Narrow search
Showing 1 - 10 of 134
Cover Image
Nominal exchange rate flexibility and real exchange rate adjustment : evidence from dual exchange rates in developing countries
Cheung, Yin-Wong; Lai, Kon-Sun - 2005
This study investigates whether exchange rate flexibility aids real exchange rate adjustment based on intra-period data on dual exchange rates from developing countries. Specifically, it analyzes whether the flexible parallel market rate produces faster or slower real exchange rate adjustment...
Persistent link: https://www.econbiz.de/10010274493
Cover Image
The Euro changeover and price adjustments in Italy
Caporale, Guglielmo Maria; Girardi, Alessandro; … - 2011
By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the...
Persistent link: https://www.econbiz.de/10010274996
Cover Image
Lumpy price adjustments: a microeconometric analysis
Dhyne, Emmanuel; Fuss, Catherine; Pesaran, Mohammad Hashem - 2007
This paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price's driving variables (extrinsic). Using two data sets...
Persistent link: https://www.econbiz.de/10010276211
Cover Image
Regime shifts and uncertainty in pollution control
de Zeeuw, Aart; Zemel, Amos - 2012
We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in the damage coefficient. The model allows the full dynamic characterization of the optimal emission policies under uncertainty. The results, that imply prudent behavior due to...
Persistent link: https://www.econbiz.de/10010280838
Cover Image
Adaptation, anticipation-bias and optimal income taxation
Aronsson, Thomas; Schöb, Ronnie - 2012
Adaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for such anticipation-biases in a framework where consumers...
Persistent link: https://www.econbiz.de/10010283632
Cover Image
Contract adjustment under uncertainty
Holden, Helge; Holden, Lars; Holden, Steinar - 2005
Consider a contract over trade in continuous time between two players, according to which one player makes a payment to the other, in exchange for an exogenous service. At each point in time, either player may unilaterally require an adjustment of the contract payment, involving adjustment costs...
Persistent link: https://www.econbiz.de/10010261197
Cover Image
Adaptive Agents May Be Smarter than You Think : Unbiasedness in Adaptive Expectations
Palestrini, Antonio; Gallegati, Mauro; Delli Gatti, Domenico - 2021
Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...
Persistent link: https://www.econbiz.de/10013217385
Cover Image
Tax neutrality: illusion or reality?: the case of entrepreneurship
Kanniainen, Vesa; Panteghini, Paolo M. - 2008
This paper shows that taxes which are understood to be neutral with respect to the marginal investment decisions may be distortionary with respect to entrepreneurial decisions. In particular, we apply an intertemporal model to show that a comprehensive income tax is distortionary unless all...
Persistent link: https://www.econbiz.de/10010276142
Cover Image
How Information Affects Support for Education Spending: Evidence from Survey Experiments in Germany and the United States
West, Martin R.; Woessmann, Ludger; Lergetporer, Philipp; … - 2016
education spending and teacher salaries falls when respondents receive information about existing levels. Treatment effects vary … by prior knowledge in a manner consistent with information effects rather than priming. Support for salary increases is …’ lower support for increases. Information about the tradeoffs between specific spending categories shifts preferences from …
Persistent link: https://www.econbiz.de/10011584891
Cover Image
The political economy of higher education finance: how information and design affect public preferences for tuition
Lergetporer, Philipp; Wößmann, Ludger - 2019
support for tuition depends on information and design, we devise several survey experiments in representative samples of the … German electorate (N>19,500). The electorate is divided, with a slight plurality opposing tuition. Providing information on … opposition-reducing effect persists two weeks after treatment. Information on fiscal costs and unequal access does not affect …
Persistent link: https://www.econbiz.de/10012018227