The main objective of the present paper is to estimate the extent to which firm investment is substituted (crowded-out) by investment support policies granted under the EU Rural Development Programme (RDP). In the empirical analyses we employ the difference-in-difference propensity score...

Conventional logic suggests that lowering the policy interest rate will stimulate consumption and investment while discouraging people from saving, but low interest rates may also prompt people to increase their saving to compensate for the low rate of return. Using data on 135 countries from...

Background: Most papers have come to positive conclusions regarding whether Chinese outward foreign direct investment really promote export. Methods: This paper contributes by correcting model misspecification, wrong variable selection and estimation methods which are prevalent in existing...

A growing number of economic studies show that low emotional stability is typically negatively related to socioeconomic outcomes, while conscientiousness predicts desirable results. However, possible mechanisms behind these relations are far less explored. Gaining insights into the mechanisms is...

We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. We find winning a lottery prize modestly reduces labor earnings, with the reduction being immediate, persistent, and similar by age, education, and sex....

The main objective of the present paper is to estimate the extent to which firm investment is substituted (crowded-out) by investment support policies granted under the EU Rural Development Programme (RDP). In the empirical analyses we employ the difference-in-difference propensity score...

We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. We find winning a lottery prize modestly reduces labor earnings, with the reduction being immediate, persistent, and similar by age, education, and sex....

Рассматриваются взгляды экономистов ХХ столетия на влияние налогов на экономическую активность хозяйствующих субьектов. При этом под эффективностью имеется в...

We develop a theory that focuses on the general equilibrium and long-run macroeconomic consequences of trends in job utility. Given secular increases in job utility, work hours per capita can remain approximately constant over time even if the income effect of higher wages on labor supply...

There exists no formal treatment of non-renewable resource (NRR) supply, systematically deriving quantity as function of price. We establish instantaneous restricted (fixed reserves) and unrestricted NRR supply functions. The supply of a NRR at any date and location not only depends on the local...

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regression-based forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate...

Although activation services such as monitoring, training, or job subsidies have been shown to increase exits from unemployment, there is little comprehensive evidence about the effects of activation during recessions. Here we evaluate a large activation programme introduced in Portugal in 2012,...

This article reconsiders the empirical evidence on regional human capital externalities using longitudal survey data from the German Socio-Economic Panel (SOEP). It complements the empirical literature on the role of human capital for explaining regional wage differences. Based on the framework...

This research estimates the effect of the restriction of trading hours on the use of alcoholic beverages falling under the restriction, and to evaluate the substitution effect for the beverages not under the restriction. The hypotheses tested are that these policies decrease use of factory-made...

The graphical analysis of the income and substitution effects is an important part of consumer theory that is commonly taught at the level of intermediate microeconomics. Few textbooks, however, devote much discussion of these effects for perfect substitutes. The purpose of this paper is to fill...

There exists no formal treatment of non-renewable resource (NRR) supply, systematically deriving quantity as function of price. We establish instantaneous restricted (fixed reserves) and unrestricted NRR supply functions. The supply of a NRR at any date and location not only depends on the local...

There exists no formal treatment of non-renewable resource (NRR) supply, systematically deriving quantity as function of price. We establish instantaneous restricted (fixed reserves) and unrestricted NRR supply functions. The supply of a NRR at any date and location not only depends on the local...

Natural causes (such as droughts), non-natural causes (such as competing uses), and government policies limit the supply of water for agriculture in general and irrigating crops in particular. Under such reduced water supply scenarios, existing physical models reduce irrigation proportionally...

This paper estimates substitution effects of the German active labour market programme "JobPerspektive", a wage subsidy for hard-to-place welfare recipients. Using a novel panel of the entire population of German establishments with full information on unsubsidized and subsidized employment,...

The progressiveness of taxation, widely debated by economists, academics, politicians, as well as all other taxpayers, in general, is today a problem whose solutions have not been found, as there is no unity of views on a number issues such as: choosing the most suitable criterion for...

A 2-parameter class of ordinal utility functions over a pair of goods is discussed with respect to general traits of preferences for luxury. The class contains Cobb-Douglas functions as no-luxury limit; its analytical tractability is probed by simple closed form solutions for Marshallian demand...

We extend the model of Fullerton, Karney, and Baylis (2012 working paper) to explore cost-effectiveness of unilateral climate policy in the presence of leakage. We ignore the welfare gain from reducing greenhouse gas emissions and focus on the welfare cost of the emissions tax or permit scheme....

This empirical study seeks to identify determinants of the underground economy in the U.S. in the form of aggregate federal personal income tax evasion over the period 1975-2008, with a specific focus upon the net impact of higher federal income tax rates on personal income tax evasion. In this...