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The Social Cost of Carbon and the Ramsey Rule

Withagen, Cees - 2019

The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...

Persistent link: https://www.econbiz.de/10012892228

The Global Effects of COVID-19-Induced Uncertainty

Caggiano, Giovanni - 2020

We estimate a three-variate VAR using proxies of global financial uncertainty, the global financial cycle, and world industrial production to simulate the effects of the jump in financial uncertainty observed in correspondence of the Covid-19 outbreak. We predict the cumulative loss in world...

Persistent link: https://www.econbiz.de/10012834352

The Social Cost of Carbon with Intragenerational Inequality Under Economic Uncertainty

van der Ploeg, Rick; Emmerling, Johannes; Groom, Ben - 2022

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …

Persistent link: https://www.econbiz.de/10014082790

Nice guys finish last: Are people with higher tax morale taxed more heavily?

2012

This paper provides evidence of efficient taxation of groups with heterogeneous levels of tax morale. We set up an optimal income tax model where high tax morale implies a high subjective cost of evading taxes. The model predicts that nice guys finish last: groups with higher tax morale will be...

Persistent link: https://www.econbiz.de/10010283584

Pensions, Income Taxes and Homeownership : A Cross-Country Analysis

Fehr, Hans; Hofmann, Maurice; Kudrna, George - 2021

This paper studies the role of pensions and income taxes in determining homeownership and household wealth. It provides a cross-country analysis, using tax and pension policy designs in Germany, the US and Australia. These developed nations have similar incomes per capita but very different...

Persistent link: https://www.econbiz.de/10013216249

Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?

Schnabl, Gunther - 2019

for the future (global savings glut). Low growth is linked to slowing population growth and a declining marginal …, from the perspective of Austrian business cycle theory, interest rates were step by step decreased by central banks to … nihilo and the need of time to produce capital invalidates the IS identity assumed in the Keynesian theory to hold …

Persistent link: https://www.econbiz.de/10012858697

Economic Policy Uncertainty : Persistence and Cross-Country Linkages

Aikins Abakah, Emmanuel Joel - 2020

This paper provides new evidence on the stochastic behaviour of the EPU (Economic Policy Uncertainty (EPU) index constructed by Baker et al. (2016) in six of the biggest economies (Canada, France, Japan, US, Ireland, and Sweden) over the period from January 1985 to October 2019. In particular,...

Persistent link: https://www.econbiz.de/10012833734

Uncertainty and Monetary Policy During Extreme Events

Pellegrino, Giovanni - 2020

How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real activity to a financial uncertainty shock during...

Persistent link: https://www.econbiz.de/10012822498

Market-Based Monetary Policy Uncertainty

Bauer, Michael - 2019

This paper investigates the role of monetary policy uncertainty for the transmission of FOMC actions to financial markets using a novel model-free measure of uncertainty based on derivative prices. We document a systematic pattern in monetary policy uncertainty over the course of the FOMC...

Persistent link: https://www.econbiz.de/10012871021

Economic Uncertainty and Fertility

Gozgor, Giray; Bilgin, Mehmet; Rangazas, Peter - 2021

suggested by theory. This evidence is robust to different model specifications and econometric techniques as well as to the …

Persistent link: https://www.econbiz.de/10013231969

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