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An Equilibrium Theory of Nominal Exchange Rates
Hagedorn, Marcus - 2021
This paper proposes an equilibrium theory of nominal exchange rates, which offers a new perspective on various issues … features of this theory are that the nominal exchange rate is determined in international financial markets, that the risk … from the nominal exchange rate. In terms of policy, this novel theory implies that a country with an exchange rate peg and …
Persistent link: https://www.econbiz.de/10013212261
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Adding geography to the new economic geography
Bosker, E. Maarten; Brakman, Steven; Garretsen, Harry; … - 2007
For reasons of analytical tractability, new economic geography (NEG) models treat geography in a very simple way: attention is either confined to a simple 2-region or to an equidistant multi-region world. As a result, the main predictions regarding the impact of e.g. diminishing trade costs are...
Persistent link: https://www.econbiz.de/10010271844
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International antitrust enforcement and multi-market contact
Choi, Jay Pil; Gerlach, Heiko A. - 2009
This paper analyzes international antitrust enforcement when multinational firms operate in several markets with antitrust authorities in each market. We are concerned with how the sustainability of collusion in one local market is affected by the existence of collusion in other markets when...
Persistent link: https://www.econbiz.de/10010274002
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Even small trade costs restore efficiency in tax competition
Becker, Johannes; Runkel, Marco - 2010
We introduce transport cost of trade in products into the classical Zodrow and Mieszkowski (1986) model of capital tax competition. It turns out that even small levels of transport cost lead to a complete breakdown of the seminal result, the underprovision of public goods. Instead, there is a...
Persistent link: https://www.econbiz.de/10010274798
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Justifying the Lindahl solution as an outcome of fair cooperation
Buchholz, Wolfgang; Peters, Wolfgang - 2005
The Lindahl equilibrium is mostly motivated by a rather artificial price mechanism. Even though the analogy to a competitive market has been emphasised by Lindahl himself his approach does not directly explain the normative ideas, which are behind this concept. In the present paper we therefore...
Persistent link: https://www.econbiz.de/10010261328
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Impatience and Uncertainty : Experimental Decisions Predict Adolescents' Field Behavior
Sutter, Matthias - 2011
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of...
Persistent link: https://www.econbiz.de/10013118350
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Workforce or Workfare?
Brett, Craig - 2011
This article explores the use of workfare as part of an optimal tax mix when labor supply responses are along the extensive margin. Particular attention is paid to the interaction between workfare and an earned income tax credit, two policies that are designed to provide additional incentives...
Persistent link: https://www.econbiz.de/10013124395
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Fixed-Term and Permanent Employment Contracts : Theory and Evidence
Cao, Shutao - 2014
This paper constructs a theory of the coexistence of fixed-term and permanent employment contracts in an environment …
Persistent link: https://www.econbiz.de/10013069444
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The (Structural) Gravity of Epidemics
Cuñat, Alejandro - 2020
Epidemiological models assume gravity-like interactions of individuals across space without microfoundations. We combine a simple epidemiological frame-work with a dynamic model of individual location choice. The model predicts that flows of people across space obey a structural gravity...
Persistent link: https://www.econbiz.de/10012833717
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The Tradeoff between Indirect Network Effects and Product Differentiation in a Decarbonized Transport Market
Andreassen, Gøril L. - 2020
What factors determine whether it is optimal with one or more technologies in a decarbonized road transport sector, and what policies should governments choose? We investigate these questions theoretically and numerically through a static, partial equilibrium model for the road transport market....
Persistent link: https://www.econbiz.de/10012833722