exchange rate movements, international price level differentials, output stimulation, and welfare effects. Since Mundell (1963 … entire absence of microfoundations results in the use of ad-hoc welfare criteria for the evaluation of alternative policy … microfoundations with the MF assumption of nominal rigidities. This approach allows for an explicit welfare analysis on the basis of …

"We develop an evolutionary game theory model for a limited access common pool resource. With full disclosure of …

Reformen auf die Einkommensverteilung maßgeblich ab. Dies legt den Schluss nahe, dass eine Reform des gegenwärtigen … fully dynamic model class overlapping generations of Fehr (1999) enabling a decomposition of welfare effects into efficiency …

-wide welfare and two fiscal authorities minimizing comparable, but slightly different country-wide losses. The rivalry between the … three authorities is analyzed in seven static games. Comparing a homogeneous with a heterogeneous monetary union, welfare …

Consumer Tendency Survey fall within these bounds throughout the whole sample period. Moreover we show that, as Fisher's theory …

basic economic equations and the policy makers’ welfare functions are derived. In a reduced-form macro model, it is shown … that welfare losses are significantly higher in a heterogeneous scenario compared to the homogeneous reference case. The …