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A framework for analyzing language and welfare

Melitz, Jacques - C.E.P.R. Discussion Papers - 2012

The paper proposes a general model that will encompass trade and social benefits of a common language, a preference for a variety of languages, the fundamental role of translators, an emotional attachment to maternal language, and the threat that globalization poses to the vast majority of...

Persistent link: https://www.econbiz.de/10011083809

Equilibrium Welfare and Government Policy with Quasi-Geometric Discounting

Krusell, Per; Kuruscu, Burhanettin; Smith Jr., Anthony A - C.E.P.R. Discussion Papers - 2001

. For this class, we characterize the welfare properties of competitive equilibria and compare them to that of a planning …-value utility subject to resource constraints. The competitive equilibrium results in strictly higher welfare than does the planning … tax rates on capital. These tax rates reproduce the central planning solution, and thus imply a worse outcome in welfare …

Persistent link: https://www.econbiz.de/10005123772

Reform Without Losers: An Interpretation of China's Dual-Track Approach to Transition

Lau, Lawrence J; Qian, Yingyi; Roland, Gérard - C.E.P.R. Discussion Papers - 1998

We develop a simple model to analyse the ‘dual-track’ approach to transition to a market economy as a mechanism for implementing efficient Pareto-improving economic reform, that is, reform achieving efficiency without creating losers. The approach, based on the continued enforcement of the...

Persistent link: https://www.econbiz.de/10005504255

Indeterminacy in a Finance Constrained Unionized Economy

Lloyd-Braga, Teresa; Modesto, Leonor - C.E.P.R. Discussion Papers - 2004

welfare if the marginal productivity of labour is decreasing in employment. …

Persistent link: https://www.econbiz.de/10005504720

Arbitrage, Hedging and Financial Innovation

Davidson, Malcolm - C.E.P.R. Discussion Papers - 1996

I present a simple model in which it is possible that opening a new market makes everybody worse off. Unlike previous examples in the literature, the analysis does not rely on relative price changes of different consumption goods. This is shown in a standard framework in which uninformed traders...

Persistent link: https://www.econbiz.de/10005504789

Hold-Up Problems and Firm Formation

Gersbach, Hans; Haller, Hans - C.E.P.R. Discussion Papers - 2004

Agents from a homogeneous population organize themselves into productive partnerships and are confronted with a hold-up problem when making relation-specific investments in those partnerships. The problem is mitigated if agents can leave a partnership in which they have invested, bear the costs...

Persistent link: https://www.econbiz.de/10005498121

Heterogeneity, Demand for Insurance and Adverse Selection

Spinnewijn, Johannes - C.E.P.R. Discussion Papers - 2012

heterogeneity, I find that the welfare conclusions regarding adversely selected markets are substantially different. The source of …

Persistent link: https://www.econbiz.de/10011083454

Competition for attention in the information (overload) age

Anderson, Simon P; de Palma, André - C.E.P.R. Discussion Papers - 2009

Limited consumer attention limits product market competition: prices are stochastically lower the more attention is paid. Ads compete to be the lowest price with other ads from the same sector and they compete for attention with ads from other sectors: equilibrium sector ad shares under free...

Persistent link: https://www.econbiz.de/10005000441

Digital Goods and the New Economy

Quah, Danny - C.E.P.R. Discussion Papers - 2003

Digital goods are bit strings, sequences of 0s and 1s, that have economic value. They are distinguished from other goods by five characteristics: digital goods are non-rival, infinitely expansible, discrete, aspatial, and recombinant. The New Economy is one where the economics of digital goods...

Persistent link: https://www.econbiz.de/10005067419

Endogenous Growth Fluctuations in Unionised Economy with Productive Externalities

Coimbra, Rui; Lloyd-Braga, Teresa; Modesto, Leonor - C.E.P.R. Discussion Papers - 2002

We discuss the effects of unions in the labour market on steady-state multiplicity and welfare, and on the occurrence …-Douglas technology, unions increase steady state employment and welfare, and local indeterminacy (sunspots) emerges. Our results show …

Persistent link: https://www.econbiz.de/10005656164