Open Access: The inversion of the ‘really big trade-off’: homeownership and pensions in long-run perspective

2021 ◽  
pp. 161-189
Author(s):  
Tod Van Gunten ◽  
Sebastian Kohl
Keyword(s):  
2005 ◽  
Vol 48 (1-2) ◽  
pp. 31-51
Author(s):  
Alpar Losonc

The author treats in this article the modalities of ecological-political regulation. At first he analyzes the modalities of regulation that are government-related and connected to the normative engagement of government. The author especially emphasizes the advantageous and less advantageous aspects of the normatively based interventions of government. He critically explores the disadvantageous dimensions of the ecological aid and shows the discrepancy between the short and long run concerning the effects of aid-practice. At second the author deals with the regulation based on the market-mechanisms. The conclusion refers to the trade-off between the normatively determined govern mentality and the market-based mechanisms. The author pays special attention to the emission-trading schemes in Europe and demonstrates the main uncertainties in relation to the market of pollution and emission trading.


2021 ◽  
Vol 4 (3) ◽  
Author(s):  
Omer Allagabo Omer Mustafa

The relationship between wage inflation and unemployment (Phillips Curve) is controversial in economic thought, and the controversy is centered around whether there is always a trade-off or not. If this relationship is negative it is called The short-run Fillips Curve. However, in the long run, this relationship may probable not exist. The matter of how inflation and unemployment influence economic growth, is debatably among macroeconomic policymakers. This study examines the behavior of the Phillips Curve in Sudan and its effect on economic growth.


2020 ◽  
Author(s):  
B Espen Eckbo ◽  
Michael Kisser

Abstract We test whether high-frequency net-debt issuers (HFIs)—public industrial companies with relatively low issuance costs and high debt-financing benefits—manage leverage toward long-run targets. Our answer is they do not: (1) the leverage–profitability correlation is negative even in quarters with leverage rebalancing; (2) the speed-of-adjustment to target leverage deviations is no higher for HFIs than for low-frequency net-debt issuers; and (3) under-leveraged HFIs do not speed up rebalancing activity in significant investment periods. Thus, even in the subset of firms most likely to follow dynamic trade-off theory, the theory does not appear to hold.


Author(s):  
Irene Man ◽  
Simopekka Vänskä ◽  
Matti Lehtinen ◽  
Johannes A Bogaards

Abstract Background Although human papillomavirus (HPV) vaccines are highly efficacious in protecting against HPV infections and related diseases, vaccination may trigger replacement by nontargeted genotypes if these compete with the vaccine-targeted types. HPV genotype replacement has been deemed unlikely, based on the lack of systematic increases in the prevalence of nonvaccine-type (NVT) infection in the first decade after vaccination, and on the presence of cross-protection for some NVTs. Methods To investigate whether type replacement can be inferred from early postvaccination surveillance, we constructed a transmission model in which a vaccine type and an NVT compete through infection-induced cross-immunity. We simulated scenarios of different levels of cross-immunity and vaccine-induced cross-protection to the NVT. We validated whether commonly used measures correctly indicate type replacement in the long run. Results Type replacement is a trade-off between cross-immunity and cross-protection; cross-immunity leads to type replacement unless cross-protection is strong enough. With weak cross-protection, NVT prevalence may initially decrease before rebounding into type replacement, exhibiting a honeymoon period. Importantly, vaccine effectiveness for NVTs is inadequate for indicating type replacement. Conclusions Although postvaccination surveillance thus far is reassuring, it is still too early to preclude type replacement. Monitoring of NVTs remains pivotal in gauging population-level impacts of HPV vaccination.


2020 ◽  
Vol 130 (630) ◽  
pp. 1650-1677 ◽  
Author(s):  
David E Bloom ◽  
Michael Kuhn ◽  
Klaus Prettner

Abstract We analyse the economic consequences for poor countries of investing in female health within a unified growth model featuring health-related gender differences in productivity. Better female health accelerates the demographic transition and thereby the take-off towards sustained economic growth. By contrast, male health improvements delay the transition and take-off because they tend to raise fertility. However, households tend to prefer male health improvements over female health improvements because they imply a larger static utility gain. This highlights the existence of a dynamic trade-off between the short-run interests of households and long-run development goals.


2005 ◽  
Vol 40 (2) ◽  
pp. 259-281 ◽  
Author(s):  
Nengjiu Ju ◽  
Robert Parrino ◽  
Allen M. Poteshman ◽  
Michael S. Weisbach

AbstractThis paper examines optimal capital structure choice using a dynamic capital structure model that is calibrated to reflect actual firm characteristics. The model uses contingent claim methods to value interest tax shields, allows for reorganization in bankruptcy, and maintains a long-run target debt to total capital ratio by refinancing maturing debt. Using this model, we calculate optimal capital structures in a realistic representation of the traditional trade-off model. In contrast to previous research, the calculated optimal capital structures do not imply that firms tend to use too little leverage in practice. We also estimate the costs borne by a firm whose capital structure deviates from its optimal target debt to total capital ratio. The costs of moderate deviations are relatively small, suggesting that a policy of adjusting leverage infrequently is likely to be reasonable for many firms.


Econometrica ◽  
1974 ◽  
Vol 42 (6) ◽  
pp. 1069 ◽  
Author(s):  
Alex Cukierman
Keyword(s):  

Tourism ◽  
2021 ◽  
Vol 69 (3) ◽  
pp. 381-394
Author(s):  
Giovanni Bella ◽  
Carla Massidda

This paper proposes a vector error correction model to investigate the relationship between polluting emissions and GDP levels in Japan, in the period 1970-2014, and tests the validity of the Environmental Kuznets Curve (EKC) hypothesis driven by tourist arrivals. Our results validate the existence of two different causality channels among the selected variables. In particular, we find that a trade-off might exist between increasing the number of tourists, which drives economic growth, and the pattern of a sustainable development, due to the increase of polluting emissions. The analysis allows us to propose appropriate policy strategies to promote a robust and sustainable long run economic growth.


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