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Prices vs quantities: The case of risk averse agents

Baldursson, Fridrik M.; Fehr, Nils-Henrik M. von der - 2002

aversion in itself limits volumes of trade. The government may be able to improve the performance of a tradable quota system by …

Persistent link: https://www.econbiz.de/10010284398

Monte Carlo simulations of DEA efficiency measures and hypothesis tests

Kittelsen, Sverre A. C. - 1999

The statistical properties of the efficiency estimators based on Data Envelopment Analysis (DEA) are largely unknown. Recent work by Simar et al. and Banker has shown the consistency of the DEA estimators under specific assumptions, and Banker proposes asymptotic tests of whether two subsamples...

Persistent link: https://www.econbiz.de/10010284399

Optimal bailout during currency and financial crises: A sequential game analysis

Mundaca, Gabriela - 2002

of private-sector debt within a four-stage sequential game framework. In the first stage, the government announces its … stage 2 forms expectations about the future exchange rate and engages in risky investments. In stage 3, the government faces … in stage 4 and may or may not find it optimal to pre-emptively abandon its fixed exchange rate policy. The government can …

Persistent link: https://www.econbiz.de/10010284400

On the sustainable program in solow's model

Withagen, Cees; Asheim, Geir B.; Buchholz, Wolfgang - 2002

We show that our general result (Withagen and Asheim [8]) on the converse of Hartwick’s rule also applies for the special case of Solow’s model with one capital good and one exhaustible resource. Hence, the criticism by Cairns and Yang [1] of our paper is unfounded.

Persistent link: https://www.econbiz.de/10010284401

Monetary policy and nominal rigidities under low inflation

Holden, Steinar - 2001

In most European countries, nominal wages are given in collective agreements or individual employment contracts, and the employer cannot unilaterally cut wages, even after the expiration of a collective agreement. Ceteris paribus, workers have a stronger bargaining position when they try to...

Persistent link: https://www.econbiz.de/10010284410

Risk externalities in a payments oligopoly

Nilssen, Tore - 2000

This paper discusses an oligopoly where firms exert negative externalities upon each other. A theoretical model is developed for a market where these externalities are particularly relevant: the intra-day credit market, which is crucial for the operation of an efficient payments system. A...

Persistent link: https://www.econbiz.de/10010284411

Genetic testing when there is a mix of public and private health insurance

Hoel, Michael; Iversen, Tor - 2000

Genetic insurance can deal with the negative effects of genetic testing on insurance coverage and income distribution when the insurer has access to information about test status. Hence, efficient testing is promoted. When information about prevention and test status is private, two types of...

Persistent link: https://www.econbiz.de/10010284415

A note on inflation persistence

Holden, Steinar; Driscoll, John C. - 2001

In an important paper, Fuhrer and Moore (1995) showed that Taylor (1980)’s staggered wage setting model does not exhibit persistence in inflation; they proposed a simple modification, in which workers cared about the real wages of other workers, which solves this problem. However, we argue...

Persistent link: https://www.econbiz.de/10010284416

Genetic testing and repulsion from chance

Hoel, Michael; Iversen, Tor; Nilssen, Tore; Vislie, Jon - 2003

A central theme in the international debate on genetic testing concerns the extent to which insurance companies should be allowed to use genetic information in their design of insurance contracts. We analyze this issue within a model with the following important feature: A person’s well-being...

Persistent link: https://www.econbiz.de/10010284417

On the origins of data envelopment analysis

Førsund, Finn R.; Sarafoglou, Nikias - 2000

The concept “Data Envelopment Analysis” (DEA) was introduced in the journal literature by the highly influential 1978 paper of Charnes, Cooper, and Rhodes. In the subsequent literature the development of research leading up to this paper tended to be forgotten. However, studying this...

Persistent link: https://www.econbiz.de/10010284426