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Should Continued Family Firms Face Lower Taxes than other Estates?

Strulik, Holger; Grossmann, Volker - CESifo - 2008

entrepreneurship. Here, we investigate analytically and quantitatively the trade-off between transaction costs saved and creative … entrepreneurs that are caused to continue a business, always lose relative to their status in an economy without continuation …

Persistent link: https://www.econbiz.de/10005406109

Capital Accumulation and Employment Cycles in a Model of Creative Destruction

Palokangas, Tapio - CESifo - 2003

A Schumpeterian growth model is constructed for an economy with wage bargaining. It is shown that the economy is subject to cycles in which capital, output and employment vary in fixed proportion. These increase through saving and capital accumulation until a new technology is introduced, at...

Persistent link: https://www.econbiz.de/10005405864

Has Creative Destruction Become More Destructive?

Komlos, John - CESifo - 2014

Schumpeter’s concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with...

Persistent link: https://www.econbiz.de/10010888453

Large-Scale Disasters and the Insurance Industry

Kraemer, Walter; Schich, Sebastian - CESifo - 2008

We investigate the impact of the 20 largest – in terms of insured losses – man-made or natural disasters on various insurance industry stock indices. We show via an event study that insurance sectors worldwide are quite resilient, in a market–value sense, to unexpected losses to capital:...

Persistent link: https://www.econbiz.de/10005181507

Growth and Mitigation Policies with Uncertain Climate Damage

Bretschger, Lucas; Vinogradova, Alexandra - CESifo - 2014

Climate physics predicts that the intensity of natural disasters will increase in the future due to climate change. We present a stochastic model of a growing economy where natural disasters are multiple and random, with damages driven by the economy’s polluting activity. We provide a...

Persistent link: https://www.econbiz.de/10011082827

Do Natural Disasters Enhance Societal Trust?

Toya, Hideki; Skidmore, Mark - CESifo - 2012

devastating human and economic impacts, a potential spillover benefit of greater disaster exposure may be a more tightly knit …

Persistent link: https://www.econbiz.de/10010877834

Climatic Factors as Determinants of International Migration

Beine, Michel; Parsons, Christopher - CESifo - 2012

We examine environmental factors as potential determinants of international migration. We distinguish between unexpected short-run factors, captured by natural disasters, as well as long-run climate change and climate variability. Building on a simple neo-classical model we use a panel dataset...

Persistent link: https://www.econbiz.de/10009651183

Natural Disasters and the Effect of Trade on Income: A New Panel IV Approach

Felbermayr, Gabriel J.; Gröschl, Jasmin - CESifo - 2011

Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize...

Persistent link: https://www.econbiz.de/10009224870

Government Repression and the Death Toll from Natural Disasters

Costa, Samia - CESifo - 2012

, however, could also play a role in disaster preparedness. In particular, I examine whether governments that are deemed to be … investment in disaster preparedness. I find an inverse U-shaped relationship between repression and casualties, with countries at …

Persistent link: https://www.econbiz.de/10009416118

Naturally Negative: The Growth Effects of Natural Disasters

Felbermayr, Gabriel J.; Gröschl, Jasmin - CESifo - 2013

literature does not offer conclusive evidence. Most existing studies use disaster data drawn from damage records of insurance … GDP. We build a comprehensive database of disaster events and their intensities from primary geophysical and … effect of disasters on growth. The worst 5% disaster years come with a growth damage of at least 0.45 percentage points. That …

Persistent link: https://www.econbiz.de/10010701086