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Is Medicines Parallel Trade 'Regulatory Arbitrage'?
Costa-Font, Joan - 2015
medicines conflicts with traditional sources of arbitrage (e.g., price and income differences) and instead is a form of … ‘regulatory arbitrage' that does not produce equivalent welfare effects. We draw upon a unique dataset that contains records of … regulation, and not by price differences in line with the hypothesis of ‘regulatory arbitrage' …
Persistent link: https://www.econbiz.de/10013028783
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The Law of One Price - A Case Study
Haskel, Jonathan; Wolf, Holger C. - CESifo - 2001
We use retail transaction prices for a multinational retailer to examine the extent and permanence of violations of the law of one price (LOOP). For identical products, we find typical deviations of twenty to fifty percent, though there is muted evidence for convergence over time. Such...
Persistent link: https://www.econbiz.de/10005181286
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Six Distributional Effects of Environmental Policy
Fullerton, Don - 2011
While prior literature has identified various effects of environmental policy, this note uses the example of a proposed carbon permit system to illustrate and discuss six different types of distributional effects: (1) higher prices of carbon-intensive products, (2) changes in relative returns to...
Persistent link: https://www.econbiz.de/10013131355
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The Carbon-Budget Approach to Climate Stabilization : Cost-Effective Subglobal Versus Global Action
Eichner, Thomas - 2010
Scientific expertise suggests that mitigating extreme world-wide climate change damages requires avoiding increases in the world mean temperature exceeding 2° Celsius. To achieve the two degree target, the cumulated global emissions must not exceed some limit, the so-called global carbon...
Persistent link: https://www.econbiz.de/10013136281
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Risk Premia in General Equilibrium
Posch, Olaf - 2010
This paper shows that non-linearities imposed by a neoclassical production function alone can generate time-varying and asymmetric risk premia over the business cycle. These (empirical) key features become relevant, and asset market implications improve substantially when we allow for...
Persistent link: https://www.econbiz.de/10013139866
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Why Foreign Ownership May Be Good for You
Egger, Hartmut - 2011
We develop a general equilibrium two-country model with heterogeneous producers and rent sharing at the firm level due to fairness preferences of workers. We identify two sources of a multinational wage premium. On the one hand, there is a pure composition effect because multinational firms are...
Persistent link: https://www.econbiz.de/10013118502
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Trade and Imperfect Competition in General Equilibrium
Koska, Onur A. - 2011
This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish firms and labor is used for production. We show that two different types of equilibria may exist, one with factor price equalization and one with different factor prices. When...
Persistent link: https://www.econbiz.de/10013121203
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The Distributional Consequences of Supply-Side Reforms in General Equilibrium
Angelopoulos, Konstantinos - 2011
Using a heterogeneous agent model allowing for different degrees of complementarity between capital, skilled and unskilled labour, this paper evaluates supply-side reforms consistent with lower public debt-to-GDP in the long-run. We find that, relative to the other tax reforms, capital tax cuts...
Persistent link: https://www.econbiz.de/10013122638
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Public Providers, Versus Private Providers, of Public Goods : A General Equilibrium Study of the Role of the State
Economides, George - 2011
This paper studies the difference between public production and public finance of public goods in a dynamic general equilibrium setup. By public finance, we mean that the public good is produced by private providers with the government financing their costs. When the model is calibrated to match...
Persistent link: https://www.econbiz.de/10013123836
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Fertility, Female Labor Supply, and Family Policy
Fehr, Hans - 2011
The present paper develops a general equilibrium model with overlapping generations and endogenous fertility in order to analyze the interaction between public policy and household labor supply and fertility decisions. The model's benchmark equilibrium reflects the current family policy...
Persistent link: https://www.econbiz.de/10013124970