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Trade and the environment: The role of firm heterogeneity
Kreickemeier, Udo; Richter, Philipp M. - 2012
This paper derives a new effect of trade liberalisation on the quality of the environment. We show that in the presence of heterogeneous firms the aggregate volume of emissions is influenced not only by the long-established scale effect, but also by a reallocation effect resulting from an...
Persistent link: https://www.econbiz.de/10010309226
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Order, displacements and recurring financial crises
Hoffmann, Andreas; Urbansky, Björn - 2012
The paper describes boom-and-bust cycles within Hayek's framework of order and aims to provide an understanding of recurring crises in recent financial history. We argue that a boom-and-bust cycle is initiated by a displacement that lowers the degree of (ex-post) plan coherence (or order) in an...
Persistent link: https://www.econbiz.de/10010309229
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Journey into the unknown? Economic consequences of factor market integration under increasing returns to scale
Schäfer, Andreas; Steger, Thomas - 2012
What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....
Persistent link: https://www.econbiz.de/10010309230
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Distal embedding as a technology innovation network formation strategy
Paredes-Frigolett, Harold; Pyka, Andreas - 2012
Although the area of innovation economics dates back to the early twentieth century with the seminal contributions of Schumpeter (1911), it is only recently that governments have understood the role of a comprehensive approach towards public sector economics that puts innovation systems in the...
Persistent link: https://www.econbiz.de/10010309236
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Foucault, Gouvernementalität und Staatstheorie
Biebricher, Thomas - 2012
Michel Foucault and the Governmentality Studies on the one hand and the more established frameworks of state theory on the …
Persistent link: https://www.econbiz.de/10010309297
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Circuit theory extended: The role of speculation in crises
Lancastle, Neil - 2012
This paper asks why modern finance theory and the efficient market hypothesis have failed to explain long-term carry … Profits, 2010) and the Theory of the Monetary Circuit to give a mathematical representation of Minsky's Financial Instability …
Persistent link: https://www.econbiz.de/10010309299
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Energieeffizienzpotenziale und staatlicher Lenkungsbedarf
Dobroschke, Stephan - 2012
Die langfristigen Klimaschutzziele sehen bis zum Jahr 2020 im Vergleich zu 2008 eine Senkung des Primärenergieverbrauchs um 20% vor, bis zum Jahr 2050 wird eine Senkung um 50% angestrebt. Zur Erreichung dieser Ziele stehen zunehmend Maßnahmen zur Steigerung nachfrageseitiger Energieeffizienz...
Persistent link: https://www.econbiz.de/10010309486
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Interactions in the New Keynesian DSGE models: The Boltzmann-Gibbs machine and social networks approach
Chen, Shu-heng; Chang, Chia-ling - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-26, pp. 1-32
The BoltzmannGibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the BoltzmannGibbs distribution can be directly applied, without...
Persistent link: https://www.econbiz.de/10010309601
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Fund managers - Why the best might be the worst: On the evolutionary vigor of risk-seeking behavior
Witte, Björn-Christopher - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-24, pp. 1-29
This article explores the influence of competitive conditions on the evolutionary fitness of different risk preferences … capital invested in a risky asset and the amount of excessive risk accepted, where a positive value of the latter parameter … conditions on investment behavior and attitudes towards risk is significant. What is alarming is that intense competitive …
Persistent link: https://www.econbiz.de/10010309602
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Psychophysical interpretation for utility measures
He, Yuqing - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-29, pp. 1-35
the description of commodity choice and the power law for risk choice. The further mathematical demonstration indicates …
Persistent link: https://www.econbiz.de/10010309604