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Can monetary valuation undermine nature conservation? : evidence from a decision experiment

Rode, Julian; Le Menestrel, Marc; Cornelissen, Gert - 2015

Nature conservation scientists and practitioners have voiced the concern that a conservation discourse based on economic arguments and monetary valuation may undermine conservation efforts by eroding ("crowding out") the influence of other arguments for nature conservation. This paper presents...

Persistent link: https://www.econbiz.de/10011279993

Optimal Monetary Policy with Redistribution

La'O, Jennifer; Morrison, Wendy A. - National Bureau of Economic Research - 2024

We study optimal monetary policy in a general equilibrium economy with heterogeneous agents and nominal rigidities. Households differ in type-specific, state-contingent labor productivity and initial firm ownership, yet markets are complete. The fiscal authority has access to a linear tax...

Persistent link: https://www.econbiz.de/10015072863

How To De-reserve Reserves

Aygun, Orhan; Turhan, Bertan - 2021

Reserve systems have been designed and implemented for numerous real-world resource allocation problems. Often, de-reservation policies accompany reserve systems to prevent waste in instances of low demand for exclusive reserve categories. De-reservation policies must be executed carefully so...

Persistent link: https://www.econbiz.de/10013240819

Efficient and Universal Frameworks (EUF) for Monetary Policy Implementation

Bindseil, Ulrich; Würtz, Flemming Reinhardt - 2023

Compared with the period 1920-1990, the current monetary policy implementation techniques are relatively well-focused and transparent. In particular, (i) they mostly aim at achieving a well defined operational target (typically the overnight interest rate), (ii) monetary policy operations are...

Persistent link: https://www.econbiz.de/10014350295

Dynamic assignment without money : Optimality of spot mechanisms

Combe, Julien; Nora, Vladyslav; Tercieux, Olivier - 2021

We study a large market model of dynamic matching with no monetary transfers and a continuum of agents. Time is discrete and horizon finite. Agents are in the market from the first date and, at each date, have to be assigned items (or bundles of items). When the social planner can only elicit...

Persistent link: https://www.econbiz.de/10013217482

Optimal Top- n Policy

Hafalir, Isa Emin; Pan, Siqi; Tomoeda, Kentaro - 2022

The efficacy of the widely-adopted “top-n” policy in university integration has been questioned because students … eligibility requirement, featuring the minimum time students must spend at a high school in order to be eligible for top … requirement depends on the original distribution of students across high schools …

Persistent link: https://www.econbiz.de/10013298853

Strategic interactions between fiscal and monetary authorities in a multi-country new-Keynesian model of a monetary union

Michalak, Tomasz; Engwerda, Jacob Christiaan; Plasmans, … - 2009

In this paper we consider a number of key issues related to the policy coordination in a monetary union that has been recently discussed in the literature. To this end we propose a multi-country New-Keynesian model of a monetary union cast in the framework of linear quadratic differential games....

Persistent link: https://www.econbiz.de/10003807838

Staying together or breaking apart : policy-makers endogenous coalitions formation in the European economic and monetary union

Aarle, Bas van; Di Bartolomeo, Giovanni; Engwerda, … - 2002

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...

Persistent link: https://www.econbiz.de/10011410410

Hayek Money : The Cryptocurrency Price Stability Solution

Ametrano, Ferdinando M. - 2016

Bitcoin has enabled competition between digital cryptocurrencies and traditional legal tender fiat currencies. Despite rapidly increasing acceptance, so far the affirmation of cryptocurrency as better money has been thwarted by dramatic deflationary price instability. Successful at disposing of...

Persistent link: https://www.econbiz.de/10013006540

Dealing with Uncertainty : Robust Rules in Monetary Policy

Demertzis, Maria - 2011

We argue that in seeking to insure against model uncertainty, monetary policy makers are often ready to trade ex-post performance for greater certainty in the outcome. They thus look for rules that although not optimal ex post, have certain properties that qualify them as robust. We apply first,...

Persistent link: https://www.econbiz.de/10012756968

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