Showing 41 - 50 of 271
We model the Spanish wholesale market as a multiplant linear supply function competition model. According to the theory, the larger generators should have supply curves for each plant which are to the left of the supply curves of plants owned by smaller generators. We test this prediction for...
Persistent link: https://www.econbiz.de/10004972659
This paper studies the comovement between output and inflation in the EU15 countries. Following den Haan (2000), I use the correlations of VAR forecast errors at different horizons in order to analyze the output-inflation relationship. The empirical results show that eight countries display a...
Persistent link: https://www.econbiz.de/10004972660
Revised: 2006-05.-- Published as an article in: The Review of Economics and Statistics, 2004, vol. 86, issue 4, pp. 1034-1036.
Persistent link: https://www.econbiz.de/10004972661
Ideally we would like subjects of experiments to be perfect strangers so that the situation they face at the lab is not just part of a long run interaction. Unfortunately, it is not easy to reach those conditions and experimenters try to mitigate any effects from those out-of-the-lab...
Persistent link: https://www.econbiz.de/10004972663
Revised: 2006-05.-- Published as an article in: Journal of Population Economics, 2007, vol. 18, issue 1, pp. 165-179.
Persistent link: https://www.econbiz.de/10004972664
This paper analyzes union formation in a model of bargaining between a firm and several unions. We address two questions: first, the optimal configuration of unions (their number and size) and, second, the impact of the bargaining pattern (simultaneous or sequential). For workers, grouping into...
Persistent link: https://www.econbiz.de/10004972665
Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of a Fedٳ reaction function (FRF) that (i) allows for the presence of switching regimes, (ii) considers the long-short term spread in addition to the typical variables, (iii) uses an alternative...
Persistent link: https://www.econbiz.de/10004972666
This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with a Ramsey planner making decisions on taxes, transfers, and minimum wage...
Persistent link: https://www.econbiz.de/10004972668
This paper considers the basic present value model of interest rates under rational expectations with two additional features. First, following McCallum (1994), the model assumes a policy reaction function where changes in the short-term interest rate are determined by the long-short spread....
Persistent link: https://www.econbiz.de/10004972669
Revised 2008-08.-- Published as an article in: Journal of Public Economic Theory (2008), 10(4), 563-594.
Persistent link: https://www.econbiz.de/10004972670