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Peitz, Martin; Rady, Sven; Trepper, Piers - 2015

We study optimal experimentation by a monopolistic platform in a two-sided market. The platform provider is uncertain about the strength of the externality each side is exerting on the other. Setting participation fees on both sides, it gradually learns about these externalities by observing...

Persistent link: https://www.econbiz.de/10010531813

Climate Change and Migration: A Dynamic Model

Mason, Charles F. - 2016

In this paper I explore a model where citizens of a country vulnerable to damages from climate change may migrate to a second country, from which a steady stream of greenhouse gases occur. If this migration imposes costs on the emitting country, then migration induces a sort of pseudo carbon...

Persistent link: https://www.econbiz.de/10011555590

Sinking Land: Optimal Control of Subsidence

Sen, Suphi; Verhoeven, Dewy; Weikard, Hans-Peter - 2023

Land subsidence threatens the living conditions of roughly 1.2 billion people worldwide in deltaic regions characterized by soft top soil. Economic activity in deltaic regions requires lowering the groundwater levels to keep the land sufficiently dry to maintain productivity, which, however,...

Persistent link: https://www.econbiz.de/10014469856

Optimal Fiscal Policy

Lukkezen, Jasper; Teulings, Coenraad N. - 2013

This paper derives and estimates rules for fiscal policy that prescribe the optimal response to changes in unemployment and debt. We combine the reduced-form model of the economy from a linear VAR with a non-linear welfare function and obtain analytic solutions for optimal policy. The variables...

Persistent link: https://www.econbiz.de/10010312862

Harvesting a Remote Renewable Resource

Upmann, Thorsten; Behringer, Stefan - 2017

In standard models of spatial harvesting, the resource is distributed over the complete domain and the agent is able to control the harvesting activity everywhere all the time. In some cases though, it is more realistic to assume that the resource is located at a single point in space and that...

Persistent link: https://www.econbiz.de/10011777589

Announcing is bad, delaying is worse: Another pitfall in well-intended climate policy

Jus, Darko; Meier, Volker - 2012

It is frequently observed that the implementation of green policies is delayed compared to the initial announcement. Considering a setting with a representative monopolist extracting a non-renewable resource, we demonstrate that announcing a green policy, but then delaying its implementation, is...

Persistent link: https://www.econbiz.de/10010283580

Lender of last resort and bank closure policy

Freixas, Xavier; Parigi, Bruno Maria - 2008

of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion …

Persistent link: https://www.econbiz.de/10010264351

Volatility spillovers and contagion from mature to emerging stock markets

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanismcontagionduring turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41 emerging...

Persistent link: https://www.econbiz.de/10010264556

Global and regional spillovers in emerging stock markets : a multivariate GARCH-in-mean analysis

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...

Persistent link: https://www.econbiz.de/10010265964

Stock market integration between three CEECs, Russia and the UK

Caporale, Guglielmo Maria; Spagnolo, Nicola - 2010

Russia. The adopted framework allows to analyse interdependence by estimating volatility spillovers, and also contagion by … evidence on possible changes in the transmission mechanism (namely, on whether there is contagion) can be obtained by examining … spillovers between the three CEECs considered and the UK (contagion). …

Persistent link: https://www.econbiz.de/10010270472