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Whether friendship or competitive relationships deserve to be encouraged in the workplace is not obvious a priori. In this paper we derive the conditions under which a profit-aximizing employer finds it convenient to induce a rat race among workers exhibiting horizontal reciprocity in order to...
Persistent link: https://www.econbiz.de/10010281688
The paper presents a simple model of banking behavior where portfolio, liquidity, and liability management determine simultaneously the demand and supply of borrowed reserves on the interbank market. As the central bank is one player in this market due to its refinancing policy, it is able to...
Persistent link: https://www.econbiz.de/10010281689
This paper aims to help bridge the gap between theory and fact regarding the so-called 'Minsky moments' by revisiting …
Persistent link: https://www.econbiz.de/10010281751
. Showing that Rawls' 'A Theory of Justice' (1971) can consistently meet the identified demands, I verify that it is an … appropriate theory for deriving a conception of ecological justice. …
Persistent link: https://www.econbiz.de/10010281761
the basic conditions of natural monopoly theory and to review the approaches and results of the studies dealing with this …
Persistent link: https://www.econbiz.de/10010281763
We demonstrate the existence of an intergenerational equity-efficiency tradeoff in policy-making that aims at Pareto-efficiency across generations and sustainability, i.e. non-decreasing utility over time. Our model includes two salient characteristics of sustainability problems and policy: (i)...
Persistent link: https://www.econbiz.de/10010281770
We develop and formalize a utilitarian notion of responsibility for sustainability which is inspired by Singer's (1972) principle and the Brundtland Commission's notion ofsustainability (WCED 1987). We relate this notion of responsibility to established criteria forthe assessment of...
Persistent link: https://www.econbiz.de/10010281771
This note investigates the suitability of unilateral consumption taxes for alleviating climate change in a two-period two-country general equilibrium model with a finite stock of fossil fuel. We analyze the incidence of a unilateral consumption tax in the first period on world carbon emissions....
Persistent link: https://www.econbiz.de/10010281774
This paper analyses the influence of the exchange rate regime of a country on the level of tolerated corruption with a special focus on the interdependency of monetary and fiscal policies. Using a simple theoretical framework based on Barro-Gordon-Model I compare independent monetary policy with...
Persistent link: https://www.econbiz.de/10010281777
We study the effects of high skilled immigration on employment and net income in the receiving economy where the market for low skilled labour is distorted by union wage setting and a redistributive unemployment benefit scheme. Based on the empirical fact that high and low skilled workers are...
Persistent link: https://www.econbiz.de/10010281779