We investigate how economic incentives and spell duration affect hazard rates out of insured unemployment. We take into account that insured unemployment not always ends in employment, but also in disability, training programs, or benefit sanctions. Our empirical basis is Norwegian register data containing variation in economic incentives and spell duration similar to that of random-assignment experiments. We find that the employment and benefit-sanction hazards are negatively affected by the unemployment insurance replacement ratio, but that the effects vary considerably among individuals. There is negative duration dependence in the employment hazard and positive duration dependence in the disability hazard. 相似文献
The environmental impacts on an economy is studied over time using endogenous growth theory. Externalities from the environment
on production are central in the analysis, and we examine whether an optimal path realizes more rapid economic growth. The
paper focuses mainly on developing countries, where production is largely influenced by the environmental quality. The result
of the analysis indicates that the economic growth rate may not depend on the internalization of the environmental externality,
but rather on the internalization of the human capital externality. The level of economic activity, however, generally seems
to depend on the internalization of both externalities. 相似文献
We employ a large scale macroeconometric model to study adjustment problems and long term welfare effects of a Norwegian EU-membership. Accession costs depend significantly on the country's level of GDP, the size of its agricultural sector and tariff and VAT revenues as these elements determine the net membership contribution. Without the transfers, integrating the economy into EU generates a small welfare gain. This result is strongly affected by a long period with under-utilisation of resources. With the net contribution included, we identify a welfare loss. This is especially so if fiscal policy is changed to maintain the public sector budgetary balance. 相似文献
In this paper we present an economic equilibrium analysis of a reinsurance market. The continuous-time model contains the principal components of uncertainty; about the time instants at which accidents take place, and about claim sizes given that accidents have occurred. We give sufficient conditions on preferences for a general equilibrium to exist, with a Pareto optimal allocation, and derive the premium functional via a representative agent pricing theory. The marginal utility process of the reinsurance market is represented by the density process for random measures, which opens up for numerous applications to premium calculations, some of which are presented in the last section. The Hamilton-Jacobi-Bellman equations of individual dynamic optimization are established for proportional treaties, and the term structure of interest rates is found in this reinsurance syndicate. The paper attempts to reach a synthesis between the classical actuarial risk theory of insurance, in which virtually no economic reasoning takes place but where the net reserve is represented by a stochastic process, and the theory of equilibrium price formation at the heart of the economics of uncertainty. 相似文献
The rational elements of management dominated the questions raised by our Editorial Board members in the previous issue of JPIM when they offered their ideas in, "Significant Issues For the Future of Product Innovation." In this article, the discussion is continued with some other Board members but this time the human side of managements gets its due attention. The issues presented here add to the picture of complexity that is the reality of product innovation but they also may provoke the thinking that can lead to an improvement in management performance. 相似文献
The adaptive estimation procedure of model reference adaptive systems is modified and applied to linear models. In general the principle can be used for almost any time series model. Because of the recursive nature of the resulting estimator, it is computationally appealing, especially when a time series is considered as a flow of data. In addition, the estimator turns out to have certain statistical optimality properties. In the linear regression setting, Ridge estimators turn out to constitute a subclass of the adaptive estimators considered, whereas for unknown measurement variance, the resulting estimators are related to J ames -S tkin type estimators, and have better properties than the latter. The estimator is shown to be strongly consistent and to converge in law to a normal variate under the standard assumptions of linear models. Further it is shown to be admissible and minimax in restricted parameter spaces. The connection between K alman filters and the classical least-squares estimator is also pointed out. 相似文献
We apply the notion of the organisational field to internationally operating multi-family offices. These organisations specialise on the preservation of enterprising and geographically dispersed families’ fortunes. They provide their services across generations and countries. On the basis of secondary data of Bloomberg’s Top 50 Family Offices, we show that they constitute a global organisational field that comprises two clusters of homogeneity. Clients may decide between two different configurations of activities, depending on their preferences regarding asset management, resource management, family management and service architecture. The findings also reveal that multi-family offices make relatively similar value propositions all over the world. The distinctiveness of the clusters within the field is not driven by the embeddedness of the multi-family offices in different national environments or their various degrees of international experience. Rather, it is weakly affected by two out of four possible value propositions, namely the exclusiveness and the transparency of services. 相似文献
Objective: Inter-regional comparison of health-reform outcomes in south-eastern Europe (SEE).
Methods: Macro-indicators were obtained from the WHO Health for All Database. Inter-regional comparison among post-Semashko, former Yugoslavia, and prior-1989-free-market SEE economies was conducted.
Results: United Nations Development Program Human Development Index growth was strongest among prior-free-market SEE, followed by former Yugoslavia and post-Semashko. Policy cuts to hospital beds and nursing-staff capacities were highest in post-Semashko. Physician density increased the most in prior-free-market SEE. Length of hospital stay was reduced in most countries; frequency of outpatient visits and inpatient discharges doubled in prior-free-market SEE. Fertility rates fell for one third in Post-Semashko and prior-free-market SEE. Crude death rates slightly decreased in prior-free-market-SEE and post-Semashko, while growing in the former Yugoslavia region. Life expectancy increased by 4 years on average in all regions; prior-free-market SEE achieving the highest longevity. Childhood and maternal mortality rates decreased throughout SEE, while post-Semashko countries recorded the most progress.
Conclusions: Significant differences in healthcare resources and outcomes were observed among three historical health-policy legacies in south-eastern Europe. These different routes towards common goals created a golden opportunity for these economies to learn from each other. 相似文献
We investigate how, in an open economy, carbon taxes combined with output‐based rebating (OBR) perform in interaction with the carbon policies of a large neighbouring trading partner. Analytical results suggest that, whether the purpose of the OBR policy is to compensate firms for carbon tax burdens or to maximize welfare (accounting for global emission reductions), the OBR rate should be positive in policy‐relevant cases. Numerical simulations for Canada, with the US as the neighbouring trading partner, indicate that the impact of US policies on the OBR rate will depend crucially on the purpose of the Canadian OBR policies. If, for a given US carbon policy, Canada's aim is to restore the competitiveness of domestic emission‐intensive and trade‐exposed (EITE) firms to the same level as before the introduction of its own carbon taxation, we find that the necessary domestic OBR rates will be insensitive to the foreign carbon policies. However, if not only the Canadian carbon tax but also an equally high US tax is introduced, compensatory Canadian OBR rates will be up to 50% lower, depending on the sector and on US OBR policy. If the policy objective is to increase economy‐wide allocative efficiency (welfare) of Canadian policies by accounting for carbon leakage, the US policies will have only a minor downward pressure on desirable OBR rates in Canada. Practical choices of OBR rates hardly affect overall domestic economic performance; thus, output‐based rebating qualifies as an instrument for compensating EITE industries without a large sacrifice in terms of economy‐wide allocative efficiency. 相似文献
This paper investigates sector-specific driving forces for the standardization activities at national standardization organizations. In the first part, theoretical hypotheses concerning sector-specific standardization are derived. The empirical test is performed by a two-step procedure. First, based on 19 sectors, these hypotheses are tested empirically for Germany. The results show that R&D-intensive sectors standardize very actively; additionally, intellectual property rights play an important role. Furthermore, standardization increases with the concentration of the enterprises up to a certain threshold, where standardization activities decline again. Finally, export-intensive sectors tend to standardize more. Secondly, because of the small data base, these hypotheses are empirically tested in a pool model, an international cross-section approach based on 20 sectors and seven countries. These results are generally in concordance with the findings of Germany. After a summary of the results, recommendations for future standardization practice are given. 相似文献