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instruments and impacts on farm return and welfare. Unlike other studies this paper models farming response to payments in terms … government objective, for instance risk reduction versus farmers’ welfare. …
Persistent link: https://www.econbiz.de/10009444854
instruments and impacts on farm return and welfare. Unlike other studies this paper models farming response to payments in terms … government objective, for instance risk reduction versus farmers’ welfare. …
Persistent link: https://www.econbiz.de/10009445923
Standard tools for the analysis of economic problems involving uncertainty, including risk premiums, certainty equivalents and the notions of absolute and relative risk aversion, are developed without making specific assumptions on functional form beyond the basic requirements of monotonicity,...
Persistent link: https://www.econbiz.de/10009448030
Persistent link: https://www.econbiz.de/10011280253
Persistent link: https://www.econbiz.de/10011381762
Persistent link: https://www.econbiz.de/10011306007
We ask whether a PAYG-financed social security system is welfare improving in an economy with idiosyncratic and … with a contribution rate of two percent leads to welfare gains of 2.2% of lifetime consumption in expectation, despite … substantial crowding out of capital. This welfare gain stands in contrast to the welfare losses documented in the previous …
Persistent link: https://www.econbiz.de/10010359333
prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost … structure. I show that one cannot determine which regulatory instrument that induces the highest expected welfare based on the …
Persistent link: https://www.econbiz.de/10010238324
We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government. Shocks are smoothed via the public debt and variations...
Persistent link: https://www.econbiz.de/10010238325
We ask whether a PAYG-financed social security system is welfare improving in an economy with idiosyncratic and … with a contribution rate of two percent leads to welfare gains of 2.2% of lifetime consumption in expectation, despite … substantial crowding out of capital. This welfare gain stands in contrast to the welfare losses documented in the previous …
Persistent link: https://www.econbiz.de/10010374428