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An evolutionary edge of knowing less (or: on the 'Curse' of global information)
Stark, Oded; Behrens, Doris A. - 2009
Consider a population of farmers who live around a lake. Each farmer engages in trade with his two adjacent neighbors. The trade is governed by a prisoner's dilemma 'rule of engagement'. A farmer's payoff is the sum of the payoffs from the two prisoner's dilemma games played with his two...
Persistent link: https://www.econbiz.de/10010271620
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The Impact of Tax, Product and Labour Market Distortions on the Phillips Curve and the Natural Rate of Unemployment
Bokan, Nikola; Hughes Hallett, Andrew - 2007
Most people accept that structural and labour market reforms are needed in Europe. However few have been undertaken. The usual conjecture is that reforms are costly in economic performance and costly to finance. Blanchard and Giavazzi (2003) and Spector (2004) develop a general equilibrium model...
Persistent link: https://www.econbiz.de/10010295250
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Measuring Real Value and Inflation
Hillinger, Claude - 2008
derive these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem …. For example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied … to a large aggregate of diverse consumers with non-homothetic preferences. In this paper I develop a unitary theory that …
Persistent link: https://www.econbiz.de/10010295262
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Measuring Real Value and Inflation
Hillinger, Claude - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-20, pp. 1-26
these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem a … example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied to a …
Persistent link: https://www.econbiz.de/10010295317
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Eastern Enlargement of the EU: A Comprehensive Welfare Assessment
Kohler, Wilhelm K. - 2004
This paper takes a welfare-view on eastern enlargement of the EU, focusing on incumbent countries. Enlargement is decomposed into three elements: Single-market integration on commodity markets, budgetary costs from EU-expenditure policies, and singlemarket- induced migration from new to present...
Persistent link: https://www.econbiz.de/10010295393
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Multinational Activity in a Macroeconomic Model of the Small Open Economy
Otto, Alkis Henri - 2004
We study the effects of FDI and increasing multinational activity utilizing a macroeconomic two-sector model of the small open economy with flexible exchange rates and perfect capital mobility. The focus is on horizontal greenfield investment and its impact on production, exchange rates, trade,...
Persistent link: https://www.econbiz.de/10010295439
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The impact of optimal tariffs and taxes on agglomeration
Ross, Matthias - 2002
This paper extends an economic geography model by tariffs to analyze their impact on welfare and sustainability of agglomerations. Policies with and without cooperation are compared, with the goal of maximizing aggregated welfare in the former and regional welfare in the latter case. The main...
Persistent link: https://www.econbiz.de/10010295554
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Welfare effects of demographic changes in a Ramsey growth model
Stiller, Silvia - 2000
Population ageing and decline are inescapable facts for Germany which are expected to have - especially due to the labour force decrease - negative impacts on the economy. In this context it is often referred to the possibility of countering potentially negative economic effects of population...
Persistent link: https://www.econbiz.de/10010295605
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Risk diversification and tax competition: The influence of risk correlations and tax provisions on tax competition
Berndt, Markus; Reichl, Bettina - 2000
From standard-portfolio-models the authors derive demand elasticities for risky assets, and combine the results with a simple non-cooperative model of tax competition between capital importing countries. They find that tax rates resulting from tax competition depend heavily on the correlations...
Persistent link: https://www.econbiz.de/10010295608
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Policy instrument choice and non-coordinated monetary in interdependent economies
Lombardo, Giovanni; Sutherland, Alan - 2004
Non-coordinated monetary policy is analysed in a stochastic two-country general equilibrium model. Non-coordinated equilibria are compared in two cases: one where policy is set in terms of state-contingent money supply rules and one where policy is set in terms of state-contingent nominal...
Persistent link: https://www.econbiz.de/10010295630