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The Social Cost of Carbon and the Ramsey Rule
Withagen, Cees - 2019
by prominent scholars. Second, to derive the optimal SCC one needs full knowledge of the entire future, in spite of the …
Persistent link: https://www.econbiz.de/10012892228
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Urban Specialisation; from Sectoral to Functional
Gervais, Antoine; Markusen, James R.; Venables, Anthony J. - 2021
combines elements of the literatures on economic geography, multinational firms, urban economics, and trade theory. A two …
Persistent link: https://www.econbiz.de/10013250045
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The consumption-based determinants of the term structure of discount rates
Gollier, Christian - 2005
The efficient rate of return of a zero-coupon bond with maturity t is determined by our expectations about the mean (+), variance (-) and skewness (+) of the growth of aggregate consumption between 0 and t. The shape of the yield curve is thus determined by how these moments vary with t. We...
Persistent link: https://www.econbiz.de/10010261120
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The life satisfaction approach to environmental valuation
Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - 2009
In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals’ well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...
Persistent link: https://www.econbiz.de/10010273798
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Expected net present value, expected net future value, and the Ramsey rule
Gollier, Christian - 2009
Weitzman (1998) showed that when future interest rates are uncertain, using the expected net present value implies a term structure of discount rates that is decreasing to the smallest possible interest rate. On the contrary, using the expected net future value criterion implies an increasing...
Persistent link: https://www.econbiz.de/10010274006
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How should the distant future be discounted when discount rates are uncertain?
Gollier, Christian; Weitzman, Martin L. - 2009
It is not immediately clear how to discount distant-future events, like climate change, when the distant-future discount rate itself is uncertain. The so-called Weitzman-Gollier puzzle is the fact that two seemingly symmetric and equally plausible ways of dealing with uncertain future discount...
Persistent link: https://www.econbiz.de/10010274007
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Public investment as commitment
Gerlagh, Reyer; Liski, Matti - 2011
Should public assets such as infrastructure, education, and the environment earn the same return as private investments? The long-term nature of public investments provides commitment to current preferences, which justifies lower than private returns for time-inconsistent decision markers. An...
Persistent link: https://www.econbiz.de/10010274884
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Knowledge Remittances : Does Emigration Foster Innovation?
Fackler, Thomas - 2019
driven by knowledge flows that are triggered by emigrants. While skilled migrants are not inventing in their home country … anymore, they contribute to cross-border knowledge and technology diffusion and thus help less advanced countries to catch up …
Persistent link: https://www.econbiz.de/10012892171
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Division of Labor and the Organization of Knowledge in Production : A Laboratory Experiment
Klockmann, Victor; von Schenk, Alicia; von Siemens, … - 2021
Following Garicano (2000), we consider groups whose members decide what knowledge to acquire and how to use this … knowledge in production. If efficient production requires common knowledge, all group members should become workers and acquire … common knowledge. But if efficient production requires diverse knowledge, one group member should become manager, acquire …
Persistent link: https://www.econbiz.de/10013250738
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Robots and Firms
Koch, Michael - 2019
We study the implications of robot adoption at the level of individual firms using a rich panel data-set of Spanish manufacturing firms over a 27-year period (1990-2016). We focus on three central questions: (1) Which firms adopt robots? (2) What are the labor market effects of robot adoption at...
Persistent link: https://www.econbiz.de/10012871754