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We consider the optimal factor income taxation in a standard R&D model with technical change represented by an increase in the variety of intermediate goods. Redistributing the tax burden from labor to capital will in most cases increase the employment rate in equilibrium. This has opposite...
Persistent link: https://www.econbiz.de/10010643245
We consider the optimal factor income taxation in a standard R&D model with technical change represented by an increase in the variety of intermediate goods. Redistributing the tax burden from labor to capital will increase the employment rate in equilibrium. This has opposite effects on two...
Persistent link: https://www.econbiz.de/10010614532
We provide empirical support for an analytical DSGE model with nominal wage stickiness where growth is driven by learning-by-doing and money shocks and their variance are allowed to impact on long-run output growth. In our theoretical model the variance of monetary shocks has a negative effect...
Persistent link: https://www.econbiz.de/10010826214
A burgeoning population, pressing development needs and increasing household consumption are rapidly accelerating water use in direct and indirect ways. Increasingly, regions around the world face growing pressure on sustainable use of their water resources especially in arid and semi-arid...
Persistent link: https://www.econbiz.de/10011276469
Policy-makers have attributed the scale of the credit crisis and its profound impact on money markets (as well as financial sector stability) to the fast rise of securitization and the way it has arguably complicated both the conduct of monetary policy and the effect of interest rate...
Persistent link: https://www.econbiz.de/10012719055
By using the recent Gertler and Kiyotaki.s (2010) setup, this paper explores the interaction between real distortions stemming from the labor market institutions and financial shocks. We find that neither labor market imperfections nor fiscal institutions determining tax wedges have an impact on...
Persistent link: https://www.econbiz.de/10011124116
We study the implications of having different sources of nominal rigidities on the relationship between productivity growth and shocks volatility in a model with procyclical R&D and imperfect competition in goods and labour markets. We show that the effects of uncertainty on long-term growth not...
Persistent link: https://www.econbiz.de/10010727949
Social leisure is generally found to be positively correlated with life satisfaction in the empirical literature. We ask if this association captures a genuine causal effect by using panel data from the GSOEP. Our identification strategy exploits the change in social leisure brought about by...
Persistent link: https://www.econbiz.de/10010848563
Persistent link: https://www.econbiz.de/10011033435
Empirical analyses of the determinants of life satisfaction routinely include the number of children as one of the socio demographic controls, without explicitly considering that, for a given household income, more children imply a lower level of income per family member. The variable “number...
Persistent link: https://www.econbiz.de/10010999483