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In recent years there has been a renewed effort to ground conventional law and economics methodology, with its exclusive focus on efficiency and income redistribution through the tax system, in modern welfare economics ( Kaplow & Shavell 1994, 2001 ). This effort raises a challenge to the...
Persistent link: https://www.econbiz.de/10013136936
In recent years there has been a renewed effort to ground conventional law and economics methodology, with its exclusive focus on efficiency and income redistribution through the tax system, in modern welfare economics (Kaplow & Shavell 1994, 2001). This effort raises a challenge to the...
Persistent link: https://www.econbiz.de/10014061388
Persistent link: https://www.econbiz.de/10000626083
State-owned enterprises (SOEs) are often vertically integrated firms which operate in key industries like transport, telecommunication and power generation. They provide an infrastructure and invest in its quality. We discuss the effects of liberalization and their privatization which can be...
Persistent link: https://www.econbiz.de/10003871843
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This paper presents a welfare analysis of several capital insurance programs in a rational expectation equilibrium setting. We first explicitly characterize the equilibrium of each capital insurance program. Then, we demonstrate that a capital insurance program based on aggregate loss is better...
Persistent link: https://www.econbiz.de/10010199026
itself. This description of entrepreneurship echoes Weber’s (1958 ) description of the “spirit of capitalism,” which states … implications of the spirit of capitalism on monetary policy, growth, and welfare in a Schumpeterian growth model. Different from … the spirit of capitalism is strong. Furthermore, we show the optimal nominal interest rate decreases with the strength of …
Persistent link: https://www.econbiz.de/10014090822
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