these economic relations, too. In an effort to...

This article explores the influence of competitive conditions on the evolutionary fitness of risk preferences, using the professional competition between fund managers as a practical example. To explore how different settings of competition parameters, the exclusion rate and the exclusion...

Deflation is said to dampen aggregate demand because consumers would defer purchases while waiting for prices to fall further in the future. We explore the validity of this reasoning at the level of individual goods. Our findings suggest that the widespread concerns about impaired aggregate...

According to household production function theory households combine marketed goods and nonmarket environmental goods to produce service flows of direct value to the household. This readily explains why, as an input to household production activities, households might have preferences over the...

This paper examines the empirical relevance of the double dividend of revenue neutral marginal environmental tax reforms. For this purpose we use an extended version of the Ahmad-Stern model of indirect taxation. This version includes environmental externalities. We estimate the key parameters...

Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...

Employing a unique dataset that covers households from six West African capitals, this paper provides new evidence on the demand for informal sector products and services. We first investigate whether demand linkages exist between formal and informal products and distribution channels, and...

Employing a unique dataset that covers households from six West African capitals, this paper provides new evidence on the demand for informal sector products and services. We first investigate whether demand linkages exist between formal and informal products and distribution channels, and...

In Great Britain several policy measures have been implemented in order to increase energy efficiency and to reduce carbon emissions. In the domestic sector, these targets can be achieved by improving space heating efficiency and, hence, decrease heating expenditures. However, before...