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External Sovereign Debt in a Monetary Union : Bailouts and the Role of Corruption

Achury, Carolina - 2011

We build a tractable stylized model of external sovereign debt and endogenous international interest rates. In corrupt economies with rent-seeking groups stealing public resources, a politico-economic equilibrium is characterized by permanent fiscal impatience which leads to excessive issuing of...

Persistent link: https://www.econbiz.de/10013121867

Unemployment and Debt Dynamics in a Highly Indebted Small Open Economy

Heer, Burkhard - 2011

The paper analyzes the dynamic effects of a total factor productivity shock and an interest rate risk premium shock in a highly indebted open economy. In contrast to the standard open economy framework, search unemployment and wage bargaining are introduced. We find that a negative total factor...

Persistent link: https://www.econbiz.de/10013123217

Wealth Inequality and Externalities from Ex Ante Skill Heterogeneity

Angelopoulos, Konstantinos - 2017

This paper develops an incomplete markets model with state dependent (Markovian) stochastic earnings processes and ex ante skill heterogeneity corresponding to being university educated or not. Using the Wealth and Assets Survey for Great Britain, we find that the university educated group has...

Persistent link: https://www.econbiz.de/10012949580

Integration, Mobility, and Human Capital Formation

Haupt, Alexander - 2010

capital externalities, integration and the ensuing agglomeration of skilled labour can cause a decline in human capital and …

Persistent link: https://www.econbiz.de/10013137447

Fiscal Federalism and Electoral Accountability

Aidt, Toke - 2010

. We identify an important asymmetry between positive and negative externalities and show that centralization may not be … efficient in economies with positive externalities even when regions are identical and centralization does not entail a loss of … accountability. We also show that decentralization can only Pareto dominate centralization in economies with negative externalities …

Persistent link: https://www.econbiz.de/10013144284

International Portability of Health-Cost Cover : Mobility, Insurance, and Redistribution

Werding, Martin - 2012

Public health insurance and other arrangements covering health-costs effectively provide insurance against changes in health status. These arrangements engage in burden-smoothing over the life cycle and entail various elements of redistribution. Lack of portability regarding this type of cover...

Persistent link: https://www.econbiz.de/10013099566

Do Leaders Affect Ethical Conduct?

D'Adda, Giovanna - 2014

We study whether leaders influence the unethical conduct of followers. To avoid selection issues present in natural environments, we use a laboratory experiment in which we form groups and assign leadership roles at random. We study an environment in which groups compete, with dishonest behavior...

Persistent link: https://www.econbiz.de/10013048821

Robust Dynamic Optimal Taxation and Environmental Externalities

Li, Xin - 2014

mapping from climate change to damages is subject to uncertainty, and we adapt and use techniques from robust control theory …

Persistent link: https://www.econbiz.de/10013060049

Social Capital and the Status Externality

Itaya, Jun-ichi - 2018

This paper investigates how the presence of social capital affects the externality arising from status-seeking preference as a parable for inefficient antagonistic behavior. It is assumed that the stock of social capital is accumulating through joint social interaction between rational...

Persistent link: https://www.econbiz.de/10012927000

Cooperation, Motivation and Social Balance

Bosworth, Steven - 2016

This paper examines the reflexive interplay between individual decisions and social forces to analyze the evolution of cooperation in the presence of “multi-directedness,” whereby people's preferences depend on their psychological motives. People have access to multiple, discrete motives....

Persistent link: https://www.econbiz.de/10012996678