Similar Search Results

Optimal central bank conservatism and monopoly trade unions

Berger, Helge; Hefeker, Carsten; Schöb, Ronnie - 2001

OPTIMThe conservative central banker has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...

Persistent link: https://www.econbiz.de/10011397779

A theory of price adjustment under loss aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010354159

Welfare effects of short-time compensation

Braun, Helge; Bruegemann, Bjoern - 2014

We study welfare effects of public short-time compensation (STC) in a model in which firms respond to idiosyncratic profitability shocks by adjusting employment and hours per worker. Introducing STC substantially improves welfare by mitigating distortions caused by public unemployment insurance...

Persistent link: https://www.econbiz.de/10010431301

Private investment in higher education : comparing alternative funding schemes

Eckwert, Bernhard (contributor); Zilcha, Itzhak (contributor) - 2008

This paper uses an overlapping generations framework to analyze the implications of different financing regimes in the education sector for human capital formation and economic welfare. Agents privately invest in education after they have received a noisy information signal about their...

Persistent link: https://www.econbiz.de/10003751100

Nonparametric welfare analysis for discrete choice : levels and differences of individual and social welfare

Capéau, Bart; De Sadeleer, Liebrecht; Maes, Sebastiaan; … - 2021

Empirical welfare analyses often impose stringent parametric assumptions on individuals' preferences and neglect unobserved preference heterogeneity. In this paper, we develop a framework to conduct individual and social welfare analysis for discrete choice that does not suffer from these...

Persistent link: https://www.econbiz.de/10012513281

On the heterogeneous trade and welfare effects of GATT/WTO membership

Felbermayr, Gabriel; Larch, Mario; Yalçin, Erdal; … - 2020

We build on the latest developments in the structural gravity literature to quantify the partial and general equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980-2016, we find that the...

Persistent link: https://www.econbiz.de/10012287974

Welfare losses of road congestion

Russo, Antonio; Adler, Martin W; Liberini, Federica; … - 2019 - This version: May 2019

We estimate the marginal external congestion cost of motor-vehicle travel for Rome, Italy, using a methodology that accounts for hypercongestion (a situation where congestion decreases a road's throughput). We show that the external cost - even when roads are not hypercongested - is substantial,...

Persistent link: https://www.econbiz.de/10012029052

Inequity aversion, welfare measurement and the Gini index

Schmidt, Ulrich; Wichardt, Philipp C. - 2018

Over the last decades, research in behavioural economics has demonstrated that individual welfare (utility), as relevant for economic decision making, depends not only on absolut but also on distributional aspects. Moreover, evidence is gathering that something similar holds for aggregate...

Persistent link: https://www.econbiz.de/10011845317

Optimal redistributive wealth taxation when wealth is more than just capital

Franks, Max; Edenhofer, Ottmar - 2020

We show how normative standpoints determine optimal taxation of wealth. Since wealth is not equal to capital, we find very different welfare implications of land rent-, bequest- and capital taxation. It is mainly land rents that should be taxed. We develop an overlapping generations model with...

Persistent link: https://www.econbiz.de/10012162503

Optimal lockdown and social welfare

Pestieau, Pierre; Ponthiere, Gregory - 2020

This paper reexamines the design of the optimal lockdown strategy by paying attention to its robustness to the postulated social welfare criterion. We first characterize optimal lockdown under utilitarianism, and we show that this social criterion can, under some conditions, imply a COVID-19...

Persistent link: https://www.econbiz.de/10012313558

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