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Assessing the Efficiency of an Insurance Provider - A Measurement Error Approach

Jametti, Mario; von Ungern-Sternberg, Thomas - 2003

The purpose of this paper is to compare the cost efficiency of private and public property insurance providers in … measurement errors and apply the model to a data set on 19 firms in housing insurance markets in Switzerland. We show that the … public insurance providers are about 20 per cent more cost efficient than their private counterparts. …

Persistent link: https://www.econbiz.de/10010315676

Compliance Technology and Self-Enforcing Agreements

Harstad, Bård; Lancia, Francesco; Russo, Alessia - 2015

We analyze a repeated game in which countries are polluting as well as investing in technologies. While folk theorems point out that the first best can be sustained as a subgame-perfect equilibrium when the players are sufficiently patient, we derive the second best equilibrium when they are...

Persistent link: https://www.econbiz.de/10011388236

Prices versus Quantities Reassessed

Karp, Larry S.; Traeger, Christian P. - 2018

“Prices versus quantities” (Weitzman 1974), a hugely influential paper, is widely cited (and taught) in current debates about the best policy to reduce greenhouse gas emissions. The paper’s criterion for ranking policies suggests that technological uncertainty favors taxes over cap and...

Persistent link: https://www.econbiz.de/10011932081

Policies and Instruments for Self-Enforcing Treaties

Harstad, Bård; Lancia, Francesco; Russo, Alessia - 2020

We characterize the optimal policy and policy instruments for self-enforcing treaties when countries invest in green technology before they pollute. If the discount factor is too small to support the ﬁrst best, then both emissions and investments will be larger than in the ﬁrst best, when...

Persistent link: https://www.econbiz.de/10012269530

Designing Instrument Packages for the Low-Carbon Transition: An Evaluation Framework with an Application to Austria

van der Werf, Edwin; Vollebergh, Herman R. J.; Vogel, … - 2021

Limiting global warming to no more than 2°C requires global large-scale deployment of low-carbon and negative emissions technologies. This requires the development of new eco-innovations and the diffusion of new and existing ones. Existing portfolios of environmental and technology policy...

Persistent link: https://www.econbiz.de/10012657898

Asset Pricing and the Carbon Beta of Externalities

Edenhofer, Ottmar; Lessmann, Kai; Tahri, Ibrahim - 2021

Climate policy needs to set incentives for actors who face imperfect, distorted markets and large uncertainties about the costs and benefits of abatement. Investors price uncertain assets according to their expected return and risk (carbon beta). We study carbon pricing and financial incentives...

Persistent link: https://www.econbiz.de/10012657975

Hospital competition with soft budgets

Brekke, Kurt R.; Siciliani, Luigi; Straume, Odd Rune - 2013

We study the incentives for hospitals to provide quality and expend cost-reducing effort when their budgets are soft, i.e., the payer may cover deficits or confiscate surpluses. The basic set up is a Hotelling model with two hospitals that differ in location and face demand uncertainty, where...

Persistent link: https://www.econbiz.de/10010291512

Redistribution and Insurance with Simple Tax Instruments

Findeisen, Sebastian; Sachs, Dominik - 2015

provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

Persistent link: https://www.econbiz.de/10011307074

Buffer-Stock Saving and Households' Response to Income Shocks

Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2016

contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …

Persistent link: https://www.econbiz.de/10011555586

Non-cooperative and Cooperative Policy Reforms under Uncertainty and Spillovers

Hefeker, Carsten; Neugart, Michael - 2017

When countries need to implement costly economic policy reforms, these often imply uncertainties about their effectiveness for the home country and their spillovers to other countries. We develop a model to show that under these circumstances countries implement too few or too many policy...

Persistent link: https://www.econbiz.de/10011615884