Narrow search
Showing 1 - 10 of 1,858
Cover Image
Investment Under Rational Inattention : Evidence from US Sectoral Data
Zorn, Peter - 2020
Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The response to macroeconomic shocks is hump-shaped, just as in aggregate data. The effects of sectoral innovations decrease monotonically. A calibrated model of investment with...
Persistent link: https://www.econbiz.de/10012827670
Cover Image
A Congestion Theory of Unemployment Fluctuations
Mercan, Yusuf; Schoefer, Benjamin; Sedlacek, Petr - 2021
finding jobs expands. On net, unemployment rises only becauseeven more workers lose their jobs. We propose a theory of …
Persistent link: https://www.econbiz.de/10013314859
Cover Image
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
Cover Image
Product market competition, profit sharing and equilibrium unemployment
Koskela, Erkki; Stenbacka, Rune - 2005
We investigate the implications of product market imperfections on profit sharing, wage negotiation and equilibrium unemployment. The optimal profit share, which the firms use as a wage-moderating commitment device, is below the bargaining power of the trade union. Intensified product market...
Persistent link: https://www.econbiz.de/10010261374
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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