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Consumption dynamics and welfare under non-Gaussian earnings risk
Guvenen, Fatih; Ozkan, Serdar; Madera, Rocio - 2024
Recent empirical studies document that the distribution of earnings changes displays substantial deviations from lognormality: in particular, earnings changes are negatively skewed with extremely high kurtosis (long and thick tails), and these non-Gaussian features vary substantially both over...
Persistent link: https://www.econbiz.de/10014543845
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Consumption dynamics and welfare under non-Gaussian earnings risk
Guvenen, Fatih; Madera, Rocio; Ozkan, Serdar - 2024
Persistent link: https://www.econbiz.de/10014521342
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The Value of Private Safety Versus the Value of Public Safety
Johannesson, Magnus; Johansson, Per-Olov; O'Conor, … - 1998
In this study we report an attempt to measure the WTP of car owners for a reduction of the probability of being killed in a traffic accident. One group of respondents is offered a safety device to be installed in their car, while another group is offered a public safety program (improved road...
Persistent link: https://www.econbiz.de/10014073639
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The Value of Private Safety Versus the Value of Public Safety
Johannesson, Magnus; Johansson, Per-Olov; O'Conor, … - 1998
In this study, one group of respondents is offered to purchase a safety device to be installed in their car, while another group is offered a public safety program (improved road quality) which results in the same size risk reduction. In terms of the value of a statistical life, our results are...
Persistent link: https://www.econbiz.de/10014080921
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Sustainable Economic Development and the Environment : Theory and Evidence
Bertinelli, Luisito; Strobl, Eric; Zou, Benteng - 2006
The relationship between growth and pollution is studied through a vintage capital model, where new technologies are … achieve two possible cases of sustainable development, one in which pollution falls and another in which it stabilizes, or a … heterogenous experiences in the pollution-output relationship …
Persistent link: https://www.econbiz.de/10014056215
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Measuring the benefit-cost ratio of public IPM technology transfer programs : an optimal control framework and an application to Nepalese agriculture
Wiebelt, Manfred - 2000
Despite favourable ecological and economic results, many developing countries have not yet adopted an integrated pesticide management (IPM). Given rising marginal costs and diminishing marginal benefits from IPM technology transfer, an optimal control framework is used to identify optimal rates...
Persistent link: https://www.econbiz.de/10011477074
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Trade reform and environmental externalities in general equilibrium : analysis for an archetype poor tropical country
López, Ramón - In: Environment and development economics 5 (2000) 4, pp. 377-404
Persistent link: https://www.econbiz.de/10001532266
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On the welfare cost of consumption fluctuations in the presence of memorable goods
Hai, Rong; Krueger, Dirk; Postlewaite, Andrew - 2013
We propose a new classification of consumption goods into nondurable goods, durable goods and a new class which we call "memorable" goods. A good is memorable if a consumer can draw current utility from its past consumption experience through memory. We construct a novel consumption-savings...
Persistent link: https://www.econbiz.de/10010208579
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Wage risk, employment risk and the rise in wage inequality
Mecikovsky, Ariel Matias; Wellschmied, Felix - 2016
We estimate the changes in US male labor market risk over the last three decades in a model of endogenous labor supply and job mobility. Across education groups permanent shocks to productivity have become more dispersed. Moreover, heterogeneity in pay across offered jobs has increased for...
Persistent link: https://www.econbiz.de/10011595910
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Quality Overprovision in Cable Television Markets
Crawford, Gregory S. - 2018
We measure the welfare distortions from endogenous quality choice in imperfectly competitive markets. For U.S. cable-television markets between 1997-2006, prices are 33% to 74% higher and qualities 23% to 55% higher than socially optimal. Such quality overprovision contradicts classic results in...
Persistent link: https://www.econbiz.de/10012922886