Search Results - subject:"intertemporal equilibrium"

Multinational corporations' capital allocation decisions across asymmetric risk locations : intertemporal equilibrium and optimal transitional adjustment paths

Fedderke, Johannes W.; Luiz, John M.; Barnard, Helena - In: IMA journal of management mathematics 35 (2024) 1, pp. 127-150

Persistent link: https://www.econbiz.de/10014526106

Cross-Border Tax Externalities : Are Budget Deficits Too Small?

Buiter, Willem H.; Sibert, Anne C. - 2021

In a dynamic optimising model with costly tax collection, a tax cut by one nation creates positive externalities for the rest of the world if initial public debt stocks are positive. By reducing tax collection costs, current tax cuts boost the resources available for current private consumption,...

Persistent link: https://www.econbiz.de/10013247022

Testing Sustainability of German Fiscal Policy. Evidence for the Period 1960-2003

Greiner, Alfred; Köller, Uwe; Semmler, Willi - 2021

In this paper, we test whether German public debt has been sustainable by resorting to a test proposed by Bohn (1998). We apply non-parametric and semi-parametric regressions with time depending coefficients. This test shows that the mean of the coefficient relevant for sustainability has been...

Persistent link: https://www.econbiz.de/10013318768

Risk Sharing Through Financial Markets with Endogenous Enforcement of Trades

Koeppl, Thorsten V. - 2021

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are an integral part of financial markets' organization. We assess the degree of risk sharing that can be achieved through financial markets when enforcement is based on the threat...

Persistent link: https://www.econbiz.de/10013319358

A Microfoundation of Predator-Prey Dynamics

Eichner, Thomas; Pethig, Rudiger - 2021

Predator-prey relationships account for an important part of all interactions between species. In this paper we provide a microfoundation for such predator-prey relations in a food chain. Basic entities of our analysis are representative organisms of species modelled similar to economic...

Persistent link: https://www.econbiz.de/10013319914

On the Analytics of the Dynamic Laffer Curve

Agell, Jonas; Persson, Mats - 2021

In this paper, we analyze government budget balance within a simple model of endogenous growth. For the AK model, simple analytical conditions for a tax cut to be self-financing can be derived. The critical variable is not the tax rate per se, but the "transfer-adjusted" tax rate. We discuss...

Persistent link: https://www.econbiz.de/10013321194

Hayek, Hicks, Radner, and four equilibrium concepts : intertemporal, sequential, temporary, and rational-expectations

Glasner, David - In: Studies in the history of monetary theory : …, (pp. 457-488). 2021

Hayek was among the first to realize that, in intertemporal equilibrium, all agents must have correct expectations of … future prices. Before comparing four categories of intertemporal equilibrium - (1) Perfect-foresight equilibrium, (2) Radner …'s approach. The now dominant Lucas rational-expectations equilibrium misconceives intertemporal equilibrium, suppressing Hayek …

Persistent link: https://www.econbiz.de/10012705244

Intertemporal equilibrium with physical capital and financial asset : role of dividend taxation

Pham, Ngoc-Sang - In: Mathematical social sciences 123 (2023), pp. 95-104

Persistent link: https://www.econbiz.de/10014429414

Liquidity Sentiments

Asriyan, Vladimir - 2019

We develop a rational theory of liquidity sentiments in which the market outcome in any given period depends on agents' expectations about market conditions in future periods. Our theory is based on the interaction between adverse selection and resale considerations giving rise to an...

Persistent link: https://www.econbiz.de/10012900268

Real indeterminacy and dynamics of asset price bubbles in general equilibrium

Bosi, Stefano; Cuong Le Van; Pham, Ngoc-Sang - In: Journal of mathematical economics 100 (2022), pp. 1-15

Persistent link: https://www.econbiz.de/10013367208