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663491
Market-dependent production set
Egbert, Henrik
;
Naqvi, Nadeem
-
2011
theory
, exogenous changes in technology or primary-factor supplies alter equilibrium prices; however, government …
Persistent link: https://www.econbiz.de/10010286432
Saved in:
663492
Solving DSGE models with a nonlinear moving average
Lan, Hong
;
Meyer-Gohde, Alexander
-
2011
We introduce a nonlinear infinite moving average as an alternative to the standard state-space policy function for solving nonlinear DSGE models. Perturbation of the nonlinear moving average policy function provides a direct mapping from a history of innovations to endogenous variables,...
Persistent link: https://www.econbiz.de/10010286434
Saved in:
663493
Forward-backward systems for expected utility maximization
Horst, Ulrich
;
Hu, Ying
;
Imkeller, Peter
;
Réveillac, …
-
2011
In this paper we deal with the utility maximization problem with a general utility function. We derive a new approach in which we reduce the utility maximization problem with general utility to the study of a fully-coupled Forward-Backward Stochastic Differential Equation (FBSDE).
Persistent link: https://www.econbiz.de/10010286435
Saved in:
663494
Unemployment and portfolio choice: Does persistence matter?
Bremus, Franziska M.
;
Kuzin, Vladimir
-
2011
Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming unemployed. These hedging mechanisms are used differently across countries. In this paper, we use a life cycle model to study the effects of unemployment on the portfolio choice of...
Persistent link: https://www.econbiz.de/10010286436
Saved in:
663495
All you need is trade: On the in(ter)dependence of trade and asset holdings in gravity equations
Kleinert, Jörn
;
Neugebauer, Katja
-
2012
This paper looks at the interrelationship between trade in goods and asset holdings, as brought forward by some contributions to the empirical literature in international economics. These contributions argue that single-equation gravity models suffer from an endogeneity bias, culminating in a...
Persistent link: https://www.econbiz.de/10010286439
Saved in:
663496
Endogenous transport costs in international trade
Kleinert, Jörn
;
Spies, Julia
-
2011
In this paper we claim that distance alone is a poor proxy for international transport costs in empirical studies. We model a manufacturing and a transport sector and let the level of manufacturing exports determine the demand for transport services. Above a particular trade level, transport...
Persistent link: https://www.econbiz.de/10010286440
Saved in:
663497
International sourcing, product complexity and intellectual property rights
Naghavi, Alireza
;
Spies, Julia
;
Toubal, Farid
-
2011
In this paper, we propose the technological complexity of a product and the level of Intellectual Property Rights (IPRs) protection to be the co-determinants of the mode through which multinational firms purchase their goods. We study the choice between intra-firm trade and outsourcing given...
Persistent link: https://www.econbiz.de/10010286441
Saved in:
663498
Vertically related markets of collective licensing of differentiated copyrights with indirect network effects
Thomes, Tim Paul
-
2010
This paper presents a
theory
of vertically interrelated markets of identical fixed size under implementation of …
Persistent link: https://www.econbiz.de/10010286453
Saved in:
663499
Procedurally fair provision of public projects: An axiomatic characterization
Güth, Werner
;
Kliemt, Hartmut
-
2011
Unanimous voting as the fundamental procedural source of political legitimacy grants veto power to each individual. We present an axiomatic characterization of a class of bidding processes to spell out the underlying egalitarian values for collective projects of a productive state. At heart of...
Persistent link: https://www.econbiz.de/10010286454
Saved in:
663500
Money
Wray, L. Randall
-
2010
possible. These three propositions are used to build a
theory
of money that is linked to common themes in the heterodox …'s approach, which relies on accounting identities; the K distribution
theory
of Keynes, Michal Kalecki, Nicholas Kaldor, and …
Persistent link: https://www.econbiz.de/10010286493
Saved in:
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