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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

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

Regulatory Arbitrage and the Efficiency of Banking Regulation

Boyer, Pierre C. - 2016

caused by regulatory arbitrage on the capacity of regulators to use several regulatory instruments …

Persistent link: https://www.econbiz.de/10012991941

Elections, Fiscal Policy and Growth: Revisiting the Mechanism

Economides, George; Philippopoulos, Apostolis; Price, Simon - CESifo - 2002

This short paper reconsiders the popular result that the lower the probability of getting reelected, the stronger the incumbent politicians’ incentive to follow short-sighted, inefficient policies. The set-up is a general equilibrium model of endogenous growth and optimal fiscal policy, in...

Persistent link: https://www.econbiz.de/10005765948

Competitive Markets, Collective Decisions and Group Formation

Gersbach, Hans; Haller, Hans - CESifo - 2003

We consider a general equilibrium model where groups operating in a competitive market environment can have several members and make efficient collective consumption decisions. Individuals have the option to leave the group and make it on their own or join another group. We study the effect of...

Persistent link: https://www.econbiz.de/10005766089

Bargaining Power and Equilibrium Consumption

Gersbach, Hans; Haller, Hans - CESifo - 2005

We examine how a shift of bargaining power within households operating in a competitive market environment affects equilibrium allocation and welfare. If price effects are sufficiently small, then typically an individual benefits from an increase of bargaining power, necessarily to the detriment...

Persistent link: https://www.econbiz.de/10005766162

Matching and Saving in Continuous Time: Theory

Bayer, Christian; Wälde, Klaus - CESifo - 2010

We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...

Persistent link: https://www.econbiz.de/10008534003

The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal

Menoncin, Francesco; Panteghini, Paolo - CESifo - 2008

The well-known Johansson-Samuelson Theorem proves that, in partial equilibrium, comprehensive income taxation with a uniform tax rate is neutral in terms of investment decisions, if fiscal depreciation allowances coincide with economic depreciation. In this article we show that this result does...

Persistent link: https://www.econbiz.de/10005181253

Small Countries and Preferential Trade Agreements "How Severe is the Innocent Bystander Problem?"

Kose, M. Ayhan; Riezman, Raymond - CESifo - 2000

This paper examines the welfare implications of preferential trade agreements (PTAs) from the perspective of small countries in the context of a multi-country, general equilibrium model. We calibrate our model to represent one relatively small country and two symmetric big countries. We consider...

Persistent link: https://www.econbiz.de/10005181627

Employment and Welfare Effects of a Two-Tier Unemployment Compensation System

Heer, Burkhard - CESifo - 2000

In many OECD countries, e.g. in Germany, France, or the UK, unemploy-ment compensation consists of unemployment insurance and unemployment assistance. Unemployment assistance is provided subsequent to the expiration of entitlement to unemployment insurance and is lower. The effects of this...

Persistent link: https://www.econbiz.de/10005094422