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Intertemporal Utility with Heterogeneous Goods and Constant Elasticity of Substitution
Quaas, Martin - 2020
We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of substitution between goods at each point in time and (ii) a constant intertemporal elasticity of substitution for at least one of the goods. We find that a standard (stationary)...
Persistent link: https://www.econbiz.de/10012844425
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The (In)Elasticity of Moral Ignorance
Serra-Garcia, Marta - 2020
Ignorance enables individuals to act immorally. This is well known in policy circles, where there is keen interest in lowering moral ignorance. In this paper, we study the (in)elasticity of moral ignorance, with respect to monetary incentives, social norms messages and moral context. We propose...
Persistent link: https://www.econbiz.de/10012849807
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On the Elasticity of Substitution between Labor and ICT and IP Capital and Traditional Capital
Jerbashian, Vahagn - 2022
I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...
Persistent link: https://www.econbiz.de/10014243755
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Factor substitution, income distribution, and growth in a generalized neoclassical model
Irmen, Andreas; Klump, Rainer - 2007
We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...
Persistent link: https://www.econbiz.de/10010264251
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Native welfare losses from high skilled immigration
Kemnitz, Alexander - 2008
This paper explores the effects of high skilled immigration to a host country with unionized low skilled labor and an unemployment insurance scheme. We show that such immigration can create a negative immigration surplus due to adverse effects on low skilled employment, provided that fiscal...
Persistent link: https://www.econbiz.de/10010264446
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Steady-state growth and the elasticity of substitution
Irmen, Andreas - 2010
In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10010266084
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Multinational Production and Global Shock Propagation During the Great Recession
Li, Haishi - 2023
Did multinational production (MP) exacerbate or mitigate the collapse of international trade during the Great Recession …? What role did MP and trade links play in propagating economic shocks across countries? I resolve the “Multinationals … percentage of GDP at the global level. To understand the sources of MP and trade collapse, I build a model of MP, trade, and …
Persistent link: https://www.econbiz.de/10014358332
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Barriers to Global Capital Allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain T. - 2021
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...
Persistent link: https://www.econbiz.de/10013226659
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Federalism and Foreign Direct Investment - An Empirical Analysis
Feld, Lars P.; Koehler, Ekkehard A.; Palhuca, Leonardo; … - 2021
Previous empirical studies suggest that decentralization, measured by the number of government layers, is associated with less foreign direct investment (FDI). With an improved dataset on tax autonomy of sub-federal government tiers, we present evidence that fiscal decentralization (de facto)...
Persistent link: https://www.econbiz.de/10013224081
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Profit Shifting in the EU : Evidence from Germany
Weichenrieder, Alfons J. - 2021
The paper considers profit shifting behavior using data on German inbound and outbound FDI. It finds an empirical correlation between the home country tax rate of a parent and the net of tax profitability of its German affiliate that is consistent with profit shifting behavior. For profitable...
Persistent link: https://www.econbiz.de/10013316976