Hedonische Immobilienpreisindizes, die auf Transaktionsdaten basieren, stellen einen vielversprechenden Indikator für institutionelle Investoren dar. Ihr Vorteil ist, dass durch Qualitätsbereinigungen der Heterogenität der Immobilien besser Rechnung getragen werden kann. Üblicherweise gibt...

In this paper we consider the effects of «multiplicative» uncertainty about the structure of the economy in the standard partisan model. An increase in the uncertainty decreases of the inflation rate pursued by the liberal policymaker, but increases the inflation rate pursued by the...

We investigate dynamic R&D for process innovation in an oligopoly where firms invest in cost-reducing activities. We focus on the relationship between R&D intensity and market structure, proving that the industry R&D investment monotonically increases in the number of firms. This Arrowian result...

This paper describes R&D competition between a managerial firm and an entrepreneurial one, in a Cournot market. It is shown that a manager interested in output expansion exerts higher R&D efforts, yielding productive efficiency as compared to the performance of a strictly profit-seeking firm....

I compare in-kind reimbursement (which fixes treatment quantities) and reimbursement insurance (which fixes treatment prices) as demandside, cost-containment measures. In the model, illness has a negative impact on labor productivity and public insurance is financed through labor income...

The paper focuses on the signaling value of a tax when agents are less informed on the effect of their consumption than the policy-maker. When he chooses the tax, the policy-maker optimizes both the incentive effect and the effect on beliefs. We show that optimal taxes under symmetric...

We consider a start-up firm which applies for a bank loan to implement a project based on complementary activities. The firm has the possibility to improve the complementarity effect by coordinating the activities. Coordination is costly and can be made either by using internal human resources...