Showing 1 - 10 of 28
Distributional dominance criteria are commonly applied to draw welfare in- ferences about comparisons, but conclusions drawn from empirical imple- mentations of dominance criteria may be inßuenced by data contamination. We examine a non-parametric approach to reÞning Lorenz-type comparisons...
Persistent link: https://www.econbiz.de/10011071290
Inequality measures are powerful tools of applied welfare analysis. However, to use the tools effectively one has to take into account the characteristics of the data with which one usually has to work. These raise a number of common statistical problems which are addressed here for both...
Persistent link: https://www.econbiz.de/10010745474
This paper proposes a general way to conceive public policy when there is no consensual account of the situation of interest. The approach builds on an extension and dual formulation of the traditional theory of economic policy. It does not need a representative policymaker’s utility function...
Persistent link: https://www.econbiz.de/10010745638
Drawing on recent work concerning the statistical robustness of inequality statistics we examine the sensitivity of … have fundamentally different robustness properties, and demonstrate that an imporrtant commonly used subclass of poverty …
Persistent link: https://www.econbiz.de/10010745913
This paper addresses the question of how to invest in a robust growth-optimal way in a market where the instantaneous expected return of the underlying process is unknown. The optimal investment strategy is identified using a generalized version of the principal eigenfunction for an elliptic...
Persistent link: https://www.econbiz.de/10010745927
Persistent link: https://www.econbiz.de/10010746175
We examine the sensitivity of estimates and inequality indices to extreme values, in the sense of their robustness …
Persistent link: https://www.econbiz.de/10010746459
ideological divide, the US seems destined to heightened levels of policy uncertainty for many years to come. Some research … suggests that such uncertainty, particularly over economic policy, partly explains the sluggish nature of the recovery in … America – and - according to one recent study, restoring policy uncertainty to levels that prevailed before the financial …
Persistent link: https://www.econbiz.de/10011125919
We survey the theoretical and empirical literature on decentralization within firms. We first discuss how the concept of incomplete contracts shapes our views about the organization of decision-making within firms. We then overview the empirical evidence on the determinants of decentralization...
Persistent link: https://www.econbiz.de/10011126085
, emission reductions accounting contains substantial uncertainty as a result of forest carbon stock estimates, where the … 63% in moist forest and 58% in dry forest. Combining forest carbon stock estimates and uncertainty in voluntary carbon … market prices demonstrates the financial impact of uncertainty: potential revenues over the 20-year project ranged between US …
Persistent link: https://www.econbiz.de/10011126253