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Persistent link: https://www.econbiz.de/10003495711
We present a two-good, two-country overlapping generations model where emissions arise from production and each country has a domestic emission permit system. When one country unilaterally reduces her cap on emissions, her output available for domestic and foreign consumption diminishes more...
Persistent link: https://www.econbiz.de/10003749461
Capital estimates are widely used in economic growth and productivity studies, for profitability considerations and wealth accounting exercises. Yet the calculation of "capital" frequently receives only cursory attention, despite the challenges posed by conceptual difficulties, the complexity of...
Persistent link: https://www.econbiz.de/10011653808
Investment statistics of the People's Republic of China are a source of many puzzles. Some investment data are of … dubious quality, while the particular concepts of investment and their changing definitions over time are often poorly … understood. Fixed asset investment, a remnant of the planned economy, comes with severe limitations in terms of data coverage and …
Persistent link: https://www.econbiz.de/10012165950
Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except at disaggregated levels and must be estimated prior to being used in empirical analysis. We develop and apply a new estimation method, based on advances in economics, statistics,...
Persistent link: https://www.econbiz.de/10003120218
Persistent link: https://www.econbiz.de/10003462870
There are many reasons to suspect that benefit-cost analysis applied to environmental policies will result in policy decisions that will reject those environmental policies. The important question, of course, is whether those rejections are based on proper science. The present paper explores...
Persistent link: https://www.econbiz.de/10003997569
Persistent link: https://www.econbiz.de/10003598837
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
In the United States child adoption costs vary considerably, ranging from no out-of-pocket expense to $50,000 or more. What are the underlying causes for the variability in child adoption expenses? While cost variability is widely acknowledged, the sources of the differentials have not been...
Persistent link: https://www.econbiz.de/10009388358