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Optimal taxation of normal and excess returns to risky assets
Boadway, Robin W.; Spiritus, Kevin - 2021
We study the optimal taxation of risk-free and excess capital income with heterogeneous rates of return, alongside an … optimal nonlinear earnings tax. Households can hold three assets: one risk-free, one risky but diversifiable, and one a … private investment with idiosyncratic risk whose expected return differs among households. Contrary to expectations, the …
Persistent link: https://www.econbiz.de/10012487914
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A theory of continuous uncertainty types
Czerny, Achim Ingo; Verhoef, Erik T.; Zhang, Anming - 2015
This paper distinguishes uncertainty types that differ continuously with respect to the degree to which uncertainty affects the optimal price/price markup or optimal quantity. A monopoly example is used to show that seemingly strong assumptions on functional forms can represent a wide variety of...
Persistent link: https://www.econbiz.de/10010532588
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The impact of uncertainty on investment : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...
Persistent link: https://www.econbiz.de/10011349194
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Responsive state-dependent or habitual state-independent congestion pricing under dynamic congestion
Yu, Xiaojuan; Berg, Vincent A. C. van den; Lu, Zhi-Chun - 2022
In the face of capacity disruptions (due, for example, to traffic incidents or poor weather), information provision and congestion pricing are alternative alleviating policies. A state-dependent toll equals the state-dependent marginal external cost (MEC), which is higher if traffic condition is...
Persistent link: https://www.econbiz.de/10012816981
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Optimal sharing of labor productivity risks and mix of pay-as-you-go and savings
Kusmerski Bilard, Debora - 2008
above the expected growth rate of the economy and when thegovernment has a lifetime perspective of the risk exposure. The …
Persistent link: https://www.econbiz.de/10011376622
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The risk-adjusted carbon price
Ploeg, Frederick van der; Bremer, Ton van den - 2021
perturbation theory to derive an approximate tractable expression for this cost adjusted for climatic and economic risk. We allow … for different aversion to risk and intertemporal fluctuations, skewness and dynamics in the risk distributions of climate …
Persistent link: https://www.econbiz.de/10012545108
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On the relevance of irrelevant information
Parakhonyak, Alexei - 2009
This paper analyses the role of information in the search process. Ibuild a simple model of a good with two random attributes with somejoint probability distribution. I consider seemingly unimportant changesin this distribution, i.e. changes which neither affect expected utility norits variance....
Persistent link: https://www.econbiz.de/10011379165
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Labor market matching under imperfect information
Willems, Tim - 2011
Recent research has shown that the standard labor matching model hasdifficulties in reproducing the co-movement patterns observed in US data. Thisis due to the fact that the standard model lacks sufficient propagation of shocks.This paper shows that refining the informational structure of the...
Persistent link: https://www.econbiz.de/10011382000
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Risk aversion and the subjective time discount rate : a joint approach
Praag, Bernard M. S. van; Booij, Adam S. - 2003
estimate of risk aversion ? and the time preference discount rate ? perindividual. This can be done because the consumption of …
Persistent link: https://www.econbiz.de/10011333268
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Input versus output taxation in an experimental international economy
Riedl, Arno; Winden, Frans A. A. M. van - 2003
This paper is concerned with a policy oriented macroeconomic experiment involving an 'international' economy with a relatively small 'home' country and a large 'foreign' country. It compares the economic performance of two alternative tax systems as a means to finance unemployment benefits: a...
Persistent link: https://www.econbiz.de/10011333884