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Financial returns to collecting rare political economy books
Ursprung, Heinrich W. - 2021
Rare books of political economy are eminently collectable. Using historical prices, I employ hedonic regressions to estimate financial returns to collecting the works of ten eminent political economists and develop a price index for this corpus of collectables. For the observation period...
Persistent link: https://www.econbiz.de/10012437910
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On the elasticity of substitution between labor and ICT and IP capital and traditional capital
Jerbashian, Vahagn - 2022
I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...
Persistent link: https://www.econbiz.de/10013390934
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Have macroeconomic models lost their connection with economic reality?
Veen, Tom van - 2020
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw … the development of macroeconomic theory over the past 40 years. The focus is on the main lines of thinking and the story … changes in macroeconomic theory and that the current debates after the GFC will be the start of a more plural approach to …
Persistent link: https://www.econbiz.de/10012211109
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Incomplete property rights and overinvestment
Amegashie, J. Atsu - 2009
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/10003861788
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Persuasion as a contest
Skaperdas, Stergios (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003624559
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Public policies against global warming
Sinn, Hans-Werner (contributor) - 2007
Persistent link: https://www.econbiz.de/10003598834
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Rapacious resource depletion, excessive investment and insecure property rights
Ploeg, Frederick van der - 2010
countries with less secure property rights. The theory suggests that adjusted net saving estimates calculated by the World Bank …
Persistent link: https://www.econbiz.de/10003942714
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Private protection against crime when property value is private information
Baumann, Florian; Friehe, Tim - 2012
This paper analyzes private precautions against crime when the value of the property to be protected is private information. Within a framework in which potential criminals can choose between various crime opportunities, we establish that decentralized decision-making by potential victims may...
Persistent link: https://www.econbiz.de/10009570888
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Combining rights and welfarism : a new approach to intertemporal evaluation of social alternatives
Long, Ngo Van; Martinet, Vincent - 2012
We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...
Persistent link: https://www.econbiz.de/10009503827
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Uncommitted couples : some efficiency and policy implications of marital bargaining
Aura, Saku - 2002
This paper studies a married couple s dynamic investment and consumption choices under the assumption that the couple cannot commit across time not to renegotiate their decisions. The inefficiencies that can arise are characterized. Efficiency properties of different divorce asset-division...
Persistent link: https://www.econbiz.de/10011511104