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Faure, Salomon; Gersbach, Hans - 2016

capital regulation in a general equilibrium setting. There are two types of money created and destructed: bank deposits, when …

Persistent link: https://www.econbiz.de/10011558083

Loanable funds vs money creation in banking: A benchmark result

Faure, Salomon A.; Gersbach, Hans - 2017

We establish a benchmark result for the relationship between the loanablefunds and the money-creation approach to banking. In particular, we show that both processes yield the same allocations when there is no uncertainty and thus no bank default. In such cases, using the much simpler...

Persistent link: https://www.econbiz.de/10011764472

A Pigouvian Approach to Congestion in Matching Markets

He, Yinghua - 2019

Recruiting agents, or "programs" costly screen "applicants" in matching processes, and congestion in a market increases with the number of applicants to be screened. To combat this externality that applicants impose on programs, application costs can be used as a Pigouvian tax. Higher costs...

Persistent link: https://www.econbiz.de/10012896762

Evaluating the Long-Run Impact of an Innovative Anti-Poverty Program : Evidence Using Household Panel Data

Asadullah, M. Niaz - 2016

Using a four-round panel data set from the first phase of the Challenging the Frontiers of Poverty Reduction – Targeting the Ultra Poor (CFPR – TUP) programme of BRAC, we investigate whether a one-off transfer of livestock assets improves well-being of the very poor women in Bangladesh....

Persistent link: https://www.econbiz.de/10012997454

Can Basic Entrepreneurship Transform the Economic Lives of the Poor?

Bandiera, Oriana - 2014

The world's poorest people lack capital and skills and toil for others in occupations that others shun. Using a large-scale and long-term randomized control trial in Bangladesh this paper demonstrates that sizable transfers of assets and skills enable the poorest women to shift out of...

Persistent link: https://www.econbiz.de/10013063908

Limited Attention as the Scarce Resource in an Information-Rich Economy

Falkinger, Josef - 2021

This paper uses basic empirical facts from attention and perception psychology for a behavioral approach to equilibrium …-rich and whether scarcity of attention complements economic scarcity. A conventional economic equilibrium results if subjects … equilibrium diversity and level of attention-seeking activities are shown. At the normative level, welfare, efficiency and optimal …

Persistent link: https://www.econbiz.de/10013318625

Government Subsidies as a Risk-Sharing Policy Tool in Innovation Investment

Lu, Hao; De Fuentes, Claudia; Milla, Joniada; Ahmadi, Soheil - 2022

Current literature on the impact assessment of government innovation subsidies is mainly empirical driven and lacks an overarching theoretical model to explain the conditions under which government subsidies create positive additionalities on private R&D investment. In this paper, we present a...

Persistent link: https://www.econbiz.de/10014241969

A Pure Theory of Population Distribution When Preferences are Ordinal

Stark, Holger; Kosiorowski, Grzegorz - 2023

We model an environment in which individuals prefer to be in a space in which their rank is higher, be it a social space, a geographical space, a work environment, or any other comparison sphere which we refer to in this paper, and without loss of generality, as a region. When the individuals...

Persistent link: https://www.econbiz.de/10014261428

Insuring non-verifiable losses

Doherty, Neil A.; Laux, Christian; Muermann, Alexander - Center for Financial Studies - 2011

Insurance contracts are often complex and difficult to verify outside the insurance relation. We show that standard one-period insurance policies with an upper limit and a deductible are the optimal incentive-compatible contracts in a competitive market with repeated interaction. Optimal group...

Persistent link: https://www.econbiz.de/10011105005

A note on uniqueness in game-theoretic foundations of the reactive equilibrium

Mimra, Wanda; Wambach, Achim - Center for Financial Studies - 2014

Riley (1979)'s reactive equilibrium concept addresses problems of equilibrium existence in competitive markets with … adverse selection. The game-theoretic interpretation of the reactive equilibrium concept in Engers and Fernandez (1987) yields … the Rothschild-Stiglitz (1976)/Riley (1979) allocation as an equilibrium allocation, however multiplicity of equilibrium …

Persistent link: https://www.econbiz.de/10010961635