Uncertainty and the Timing of Automobile PurchasesScandinavian Journal of Economics - Tập 103 Số 2 - Trang 351-366 - 2001
John Hassler
Earlier studies have shown that lumpy investment models well characterize individual expenditures on durables, in particular automobiles. In this class of models, a higher level of uncertainty generally implies that the household should tolerate a larger imbalance between the actual stock of the durable and the target stock before adjusting it by buying and/or selling. Then, if the level o...... hiện toàn bộ
Optimal Tax and Public Investment Rules for Congestion Type of ExternalitiesScandinavian Journal of Economics - Tập 99 Số 2 - Trang 261-279 - 1997
Inge Mayeres, Stef Proost
Optimal government policy is considered in a second‐best framework where consumers and producers cause an externality of the congestion type and income distribution issues are taken into account. The theoretical results of the optimal tax literature are adapted using the concept of the net social Pigouvian tax. An illustrative AGE model uncovers the relative importance of its components. T...... hiện toàn bộ
Information Technology and the World Economy*Scandinavian Journal of Economics - Tập 107 Số 4 - Trang 631-650 - 2005
Dale W. Jorgenson, Khuong Vu
AbstractThis paper addresses the impact of investment in information technology (IT) on the recent resurgence of world economic growth. We describe the growth of the world economy, seven regions and 14 major economies during the period 1989–2003. We allocate the growth of world output between input growth and productivity and find, surprisingly, that input growth g...... hiện toàn bộ
Risk Aversion and Trade‐Union Membership*Scandinavian Journal of Economics - Tập 114 Số 2 - Trang 275-295 - 2012
Laszlo Goerke, Markus Pannenberg
AbstractIf trade unions provide only their members with insurance against income variations, as a private good, this insurance will provide a stronger incentive for more risk‐averse employees to become union members. Using data from the German Socio‐Economic Panel (SOEP) and various direct measures of individual risk attitudes, we find robust evidence of a positive...... hiện toàn bộ
Natural Resource Booms and Inequality: Theory and Evidence*Scandinavian Journal of Economics - Tập 113 Số 2 - Trang 388-417 - 2011
Benedikt Goderis, Samuel W. Malone
AbstractWe develop a theory, in the context of a two‐sector growth model in which learning‐by‐doing drives growth, to explain the time path of income inequality following natural resource booms in resource‐rich countries. Under the condition of a relatively unskilled labor intensive non‐traded sector, inequality falls immediately after a boom, and then increases st...... hiện toàn bộ
Is Inflation Always and Everywhere a Monetary Phenomenon?*Scandinavian Journal of Economics - Tập 107 Số 2 - Trang 239-259 - 2005
Paul De Grauwe, Magdalena Polan
AbstractUsing a sample of about 160 countries over the last 30 years, we test for the quantity theory relationship between money and inflation. When analysing the full sample of countries, we find a strong positive relation between long‐run inflation and the money growth rate. The relation is not proportional, however. The strong link between inflation and money gr...... hiện toàn bộ