The American Economic Review, Volume 86American Economic Association., 1996 |
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Página 731
... lower unconditional mean implied volatilities ( per unit time ) for longer horizons , a phenomenon consistent with bounded exchange rates as was true in the ERM . The average option premium should , all else equal , presumably be lower ...
... lower unconditional mean implied volatilities ( per unit time ) for longer horizons , a phenomenon consistent with bounded exchange rates as was true in the ERM . The average option premium should , all else equal , presumably be lower ...
Página 781
... lower resource stock and a higher extraction effort is reached . If agents are sufficiently patient , this is a welfare reduc- ing change for the following reason . For any given extraction effort a lower resource stock corresponds to a ...
... lower resource stock and a higher extraction effort is reached . If agents are sufficiently patient , this is a welfare reduc- ing change for the following reason . For any given extraction effort a lower resource stock corresponds to a ...
Página 993
... lower than under the realistic tax system.22 Correspondingly , in Table 2 the optimal carbon tax associated with given marginal environmental damages is higher than the optimal tax arising in the re- alistic case . A comparison of ...
... lower than under the realistic tax system.22 Correspondingly , in Table 2 the optimal carbon tax associated with given marginal environmental damages is higher than the optimal tax arising in the re- alistic case . A comparison of ...
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JUDITH A CHEVALIER AND DAVID S SCHARFSTEIN | 703 |
JOSÉ MANUEL CAMPA AND P H KEVIN CHANG | 726 |
NORDHAUS AND ZILI YANG | 741 |
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agents aggregate American Economic Review analysis assume assumption average behavior bequests buyers capital carbon tax central banker cities coefficient constraints contestant convergence cost countercyclical countries deadweight loss debt domestic dummy effect efficient emissions equal equation equilibrium estimates fiat money Figure Finance firms foreign function garbage gifts global greenfield investment households impact implies income increase industry inflation inputs Institute International investment investors Journal of Economics labor liquidity constraint M₁ macroeconomic manager marginal measure ment migration monetary multifactor productivity multinationals Nash equilibrium nomic observed optimal output paper parameters percent percentage period price changes Price Is Right profits reciprocal exchange reduce regions regression relative Robert sample schooling Section sector seller shocks significant Solow residual Statistics strategy Table tax rates technology shocks theory TIAA-CREF tion trade United University utility variables wage zero