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Economic development and family structure: From pater familias to the nuclear family

Pensieroso, Luca; Sommacal, Alessandro - In: European Economic Review 71 (2014) C, pp. 80-100

We provide a theory of the interaction between intergenerational living arrangements and economic development. We show that, when technical progress is fast enough, the economy experiences a shift from stagnation to growth, there is a transition from coresidence to non-coresidence, and the...

Persistent link: https://www.econbiz.de/10010939664

Chile; Institutions and Policies Underpinning Stability and Growth

Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004

This paper presents the primary institutions and economic policies that have led to Chileâ€™s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

Persistent link: https://www.econbiz.de/10005767351

Boom–bust cycles: Leveraging, complex securities, and asset prices

Semmler, Willi; Bernard, Lucas - In: Journal of Economic Behavior & Organization 81 (2012) 2, pp. 442-465

leverage cycles, is explicit. We first discuss the extent to which complex securities can amplify boom–bust cycles. Then, we …Recent history suggests that many boom–bust cycles are naturally driven by linkages between the credit market and asset … propose a model in which distinct financial market boom–bust cycles emerge naturally. We demonstrate the interaction of …

Persistent link: https://www.econbiz.de/10010576931

Boom-Bust Cycles: Leveraging, Complex Securities, and Asset Prices

Semmler, Willi; Bernard, Lucas - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2011

leverage cycles, is explicit. We first discuss the extent to which complex securities can amplify boom-bust cycles. Then, we …Recent history suggests that many boom-bust cycles are naturally driven by linkages between the credit market and asset … propose a model in which distinct financial market boom-bust cycles emerge naturally. We demonstrate the interaction of …

Persistent link: https://www.econbiz.de/10011124046

Bargaining power and efficiency in insurance contracts

Quiggin, John; Chambers, Robert G. - 2009

Insurance contracts are frequently modelled as principal–agent relationships. The purpose of this paper is to examine the interaction between differential bargaining power and the efficiency of insurance contracts. The analysis is undertaken in a framework of state-contingent production, which...

Persistent link: https://www.econbiz.de/10009448647

Agent Change and Seller Bargaining Power: A Case of Principal Agent Problem in the Housing Market

Daneshvary, Nasser; Clauretie, Terrence - In: The Journal of Real Estate Finance and Economics 47 (2013) 3, pp. 416-433

When a seller hires an agent to sell his/her property, a successful outcome depends on the list price, marketing time, unobserved relative bargaining power of the buyers and sellers, and the effort levels of the seller and the seller’s agent. A divergence with respect to the list/transaction...

Persistent link: https://www.econbiz.de/10010989356

The middle class in macroeconomics and growth theory: A three class neo-Kaleckian ? Goodwin model

Palley, Thomas I. - Institut für Makroökonomie und Konjunkturforschung … - 2014

This paper presents a three class growth model with labor market conflict. The classes are workers, a middle management middle class, and a "top" management capitalist class. The model introduces personal income distribution that supplements conventional concerns with functional income...

Persistent link: https://www.econbiz.de/10010858919

Pipeline Power

Hubert, Franz; Cobanli, Onur - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2012

Germany and Russia. The additional leverage obtained through South Stream, in contrast, appears small. The third project …

Persistent link: https://www.econbiz.de/10010859364

Reserve currencies: Can multiplicity work?

Gupta, Satyendra Kumar; Goyal, Ashima - Indira Gandhi Institute of Development Research (IGIDR) - 2014

The paper analyzes the potential rise of new reserve currencies in the context of the economic and political determinants of an international currency. Two models analyze the role of soft political power, switching costs to a new currency and transaction costs in the rise of a new currency....

Persistent link: https://www.econbiz.de/10010860133

Auctions with resale and bargaining power

Cheng, Harrison - In: Journal of Mathematical Economics 47 (2011) 3, pp. 300-308

We show that when the weak bidder’s bargaining power in the resale market is weakened, the auctioneer’s revenue from the first-price auction with resale is lower. Using the idea of Coase Theorem, we show that when the resale market is a sequential bargaining model with no commitment, the...

Persistent link: https://www.econbiz.de/10010875242

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