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Schuknecht, Ludger - 2004

The paper analyses the EU fiscal rules from a political economy perspective and derives some policy lessons. Following a literature survey, the paper stresses the importance of appropriate incentives for rule compliance in an environment where national fiscal sovereignty precludes the option of...

Persistent link: https://www.econbiz.de/10009639482

Myopic governments and welfare-enhancing debt limits

Rieth, Malte - 2011

This paper studies welfare consequences of a soft borrowing constraint on sovereign debt which is modeled as a proportional fine per unit of debt exceeding some reference value. Debt is the result of myopic fiscal policy where the government is assumed to have a smaller discount factor than the...

Persistent link: https://www.econbiz.de/10009640642

Optimal dynamic risk sharing when enforcement is a decision variable

Koeppl, Thorsten V. - 2003

decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions … prevent ﬁrst-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …

Persistent link: https://www.econbiz.de/10009635888

Growth expectations, capital flows and international risk sharing

Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003

international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …

Persistent link: https://www.econbiz.de/10009635970

Late lessons from early warnings

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

This report is about gathering information on the hazards raised by human economic activities and its use in taking action to protect better the environment and the health of the species and ecosystems that are dependent on it. The study aims to contribute to better and more accessible...

Persistent link: https://www.econbiz.de/10009635974

Späte Lehren aus frühen Warnungen

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

Persistent link: https://www.econbiz.de/10009636105

Signaux précoces et leçons tardives

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

Persistent link: https://www.econbiz.de/10009636106

Risk sharing through financial markets with endogenous enforcement of trades

Köppl, Thorsten V. - 2004

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … allow for optimal risk sharing as long as markets are complete, default is prevented in equilibrium and intermediaries …

Persistent link: https://www.econbiz.de/10009636542

CBRN case study

Centre for Strategy & Evaluation Services <Sevenoaks> - 2011

Persistent link: https://www.econbiz.de/10009640654

Light Sensitivity

Europäische Kommission / Scientific Committee on … - 2008

Within the context of the promotion of wide-spread use of energy saving lamps, such as compact fluorescent lamps (CFLs), and the possible phase-out of incandescent lamps, it has been claimed that the symptoms of several diseases may be aggravated in the presence of energy saving lamps (mainly...

Persistent link: https://www.econbiz.de/10009641033