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Decarbonizing Aviation : Cash-for-Clunkers in the Airline Industry
Brueckner, Jan K.; Kahn, Matthew E.; Nickelsburg, Jerry - National Bureau of Economic Research - 2024
The durability of the transportation capital stock slows down the pace of decarbonization since newer vintages feature cutting-edge technology. If older vintages were to be retired sooner, the social cost of travel would decline. This paper analyzes and explores the viability of a potential...
Persistent link: https://www.econbiz.de/10014512059
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Trade-ins and Transaction Costs in the Market for Used Business Jets
Hodgson, Charles - National Bureau of Economic Research - 2022
Manufacturers of durable goods can encourage consumers facing transaction costs to upgrade by accepting used units as trade-ins. These "buyback schemes" increase demand for new units, but increase the supply of used units if trade-ins are resold. In this paper, I investigate the equilibrium...
Persistent link: https://www.econbiz.de/10013388853
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Internationalization and the evolution of corporate valuation
Levine, Ross - 2005
evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across … 74 countries over the period 1989-2000, we find that Tobin's "q" does not rise after internationalization, even relative … to firms that do not internationalize. Instead, "q" rises significantly one year before internationalization and during …
Persistent link: https://www.econbiz.de/10010522397
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Land, Labor and Globalization in the Pre-Industrial Third World
Williamson, Jeffrey G. - 2000
A Third World data base documenting commodity and factor prices 1870-1940 has been collected, yielding annual time series on wage/rental ratios, land/labor ratios, the terms of trade, and other explanatory variables for: Argentina, Burma, Egypt, Japan, Korea, the Punjab, Taiwan, Thailand and...
Persistent link: https://www.econbiz.de/10012470966
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When Did Globalization Begin?
O'Rourke, Kevin H. - 2000
Some world historians attach globalization big bang' significance to 1492 (Christopher Colombus stumbles on the Americas in search of spices) and 1498 (Vasco da Gama makes an end run around Africa and snatches monopoly rents away from the Arab and Venetian spice traders). Such scholars are on...
Persistent link: https://www.econbiz.de/10012471135
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Globalization and International Public Finance
Kremer, Michael - 2000
This paper examines the effect of reduced transaction costs in the international trading of assets on the ability of governments to issue debt. We examine a model in which governments care about the welfare of their citizens, and thus are more inclined to default if a large proportion of their...
Persistent link: https://www.econbiz.de/10012471194
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An Economic Analysis of Transnational Bankruptcies
Bebchuk, Lucian Arye - 2000
This paper analyzes the effects of the legal rules governing transnational bankruptcies. We compare a regime of territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy -- with a regime of universality are adjudicated in a...
Persistent link: https://www.econbiz.de/10012471197
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Domestic Policies, National Sovereignty and International Economic Institutions
Bagwell, Kyle - 1999
To what extent must nations cede control over their economic and social policies if global efficiency is to be achieved in an interdependent world? This question is at the center of the debate over the future role of GATT (and its successor, the WTO) in the realm of labor and environmental...
Persistent link: https://www.econbiz.de/10012471491
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Is Globalization Today Really Different than Globalization a Hunderd Years Ago?
Bordo, Michael D. - 1999
This paper pursues the comparison of economic integration today and pre 1914 for trade as well as finance, primarily for the United States but also with reference to the wider world. We establish the outlines of international integration a century ago and analyze the institutional and...
Persistent link: https://www.econbiz.de/10012471593
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Regional Contagion and the Globalization of Securities Markets
Calvo, Guillermo A. - 1999
This paper argues that the globalization of securities markets may promote contagion among investors by weakening incentives for gathering costly country-specific information and by strengthening incentives for imitating arbitrary market portfolios. In the presence of short-selling constraints,...
Persistent link: https://www.econbiz.de/10012471634