| 1. |
- Brannlund, R, et al.
(författare)
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Carbon tax simulations using a household demand model
- 2004
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Ingår i: European Economic Review. - : Elsevier. - 0014-2921 .- 1873-572X. ; 48:1, s. 211-233
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Tidskriftsartikel (refereegranskat)abstract
- The main objective of this paper is to analyse consumer response and welfare effects due to changes in energy or environmental policy. To achieve this objective we formulate and estimate an econometric model for non-durable consumer demand in Sweden that utilises micro- and macro-data. In the simulations, we consider two revenue neutral scenarios that both imply a doubling of the CO2 tax; one that returns the revenues in the form of a lower VAT and one that subsidise public transport. One conclusion from the simulations is that the CO2 tax has regional distribution effects, in the sense that household living in sparsely populated areas carry a larger share of the tax burden. (C) 2002 Elsevier B.V. All rights reserved.
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| 2. |
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| 3. |
- Flodén, Martin
(författare)
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Endogenous monetary policy and the business cycle
- 2000
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Ingår i: European economic review. - : Elsevier B.V. - 1873-572X .- 0014-2921. ; 44:8, s. 1409-1429
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Tidskriftsartikel (refereegranskat)abstract
- The correlations and volatilities of real variables seem to be stable over time, but the relation between real and nominal variables is unstable. Presumably, one important factor behind this observation is the nature of money supply. In this paper, I look at a business cycle model where the central bank sets money supply to minimize the volatility of inflation and output. I find that small changes in the central bank's preferences can generate large changes in the derived money supply rule and in correlations between real and nominal variables. Although wages are assumed to be sticky, changes in the money supply rule do not generate any major changes in the behavior of real variables.
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| 4. |
- Fölster, Stefan, et al.
(författare)
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Growth effects of government expenditure and taxation in rich countries
- 2001
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Ingår i: European Economic Review. - : Elsevier B.V. - 0014-2921 .- 1873-572X. ; 45:8, s. 1501-1520
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Tidskriftsartikel (refereegranskat)abstract
- A number of cross-country comparisons do not find a robust negative relationship between government size and economic growth, In part, this may reflect the prediction in economic theory that a negative relationship should exist primarily for rich countries with large public sectors. In this paper an econometric panel study is conducted on a sample of rich countries covering the 1970-1995 period. Extended extreme bounds analyses are reported based on a regression model that tackles a number of econometric issues. Our general finding is that the more the econometric problems are addressed, the more robust the relationship between government size and economic growth appears. Our most complete specifications are robust even according to the stringent extreme bounds criterion.
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| 5. |
- Giannetti, Mariassunta
(författare)
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The effects of integration on regional disparities : Convergence, divergence or both?
- 2002
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Ingår i: European economic review. - : Elsevier B.V. - 1873-572X .- 0014-2921. ; 46:3, s. 539-567
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Tidskriftsartikel (refereegranskat)abstract
- This paper offers an explanation for the coexistence of convergence across countries and the lack thereof at the regional level in the European Union. The model shows that, even if it accelerates growth and brings convergence across countries, the intensification of international knowledge spillovers due to more cross-country interaction may exacerbate within-country regional disparities, if regions with different specialization do not benefit evenly from the exchange of knowledge. The empirical evidence supports the implications of the model. In particular, the data show that regions specialized in advanced sectors at the beginning of the sample period became more similar in terms of per capita income, while regions specialized in traditional sectors lagged.
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| 6. |
- Giordani, Paolo, et al.
(författare)
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Inflation forecast uncertainty
- 2003
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Ingår i: European Economic Review. - 0014-2921. ; 47:6, s. 1037-1059
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- We study the inflation uncertainty reported by individual forecasters in the Survey of Professional Forecasters 1969-2001. Three popular measures of uncertainty built from survey data are analyzed in the context of models for forecasting and asset pricing, and improved estimation methods are suggested. Popular time series models are evaluated for their ability to reproduce survey measures of uncertainty. The results show that disagreement is a better proxy of inflation uncertainty than what previous literature has indicated, and that forecasters underestimate inflation uncertainty. We obtain similar results for output growth uncertainty. (C) 2002 Elsevier B.V. All rights reserved.
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| 7. |
- Goyal, Sanjeev, et al.
(författare)
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The political economy of regionalism
- 2004
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Ingår i: European Economic Review. - Amsterdam : Elsevier. - 0014-2921 .- 1873-572X. ; 48:3, s. 563-593
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Tidskriftsartikel (refereegranskat)abstract
- We examine the incentives of regions to unite and separate. Separation allows for greater influence over the nature of political decision making while unification allows regions to exploit economies of scale in the provision of government. Our paper explores the influence of size, location and the diversity within regions in shaping this trade-off. We then examine the way in which alternative political institutions aggregate regional preferences and thereby define the number of countries.
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| 8. |
- Mäler, Karl-Göran
(författare)
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Development, ecological resources and their management: A study of complex dynamic systems
- 2000
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Ingår i: European economic review. - : Elsevier B.V. - 1873-572X .- 0014-2921. ; 44:4, s. 645-665
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Tidskriftsartikel (refereegranskat)abstract
- Human well-being depends to a large extent on services provided by ecological systems. In poor countries, this dependence is more transparent than in industrialised countries where the dependence is more indirect. Effective management of these systems requires a good understanding of their properties and in particular a knowledge of the dynamics of the systems.In the article, the dynamics of one “simple” system is analysed economically. The system is a lake and the interaction between the run-off of nutrients into the lake and the growth of either algae (eutrophication in lakes in northern Europe and North America) or water hyacinths (in lakes in southern and eastern Sfrica) is studied. It turns out that the dynamics exhibit bifurcation points so that there are two basins of attraction. If the system flips to one basin and it is regarded desirable to return to the other basin, there will be hysteresis. Assuming that there are different users of the lake, a differential game is constructed that captures the strategic interests of the users. The resulting equilibrium shows first the conventional negative externality that will force the system to a different basin od attraction. Finally, we investigate the use of a tax for bringing back the system to a Pareto optimum.
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| 9. |
- Bingley, Paul, et al.
(författare)
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Employer Pay Policies, Public Transfers and the Retirement Decisions of Men and Women in Denmark
- 2004
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Ingår i: European Economic Review. - : Elsevier. - 0014-2921 .- 1873-572X. ; 48:1, s. 181-200
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Tidskriftsartikel (refereegranskat)abstract
- The empirical retirement literature measures individual responses to variations in income flows due to public transfers, private individual or employer-provided pensions. We estimate a model accounting for the incentive effects from these sources. A dynamic structural model is extended to allow both individual and employer heterogeneity. This is applied to a Danish matched panel of workers and establishments, spanning a period of reforms to a public early retirement programme. Employer-specific compensation is found to be an important determinant of work and retirement income flows. Employer effects on retirement age are only found among sub-samples where access to public transfers is limited.
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