Showing 91 - 100 of 167
Using U.S. cross-sectional data, this paper calculates the welfare cost of a 10% inflation for different individuals and finds that the difference in cost between the poorest 10%, measured by their expenditure share on cash goods, and the richest 10% is in the order of 176%. That is, a poor...
Persistent link: https://www.econbiz.de/10005727848
Rajan & Zingales (1998) use U.S. Compustat firm data for the 1980s to obtain measures of manufacturing sectors’ Dependence on External Finance (DEF). They take any differences in these measures to be structural/technological and thus applicable to other countries. Their joint assumptions about...
Persistent link: https://www.econbiz.de/10005727849
This paper studies advertising, price ceilings and taxes in a sequential search model with bilateral heterogeneities in production and search costs. We estimate equilibria using a genetic algorithm (GA) applied to over 100 market scenarios, each differing based on the number of firms, number of...
Persistent link: https://www.econbiz.de/10005727850
In the current literature, fiscal policy is usually characterized by a singleequation rule, in which primary surplus is generally dened as a function of lagged government debt and other controlled variables. To apply Ordinary Least Squares (OLS) method on the single-equation rule has been one of...
Persistent link: https://www.econbiz.de/10005727851
The purpose of the present paper is to relate two important concepts of time series analysis, namely, nonlinearity and persistence. Traditional mea- sures of persistence are based on correlations or periodograms, which may be inappropriate under nonlinearity and/or non-Gaussianity. This article...
Persistent link: https://www.econbiz.de/10005727852
In Brazil generous public sector pensions have induced civil servants to retire on average at age 55. In this paper we use an OLG model to assess the effects of such policy induced early retirement on capital accumulation and long-run income levels. We calibrate the model to data from Brazil and...
Persistent link: https://www.econbiz.de/10005727853
Neoclassical growth models predict that reductions in capital or labor tax rates are expansionary when lump-sum transfers are used to balance the government budget. This paper explores the consequences of bond-financed tax reductions that bring forth a range of possible offsetting policies,...
Persistent link: https://www.econbiz.de/10005727854
This paper examines a revenue neutral green tax reform along the lines of the Double Dividend hypothesis. Using a dynamic general equilibrium model calibrated to the US economy, we find that increasing gasoline taxes and using the revenue to reduce capital income taxes does indeed deliver both...
Persistent link: https://www.econbiz.de/10005727855
This paper examines why different countries export different qualities of products.Previous studies have attributed quality dispersion to differences in factor endowments while no empirical work has been done examining the effect of technology on quality. Using panel data on U.S. imports from 58...
Persistent link: https://www.econbiz.de/10005727856
Fertility decline in developing countries may have unexpected demographic consequences. Although lower fertility improves nutrition, health, and human capital investments for surviving children, little is known about the relationship between fertility outcomes and female-male offspring...
Persistent link: https://www.econbiz.de/10005727857