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An intergenerational issue: The equity issues due to Public-Private Partnerships. The critical aspect of the Social Discount Rate choice for future generations

Al Yaqoobi, Abeer; Ausloos, Marcel - In: Journal of Risk and Financial Management 15 (2022) 2, pp. 1-26

This paper investigates the impact of Social Discount Rate (SDR) choice on intergenerational equity issues caused by Public-Private Partnerships (PPPs) projects. Indeed, more PPPs mean more debt being accumulated for future generations leading to a fiscal deficit crisis. The paper draws on how...

Persistent link: https://www.econbiz.de/10013201353

Psychophysical interpretation for utility measures

He, Yuqing - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-29, pp. 1-35

The paper explores utility measures by combining experiments with mathematical derivations in the psychophysics … paradigm. The analysis on the ultimatum game experiment reveals evidences for the utility threshold and thus supports Bernoulli …'s utility logarithmic law. Both experimental results and theoretical derivations show that the logarithmic law is suitable for …

Persistent link: https://www.econbiz.de/10010309604

Privatisation Experiences in France

Berne, Michel; Pogorel, Gérard - In: CESifo DICE Report 03 (2005) 1, pp. 33-40

Persistent link: https://www.econbiz.de/10011696497

Competition in the quality of higher education: the impact of student mobility

Demange, Gabrielle; Fenge, Robert; Uebelmesser, Silke - In: International Tax and Public Finance 27 (2020) 5, pp. 1224-1263

In the last years, there has been a shift toward more private financing of higher education in many countries. At the same time, student mobility has substantially increased. This paper analyzes in a two-region model the impact of student mobility on region-specific higher education quality with...

Persistent link: https://www.econbiz.de/10014504409

Financial stability, wealth effects and optimal macroeconomic policy combination in the United Kingdom: A new-Keynesian dynamic stochastic general equilibrium framework

Nasir, Muhammad Ali; Yago, Milton; Soliman, Alaa M.; … - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-25

This study derives an optimal macroeconomic policy combination for financial sector stability in the United Kingdom by employing a New Keynesian Dynamic Stochastic General Equilibrium (NK-DSGE) framework. The empirical results obtained show that disciplined fiscal and accommodative monetary...

Persistent link: https://www.econbiz.de/10011559194

The universal shape of economic recession and recovery after a shock

Challet, Damien; Solomon, Sorin; Yaari, Gur - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-36, pp. 1-24

We show that a simple and intuitive three-parameter equation fits remarkably well the evolution of the gross domestic product (GDP) in current and constant dollars of many countries during times of recession and recovery. We then argue that this equation is the response function of the economy...

Persistent link: https://www.econbiz.de/10010299170

A DSGE model for a SOE with systematic interest and foreign exchange policies in which policymakers exploit the risk premium for stabilization purposes

Escudé, Guillermo J. - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-30, pp. 1-110

This paper builds a DSGE model for a small open economy (SOE) in which the central bank intervenes the domestic currency bond and FX markets using two policy rules: a Taylor-type rule and a rule that determines the rate of nominal depreciation. The 2 'corner' regimes, in which only one policy...

Persistent link: https://www.econbiz.de/10010317972

The timing of optimal capital income tax reforms: The role of intangible capital investment

Conesa, Juan Carlos; Domínguez, Begoña - In: SERIEs - Journal of the Spanish Economic Association 10 (2019) 3/4, pp. 419-438

This paper studies the role of intangible capital investment in the timing of optimal capital income tax reforms. Within an infinitely lived worker-capitalist model as in Judd (J Public Econ 28:59-83, 1985), we consider two different economies: one in which capitalists devote physical...

Persistent link: https://www.econbiz.de/10014496056

The possible trinity: Optimal interest rate, exchange rate, and taxes on capital flows in a DSGE model for a small open economy

Escudé, Guillermo J. - In: Economics: The Open-Access, Open-Assessment E-Journal 8 (2014) 2014-25, pp. 1-58

A traditional way of thinking about the exchange rate (XR) regime and capital account openness has been framed in terms of the 'impossible trinity' or 'trilemma', in which policymakers can only have 2 of 3 possible outcomes: open capital markets, monetary independence and pegged XRs. This paper...

Persistent link: https://www.econbiz.de/10010378319

Discounting for Climate Change

Yohe, Gary W.; Tol, Richard S. J.; Anthoff, David - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-24, pp. 1-22

numerically just as important in considerations of anthropogenic climate change. The elasticity of the marginal utility with …

Persistent link: https://www.econbiz.de/10010298642