Difference of opinion between banks and borrowers influences the competitiveness of loan markets: the more optimistic the borrowers, the more elastic the demand for loans. This reduces lending rates, decreases the expected profits of banks and discourages entry by banks. – banking ;...

This paper analyzes the effects of pre-lending screening on loan market outcome under oligopolistic competition. Better screening decreases loan interest margins and, provided that the average creditworthiness of borrowers is not too low, increases lending volume. We contrast specifically...

The paper considers time series evidence on the relationships, and possible trade-offs, between productivity and employment, and on the impact of taxes in this connection. First, a theoretical model is built for an open economy leading to the identification of technology, non-technology and tax...

The paper considers time series evidence on the relationships, and possible trade-offs, between productivity and employment, and on the impact of taxes in this connection. First, a heoretical model is built for an open economy leading to the identification of technology, non-technology and...

We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of steady...

We study the effects of demand, tax and supply shocks in one- and twocountry macroeconomic models with fixed exchange rates, with our main emphasis on the stabilisation properties of progressive taxation. The models try to depict outcomes for the EMU countries. In the one-country model we obtain...

A three-stage game including investments, environmental quality provision and price competition is developed to study the impact of green technology investment (ecolabeling), in a duopoly model of vertical product differentiation. The firms’ incentives to invest in green technologies depend on...

Finland has pursued a law-based work ability policy for more than a decade. Many studies indicate that it has been very successful from a health point of view. It has also been demonstrated that it is economically feasible both on a micro and a macro level. In the present study, a number of...

In this paper I analyze the local banking markets in the spatial competition context. In the model one bank is located at the one end of the unit long line and two rival banks are located at another end. Ends are considered as centers of two towns. Borrowers are located on the line between the...

This paper attempts to contrast the traditional view of there being a fundamental trade-off between productive efficiency (and/or growth) and social equality against the current knowledge on these matters as mediated by theoretical and empirical analyses reported in the more recent literature of...