Results 191 to 200 of about 90,126 (252)

The Legacy of Policy Inaction in Climate‐Growth Models

open access: yesInternational Economic Review, EarlyView.
ABSTRACT To better understand the structure and core mechanisms of a broad class of climate‐growth models, we study a simplified version of the dynamic integrated model of climate and the economy (DICE) through the lens of growth theory. We analytically show that this model features a continuum of saddle‐point stable steady states.
Thomas Steger, Timo Trimborn
wiley   +1 more source

Pairwise Imitation and Tournament Graphs

open access: yesInternational Economic Review, EarlyView.
ABSTRACT This paper investigates strategic dynamics under the behavioral rule of pairwise interact and imitate (PII), which requires minimal information and emphasizes outperforming opponents in pairwise interactions. We characterize PII using weak tournament graphs and, for a broad class of dynamics, establish a one‐shot stability result for ...
Sung‐Ha Hwang   +3 more
wiley   +1 more source

Hermite-Hadamard type inequalities for exponential convex functions

open access: yesInternational Journal of Mathematical Analysis, 2020
openaire   +1 more source

Miners' Reward Elasticity and Stability of Competing Proof‐of‐Work Cryptocurrencies

open access: yesInternational Economic Review, EarlyView.
ABSTRACT Proof‐of‐Work cryptocurrencies employ miners to sustain the system through algorithmic reward adjustments. We develop a stochastic model of the multicurrency mining and identify conditions for stable transaction speeds. Bitcoin's algorithm requires hash supply elasticity <$<$1 for stability, while ASERT remains stable for any elasticity and ...
Kohei Kawaguchi   +2 more
wiley   +1 more source

How Does Progressivity Affect the Tax Cut Multiplier?

open access: yesInternational Economic Review, EarlyView.
ABSTRACT How does the targeting of personal income tax cuts affect the output multiplier? This paper provides quantitative evidence using a heterogeneous‐agent New‐Keynesian model calibrated to match US distributions of income, wealth, marginal tax rates, and marginal propensities to consume.
Christian Gillitzer
wiley   +1 more source

Inference via the Skewness‐Kurtosis Set

open access: yesInternational Statistical Review, EarlyView.
Summary Kurtosis minus squared skewness is bounded from below by 1, but for unimodal distributions, this parameter is bounded by 189/125. In some applications, it is natural to compare distributions by comparing their kurtosis‐minus‐squared‐skewness parameters. The asymptotic behavior of the empirical version of this parameter is studied here for i.i.d.
Chris A. J. Klaassen, Bert van Es
wiley   +1 more source

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