Based on data from a representative survey among more than 2200 households, this paper empirically examines the agreement to the German energy transition in total and to six single energy policy measures, which are components of this challenging national policy approach. Our micro-econometric...

Purpose - The main purpose of this paper is to investigate the dynamic behavior of a bounded rational monopolist with a general nonlinear demand and quadratic cost functions reflecting diseconomies of scales. Design/methodology/approach - We suppose that locally the monopoly firm uses a gradient...

The paper offers a revisionist account of certain episodes in the development of F. A. Hayek's thought. It offers a new reading of his 1937 paper, "Economics and Knowledge," that draws on unpublished lecture notes in which he articulated more fully the distinctions he made in the paper between a...

I numerically solve realistically calibrated life cycle consumption-investment problems in continuous time featuring stochastic mortality risk driven by jumps, unspanned labor income as well as short-sale and liquidity constraints and a simple insurance. I compare models with deterministic and...

Starting from the Derrida’s belief (i.e., the freedom begins where/when the calculus ends), the paper discusses the frontier between the necessity and the liberty in taking the economic decision. In the context, the necessity is thought as being the logical consequence (effect) of the...

In this paper, we study the stability of equilibrium for a foreign trade model consisting of three countries. As the gravity equation has been proven an excellent tool of analysis and adequately stable over time and space all over the world, we further enhance the problem to three masses. We use...

Machine generated contents note: -- Chapter 1: Basics of Treatment Effect Analysis -- Chapter 2: Matching -- Chapter 3: Non-Matching and Sample Selection -- Chapter 4: Regression Discontinuity (RD) -- Chapter 5: Difference in Differences (DD) -- Chapter 6: Triple Difference (TD) and Beyond --...

Problem-based learning (PBL) as a student centered and active learning strategies can be used to improve students’ motivation, interests and often lead to deep level learning outcomes in calculus to enrich performance. Objectives of this study are to (i) identify students’ level of...

Maximum likelihood estimation of discretely observed diffusion processes is mostly hampered by the lack of a closed form solution of the transient density. It has recently been argued that a most generic remedy to this problem is the numerical solution of the pertinent Fokker-Planck (FP) or...

We study the time path of inflation and unemployment using the Blanchard treatment of the relationship between the two and taking the monetary policy condition into account. We solve the model both in continuous and discrete time and compare the results. The economic dynamics of inflation and...

The infinite-dimensional sticky-information Phillips curve is cast as a finite-dimensional timevarying system of difference equations in order to directly assess determinacy in the model with demand given by the forward-looking IS equation and monetary policy by an interest rate rule. An...

This paper establishes, in the setting of Brownian information, a general equilibrium existence result under a stochastic differential formulation of intertemporal recursive utility. The present class of utility functionals is generated by a backward stochastic differential equation and...

In this article the problem of curve following in an illiquid market is addressed. Using techniques of singular stochastic control, we extend the results of [NW11] to a twosided limit order market with temporary market impact and resilience, where the bid ask spread is now also controlled. We...

We study the existence and uniqueness of minimal supersolutions of backward stochastic differential equations with generators that are jointly lower semicontinuous, bounded below by an affine function of the control variable and satisfy a specific normalization property. -- Supersolutions of...