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A note on equity premia in markets with heterogeneous agents

Chudjakow, Tatjana - 2011

We analyze a static partial equilibrium model where the agents are not only heterogeneous in their beliefs about the return on risky assets but also in their attitude to it. While some agents in the economy are subjective utility maximizers others behave ambiguity averse in the sense of Knight...

Persistent link: https://www.econbiz.de/10010319978

Assessing general and partial equilibrium simulations of Doha round outcomes using meta-analysis

Hess, Sebastian; von Cramon-Taubadel, Stephan - 2007

Applied general and partial equilibrium models are widely used tools for ex ante analysis of trade policy changes. However, simulation results seem to exhibit significant variation across publications, and the often criticised ‘black box’ character of applied trade models makes meaningful...

Persistent link: https://www.econbiz.de/10010300178

Induced Technological Change under Technology Competition

Gerlagh, Reyer - 2003

We develop a partial one-sector model with capital, natural resources, and labor as production factors, and endogenous technological change through research. Production exhibits increasing returns to scale. We compare the response of output and resource use to a change in resource prices with...

Persistent link: https://www.econbiz.de/10011325034

The impact of a firm's payout policy on stock prices and shareholders' wealth in an inefficient market

Nekat, Kai; Nippel, Peter - 2007

effects considered in signaling games. We show that paying out free cash flow, either as a dividend or via repurchasing shares … dividend as long as capital gains are not heavily discriminated by taxation in relation to dividends. The positive price effect … of dividends can be enhanced if the firm implements a dividend reinvestment plan (DRIP). …

Persistent link: https://www.econbiz.de/10011558825

Documentation of the Central and Eastern European Countries Agricultural Simulation Model (CEEC-ASIM Version 1.0)

Wahl, Olaf; Weber, Gerald; Frohberg, Klaus - 2000

theory. The main hypotheses are perfect markets, profit maximisation of producers and utility maximisation of consumers. … Struktur des Modells sowie die grundlegenden Modellannahmen. Das Modell basiert im Wesentlichen auf der neoklassischen Theorie …

Persistent link: https://www.econbiz.de/10010299448

A Climate-Change Policy Induced Shift from Innovations in Energy Production to Energy Savings

Gerlagh, Reyer - 2004

We develop an endogenous growth model with capital, labor and energy as production factors and three productivity variables that measure accumulated innovations for energy production, energy savings, and neutral growth. All markets are complete and perfect, except for research, for which we...

Persistent link: https://www.econbiz.de/10011324999

Time Profile of Climate Change Stabilization Policy

Gerlagh, Reyer; Hofkes, Marjan W. - 2004

We develop an economic model for fossil-fuel and carbon-free energy supply and demand with capital and labor as production factors, and endogenous technological change through learning by research and learning by doing. We use the model to study inter-temporally efficient carbon taxes for...

Persistent link: https://www.econbiz.de/10011325009

Induced Technological Change Under Carbon Taxes

Gerlagh, Reyer; Lise, Wietze - 2003

We develop an economic partial equilibrium model for energy supply and demand with capital and labor as production factors, and endogenous technological change through learning by research and learning by doing. Our model reproduces the learning curve typical for (bottom-up) energy system...

Persistent link: https://www.econbiz.de/10011325111

Dividenden und Aktienrückkäufe unter der Abgeltungssteuer

Podlech, Nils - 2012

Vergleich zu einer Dividende vorteilhaft auf die Vermögensposition der Aktionäre auswirkt. Die Abschätzung der quantitativen … period. Prior to that point of time stock owners preferred profit distributions by share repurchase instead of a dividend due … examines the wealth of stock owners when a firm distributes earnings by dividend or share repurchase instead. The results …

Persistent link: https://www.econbiz.de/10010314642

Die Auswirkungen des Steuersystemwechsels vom Halbeinkünfteverfahren zur Abgeltungssteuer auf die Ausschüttungspolitik von Unternehmen

Podlech, Nils - 2013

Dividende oder in Form eines Aktienrückkaufes ausschüttet, oder diese Mittel alternativ für eine Investition einbehält. Auf der … examined if the corporation pays out free cash in the form of a dividend or share repurchase or alternatively retains the funds …

Persistent link: https://www.econbiz.de/10010314643