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Climate Treaties and Approaching Catastrophes
Barrett, Scott - 2021
If the threshold that triggers climate catastrophe is known with certainty, and the benefits of avoiding catastrophe are high relative to the costs, treaties can easily coordinate countries’ behavior so as to avoid the threshold. Where the net benefits of avoiding catastrophe are lower,...
Persistent link: https://www.econbiz.de/10013315826
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The Economics of Bitcoins -- Market Characteristics and Price Jumps
Gronwald, Marc - 2015
This paper deals with the economics of Bitcoins in two ways. First, it broadens the discussion on how to capture Bitcoins using economic terms. Center stage in this analysis take the discussion of some unique characteristics of this market as well as the comparison of Bitcoins and gold. Second,...
Persistent link: https://www.econbiz.de/10013030485
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Monitoring, Sanctions and Front-Loading of Job Search in a Non-Stationary Model
Cockx, Bart - 2011
We develop and estimate a non-stationary job search model to evaluate a scheme that monitors job search effort and sanctions insured unemployed whose effort is deemed insufficient. The model reveals that such schemes provide incentives to the unemployed to front-load search effort prior to...
Persistent link: https://www.econbiz.de/10013117785
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Expected Net Present Value, Expected Net Future Value, and the Ramsey Rule
Gollier, Christian - 2013
rate. We reconcile the two approaches by introducing risk aversion and risk-neutral probabilities. We show that if the …
Persistent link: https://www.econbiz.de/10013095951
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Statistical vs. Identified Lives in Benefit-Cost Analysis
Hammitt, James K. - 2013
Economic evaluation of projects involving changes in mortality risk conventionally assumes that lives are statistical …, i.e., that risks and policy-induced changes in risk are small and similar among a population. In reality, baseline … mortality risks and policy-induced changes in risk often differ among individuals although these differences are imperfectly …
Persistent link: https://www.econbiz.de/10012753987
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How Should the Distant Future Be Discounted When Discount Rates are Uncertain?
Gollier, Christian; Weitzman, Martin - 2021
and probabilities are adjusted for risk, the two approaches are identical. What we would wish a reader to take away from …
Persistent link: https://www.econbiz.de/10013316287
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The Life Satisfaction Approach to Environmental Valuation
Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - 2021
In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals’ well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...
Persistent link: https://www.econbiz.de/10013316297
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'Mitigation, Adaptation, Suffering' : In Search of the Right Mix in the Face of Climate Change
Tulkens, Henry; van Steenberghe, Vincent - 2021
The usually assumed two categories of costs involved in climate change policy analysis, namely abatement and damage costs, hide the presence of a third category, namely adaptation costs. This dodges the determination of an appropriate level for them. Including adaptation costs explicitly in the...
Persistent link: https://www.econbiz.de/10013316316
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The War on Illegal Drugs in Producer and Consumer Countries : A Simple Analytical Framework
Mejia, Daniel - 2021
This paper develops a model of the war against illegal drugs in both producer and consumer countries. The paper studies the trade-off faced by the government of the drug consumer country between prevention policies (aimed at reducing the demand for drugs) and enforcement policies (aimed at...
Persistent link: https://www.econbiz.de/10013316449
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Marginal Employment Subsidization : A New Concept and a Reappraisal
Knabe, Andreas; Schöb, Ronnie; Weimann, Joachim - 2021
In this paper, we attempt to renew the interest in marginal employment subsidies. Such subsidies are paid only for a firm's additional employment exceeding some reference level and create larger employment stimuli at lower fiscal costs than general wage subsidies for all workers. If the hiring...
Persistent link: https://www.econbiz.de/10013317599