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Banking Permits : Economic Efficiency and Distributional Effects
Bosetti, Valentina; Carraro, Carlo; Massetti, Emanuele - 2021
bank their permits for future use. In the model presented in this paper, banking of carbon allowances in a global permit … market is fully endogenised, i.e. agents may decide to bank permits by taking into account their present and future needs and … traders find it optimal to bank permits, when banking is socially optimal, and what are the implications for present and …
Persistent link: https://www.econbiz.de/10013316607
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Climate Policy Enhances Efficiency : A Macroeconomic Portfolio Effect
Siegmeier, Jan - 2015
Carbon pricing regulates emission flows and collects rents from underlying fossil resource stocks. The resulting investment shift implies lower climate policy costs and improved welfare if capital is underaccumulated. We prove that under emission trading, such a beneficial macroeconomic...
Persistent link: https://www.econbiz.de/10013029498
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The Greek Crisis : Causes and Consequences
Garcia Pascual, Antonio I. - 2011
Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster than GDP. Fiscal consolidation alone cannot close the solvency gap. A substantial reduction in the stock of debt is needed. Even post-debt restructuring, there is no guarantee...
Persistent link: https://www.econbiz.de/10013117780
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Competition in the International Niobium Market : An Econometric Study
Silveira, Jailison W. - 2017
Niobium is a highly strategic mineral, in which Brazil holds almost all of the world's reserves followed by Canada …
Persistent link: https://www.econbiz.de/10012942003
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A Closer Look at Revealed Comparative Advantage : Gross-versus Value Added Trade Flows
Brakman, Steven - 2015
With the availability of international value added trade data it has become evident that gross export data and value added data do not provide the same information. Although gross exports crosses national borders and is the target of trade policy, value added data tell us what fragment in the...
Persistent link: https://www.econbiz.de/10013023177
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Welfare Policy in the Presence of Unionised Labour and Internationally Mobile Firms
Rocha-Akis, Silvia - 2010
In oligopolistic industries, increased cost saving opportunities via offshoring have a moderating effect on trade unions. In order to discourage mobile firms from leaving the country, unions accept lower sector wages. In effect, the negotiated wage becomes independent of workers' bargaining...
Persistent link: https://www.econbiz.de/10013144026
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Cross-Country Income Differences and Technology Diffusion in a Competitive World
Irmen, Andreas - 2012
-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the … policies such as subsidies to innovation investments explain a country's position in the eventual world income distribution …
Persistent link: https://www.econbiz.de/10012754962
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How National and International Financial Development Affect Industrial R&D
Maskus, Keith E. - 2013
We examine the impacts of both domestic and international financial market development on R&D intensities in 22 manufacturing industries in 18 OECD countries for the period 1990-2003. We take account of such industry characteristics as the need for external financing and the amount of tangible...
Persistent link: https://www.econbiz.de/10013092838
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Financial Development and Income Inequality
Jauch, Sebastian - 2012
We analyze the link between financial development and income inequality for a broad unbalanced dataset of up to 138 developed and developing countries over the years 1960 to 2008. Using credit-to-GDP as a measure of financial development, our results reject theoretical models predicting a...
Persistent link: https://www.econbiz.de/10013112605
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Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries
Samargandi, Nahla - 2014
We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries over the 1980-2008 period, using pooled mean group estimator in a dynamic heterogeneous panel setting. We show that financial development does not have a linear positive...
Persistent link: https://www.econbiz.de/10013054321