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Crude Oil Price Fluctuations and Saudi Arabian Behaviour

De Santis, Roberto A. - 2000

This study seeks to explain why crude oil prices fluctuate, the main cause being the quota regime, which characterises … is accompanied by a smaller price change. This explains why oil prices overshoot. The results of a general equilibrium … to lower prices. A tax cut would worsen the situation, whereas policies which can increase the price elasticity of demand …

Persistent link: https://www.econbiz.de/10010260451

Venture Capital Contracts: A Survey of the Recent Literature

Schertler, Andrea - 2000

This paper surveys empirical and theoretical studies of various control mechanisms embedded in venture capital contracts. These mechanisms mitigate incentive problems and opportunistic behavior arising in the uncertain environment of financing young hightechnology enterprises that predominantly...

Persistent link: https://www.econbiz.de/10010260452

Conserving Biodiversity by Commercialization? A Model Framework for a Market for Genetic Resources

Deke, Oliver - 2001

Since naturally occurring genetic information serves as a valuable input for biotechnological R&D, the private provision of genetic resources could generate income for the protection of biodiversity-rich areas. However, there has been a controversy over whether these potential revenues are...

Persistent link: https://www.econbiz.de/10010260455

Measures of the Output Gap in the Euro-Zone: An Empirical Assessment of Selected Methods

Döpke, Jörg; Chagny, Odile - 2001

The paper discusses some widely used methods for estimating output gaps based on aggregated data for the eurozone. Though these methods exhibit some common features, an empirical comparison demonstrates that the various techniques differ substantially. In particular, the correlation of output...

Persistent link: https://www.econbiz.de/10010260457

Explaining Intra- and Intersectoral Wage Differentials in Simple General Equilibrium Trade Models

Spatz, Julius - 2001

The labour markets in the developed countries have experienced two fundamental changes in recent years. Firstly, high-skilled workers have gained at the expense of low-skilled workers, which manifests itself in a rising skill premium and/or a rising disparity in the unemployment rates of these...

Persistent link: https://www.econbiz.de/10010260465

Capital Income Taxation of Asymmetric Countries

Koop, Michael J. - 2001

The paper analyzes the effects of a source-based capital income tax on production and market structures, trade and capital flows as well as national and global welfare. The analysis is carried by means of a general equilibrium model of trade which incorporates international capital flows as well...

Persistent link: https://www.econbiz.de/10010260466

The Influence of Capital Market Integration on Production and Market Structures

Koop, Michael J. - 2001

of international trade which incorporates the new trade theory as well as aspects of the theory of multinational …

Persistent link: https://www.econbiz.de/10010260467

On the Welfare Effects of Monetary Policy When Households Try to Keep Up with the Rest of the World

Pierdzioch, Christian; Yener, Serkan - 2004

We develop a dynamic general equilibrium two-economy model in order to analyze the welfare effects of monetary policy in open economies. The model features two distortions: one distortion due to monopolistic competition, and one distortion due to a consumption externality. This consumption...

Persistent link: https://www.econbiz.de/10010260477

Productivity Shocks and Delayed Exchange-Rate Overshooting

Pierdzioch, Christian - 2004

This paper uses a 'new open economy macroeconomics' model to study the effect of a productivity shock on exchange rate dynamics. The special features of the model are that households' preferences exhibit a 'catching up with the Joneses' effect and that international financial markets are...

Persistent link: https://www.econbiz.de/10010260479

Monetary Policy Rules and Oil Price Shocks

Pierdzioch, Christian; Kamps, Christophe - 2002

This paper studies the relative performance of alternative monetary policy rules in the presence of oil price shocks in a small open economy optimizing model. Our analysis shows that it is important to distinguish between alternative price indices (CPI, core CPI, and GDP deflator) when modeling...

Persistent link: https://www.econbiz.de/10010260484