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Trade in Business Services in General Equilibrium

Markusen, James R. - 2007

journalists. While there are many anecdotes, there has been little in the way of formal theory applied to this issue. In this …

Persistent link: https://www.econbiz.de/10012465841

Quantitative Sovereign Default Models and the European Debt Crisis

Bocola, Luigi - 2018

A large literature has developed quantitative versions of the Eaton and Gersovitz (1981) model to analyze default episodes on external debt. In this paper, we study whether the same framework can be applied to the analysis of debt crises in which domestic public debt plays a prominent role. We...

Persistent link: https://www.econbiz.de/10012480634

An Economic Model of Amniocentesis Choice

Fajnzylber, Eduardo - 2010

Medical practitioners typically utilize the following protocol when advising pregnant women about testing for the possibility of genetic disorders: Pregnant women over the age of 35 should be tested for Down syndrome and other genetic disorders; for younger women, such tests are discouraged...

Persistent link: https://www.econbiz.de/10012462351

An Economic Model of the Planning Fallacy

Brunnermeier, Markus K. - 2008

do an inordinate amount of work right before projects are due. We present a theory in which people underpredict and … less smoothing of work than those chosen by a person with objective beliefs. We test our theory using extant experimental … theory predicts. For example, monetary incentives for accurate prediction ameliorate the planning fallacy while incentives …

Persistent link: https://www.econbiz.de/10012464421

Endogenizing Technological Change : Matching Empirical Evidence to Modeling Needs

Pizer, William A. - 2007

Given that technologies to significantly reduce fossil fuel emissions are currently unavailable or only available at high cost, technological change will be a key component of any long-term strategy to reduce greenhouse gas emissions. In light of this, the amount of research on the pace,...

Persistent link: https://www.econbiz.de/10012465601

Trading Tasks : A Simple Theory of Offshoring

Grossman, Gene M. - 2006

For centuries, most international trade involved an exchange of complete goods. But, with recent improvements in transportation and communications technology, it increasingly entails different countries adding value to global supply chains, or what might be called "trade in tasks." We propose a...

Persistent link: https://www.econbiz.de/10012465939

Progressive Estate Taxation

Farhi, Emmanuel - 2006

For an economy with altruistic parents facing productivity shocks, the optimal estate taxation is progressive: fortunate parents should face lower net returns on their inheritances. This progressivity reflects optimal mean reversion in consumption, which ensures that a long-run steady state...

Persistent link: https://www.econbiz.de/10012466061

On the General Relativity of Fiscal Language

Green, Jerry - 2006

A century ago, everyone thought time and distance were well defined physical concepts. But neither proved absolute. Instead, measures/reports of time and distance were found to depend on one's reference point, specifically one's direction and speed of travel, making our apparent physical...

Persistent link: https://www.econbiz.de/10012466321

Towards a Theory of Firm Entry and Stabilization Policy

Bergin, Paul R. - 2005

This paper studies the role of stabilization policy in a model where firm entry responds to shocks and uncertainty. We evaluate stabilization policy in the context of a simple analytically solvable sticky price model, where firms have to prepay a fixed cost of entry. The presence of endogenous...

Persistent link: https://www.econbiz.de/10012466850

The War Against Drug Producers

Grossman, Herschel I. - 2005

This paper develops a model of a war against the producers of illegal hard drugs. This war occurs on two fronts. First, to prevent the cultivation of crops that are the raw material for producing drugs the state engages the drug producers in conflict over the control of arable land. Second, to...

Persistent link: https://www.econbiz.de/10012467544

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