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A further note on a new class of solutions to dynamic programming problems arising in economic growth

Antony, Jürgen; Maußner, Alfred - 2008

This note extends the finding of Benhabib and Rusticchini (1994) who provide a class of SDGE models, whose solution is characterized by a constant savings rate. We show that this class of models may be interpreted as a standard representative agent SDGE model with costly adjustment of capital...

Persistent link: https://www.econbiz.de/10010275810

Market dynamics, dynamic resource management and environmental policy in the context of (strong) sustainability

Klarl, Torben - 2010

In this paper, we investigate the relationship between market dynamics, dynamic resource management and environmental policy. In contrast to static market entry games, this paper draws attention to the effects of market dynamics on resource dynamics et vice versa, because (1) we show that...

Persistent link: https://www.econbiz.de/10010291746

Regulation, credit risk transfer, and bank lending

Pausch, Thilo; Welzel, Peter - 2011

behavior and risk sensitivity of a risk-neutral bank. The bank is exposed to credit risk and may use credit default swaps (CDS …) for hedging purposes. Regulation is found to induce the risk-neutral bank to behave in a more risk-sensitive way: Compared … trading is found to interact with the former effect when regulation accepts CDS as an instrument to mitigate credit risk …

Persistent link: https://www.econbiz.de/10010291748

Policy diffusion in a simple Stackelberg game

Michaelis, Peter; Ziesemer, Thomas - 2010

Strategic environmental policy games are usually based on simultaneous decision making and reach the conclusion that the policy choices are strategic substitutes. Empirical evidence, however, shows that the introduction of a regulatory instrument usually follows a consecutive pattern that is...

Persistent link: https://www.econbiz.de/10010291749

The analytics of New Keynesian Phillips curves

Maußner, Alfred - 2010

This paper introduces the reader into the apparatus behind the popular New Keynesian Phillips (NKPC) curve. It derives several log-linear versions of this curve and recursive formulations of the Calvo-Yun price staggeringmodel that is behind this curve. These formulations can be used for...

Persistent link: https://www.econbiz.de/10010291750