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Liquidity, term spreads and monetary policy

Aksoy, Yunus; Basso, Henrique S. - 2012

We propose a model that delivers endogenous variations in term spreads driven primarily by banks' portfolio decision and their appetite to bear the risk of maturity transformation. We first show that fluctuations of the future profitability of banks' portfolios affect their ability to cover for...

Persistent link: https://www.econbiz.de/10010290138

On the Political Economy of Environmental Policy

Kirchgässner, Gebhard; Schneider, Friedrich - 2002

In the past there was hardly any use of economic instruments in environmental policy, mainly command and control measures were used. More recently, ecological taxes as well as tradable permits became more popular and voluntary agreements have been implemented. Using the Public Choice approach we...

Persistent link: https://www.econbiz.de/10010315254

The firm as a pool of factor complementarities

Lindbeck, Assar; Snower, Dennis J. - 2003

This paper presents a new approach to the theory of the firm by identifying factor complementarities as central to the …

Persistent link: https://www.econbiz.de/10010316079

The positive economics of labor market rigidities and investor protection

Fehn, Rainer; Meier, Carsten-Patrick - 2001

This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on...

Persistent link: https://www.econbiz.de/10010316080

The division of labor and the market for organizations

Lindbeck, Assar; Snower, Dennis J. - 2000

The paper examines of the division of labor within firms. It provides an explanation of the pervasive observed changes in work organisation away from the traditional functional departments and towards multi-tasking and job rotation. Whereas the exsisting literature on the division of labour...

Persistent link: https://www.econbiz.de/10010316081

Quality-Aware Tax Incentives for Charitable Contributions

Halberstam, Zachary; Hines, James R. - 2023

This paper characterizes efficient tax subsidies for charitable contributions, and considers the properties of potential reforms. Contributions are underprovided in the absence of subsidies, and are misdirected if subsidies fail to account for all of the costs that donors incur. It is costly for...

Persistent link: https://www.econbiz.de/10014290160

Marital Sorting and Inequality: How Educational Categorization Matters

Almar, Frederik; Friedrich, Benjamin; Reynoso, Ana; … - 2023

This paper revisits the link between education-based marriage market sorting and income inequality. Leveraging Danish administrative data, we develop a novel categorization of marriage market types based on the starting wages and wage growth trajectories associated with educational programs:...

Persistent link: https://www.econbiz.de/10014290175

Incorporating Theory-Consistent Endogenous Markups into Applied General-Equilibrium Models

Markusen, James R. - 2023

-level productivity and scale effects. I show here that the incorporation of theory-based endogenous markups into AGE models is not …

Persistent link: https://www.econbiz.de/10014290300

A Theory of Price Adjustment under Loss Aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010398564