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International Credit Flows and Pecuniary Externalities

Brunnermeier, Markus K. - 2015

This paper develops a dynamic two-country neoclassical stochastic growth model with incomplete markets. Short-term credit flows can be excessive and reverse suddenly. The equilibrium outcome is constrained inefficient due to pecuniary externalities. First, an undercapitalized country borrows too...

Persistent link: https://www.econbiz.de/10013028913

Intellectual Property Rights, Technology Transfer and Exports in Developing Countries

Yang, Lei; Maskus, Keith E. - 2021

We develop a model to analyze one mechanism under which stronger intellectual property rights (IPR) protection may improve the ability of firms in developing countries to break into export markets. A Northern firm with a superior process technology chooses either exports or technology transfer...

Persistent link: https://www.econbiz.de/10013316444

Innovation, Trade, and Finance

Egger, Peter H. - 2013

This paper proposes a model where heterogeneous firms choose whether to undertake R&D or not. Innovative firms are more productive, have larger investment opportunities and lower own funds for necessary tangible continuation investments than non-innovating firms. As a result, they are...

Persistent link: https://www.econbiz.de/10013092604

Education, Unemployment and Migration

Eggert, Wolfgang - 2009

This paper studies a two-region model in which unemployment, education decisions and interregional migration are endogenous. The poorer region exhibits both lower wages and higher unemployment rates, and migrants to the richer region are disproportionately skilled. The brain drain from the poor...

Persistent link: https://www.econbiz.de/10012766901

Native Welfare Losses from High Skilled Immigration

Kemnitz, Alexander - 2008

This paper explores the effects of high skilled immigration to a host country with unionized low skilled labor and an unemployment insurance scheme. We show that such immigration can create a negative immigration surplus due to adverse effects on low skilled employment, provided that fiscal...

Persistent link: https://www.econbiz.de/10012770182

Technology, Market Structure and the Gains from Trade

Impullitti, Giammario - 2018

We study the gains from trade in an economy with oligopolistic competition, firm heterogeneity, and innovation …. In addition to markups, selection and innovation provide additional channels through which the trade-induced effect on … channels; we find that innovation plays a small but non-negligible role, while the main component is equally split between the …

Persistent link: https://www.econbiz.de/10012930693

Welfare Effects of Capital-Market Integration in the Presence of an International Duopoly

Karavitis, Panagiotis - 2019

We build a two-country model with an international duopoly and capital-market integration. We examine how the convergence of the cost of capital, due to its mobility, affects the welfare of each country and their joint welfare. We fi nd that international capital mobility, which equalizes the...

Persistent link: https://www.econbiz.de/10012894683

Inequity Aversion, Welfare Measurement and the Gini Index

Schmidt, Ulrich - 2018

Over the last decades, research in behavioural economics has demonstrated that individual welfare (utility), as relevant for economic decision making, depends not only on absolut but also on distributional aspects. Moreover, evidence is gathering that something similar holds for aggregate...

Persistent link: https://www.econbiz.de/10012916152

The Optimal Graduated Minimum Wage and Social Welfare

Danziger, Eliav - 2018

This paper analyzes the effects of introducing a graduated minimum wage in a model with optimal income taxation in which a government seeks to maximize social welfare. It shows that the optimal graduated minimum wage increases social welfare by increasing the low-productivity workers'...

Persistent link: https://www.econbiz.de/10012919242

Legal Uncertainty as a Welfare Enhancing Screen

Lang, Matthias - 2016

Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...

Persistent link: https://www.econbiz.de/10012977556

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