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The macroeconomics of TANSTAAFL
Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2011
This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....
Persistent link: https://www.econbiz.de/10009380412
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Education and efficient redistribution
Dur, Robert A. J.; Teulings, Coen N. - 2001
Should education be subsidized for the purpose of redistribution? The usual argument against subsidies to education above the primary level is that the rich take up most education, so a subsidy would increase inequality. We show that there is a counteracting effect: an increase in the stock of...
Persistent link: https://www.econbiz.de/10011400867
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The relationship between prices and output in the UK and the US
Caporale, Guglielmo Maria; Claudio-Quiroga, Gloria; … - 2021
This paper analyses the relationship between CPI and real GDP in both the US and the UK using fractional integration and long-range dependence techniques. All series appear to be highly trended and to exhibit high degrees of integration and persistence, especially in the case of CPI. Since the...
Persistent link: https://www.econbiz.de/10012494781
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Drivers of Covid-19 vaccinations : vaccine administration and delivery efficiency in the United States
Goel, Rajeev K.; Nelson, Michael A. - 2021
drivers of the administration and delivery efficiency of coronavirus vaccines. For this purpose, we use data from the 50 US … economic prosperity and rural population aid vaccine administration and delivery efficiency. Delivery efficiency improves in … health workers, including physicians and nurses, did not significantly impact administration or efficiency. On the other hand …
Persistent link: https://www.econbiz.de/10012494792
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Does competition justify inequality?
Bartling, Björn; Grieder, Manuel; Zehnder, Christian - 2015
Are competitive mechanisms perceived as just sources of economic inequality? Perceptions of fairness violations can have severe economic consequences, as they may cause counterproductive behavior such as rulebook slowdowns or quality shading. To analyze fairness perceptions associated with...
Persistent link: https://www.econbiz.de/10011405188
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Incentives to work and performance in the public sector
Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2015
productive efficiency, in the public sector. We focus on reforms aiming to establish parity between work conditions in the public …
Persistent link: https://www.econbiz.de/10010477149
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Efficient adaptation to flood risk
Hovekamp, Winston P.; Wagner, Katherine R. H. - 2023
This paper studies whether private adaptation to flood risk is economically efficient. We estimate the return to elevating houses, one of the most significant private defensive investments against flooding, using two decades of microdata on the universe of houses and flood damages in high-risk...
Persistent link: https://www.econbiz.de/10013503365
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Modelling economic impacts of alternative international climate policy architectures : a quantitative and comparative assessment of architectures for agreement
Bosetti, Valentina; Carraro, Carlo; Sgobbi, Alessandra; … - 2008
successors to the Kyoto protocol are assessed according to four criteria: economic efficiency; environmental effectiveness …
Persistent link: https://www.econbiz.de/10003763299
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Taxes and the efficiency costs of capital distortions
Weichenrieder, Alfons J. (contributor);  … - 2008
political debate. At the same time, the literature is surprisingly silent about the magnitude of possible efficiency costs of a … departure from tax neutrality. Against this background, the present paper discusses the theory of capital structure and provides … backof-the-envelope calculations of the possible efficiency cost of a tax distortion of the debtequity decision. -- Debt …
Persistent link: https://www.econbiz.de/10003771865
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Internationally coordinated emission permit policies : an option for withdrawers from the Kyoto protocol?
Bednar-Friedl, Birgit; Farmer, Karl - 2009
This paper investigates the welfare costs of unilateral versus internationally coordinated emission permit policies in a two-country overlapping generations model with producer carbon emissions. We show that, for a net foreign debtor country, the domestic welfare costs of a unilateral domestic...
Persistent link: https://www.econbiz.de/10003882562