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Unemployment and portfolio choice: Does persistence matter?

Bremus, Franziska M.; Kuzin, Vladimir - 2011

Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming unemployed. These hedging mechanisms are used differently across countries. In this paper, we use a life cycle model to study the effects of unemployment on the portfolio choice of...

Persistent link: https://www.econbiz.de/10010286436

All you need is trade: On the in(ter)dependence of trade and asset holdings in gravity equations

Kleinert, Jörn; Neugebauer, Katja - 2012

This paper looks at the interrelationship between trade in goods and asset holdings, as brought forward by some contributions to the empirical literature in international economics. These contributions argue that single-equation gravity models suffer from an endogeneity bias, culminating in a...

Persistent link: https://www.econbiz.de/10010286439

Endogenous transport costs in international trade

Kleinert, Jörn; Spies, Julia - 2011

In this paper we claim that distance alone is a poor proxy for international transport costs in empirical studies. We model a manufacturing and a transport sector and let the level of manufacturing exports determine the demand for transport services. Above a particular trade level, transport...

Persistent link: https://www.econbiz.de/10010286440

International sourcing, product complexity and intellectual property rights

Naghavi, Alireza; Spies, Julia; Toubal, Farid - 2011

In this paper, we propose the technological complexity of a product and the level of Intellectual Property Rights (IPRs) protection to be the co-determinants of the mode through which multinational firms purchase their goods. We study the choice between intra-firm trade and outsourcing given...

Persistent link: https://www.econbiz.de/10010286441

Thomes, Tim Paul - 2010

This paper presents a theory of vertically interrelated markets of identical fixed size under implementation of …

Persistent link: https://www.econbiz.de/10010286453

Procedurally fair provision of public projects: An axiomatic characterization

Güth, Werner; Kliemt, Hartmut - 2011

Unanimous voting as the fundamental procedural source of political legitimacy grants veto power to each individual. We present an axiomatic characterization of a class of bidding processes to spell out the underlying egalitarian values for collective projects of a productive state. At heart of...

Persistent link: https://www.econbiz.de/10010286454

Money

Wray, L. Randall - 2010

possible. These three propositions are used to build a theory of money that is linked to common themes in the heterodox …'s approach, which relies on accounting identities; the K distribution theory of Keynes, Michal Kalecki, Nicholas Kaldor, and …

Persistent link: https://www.econbiz.de/10010286493

Extrinsic rewards and intrinsic motives: Standard and behavioral approaches to agency and labor markets

Rebitzer, James B.; Taylor, Lowell J. - 2010

Employers structure pay and employment relationships to mitigate agency problems. A large literature in economics documents how the resolution of these problems shapes personnel policies and labor markets. For the most part, the study of agency in employment relationships relies on highly...

Persistent link: https://www.econbiz.de/10010286501

A post Keynesian perspective on the rise of Central Bank independence: A dubious success story in monetary economics

Bibow, Jörg - 2010

This paper critically assesses the rise of central bank independence (CBI) as an apparent success story in modern monetary economics. As to the observed rise in CBI since the late 1980s, we single out the role of peculiar German traditions in spreading CBI across continental Europe, while its...

Persistent link: https://www.econbiz.de/10010286503

International trade theory and policy: A review of the literature

Sen, Sunanda - 2010

This paper provides a survey of the literature on trade theory, from the classical example of comparative advantage to … verifications and logical critiques. A useful supplement is provided in terms of Staffan Linder's theory of overlapping demand … trade theory, with strategic trade providing inputs to industrial policy. Issues relating to trade, growth, and development …

Persistent link: https://www.econbiz.de/10010286543