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Sectoral Trade Freeness and Agglomeration in the EU: An Empirical Test Strategy
Cafiso, Gianluca - CESifo - 2012
different bootstrap distributions. …
Persistent link: https://www.econbiz.de/10010877933
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Short and Long-run Behaviour of Long-term Sovereign Bond Yields
Afonso, António; Rault, Christophe - CESifo - 2010
determinants, we resort to simulation and bootstrap methods for the analysis. Results based on the Common Correlated Effect …
Persistent link: https://www.econbiz.de/10008727299
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Long-run Determinants of Sovereign Yields
Afonso, António; Rault, Christophe - CESifo - 2010
We study sovereign bond yields in OECD countries with a dynamic panel by checking for cross-section dependence; assessing panel cointegration; and estimating panel error-correction models. The results show that markets consider budgetary and external imbalances and inflation as relevant...
Persistent link: https://www.econbiz.de/10008498994
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The Importance of the Electoral Rule: Evidence from Italy
Bordignon, Massimo; Monticini, Andrea - CESifo - 2011
We employ bootstrap methods (Efron (1979)) to test the effect of an important electoral reform implemented in Italy …
Persistent link: https://www.econbiz.de/10008853865
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Commodity Tax Structure Under Uncertainty in a Perfectly Competitive Market
Goerke, Laszlo - 2011
In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on … competitive market characterised by uncertainty about the commodity price, if firms can respond to the revelation of demand …
Persistent link: https://www.econbiz.de/10013130099
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Global Warming and Extreme Events : Rethinking the Timing and Intensity of Environmental Policy
Chen, Yu-Fu - 2010
The possibility of low-probability extreme events has reignited the debate over the optimal intensity and timing of climate policy. In this paper we therefore contribute to the literature by assessing the implications of low-probability extreme events on environmental policy in a continuous-time...
Persistent link: https://www.econbiz.de/10013139799
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Information, Uncertainty, and Subjective Entitlements in Bargaining
Karagözoğlu, Emin - 2010
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10013139800
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Optimal Income Taxation with Uncertain Earnings : A Synthesis
Boadway, Robin - 2011
uncertainty has evolved since Mirrlees' original contribution. The literature on the income tax as a social insurance device is … more limited. It has largely assumed that households are ex ante identical so unequal earnings are due to uncertainty alone …. We provide a general treatment of the optimal income tax under uncertainty when households differ in ability. We …
Persistent link: https://www.econbiz.de/10013117794
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Risk Sharing in Defined-Contribution Funded Pension Systems
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate welfare, as measured by equivalent variations. While...
Persistent link: https://www.econbiz.de/10013118167
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Failure of Ad Valorem and Specific Tax Equivalence Under Uncertainty
Goerke, Laszlo - 2012
Applying a framework of perfect competition under uncertainty, we contribute to the discussion of whether or not ad … valorem taxes and specific taxes are equivalent. While this equivalence holds without price uncertainty, we show that ad … valorem taxes and specific taxes are “almost never” equivalent in the presence of uncertainty if we demand equivalence to hold …
Persistent link: https://www.econbiz.de/10013100011