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Dynamic Perspective (dynamic + perspective)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting75%

Selected Abstracts

Optimal Factor Taxation under Wage Bargaining: A Dynamic Perspective

GERMAN ECONOMIC REVIEW, Issue 2 2008
Erkki Koskela
Optimal taxation; imperfectly competitive labour markets; capital accumulation Abstract. We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: (i) taxes on capital and labour are the only available tax instruments for raising revenues and (ii) labour markets are subject to an inefficiency resulting from wage bargaining. If considered in isolation, the two distortions create conflicting demands on the wage tax, while calling for a zero capital tax. By combining the two distortions, we arrive at the conclusion that both instruments should be used, implying that the zero capital tax result in general is no longer valid under imperfectly competitive labour markets. [source]

The Lusophone Migratory System: Patterns and Trends

INTERNATIONAL MIGRATION, Issue 3 2009
Maria I. Baganha
Portugal, like all the other EU countries, belongs to several migratory systems. This paper describes and characterizes one of the migratory systems to which Portugal belongs, the Lusophone migratory system. The system approach was chosen because it implies a dynamic perspective which is the most adequate to capture the changing trends and patterns of international migration between a group of countries. The author argument is that historically, this migratory system has existed for a very long time, although at the beginning it was formed by only two countries, Portugal and Brazil. The system was enlarged to the PALOP in the aftermath of the Portuguese Revolution of 1974 and the subsequent independence of the Portuguese colonies in Africa. [source]

Dynamic Insurance Contracts and Adverse Selection

JOURNAL OF RISK AND INSURANCE, Issue 1 2005
Maarten C. W. Janssen
We take a dynamic perspective on insurance markets under adverse selection and study a dynamic version of the Rothschild and Stiglitz model. We investigate the nature of dynamic insurance contracts by considering both conditional and unconditional dynamic contracts. An unconditional dynamic contract has insurance companies offering contracts where the terms of the contract depend on time, but not on the occurrence of past accidents. Conditional dynamic contracts make the actual contract also depend on individual past performance (such as in car insurances). We show that dynamic insurance contracts yield a welfare improvement only if they are conditional on past performance. With conditional contracts, the first-best can be approximated if the contract lasts long. Moreover, this is true for any fraction of low-risk agents in the population. [source]

Time-varying Armington elasticity and country-of-origin bias: from the dynamic perspective of the Japanese demand for beef imports

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 1 2010
Shigekazu Kawashima
Elasticities of substitution, often called Armington elasticities, reflect incomplete substitutability because of perceived product characteristics. This study divides the determinants of the Japanese demand for beef imports into two factors: (i) substitution elasticity and (ii) country-of-origin bias, and demonstrate how these measurements are associated with trade policy and food scare events. The Japanese beef industry serves as a case study to evaluate the multifold impact of import liberalisation and a series of bovine spongiform encephalopathy (BSE) outbreaks. A time-varying parameter model is used to shed light on the dynamic effects of the import liberalisation and BSE outbreaks on the measurements. The estimation results reveal that the estimated substitutability and country-of-origin bias are very sensitive to the BSE cases, but not to the process of trade liberalisation. The results also confirm that as a result of the BSE outbreaks, the major factor of the Japanese demand for beef imports has changed from relative prices to the country-of-origin effect, thereby emphasising the importance of a traceability system and promotional activities, which would help in the formation of the country-of-origin effect. [source]