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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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Flexible pension take-up in social security
Adema, Yvonne; Bonenkamp, Jan; Meijdam, Lex - 2013
Persistent link: https://www.econbiz.de/10009784943
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Property transfer taxes, residential mobility, and welfare
Schmidt, Daniel Jonas - 2022
In this paper, I develop an overlapping generations model to analyze the effects of property transfer taxes on homeownership, residential mobility, and welfare in the Netherlands. A revenue-neutral abolition of the 2% transfer tax increases the likelihood that homeowners sell their old house and...
Persistent link: https://www.econbiz.de/10013332732
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Intergenerational sharing of unhedgeable inflation risk
Chen, Damiaan H. J.; Beetsma, Roel; Wijnbergen, Sweder van - 2022 - This version: November 16, 2022
We explore how members of a collective pension scheme can share inflation risks in the absence of suitable financial market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various participants of a collective pension scheme than would be...
Persistent link: https://www.econbiz.de/10013460026
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Horizontal multinational firms, vertical multinational firms and domestic investment
Namini, Julian Emami; Pennings, Enrico - 2009
Persistent link: https://www.econbiz.de/10003813742
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Horizontal multinational firms, vertical multinational firms and domestic investment
Namini, Julian Emami; Pennings, Enrico - 2009
We build a dynamic general equilibrium model with 2 countries, horizontal and vertical multinational activity and endogenous domestic and foreign investment. It is found that horizontal multinational activity always leads to a complementary relationship between domestic and foreign investment....
Persistent link: https://www.econbiz.de/10011377536
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Does entrepreneurship reduce unemployment?
Audretsch, David B.; Carree, Martin Anthony; Thurik, … - 2001
In this paper, we develop two hypotheses: First, regional innovation efforts have a positive impact on regional knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic performance. We test these hypotheses using county level data...
Persistent link: https://www.econbiz.de/10011317454
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Public initiatives to support entrepreneurs : credit guarantees versus co-funding
Arping, Stefan; Lóránth, Gyöngyi; Morrison, Alan - 2009
Persistent link: https://www.econbiz.de/10003813752
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Public initiatives to support entrepreneurs : credit guarantees versus co-funding
Arping, Stefan; Lóránth, Gyöngyi; Morrison, Alan - 2009
We analyze financial support for the entrepreneurial sector. State support can raise welfare by relaxing financial constraints, but it can also reduce lending standards if entrepreneurs substitute public sources of collateral for their own assets, if it encourages excessive entrepreneurial...
Persistent link: https://www.econbiz.de/10011377605
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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