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Trade, gravity, and sudden stops: On how commercial trade can increase the stability of capital flows

Cavallo, Eduardo A.; Cavallo, Eduardo A. - 2005

Financial stability is an important policy objective since crises are associated with big economic, social, and political costs. Promoting stability requires preventing 'sudden stops' in capital flows, which are events in which foreign financing abruptly disappears. This paper contributes to the...

Persistent link: https://www.econbiz.de/10010397715

A Monte Carlo procedure for checking identification in DSGE models

Le, Vo Phuong Mai; Minford, Patrick; Wickens, Michael - 2013

We propose a numerical method, based on indirect inference, for checking the identification of a DSGE model. Monte Carlo samples are generated from the model's true structural parameters and a VAR approximation to the reduced form estimated for each sample. We then search for a different set of...

Persistent link: https://www.econbiz.de/10010397720

Estimating production functions with robustness against errors in the proxy variables

Huang, Guofang; Hu, Yingyao - 2011

This paper proposes a new semi-nonparametric maximum likelihood estimation method for estimating production functions …. The method extends the literature on structural estimation of production functions, started by the seminal work of Olley …

Persistent link: https://www.econbiz.de/10010397791

Optimal representative taxation, information and tax reform

Winer, Stanley L.; Hettich, Walter - 1993

This paper moves toward the formulation of a normative theory of taxation that incorporates collective choice as an … essential element. Such a theory has many interesting parallels to optimal taxation, including large information requirements …In diesem Papier wird versucht, eine normative Theorie der Besteuerung auf der Theorie der kollektiven Entscheidung …

Persistent link: https://www.econbiz.de/10010397881

Raising rivals' costs with environmental regulation: An intertemporal lobbying approach

Körber, Achim - 1995

This paper addresses the question why a lot of firms demand stricter environmental regulation. With non-identical producers within the same industry, lobbying for tighter environmental rules turns out to be an important strategy of raising rivals' costs. Furthermore, the paper explains when the...

Persistent link: https://www.econbiz.de/10010397882

Some notes on the computational complexity of optimal aggregation

Winker, Peter - 1992

basic concepts of mathematical complexity theory; (2) show that the problem of Optimal Aggregation is of high computational …

Persistent link: https://www.econbiz.de/10010397886

Employment risk and optimal trade policies

Choi, Eun Kwan; Chen, Jiong - 1997

This paper considers trade policies and welfare in a Harris-Todaro model with risk averse workers. Workers are assumed to have identical and homothetic preferences, but their incomes differ, depending on whether and where they are employed. When workers are equally weighted, maximizing social...

Persistent link: https://www.econbiz.de/10010397887

Identification of multivariate AR-models by threshold accepting

Winker, Peter - 1994

results. In many cases it is based on some a priori knowledge from economic theory and a rather heuristic procedure for …

Persistent link: https://www.econbiz.de/10010397888

Testing the Ricardian trade theory

Kukuk, Martin - 1990

The simple Ricardian model explains the comparative cost advantage by a relative productivity advantage of the single factor of production. This model is tested in this paper using microdata of the german business survey. In a first approach labour is being considered to be the only factor of...

Persistent link: https://www.econbiz.de/10010397891

Tax reform, welfare and intergenerational redistribution

Hougaard Jensen, Svend Erik; Nielsen, Søren Bo; Haagen … - 1993

This paper analyses the effects of cuts in the marginal tax rates on income from labour and capital on the macroeconomy and on the intergenerational distribution of welfare in a small open economy. For this purpose we set up a computable general equilibrium model incorporating overlapping...

Persistent link: https://www.econbiz.de/10010397894