Similar Search Results

Carbon Leakage and capacity-based allocations : is the EU right?

Meunier, Guy; Ponssard, Jean-Pierre; Quirion, Philippe - 2012

based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best … output and capacity based allocation is proved to be the optimal second best policy. The EU scheme for 2013-2020 is discussed …, using cement as a case study. -- cap and trade ; output based allocation ; subsidization of capacity ; climate policy …

Persistent link: https://www.econbiz.de/10009687241

Information design in insurance markets : selling peaches in a market for lemons

García, Daniel; Teper, Roee; Tsur, Matan - 2018

This paper characterizes the optimal information structure in competitive insurance markets with adverse selection. A regulator assigns ratings to individuals according to their risk characteristics, insurers offer fixed insurance contracts to each rating group, and the market clears as in...

Persistent link: https://www.econbiz.de/10011789043

Adverse selection in an insurance market with government-guaranteed subsistence levels

Kim, Bum J.; Schlesinger, Harris - 2004

We consider a competitive insurance market with adverse selection. Unlike the standard models, we assume that individuals receive the benefit of some type of potential government assistance that guarantees them a minimum level of wealth. For example, this assistance might be some type of...

Persistent link: https://www.econbiz.de/10011449545

Economic growth and longevity risk with adverse selection

Heijdra, Ben J.; Reijnders, Laurie S. M. - 2009

We study a closed economy featuring heterogeneous agents and exhibiting endogenous economic growth due to interfirm external effects. Individual agents differ in terms of their mortality profile. At birth, nature assigns a health status to each agent. Health type is private information and...

Persistent link: https://www.econbiz.de/10003923599

The welfare state redistribution and the economy : reciprocal altruism, consumer rivalry and second best

Ploeg, Frederick van der - 2004

Democratic countries with substantial inequality and where people believe that success depends on connections and luck induce political support for high tax rates and generous welfare states. Traditional wisdom is that such policies harm the economy, but there is not much evidence that countries...

Persistent link: https://www.econbiz.de/10011449990

Asset auctions, information, and liquidity

Vives, Xavier - 2010

A model is presented of a uniform price auction where bidders compete in demand schedules; the model allows for common and private values in the absence of exogenous noise. It is shown how private information yields more market power than the levels seen with full information. Results obtained...

Persistent link: https://www.econbiz.de/10003923763

Discounting and welfare analysis over time : choosing the [eta]

Buchholz, Wolfgang (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003641721

Sharing demographic risk : who is afraid of the baby bust?

Ludwig, Alexander (contributor); Reiter, Michael (contributor) - 2008

We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...

Persistent link: https://www.econbiz.de/10003771791

Friedman rule in a model with endogenous growth and cash-in-advance constraint

Gahvari, Firouz - 2009

This paper introduces money into an overlapping generations model with endogenous growth. The model, due to Docquier et al. (2007), exhibits a positive intergenerational externality which precludes its laissez-fair equilibrium to be optimal even if the government can control the level of...

Persistent link: https://www.econbiz.de/10003861772

How to avoid a pension crisis : a question of intelligent system design

Cigno, Alessandro - 2009

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Persistent link: https://www.econbiz.de/10003820014

1
2
3
4
5
6
7
8
9
10
Next
Last