Search Results - subject:"Budget constraint"

Truthful revelation in nonmarket valuation

Romstad, Eirik - International Association of Agricultural Economists - IAAE - 2012

positive, implying that the budget constraint would be introduced in a probabilistic manner. … willingness-to-pay is not secured because of the missing link between stated willingness-to-pay and the respondent's budget … constraint. Large deviations between stated willingness-to-pay and actual payments in both field and experimental studies where …

Persistent link: https://www.econbiz.de/10010880276

Strategic Information Transmission with Budget Constraint

Chand, A.K.S. - Dipartimento di Economia, Università Ca' Foscari Venezia - 2012

quadratic utility functions, I show that there is no fully revealing equilibrium with budget constraint. I also show that a …

Persistent link: https://www.econbiz.de/10010578076

Equity and Effectiveness of Optimal Taxation in Contests under an All-Pay Auction

Mealem, Yosef; Nitzan, Shmuel - CESifo - 2012

revenue-maximizing contest designer who faces a balanced-budget constraint, the optimal taxation scheme corresponding to an …

Persistent link: https://www.econbiz.de/10009645631

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability

Kuester, Keith; Mueller, Gernot J.; Corsetti, Giancarlo; … - International Monetary Fund (IMF) - 2012

This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a "sovereign risk channel" through which sovereign default risk raises funding costs in the...

Persistent link: https://www.econbiz.de/10009650633

Intertemporal Solvency of Turkey’s Current Account

Binatli, Ayla Oğuş; Sohrabji, Niloufer - In: Panoeconomicus 59 (2012) 1, pp. 89-104

model of Craig S. Hakkio and Mark Rush (1991) and Steven Husted (1992). According to this approach, the intertemporal budget … constraint is satisfied if there is cointegration between exports and imports+ (which include imports, net interest income and …

Persistent link: https://www.econbiz.de/10009651745

Fiscal Performance, Institutional Design and Decentralization in European Union Countries

Eyraud, Luc; Tuladhar, Anita; Escolano, Julio; Badia, … - International Monetary Fund (IMF) - 2012

This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into account fiscal institutional arrangements. We find that spending decentralization has been associated with sizably better fiscal performance, especially when transfer dependency of...

Persistent link: https://www.econbiz.de/10009654158

Fiscal Policy and the Real Exchange Rate

Chatterjee, Santanu; Mursagulov, Azer - International Monetary Fund (IMF) - 2012

Government spending on infrastructure has recently increased sharply in many emerging-market economies. This paper examines the mechanism through which public infrastructure spending affects the dynamics of the real exchange rate. Using a two-sector dependent open economy model with...

Persistent link: https://www.econbiz.de/10009654171

Financial Accelerator Theory and the Russian Mortgage Market

Stolbov, M. - In: Journal of the New Economic Association 13 (2012) 1, pp. 79-98

In the article the analysis of the crisis impact on the Russian mortgage market is carried out from the financial accelerator perspective. It is proved that the level of financial sustainability of banks and lenders shortly before the crisis predetermined their performance during the most acute...

Persistent link: https://www.econbiz.de/10010540381

The Sustainability of Fiscal Policy in Italy: A Long-Term Perspective

Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2012

The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two different approaches to the assessment of sustainability: the use of sustainability gap indicators (Blanchard et al., 1990) and the time series approach (Trehan and Walsh, 1988)....

Persistent link: https://www.econbiz.de/10010548150

Differential Prize Taxation and Structural Discrimination in Contests

Mealem, Yosef; Nitzan, Shmuel - CESifo - 2012

most widely studied contests. We establish that a designer who maximizes efforts subject to a balanced-budget constraint …

Persistent link: https://www.econbiz.de/10010551012