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the viewers' equilibrium demand for high quality content. We find that, although consumers dislike advertisements, an …
Persistent link: https://www.econbiz.de/10013122127
and labour and its relation to derived demand. The resulting formula has proven very useful in understanding the derived … demand for productive factors, the distribution of factor incomes, and Marshall's Four Rules. This short paper notes that a …
Persistent link: https://www.econbiz.de/10012779812
Firms adjust to differences in market size and demand uncertainty by changing the frequency and size of their export … shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as …
Persistent link: https://www.econbiz.de/10013054497
In this paper we explore the role that demand uncertainty plays for the offshoring decision, and the role that … demand. The presence of a cost of firing or hiring as in Bagliano & Bertola (2004) generates an intertemporal element to a …
Persistent link: https://www.econbiz.de/10012986173
In this paper we conduct a counterfactual analysis and estimate the quantitative importance of demand and supply … isolate the impact of capital-skill complementarity (i.e., demand effects) and varying skill-specific labor supply (i …
Persistent link: https://www.econbiz.de/10013316312
, and the demand for private and public child care are simultaneously endogenized and intertemporally determined. We …
Persistent link: https://www.econbiz.de/10013317379
unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over … individuals' lifetimes. The presence of demand type heterogeneity leads to the possibility that optimal GR contracts may have a … whose type turns out to be high risk but low demand renew more of their GR insurance than is efficient due to the attractive …
Persistent link: https://www.econbiz.de/10012913273
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
This paper examines the impact of Knightian uncertainty upon optimal climate policy through the prism of a continuous-time real option modelling framework. We analytically determine optimal intertemporal climate policies under ambiguity. Additionally, numerical simulations are provided to...
Persistent link: https://www.econbiz.de/10013092649
We study numerically the inter- and intra-generational welfare consequences of alternative pension fund policies in response to unexpected demographic, financial and macro-economic shocks. Our analysis is based on an applied many-generation OLG model describing a small-open economy with...
Persistent link: https://www.econbiz.de/10013156226