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A theoretical model is developed to describe the behavior of dependent and independent central banks. In an empirical test, the reaction functions of six central banks of industrial countries with different degrees of independence are estimated using an error correction framework. In shock...
Persistent link: https://www.econbiz.de/10010275457
This article investigates efficient policies against global warming in the case of multiple greenhouse gases. In a dynamic optimization model conditions for an efficient combination of greenhouse gases are derived. The model is empirically specified and adapted to a simulation approach. By...
Persistent link: https://www.econbiz.de/10010275458
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Mit diesem theoretischen Überblick wird die These vertreten, daß sowohl die Methode als auch die Organisation der Privatisierung aus polit-ökonomischen Erwägungen von den jeweiligen Politikern ausgewählt bzw. strukturiert wird, und nicht aus transaktionskostenökonomischen oder...
Persistent link: https://www.econbiz.de/10010275470
It has been argued in the literature that, interjurisdictional competition forces the public sector to increase its efficiency and thus helps to tame Leviathan governments. The paper addresses this hypothesis by means of a simple taxcompetition model with a Leviathan state. It is seen that the...
Persistent link: https://www.econbiz.de/10010275473
abwechseln. Man könnte die Drei-Zyklentheorie Paretos eine Theorie des sozialen Wandels nennen, in der die wellenförmigen …
Persistent link: https://www.econbiz.de/10010275475
The probability that an agent takes a certain action or a certain event occurs depends often on the actions taken by some agents. If this probability depends not only on current actions but on the sum of all past actions, these stock-dependent risks imply an intertemporal effect. In the present...
Persistent link: https://www.econbiz.de/10010275478
The paper presents an analysis of spatial competition between two firms in a circular market. It is shown that the existence problem of a Bertrand-Nash- Equilibrium exists for the circular market in the same way as for the linear and bounded market. This is demonstrated by directly studying the...
Persistent link: https://www.econbiz.de/10010275481
This paper tries to clear the confusion in the literature about the potential of environmental tax reforms to yield a double dividend. In opposition to a number of recent papers it is found that the possibility for a double dividend depends largely on the substitutabllity characteristics of...
Persistent link: https://www.econbiz.de/10010275483