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Service Offshoring and Export Experience
Berlingieri, Giuseppe; Ornelas, Emanuel; Marcolin, Luca - 2021
arm’s length. The model further implies that firms are more likely to offshore when frictions in the provision of services …
Persistent link: https://www.econbiz.de/10013224075
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Taxation and rotation age under stochastic forest stand value
Alvarez, Luis H. R.; Koskela, Erkki - 2004
The paper uses both the single rotation and ongoing rotation framework to study the impact of yield tax, lump-sum tax, cash flow tax and tax on interest rate earnings on the privately optimal rotation period when forest value growth is stochastic and forest owners are either risk neutral or risk...
Persistent link: https://www.econbiz.de/10010270560
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EU Solidarity and Policy in Fighting Infectious Diseases : State of Play, Obstacles, Citizen Preferences and Ways Forward
Ruijter, Anniek de - 2020
In this paper we confront the role the EU traditionally plays in the domain of health with the urgent need for collective action triggered by the corona virus pandemic. In the face of such a crisis, we argue that the joint procurement, stockpiling and allocation of medical countermeasures is a...
Persistent link: https://www.econbiz.de/10012836717
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Moral Hazard in Drug Purchases
Harju, Jarkko; Verho, J - 2023
We study the moral hazard effects of the drug copayment threshold in Finland using detailed prescription drug purchase data. The analysis reveals that the average drug costs increase discontinuously by 17% at the threshold above which out-of-pocket drug costs decrease substantially. Our results...
Persistent link: https://www.econbiz.de/10014347995
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Risk Matters : Breaking Certainty Equivalence
Parra-Alvarez, Juan Carlos - 2020
In this paper we use the property that certainty equivalence, as implied by a first-order approximation to the solution of stochastic discrete-time models, breaks in its equivalent continuous-time version. We study the extent to which a first-order approximated solution built by perturbation...
Persistent link: https://www.econbiz.de/10012834991
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Discounting in the Presence of Scarce Ecosystem Services
Zhu, Xueqin - 2019
Discounting has to take account of ecosystem services in consumption and production. Previous literature focuses on the … services. This paper focuses on intermediate ecosystem services in production and shows that for limited substitutability and a … low growth rate of these ecosystem services, the growth rate of consumption, and thus the discount rate, declines towards …
Persistent link: https://www.econbiz.de/10012892067
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Tenure Choice, Portfolio Structure and Long-Term Care - Optimal Risk Management in Retirement
Fehr, Hans - 2019
We study the interplay between tenure decisions, stock market investment and the public social security system. Housing equity not only serves a dual purpose as a consumption good and as an asset, but also provides insurance to buffer various risks in retirement. Our life cycle model captures...
Persistent link: https://www.econbiz.de/10012864931
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Trade Costs and Strategic Investment in Infrastructure in a Dynamic Global Economy with Symmetric Countries
Yanase, Akihiko; Van Long, Ngo - 2021
This paper develops a two-country model of intraindustry trade with trade costs, which can be reduced by public investment in an international infrastructure capital, the stock of which accumulates over time. Depending on the trade costs and international distribution of manufacturing firms,...
Persistent link: https://www.econbiz.de/10013314918
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FTPL and the Maturity Structure of Government Debt in the New Keynesian Model
Liemen, Max Ole; Posch, Olaf - 2022
In this paper, we revisit the fiscal theory of the price level (FTPL) within the New Keynesian (NK) model. We show in …
Persistent link: https://www.econbiz.de/10014080233
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The Social Cost of Carbon with Intragenerational Inequality Under Economic Uncertainty
van der Ploeg, Rick; Emmerling, Johannes; Groom, Ben - 2022
A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...
Persistent link: https://www.econbiz.de/10014082790