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Integrated Versus Segmented Markets : Implications for Export Pricing and Welfare
Becker, Raphael; Nigai, Sergey; Seidel, Tobias - 2021
This paper challenges the common assumption of market segmentation in international trade. To analyze export entry and pricing decisions of firms in integrated vs. segmented markets, we develop a novel tractable approach based on stochastic export costs that allows us to compare firm-level and...
Persistent link: https://www.econbiz.de/10013315233
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COVID-Induced School Closures in the US and Germany : Long-Term Distributional Effects
Fuchs-Schündeln, Nicola - 2022
dropped on average by -55% in the US and -45% in Germany from the onset of the crisis to the summer of 2021. In the US …, schools were closed longer in richer than in poorer areas, while in Germany the regional variation is much smaller. However …, Germany exhibited substantial variation by grade level, with a strong U-shaped patterns that implies that children attending …
Persistent link: https://www.econbiz.de/10013291960
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Shocks, Frictions, and Inequality in US Business Cycles
Bayer, Christian - 2020
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012841741
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Will Destination-Based Taxes Be Fully Exploited When Available? An Application to the U.S. Commodity Tax System
Agrawal, David R. - 2019
-level policies that increase tax avoidance opportunities, the results of the empirical model broadly confirm our theory …
Persistent link: https://www.econbiz.de/10012892221
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Non-Linearities and Persistence in US Long-Run Interest Rates
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; … - 2021
This note examines the stochastic behaviour of US monthly 10-year government bond yields. Specifically, it estimates a fractional integration model suitable to capture both persistence and non-linearities, these being two important properties of interest rates. Two series are analysed, one from...
Persistent link: https://www.econbiz.de/10013314848
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The Short and the Long of it : Stock-Flow Matching in the US Housing Market
Smith, Eric; Xie, Zoe; Fang, Lei - 2022
This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the viability of stock-flow matching in generating the observed outcomes. The paper documents that the probability a house sells declines sharply after listing for two weeks....
Persistent link: https://www.econbiz.de/10014243085
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To React or Not? Fiscal Policy, Volatility and Welfare in the EU-3
Malley, Jim - 2008
implications of countercyclical fiscal policy for France, Germany and the UK. The model incorporates real wage rigidity which is …
Persistent link: https://www.econbiz.de/10012773638
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Sales and Markup Dispersion : Theory and Empirics
Mrazova, Monika - 2019
We derive exact conditions relating the distributions of firm productivity, sales, output, and markups to the form of demand in monopolistic competition. Applications include a new “CREMR” demand function (Constant Revenue Elasticity of Marginal Revenue): it is necessary and sufficient for...
Persistent link: https://www.econbiz.de/10012892151
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Do Multinationals Transplant Their Business Model?
Marin, Dalia - 2019
theory of knowledge hierarchies in an industry equilibrium model of monopolistic competition to examine how the economic … test the theory with original and matched parent and affiliate data on the level of decentralization of 660 Austrian and …
Persistent link: https://www.econbiz.de/10012860290
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Optimal Carbon Taxation and Horizontal Equity : A Welfare-Theoretic Approach with Application to German Household Data
Hänsel, Martin C.; Franks, Max; Kalkuhl, Matthias; … - 2021
We develop a model of optimal carbon taxation and redistribution taking into account horizontal equity concerns by considering heterogeneous energy efficiencies. By deriving first- and secondbest rules for policy instruments including carbon taxes, transfers and energy subsidies, we then...
Persistent link: https://www.econbiz.de/10013239565