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Secular stagnation, rational bubbles, and fiscal policy
Teulings, Coen N. - 2016
It is well known that rational bubbles can be sustained in balanced growth path of a deterministic economy when the … return to capital r is equal to the growth rate g. When there is a lack of stores of value, bubbles can implement an … capital. Then, bubbles further efficiency, though they cannot implement first best. While bubbles can only be sustained when r …
Persistent link: https://www.econbiz.de/10011540632
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Sunshine trading : flashes of trading intent at the NASDAQ
Skjieltorp, Johannes A.; Sojli, Elvira; Tham, Wing Wah - 2012
Persistent link: https://www.econbiz.de/10009724313
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Capital markets integration, growth and income distribution : a dynamic analysis
Viaene, Jean-Marie; Zilcha, Itzhak - 1997
Persistent link: https://www.econbiz.de/10000976071
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Optimal education when capital markets are integrated
Viaene, Jean-Marie; Zilcha, Itzhak - 1999
Persistent link: https://www.econbiz.de/10001363375
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Cooperation in an overlapping generations experiment
Offerman, Theo; Potters, Jan; Verbon, Harry A. A. - 1998
Recent theoretical work shows that folk theorems can be developed for infiniteoverlapping generations games. Cooperation in such games can be sustained as aNash equilibrium. Besides the efficient cooperative equilibrium there is alsothe inefficient non-cooperative equilibrium. This paper...
Persistent link: https://www.econbiz.de/10011301169
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Population ageing and pension reform in a small open economy with non-traded goods
Bettendorf, Leon; Heijdra, Ben J. - 2004
In this paper we study the implications of population ageing in an economy with a sizeable non-traded goods sector. To this effect a highly stylized micro-founded macro model is constructed in which the age structure of the population plays a non-trivial role. The model distinguishes separate...
Persistent link: https://www.econbiz.de/10011343315
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Demography and provisions for retirement : the pension composition, an equilibrium approach
Praag, Bernard M. S. van; Hop, J. Peter - 2018
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory fully funded occupational pension systems, and mandatory social security financed by pay-as-you-go. The specific mixture of the three systems we will call the pension composition....
Persistent link: https://www.econbiz.de/10011870742
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Herding behaviour, bubbles and log periodic power laws in illiquid stock markets : a case study on the bucharest stock exchange
Pele, Daniel Traian; Mazurencu Marinescu, Miruna; … - 2013
Persistent link: https://www.econbiz.de/10010191335
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Bank deregulation, competition and economic growth : the US free banking experience
Ager, Philipp; Spargoli, Fabrizio - 2013
We exploit the introduction of free banking laws in US states during the 1837-1863 period to examine the impact of removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic stability in this period, we are able to isolate the...
Persistent link: https://www.econbiz.de/10010227307
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Intergenerational and international welfare leakages of a product subsidy in a small open economy
Bettendorf, Leon; Heijdra, Ben J. - 1997
Persistent link: https://www.econbiz.de/10000959249