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Persistent link: https://www.econbiz.de/10000558864
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
There is strong evidence that different income groups consume different bundles of goods. This evidence suggests that trade liberalization can affect welfare inequality within a country via changes in the relative prices of goods consumed by different income groups (the price effect). In this...
Persistent link: https://www.econbiz.de/10003964980
This paper analyzes how changing the expected length of intellectual property right (IPR) protection affects growth and the welfare of rich and poor consumers. The analysis is based on a product-variety model with non-homothetic preferences and endogenous markups in which, in accordance with...
Persistent link: https://www.econbiz.de/10011443629
Persistent link: https://www.econbiz.de/10011699744
This paper analyzes how changing the expected length of intellectual property (IP) protection affects economic growth and the welfare of rich and poor consumers. The analysis is based on a product-variety model with non-homothetic preferences and endogenous markups in which, in accordance with...
Persistent link: https://www.econbiz.de/10011700533
Persistent link: https://www.econbiz.de/10000871434
Persistent link: https://www.econbiz.de/10000626267
Persistent link: https://www.econbiz.de/10000607727