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Climatic Roots of Loss Aversion
Galor, Oded - 2018
This research explores the origins of loss aversion and the variation in its prevalence across regions, nations and ethnic group. It advances the hypothesis and establishes empirically that the evolution of loss aversion in the course of human history can be traced to the adaptation of...
Persistent link: https://www.econbiz.de/10012920767
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The Effects of Taxation on the Location Decision of Multinational Firms: M&A vs. Greenfield Investments
Hebous, Shafik; Ruf, Martin; Weichenrieder, Alfons - CESifo - 2010
location for an affiliate of a multinational firm. In particular, we distinguish between the tax sensitivity of Greenfield and … M&A investments are less sensitive to differences in tax rates than location decisions of Greenfield investments … Greenfield investments is negative and in absolute value significantly larger than that associated with M&A investments. This …
Persistent link: https://www.econbiz.de/10008572530
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Trust in Public Institutions Over the Business Cycle
Stevenson, Betsey - 2011
We document that trust in public institutions — and particularly trust in banks, business and government — has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...
Persistent link: https://www.econbiz.de/10013128039
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Immigration, Fertility, and Human Capital : A Model of Economic Decline of the West
Azarnert, Leonid V. - 2011
I show how the influences of unskilled immigration, differential fertility between immigrants and the local indigenous population, and incentives for investment in human capital combine to predict the decline of the West. In particular, indigenous low-skilled workers lose from unskilled...
Persistent link: https://www.econbiz.de/10013133620
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Optimal Management with Potential Regime Shifts
Polasky, Stephen - 2010
We analyze how the threat of a potential future regime shift affects optimal management. We use a simple general growth model to analyze four cases that involve combinations of stock collapse versus changes in system dynamics, and exogenous versus endogenous probabilities of regime shift. Prior...
Persistent link: https://www.econbiz.de/10013136238
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Dynamically Optimal R&D Subsidization
Grossmann, Volker - 2010
Previous research on optimal R&D subsidies has focussed on the long run. This paper characterizes the optimal time path of R&D subsidization in a semi-endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R&D subsidization in...
Persistent link: https://www.econbiz.de/10013139245
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The Language Effect in International Trade : A Meta-Analysis
Egger, Peter H. - 2011
Gravity models of international trade have been frequently applied to estimate the impact of common (official or spoken) language on bilateral trade. This study provides a meta-analysis based on 701 language effects collected from 81 academic articles. On average, a common (official or spoken)...
Persistent link: https://www.econbiz.de/10013117260
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Journey into the Unknown? Economic Consequences of Factor Market Integration Under Increasing Returns to Scale
Schäfer, Andreas - 2011
What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....
Persistent link: https://www.econbiz.de/10013117359
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Structural Change, Urban Congestion, and the End of Growth
Grossmann, Volker - 2011
This paper develops a two-sector R&D-based growth model with congestion effects from increasing urban population density. We show that endogenous technological progress causes structural change if there are positive productivity spillovers from the modern to the traditional sector and Engel's...
Persistent link: https://www.econbiz.de/10013118683
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Natural Disasters and the Effect of Trade on Income : A New Panel IV Approach
Felbermayr, Gabriel J. - 2011
Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize F&R's...
Persistent link: https://www.econbiz.de/10013121825