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Journal of economics (Vienna, Austria : Online)最新文献

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Cochrane, John H., The Fiscal Theory of the Price Level, Princeton University Press, Princeton, 2023 约翰·H·科克伦:《价格水平的财政理论》，普林斯顿大学出版社，普林斯顿，2023年
Journal of economics (Vienna, Austria : Online) Pub Date : 2023-04-04 DOI: 10.1007/s00712-023-00825-y
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引用次数: 0
Higher tax and less work: reverse "Keep up with the Joneses" and rising inequality. 增税少工：扭转“攀比”和不平等加剧的局面。
Journal of economics (Vienna, Austria : Online) Pub Date : 2023-01-01 Epub Date: 2023-03-29 DOI: 10.1007/s00712-023-00821-2
Felix FitzRoy, Jim Jin, Michael Nolan
{"title":"Higher tax and less work: reverse \"Keep up with the Joneses\" and rising inequality.","authors":"Felix FitzRoy,&nbsp;Jim Jin,&nbsp;Michael Nolan","doi":"10.1007/s00712-023-00821-2","DOIUrl":"10.1007/s00712-023-00821-2","url":null,"abstract":"<p><p>To counteract excessive effort due to relative income comparison among identical agents, the literature suggests a tax response equal to the negative externality. Assuming a general income distribution, we show that an optimal tax must be higher under a general social welfare function, to not only reduce inefficiency but also inequality. We recommend a practical tax response to stronger comparison - to hold employment constant, which does not require unrealistic information including unobservable comparison. Surprisingly, the tax response will dominate the comparison effect and <i>reduce</i> labour supply or reverse \"keeping up with the Joneses\" on intensive margins, and also reverse the otherwise rising inequality.</p><p><strong>Supplementary information: </strong>The online version contains supplementary material available at 10.1007/s00712-023-00821-2.</p>","PeriodicalId":73717,"journal":{"name":"Journal of economics (Vienna, Austria : Online)","volume":"139 3","pages":"177-190"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10050818/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9660013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
P. Aghion, C. Antonin, S. Bunel, The power of creative destruction: Economic upheaval and the wealth of nations P. Aghion, C. Antonin, S. Bunel，《创造性破坏的力量:经济动荡与国家财富》
Journal of economics (Vienna, Austria : Online) Pub Date : 2022-01-24 DOI: 10.1007/s00712-021-00771-7
A. Bucci
{"title":"P. Aghion, C. Antonin, S. Bunel, The power of creative destruction: Economic upheaval and the wealth of nations","authors":"A. Bucci","doi":"10.1007/s00712-021-00771-7","DOIUrl":"https://doi.org/10.1007/s00712-021-00771-7","url":null,"abstract":"","PeriodicalId":73717,"journal":{"name":"Journal of economics (Vienna, Austria : Online)","volume":"31 1","pages":"299 - 306"},"PeriodicalIF":0.0,"publicationDate":"2022-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89632372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
New results on precautionary saving and nonlinear risks. 预防性储蓄和非线性风险的新成果。
Journal of economics (Vienna, Austria : Online) Pub Date : 2022-01-01 Epub Date: 2022-01-03 DOI: 10.1007/s00712-021-00768-2
Claudio Bonilla, Marcos Vergara
{"title":"New results on precautionary saving and nonlinear risks.","authors":"Claudio Bonilla,&nbsp;Marcos Vergara","doi":"10.1007/s00712-021-00768-2","DOIUrl":"https://doi.org/10.1007/s00712-021-00768-2","url":null,"abstract":"<p><p>We study precautionary saving in a two-period model that allows for nonlinear risks and nonseparable preferences. Permitting nonlinear risk effects is important because they are common in the developing world or when worldwide shocks hit economies, like the COVID-19 pandemic. Allowing nonseparable preferences is also important because they admit the incorporation of intergenerational transfer, habit persistence and other specific features of intertemporal decision making. We decompose the risk shock using Davis's (Int Econ Rev 30(1):131-136, 1989) compensation method and analyze the income and substitution effect of an increase in risk. We prove that the substitution effect is always negative and, therefore, the income effect must be positive and larger in size to have a precautionary net effect. We then apply the method to various sources of risk, such as income, interest rate and wealth risk. We analyze the magnitude of each effect and find the conditions required to guarantee precautionary saving in each case. Our results are presented as signs of covariances, which provides a new perspective on precautionary saving.</p>","PeriodicalId":73717,"journal":{"name":"Journal of economics (Vienna, Austria : Online)","volume":"136 2","pages":"177-189"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8720555/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39912737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Pandemics and support for mitigation measures. 流行病和对缓解措施的支持。
Journal of economics (Vienna, Austria : Online) Pub Date : 2022-01-01 Epub Date: 2021-11-25 DOI: 10.1007/s00712-021-00765-5
Kangoh Lee
{"title":"Pandemics and support for mitigation measures.","authors":"Kangoh Lee","doi":"10.1007/s00712-021-00765-5","DOIUrl":"https://doi.org/10.1007/s00712-021-00765-5","url":null,"abstract":"<p><p>Measures reduce health risk but limit economic activities and affect disproportionately the contact-intensive sectors whose economic activities involve more person-to-person interactions. The analysis shows that the size of the contact-intensive sectors shapes the stringency of measures due to the economic interactions between the contact-intensive sectors and other sectors although they constitute a minority of the labor force. Exploiting variation in measures and economic conditions across states, an empirical analysis shows that the number of contact-intensive workers has a negative effect on the stringency of measures.</p>","PeriodicalId":73717,"journal":{"name":"Journal of economics (Vienna, Austria : Online)","volume":"136 1","pages":"73-89"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8614636/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39769040","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Intra-brand competition in a differentiated oligopoly. 差异化寡头垄断下的品牌内竞争。
Journal of economics (Vienna, Austria : Online) Pub Date : 2021-01-01 Epub Date: 2020-08-16 DOI: 10.1007/s00712-020-00712-w
Michèle Breton, Lucia Sbragia
{"title":"Intra-brand competition in a differentiated oligopoly.","authors":"Michèle Breton,&nbsp;Lucia Sbragia","doi":"10.1007/s00712-020-00712-w","DOIUrl":"https://doi.org/10.1007/s00712-020-00712-w","url":null,"abstract":"<p><p>In this paper we consider a differentiated oligopoly with two product varieties that are supplied by two groups of firms. After computing the Cournot solution of the game, we study its sensitivity to different sources of competition, namely the degree of product substitutability and market composition. Market composition can change either via new firms entering one industry or via firms switching production techniques, thus modifying the intensity of intra-brand competition. After studying the welfare consequences of an intensification of competition, we identify the equilibrium market composition when firms are driven by profit considerations. All the results are expressed in terms of the degree of product substitutability and of what we define \"weighted relative efficiency\" (WRE), which is a parameter combining both firm characteristics and market conditions.</p>","PeriodicalId":73717,"journal":{"name":"Journal of economics (Vienna, Austria : Online)","volume":"132 1","pages":"1-40"},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s00712-020-00712-w","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"25354819","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
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