Fixed point theorems are the standard tool used to prove the existence of equilibria in mathematical economics. This paper shows how to prove a slight generalization of Brouwer's and Kakutani's fixed point theorems using the familiar techniques of drawing and shifting curves in the plane and is,...

Am 1. Mai 2004 traten zehn weitere Länder der Europäischen Union bei. Dieses Jahr folgten Bulgarien und Rumänien. Mit 27 Nationen ist nunmehr der weltweit größte Staatenbund und Wirtschaftsraum mit mehr als 500 Mill. Menschen entstanden. Drei Jahre nach der Osterweiterung ist es an der...

Der Sachverständigenrat empfiehlt eine moderate Absenkung des Regelsatzes des Arbeitslosengeldes II und Hinzuverdienstmöglichkeiten. Auch wird ein Workfare-Angebot vorgeschlagen, dessen Wahrnehmung zum Bezug des vollen Arbeitslosengeldes II berechtigt. Daneben ist die Senkung des...

This paper uses a micro-founded DSGE model to compare second-best optimal environmental policy and the resulting allocation to first-best allocation. The focus is on the source and size of uncertainty, and how this affects optimal choices and the inferiority of second best vis-à-vis first best.

We study the importance of uncertainty and public finance to the welfare ranking of three environmental policy instruments: pollution taxes, pollution permits and Kyoto-like numerical rules for emissions. The setup is the basic stochastic neoclassical growth model augmented with the assumptions...

This paper uses a micro-founded DSGE model to compare second-best optimal environmental policy, and the resulting Ramsey allocation, to first-best allocation. The focus is on the source and size of uncertainty, and how this affects optimal choices and the comparison between second- and...

We welfare rank different types of second-best environmental policy. The focus is on the roles of uncertainty and public finance. The setup is the basic stochastic neoclassical growth model augmented with the assumptions that pollution occurs as a by-product of output produced and environmental...