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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 through financial markets when enforcement is based on the...

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

Intergenerational altruism and neoclassical growth models

Michel, Philippe; Thibault, Emmanuel; Vidal, Jean-Pierre - 2004

This paper surveys intergenerational altruism in neoclassical growth models. It first examines Barro's approach to … intergenerational altruism, whereby successive generations are linked by recursive altruistic preferences. Individuals have an … intergenerational altruism. Other forms of altruism, referred to as ad hoc altruism, are also examined, along with their implications …

Persistent link: https://www.econbiz.de/10009639441

Behavioural economics and taxation

Weber, Till Olaf - European Commission / Directorate General for Taxation …; … - 2014

Persistent link: https://www.econbiz.de/10010343060

Tax compliance social norms and institutional quality : an evlolutionary theory of public good provision

Nicolaides, Panayiotis - 2014

Persistent link: https://www.econbiz.de/10010478775

Information acquisition and decision making in committees

Gerling, Kerstin; Grüner, Hans Peter; Kiel, Alexandra; … - 2003

This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Moreover, we review recent experimental...

Persistent link: https://www.econbiz.de/10009635876

Government deficits, wealth effects and the price level in an optimizing model

Annicchiarico, Barbara - 2003

This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

Persistent link: https://www.econbiz.de/10009635879

Implementing optimal control in cointegrated I(1) structural VAR models

Monti, Francesca V. - 2003

This paper examines the feasibility of implementing Linear Quadratic Gaussian (LQG) Control in structural cointegrated VAR models and sheds some light on the two major problems generated by such implementation. The first aspect to be taken into account is the effect of the presence of unit roots...

Persistent link: https://www.econbiz.de/10009635883

Monetary and fiscal interactions in open economies

Lombardo, Giovanni; Sutherland, Alan - 2003

A two-country sticky-price model is used to analyse the interactions between fiscal and monetary policy. The role of an u0091activistu0092 fiscal policy as a stabilisation tool is considered and a measure of the welfare gains from international fiscal policy cooperation is derived. It is found...

Persistent link: https://www.econbiz.de/10009635884

Inflation persistence and robust monetary policy design

Coenen, Günter - 2003

This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inﬂation process. The paper focuses on the euro area and utilises two variants of...

Persistent link: https://www.econbiz.de/10009635885

Inflation, factor substitution and growth

Klump, Rainer - 2003

already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining …

Persistent link: https://www.econbiz.de/10009635886