Showing 1 - 10 of 312
This paper addresses the issue on whether tax reforms consistent with lower public debt-to-GDP in the long-run can lead to a more efficient and equitable economy. To this end we solve a heterogeneous agent model comprised of a government, a representative capitalist and representative skilled...
Persistent link: https://www.econbiz.de/10008727393
The behavior of commodities is critical for developing and developed countries alike. This paper contributes to the empirical evidence on the co-movement and determinants of commodity prices. Using nonstationary panel methods, we document a statistically significant degree of co-movement due to...
Persistent link: https://www.econbiz.de/10008727394
The financial crisis has raised some concern about the quality of information available on some traded assets on the securities markets to market participants and regulators. Asset-backed securitization in general got partial blame for the paucity of liquidity on bank balance sheets and the...
Persistent link: https://www.econbiz.de/10008727395
This paper empirically investigates the effectiveness and feasibility of two FDI policies, fiscal incentives and deregulation, aimed at improving the attractiveness of a country in the short run. Using disaggregated data on sales by US MNEs’ foreign affiliates in 43 developed and developing...
Persistent link: https://www.econbiz.de/10005034844
Two mechanisms have attracted considerable attention from researchers studying the effects of income on happiness: adaptation and social comparison. In most empirical studies these two mechanisms have been considered separately. This paper contributes to the literature by jointly testing for the...
Persistent link: https://www.econbiz.de/10005034845
Using a two-sector endogenous growth model, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate cycles in output, consump- tion, investment and hours. To contextualize our findings, we also assess whether the human...
Persistent link: https://www.econbiz.de/10005034846
In this paper we investigate wealth inequality/polarization properties related to the support of the limit distribution of wealth in innovative economies characterized by uninsurable individual risk. We work out two simple successive generation examples, one with stochastic human capital...
Persistent link: https://www.econbiz.de/10005048632
In this paper, we adapt multilevel analysis methods to investigate the spatial variability of SMEs productivity across the Italian territory, and account for differences in the socio-economic context. Our results suggest that to properly capture the variability of the data, it is important to...
Persistent link: https://www.econbiz.de/10004963499
A benchmark AK optimal growth model with maintenance expenditures and endogenous utilization of capital is considered within an explicit vin- tage capital framework. Scrapping is endogenous, and the model allows for a clean distinction between age and usage dependent capital deprecia- tion and...
Persistent link: https://www.econbiz.de/10004999726
Firm success is often associated with the development of better products. Private firms undertake applied R&D seeking market advantage, by capitalizing on the freely accessible results of basic research. But unpatentable basic research often fails to address applied R&D open problems. What is...
Persistent link: https://www.econbiz.de/10004999727