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demand by reducing negative externalities. We apply the framework to the database of Kee et al. (2009) and derive ad valorem …
Persistent link: https://www.econbiz.de/10013046066
group in comparison to fully decentralized negotiations, particularly if the objectives of the members of the coalition …
Persistent link: https://www.econbiz.de/10013087729
I consider a model in which an asset owner must decide how much to invest in his asset mindful of the fact that an encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the encroacher and asset owner engage in a contest over the...
Persistent link: https://www.econbiz.de/10013157848
) externalities. We show that, because learning can exacerbate this externality, the value of learning can be negative and, thus … externalities. We conclude that the existing results typically taken as evidence of tax competition may be more nuanced than …
Persistent link: https://www.econbiz.de/10012942996
In a laboratory experiment with supply function competition and private information about correlated costs we study whether cost interdependence leads to greater market power in relation to when costs are uncorrelated in the ways predicted by Bayesian supply function equilibrium. We find that...
Persistent link: https://www.econbiz.de/10012855218
mechanism should - in theory - provide incentives for truth-telling, many buyers in fact believe that they can increase their …
Persistent link: https://www.econbiz.de/10013023914
The paper examines the monetary-fiscal interactions in a monetary union model with uncertainty due to imperfect central bank transparency. We first show that monetary uncertainty disciplines fiscal policymakers and thereby reduces taxes, average inflation and output distortions. However, as more...
Persistent link: https://www.econbiz.de/10012753473
DSGE-models have become important tools of analysis not only in academia but increasingly in the board rooms of central banks. The success of these models has much to do with the coherence of the intellectual framework it provides. The limitations of these models come from the fact that they...
Persistent link: https://www.econbiz.de/10012753586
This paper considers an intertemporal decision problem in which the agent has limited foresight. It offers an interpretation of why people may smoke when they are young - and arguably have a short horizon of foresight - and refrain from smoking when they get older - and their foresight is better
Persistent link: https://www.econbiz.de/10013316383
We compare single ballot vs dual ballot elections under plurality rule, assuming sincere voting and allowing for partly endogenous party formation. Under the dual ballot, the number of parties is larger but the influence of extremist voters on equilibrium policy is smaller, because their...
Persistent link: https://www.econbiz.de/10012763997