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Financial Markets, Financial Intermediation, and Bailout Policy
Vinogradov, Dmitri V. - 2006
an economy to the risk of a crisis, or what policy should regulators follow in order to prevent the crises, and what … to macroeconomic shocks, since it transfers and magnifies the impact of the shock into future periods through borrowing … the property of intertemporal shock smoothing, whereas financial markets concentrate the burden of the shock in one period …
Persistent link: https://www.econbiz.de/10009476251
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The problem of intergenerational equity in the field of national health insurance, analysed from the perspective of public choice theory
Dominick, Florian - 2008
bzw. wer von ihrer Umsetzung einen Nutzen hat.Zun?chst wird auf Grundlage der Theorie der Neuen Politischen ?konomik … evaluated from the point of view of public choice theory to see if, and if yes, to what extent, it is intergenerationally …
Persistent link: https://www.econbiz.de/10009485591
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Money and Growth in a Production Economy with Multiple Assets
Kaas, Leo; Weinrich, Gerd - 2003
, and equity. Because of productivity shocks, the equity return is uncertain, and risk-averse investors require a positive …
Persistent link: https://www.econbiz.de/10009471679
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Unemployment, Factor Substitution and Capital Formation
Kaas, Leo; Thadden, Leopold von - 2003
We incorporate a wage-bargaining structure in a dynamic general equilibrium model and show how this feature changes short- and long-run properties of equilibria compared with a perfectly competitive setting.We discuss how employment, capital and income shares respond to wage-setting shocks and...
Persistent link: https://www.econbiz.de/10009471681
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Productive government spending, growth, and sequential voting
Kaas, Leo - 2003
This paper considers an endogenous growth model with productive government spending in which overlapping generations of agents vote sequentially on policy. With sequential majority voting, there is a multiplicity of politico-economic equilibria originating from self-fulfilling policy...
Persistent link: https://www.econbiz.de/10009471682
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Intergenerational Discounting: A new Approach
Bayer, Stefan; Cansier, Dieter - 1998
In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...
Persistent link: https://www.econbiz.de/10009475344
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Pollution perception. An inquiry into intergenerational equity
Schuhmacher, Ingmar; Zou, Benteng - 2005
In this article we extend the recent literature on overlapping generations with a pollution sector by allowing generations to have a certain pollution perception with regards to the stock of pollution. Pollution perception, assumed to be part of the generations' preferences, can be either a...
Persistent link: https://www.econbiz.de/10009452479
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14.452 Economic Growth, Fall 2008
Acemoglu, Daron - 2008
Description This half semester class presents an introduction to macroeconomic modeling, focusing on the theory of economic growth …
Persistent link: https://www.econbiz.de/10009432111
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Fiscal policy, structural reforms and external imbalances : a quantitative evaluation for Spain
Gavilán González, Ángel; Hernández de Cos, Pablo; … - 2011
Este artículo considera un modelo de generaciones solapadas, aplicado a una economía pequeña, abierta al comercio internacional y caracterizada por la existencia de competencia imperfecta en los mercados de bienes y de trabajo, para analizar: i) cuáles fueron los principales determinantes de...
Persistent link: https://www.econbiz.de/10012530332
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From Bismarck to Beveridge : the other pension reform in Spain
Conde Ruiz, José Ignacio; González Martínez, Clara Isabel - 2014
El envejecimiento de la población es un proceso imparable que continúa suponiendo un reto para la sostenibilidad del sistema de reparto de pensiones en la mayoría de los países desarrollados, incluida España. Gran parte de estos países necesitan llevar a cabo reformas en sus sistemas de...
Persistent link: https://www.econbiz.de/10012530444