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Risk and Rationality : Uncovering Heterogeneity in Probability Distortion
Bruhin, Adrian; Fehr-Duda, Helga; Epper, Thomas - 2009
It has long been recognized that there is considerable heterogeneity in individual risk taking behavior but little is known about the distribution of risk taking types. We present a parsimonious characterization of risk taking behavior by estimating a finite mixture regression model for three...
Persistent link: https://www.econbiz.de/10014207351
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Income distribution and the multiplier: An exploration of nonlinear distribution effects in linear Kaleckian distribution and growth models
Prante, Franz J. - 2019
In this paper, I show that the income-autonomous demand multiplier of Keynesian-Kaleckian models is endogenous to … certain conditions, an important consequence from the distribution-sensitive multiplier is that a higher wage share can have …-Kaleckian macroeconomic models. After a theoretical discussion on the implications of the distribution-sensitive multiplier in basic closed …
Persistent link: https://www.econbiz.de/10012061718
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Do the CAP Subsidies Increase Employment in Sweden? Estimating the Open Economy Relative Multiplier Using an Exogenous Change in the CAP
Blomquist, Johan; Nordin, Martin - 2013
-order effect. Thus, the Open Economy Relative Multiplier for Sweden is estimated with aggregate municipality data for the years …
Persistent link: https://www.econbiz.de/10013208668
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Reading Keynes in Buenos Aires: Prebisch and the dynamics of capitalism
Pérez Caldentey, Esteban; Vernengo, Matías - 2013
' General Theory of Employment, Interest and Money, in particular on the theory of interest and the multiplier. His attitude can …
Persistent link: https://www.econbiz.de/10010369478
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Income distribution macroeconomics
Giovannoni, Olivier - 2014
distribution. The cost of modifying existing models is low compared to the benefits. We find, analytically, that (1) the multiplier …
Persistent link: https://www.econbiz.de/10010513043
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Keynes's employment function and the gratuitous Phillips curve disaster
Kakarot-Handtke, Egmont - 2013
Keynes had many plausible things to say about unemployment and its causes. His "mercurial mind", though, relied on intuition, which means that he could not strictly prove his hypotheses. This explains why Keynes's ideas immediately invited bastardizations. One of them, the Phillips curve...
Persistent link: https://www.econbiz.de/10010513068
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Arresting financial crises: The fed versus the classicals
Humphrey, Thomas M. - 2013
Nineteenth-century British economists Henry Thornton and Walter Bagehot established the classical rules of behavior for a central bank, acting as lender of last resort, seeking to avert panics and crises: Lend freely (to temporarily illiquid but solvent borrowers only) against the security of...
Persistent link: https://www.econbiz.de/10010318640
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De facto fiscal space and fiscal stimulus: Definition and assessment
Aizenman, Joshua; Jinjarak, Yothin - 2010
We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...
Persistent link: https://www.econbiz.de/10010287767
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De facto fiscal space and fiscal stimulus: Definition and assessment
Aizenman, Joshua; Jinjarak, Yothin - 2010
We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...
Persistent link: https://www.econbiz.de/10010288141
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Quantitative valuation of platform technology based intangibles companies
Achleitner, Ann-Kristin; Nathusius, Eva; Schraml, Stephanie - 2007
In the course of raising external equity, e.g. from venture capitalists, a quantitative valuation is usually required for entrepreneurial ventures. This paper examines the challenges of quantitatively valuing platform technology based entrepreneurial ventures. The distinct characteristics of...
Persistent link: https://www.econbiz.de/10010305698