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The Macroeconomic Implications of Deficit Financing Under Present Bias

Kim, Eungsik; Lee, Donghyun - 2022

We analyze the effects of present bias on the deficit and inflation when the government finances the deficit using a seigniorage tax. We also examine how introducing present bias affects the welfare implications of the deficit in the long run. For this, we consider a three-period monetary...

Persistent link: https://www.econbiz.de/10014264694

Characterization of the Multi-Group Gini Segregation Index

Andreoli, Francesco; Zoli, Claudio - 2022

Segregation analysis is concerned with the way in which mutually exclusive groups, gathering individuals sharing similar characteristics (such as their ethnic, linguistic or parental background) are dissimilarly distributed across non-overlapping organizational units (such as neighborhoods of a...

Persistent link: https://www.econbiz.de/10014264695

Two-Phase Selection of Representative Contracts for Valuation of Large Variable Annuity Portfolios

Jiang, Ruihong; Saunders, David; Weng, Chengguo - 2022

A computationally appealing methodology for the valuation of large variable annuities portfolios is a metamodelling framework that evaluates a small set of representative contracts, fits a predictive model based on these computed values, and then extrapolates the model to estimate the values of...

Persistent link: https://www.econbiz.de/10014264698

Measuring Poverty Dynamics with Synthetic Panels Based on Repeated Cross-Sections

Dang, Hai-Anh; Lanjouw, Peter - 2022

Panel data are rarely available for developing countries. Departing from traditional pseudo-panel methods that require multiple rounds of cross-sectional data to study poverty mobility at the cohort level, we develop a procedure that works with as few as two survey rounds and produces point...

Persistent link: https://www.econbiz.de/10014264703

The Use of Algorithms in Society

Sunstein, Cass R. - 2023

The judgments of human beings can be biased; they can also be noisy. Across a wide range of settings, use of algorithms is likely to improve accuracy, because algorithms will reduce both bias and noise. Indeed, algorithms can help identify the role of human biases; they might even identify biases...

Persistent link: https://www.econbiz.de/10014264706

Uncertainty Shocks and the Monetary-Macroprudential Policy Mix

Nalban, Valeriu; Smadu, Andra - 2022

How should policymakers respond to uncertainty shocks? To analyze the macroeconomic effects of uncertainty shocks associated with various conventional structural shocks, we develop a New Keynesian model with financial frictions and time-varying volatility, which features a...

Persistent link: https://www.econbiz.de/10014264707

The Market Process as Nonviolent Action

Alshamy, Yahya; Ammons, Joshua; Coyne, Christopher J.; … - 2023

This paper connects the theory of the market process to scholarship on nonviolent action. Doing so advances market … process theory by bringing its interaction with nonviolent action and its peace-building potential to the forefront. It … process theory and nonviolent action we offer several illustrations of nonviolence in the market process …

Persistent link: https://www.econbiz.de/10014264718

Economic Effects of Standard Harmonization between Technologically Asymmetric Countries

Ryu, Han Eol - 2022

Since the fostering of trade liberalization in the 1990s, conventional trade barriers, such as tariffs, have been dropping steadily worldwide. Under the WTO regime, member countries are unable to impose higher tariff rates than the bound rates, and the effective tariff rates have been decreasing...

Persistent link: https://www.econbiz.de/10014264744

Manufacturers' Optimal Production and Abatement Strategies Considering Industrial Symbiosis and Carbon Cap and Trade

quanyao, Cao; Xiao, Zhongdong; Zhou, Guanghui - 2023

This paper considers an industrial symbiosis chain in which an upstream manufacturer produces waste accompanying production. A downstream manufacturer can recycle waste to replace raw materials for clean production. We conduct three scenarios of the symbiotic chain and derive solutions,...

Persistent link: https://www.econbiz.de/10014264762

Gain-Loss, Sign Differential Marginality and the Shapley Value

Shan, Erfang; Cui, Zeguang; Lyu, Wenrong - 2023

We revisit the characterization of the Shapley value by Casajus (Math Soc Sci 68 (2014) 1-4) via the gain-loss property (Einy and Haimanko, 2011), differential marginality and the dummy player property. We first show that differential marginality in this characterization can be weakened into...

Persistent link: https://www.econbiz.de/10014264770