Using an applied general equilibrium of the Swiss economy the economic consequences of an environmental tax reform are analysed. Such a reform is followed by a substantial reduction of CO2 emissions and the use of non-renewable energy (first dividend), and a reduction of involuntary...

Because it is possible to find for any political position economists who defend it (for money), economists giving policy advice are in the general public often accused of being corruptible. The purpose of this paper is to show that nevertheless it is possible that the process of policy advice...

In 2007, the Wall Street Journal published an article claiming that each execution saves more than 70 lives. This example is used to show how easy it is, using simple or advanced econometric techniques, to produce results that do or do not support the deterrence hypothesis. Moreover, we also...

This article contributes to the literature on stock market integration by developing and estimating a capital asset pricing model with segmentation effects in order to assess stock market segmentation and its effects on risk premia at the regional level. We show that the estimated degrees of...

Mit Daten für den Zeitraum von 1973 bis 1997 lassen sich für Deutschland Ergebnisse für den Zusammenhang zwischen der Zinsstruktur und der Differenz zwischen lang- und kurzfristigen Inflationsraten erzielen, die den Ergebnissen von Mishkin für die USA weitgehend entsprechen. Dieses Ergebnis...