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Construction of Composite Business Cycle Indicators in a Sparse Data Environment
Abberger, Klaus - 2011
applied in a case study for Abu Dhabi. Because the economy of Abu Dhabi is very dependent on oil, real income reflects the … economic situation better than real gross domestic product (GDP). For this reason a measure of real gross domestic income (GDI …
Persistent link: https://www.econbiz.de/10013120906
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Modeling Fluctuations in the Global Demand for Commodities
Kilian, Lutz - 2018
It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic...
Persistent link: https://www.econbiz.de/10012930077
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The Welfare Gains of Age Related Optimal Income Taxation
Bastani, Spencer - 2010
Using a calibrated overlapping generations model we quantify the welfare gains of an age dependent income tax. Agents … income …
Persistent link: https://www.econbiz.de/10013136607
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Distribution-Neutral Welfare Ranking-Extending Pareto Principle
Marjit, Sugata - 2017
The well known Pareto criterion used in the context of efficiency and welfare has to do with absolute changes whereas in every domain of economic behaviour inequality or relative changes has become a major concern. We propose an inequality-preserving or distribution neutral Pareto criterion-the...
Persistent link: https://www.econbiz.de/10012958456
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Soft Paternalism, Merit Goods, and Normative Individualism
Kirchgässner, Gebhard - 2014
Paternalism is an attempt to influence individuals' decisions for their own benefit, even if there are no third parties involved. This seems to contradict normative individualism, which provides the general orientation to our modern democracies. Soft or libertarian paternalism accepts the...
Persistent link: https://www.econbiz.de/10013055992
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Informational Requirements of Nudging
Benkert, Jean-Michel - 2015
A nudge is a non-coercive paternalistic intervention that attempts to improve choices by manipulating the framing of a decision problem. As any paternalism, it faces the difficulty of determining the appropriate welfare criterion. We propose a welfare-theoretic foundation for nudging similar in...
Persistent link: https://www.econbiz.de/10013023118
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Welfare Effects of Short-Time Compensation
Braun, Helge - 2014
We study welfare effects of public short-time compensation (STC) in a model in which firms respond to idiosyncratic profitability shocks by adjusting employment and hours per worker. Introducing STC substantially improves welfare by mitigating distortions caused by public unemployment insurance...
Persistent link: https://www.econbiz.de/10013043593
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Competition for Viewers and Advertisers in a TV Oligopoly
Kind, Hans Jarle; Nilssen, Tore; Sorgard, Lars - 2021
We consider a model of a TV oligopoly where TV channels transmit advertising and viewers dislike such commercials. We show that advertisers make a lower profit the larger the number of TV channels. If TV channels are sufficiently close substitutes, there will be underprovision of advertising...
Persistent link: https://www.econbiz.de/10013317313
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Inequity Aversion, Welfare Measurement and the Gini Index
Schmidt, Ulrich - 2018
utilitarian social welfare function yields a simple welfare measure which comprises both GDP and income inequality as measured by …
Persistent link: https://www.econbiz.de/10012916152
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Should Income Inequality Be Praised? Multiple Public Goods Provision, Income Distribution and Social Welfare
Itaya, Jun-ichi - 2017
We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure … public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a … voluntarily supplied public goods; specifically, we show that not only an income inequality-raising redistribution policy but also …
Persistent link: https://www.econbiz.de/10012965708