1,721,098 research outputs found
Einfluß der Nadelphysiologie auf die Entstehung von Massenvermehrungen nadelfressender Kieferninsekten
No full textEinfluß von Bestandesstruktur und waldbaulicher Behandlung auf die Entstehung großflächiger Massenvermehrungen nadelfressender Kieferninsekten am Beispiel der Nonne (Lymantria monacha L.) in Dauerschadgebieten des Niedersächsischen Tieflandes
No full textEinfluß der Nadelphysiologie auf die Entstehung von Massenvermehrungen nadelfressender Kieferninsekten
No full textEinfluß von Bestandesstruktur und waldbaulicher Behandlung auf die Entstehung großflächiger Massenvermehrungen nadelfressender Kieferninsekten am Beispiel der Nonne (Lymantria monacha L.) in Dauerschadgebieten des Niedersächsischen Tieflandes
No full textDollarization of liabilities and the value of collateral
Full text linkHeavy reliance on dollar denominated debt appears to have been one of the reasons that the East Asian financial crisis had severe real effects. In the model presented in this paper severe mismatch between dollar denominated debt and domestic currency revenues of firms may occur. The explanation is based on the possibility that it is relatively less costly to enter bankruptcy if many other firms in the same country are bankrupt. This possibility depends on two key assumptions, that national characteristics make it very difficult for foreigners to manage firms in the country and that the capacity even of domestic firms to effectively expand via mergers and acquisitions is limited. In the model creditors are fully rational. To reconcile the large observed losses of creditors with rationality, it is assumed that debtors actions depend on a sunspot. Thus widespread balance sheet miss-match might or might not develop. Much simpler models can explain the observed experience of firms in East Asian countries and their creditors if creditors are irrational
Infant mortality, relative income and public policy
No full textDo health outcomes depend on relative income as well as on an individual's absolute level of income? We use infant mortality as a health status indicator and find a significant and positive link between infant mortality and income inequality using cross-national data for 93 countries. Holding constant the income of each of the three poorest quintiles of a country's population, we find that an increase in the income of the upper 20% of the income distribution is associated with higher, not the lower infant mortality. Our results are robust and not just caused by the concave relationship between income and health. The estimates imply a decrease in infant mortality by 1.5% for a one percentage point decrease in the income share of the richest quintile. The overall results are sensitive to public policy: public health care expenditure, educational outcomes, and access to basic sanitation and safe water can explain the inequality--health relationship. Thus, our findings support the hypothesis of public disinvestment in human capital in countries with high income inequality. However, we are not able to determine whether public policy is a confounder or mediator of the relationship between income distribution and health. Relative deprivation caused by the income distance between an individual and the individual's reference group is another possible explanation for a direct effect from income inequality to health
The Relative efficiency of public and private health care
No full textA health care system is efficient when an increase in spending results in significant improvements in the health of a population. We test the relative efficiency of public and private health care spending in reducing infant and child mortality using cross-national data for 163 countries. There are two remarkable ?ndings: First, an increase in public funds is both, significantly correlated with a lower mortality and signi?cantly more e¢ cient in reducing mortality than private health care expenditure. Second, private health care expenditure is in all estimations associated with higher, not lower, mortality, although this association is often not statistically significant. The results suggest, holding total health care expenditure constant, a potential decrease in total infant mortality in the 163 countries from 6.9 million deaths (2002) to 4.2-5.3 million deaths for completely publicly financed health care systems, but an increase to 9.0-10.0 million deaths for completely privately financed health care. We can explain some of the estimated difference in the efficiency of public and private health care expenditure by geographies and socioeconomic factors such as HIV prevalence, sanitation standards, corruption, and income distribution. However, the efficiency dfference remains large and statistically significant in all regressions
Firm financed training and Pareto improving firing taxes
No full textThis paper shows that the under-investment in firm financed training caused by hold up can justify the introduction of firing taxes in a laissez-faire economy with search frictions and risk neutral agents. More precisely we highlight two results. First, the introduction of a firing tax for newly hired workers combined with hiring subsidies, always acts as a Pareto improving policy. Second, with no hiring subsidies, the introduction of a firing tax for the newly hired always increase the welfare of employed while its impact on the welfare of unemployed depends on the returns to training. We also analyze the implications of such a policy if a minimum wage is binding for newly hired workers
Induced defence reaction in the phloem of spruce (Picea abies ) and Larch (Larix decidua ) after attack by Ips typographus and Ips cembrae
No full textDynamically Inconsistent Preferences and Money Demand
No full textThis paper focuses on two main issues. First, we find that, on average, households’ discount rates decline. This implies dynamically inconsistent preferences. Second, we calculate an indicator of the degree of dynamic inconsistency that may help us to understand how households overcome their self-control problems. We use a micro dataset containing households’ reports on the compensation for receiving hypothetical rewards with delays. We find that individuals with more severely dynamicly inconsistent preferences on average hold a statistically significantly lower share of their total wealth in checking accounts. A possible interpretation is that subjects use precommitment strategies to limit their temptation to consume immediately
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