Showing 1 - 10 of 1,160
This paper examines the pattern of intertemporal trade between countries with different distribution of wealth. We also examine the consequences of redistribution policies in this framework. The driving force of our model are risk aversion, capital market imperfections, and costs associated with...
Persistent link: https://www.econbiz.de/10005100738
This paper examines the endogenous determination of the choice between an entrepreneur and a pure lender. The model relies on three key factors: risk aversion, wealth distribution, and moral hazard. We show that, under certain assumptions, only agents in the middle range of the wealth...
Persistent link: https://www.econbiz.de/10005101030
Persistent link: https://www.econbiz.de/10003593001
Persistent link: https://www.econbiz.de/10002171924
This paper examines how two geographically separated ports compete for a market consisting of manufacturing firms located between the two ports. There is a firm in each port, and these two firms, taking the infrastructure provided by their governments as given, compete in a Bertrand sense. The...
Persistent link: https://www.econbiz.de/10005100518
This paper proposes a new welfare criterion which satisfies three desiderata: strong sensitivity to the least advantaged, sensitivity to the present, and sensitivity to the future. We develop necessary conditions for optimal paths under this new criterion, and demonstrate that, in a familiar...
Persistent link: https://www.econbiz.de/10005100525
A model of location choice by Cournot oligopolists is presented, under the assumption that R&D spillovers depend on the distance between firms. We show that a variety of patterns emerge. Agglomeration is optimal under certain assumptions. Geographical dispersion in a two-dimensional plane is...
Persistent link: https://www.econbiz.de/10005100573
In this paper, we consider an asymmetric polluting oligopoly: firms have different production costs, and their pollution characteristics may also be different. We will demonstrate that, in this case, optimal tax rates per unit of emission are not the same for all firms. We call this property...
Persistent link: https://www.econbiz.de/10005100587
We develop a theoretical model in which each individual is, in some ultimate sense, motivated by purely egoistic satisfaction derived from the goods accruing to him, but there is an implicit social contract such that each performs duties for the others in a way that enhances the satisfaction of...
Persistent link: https://www.econbiz.de/10005100589
This paper discusses the influence of public ownership on trade policy instruments. We demonstrate three important invariance results. First, the degree of public ownership affects neither the level of socially optimal activities nor welfare if the government chooses optimal trade policy...
Persistent link: https://www.econbiz.de/10005100665