Haku
Viitteet 1-5 / 5
Money and Stock Returns: Is there habit formation for holding liquid assets?
(Tampereen yliopisto, 2006)
- workingPaper
ABSTRACT
Assuming a utility function, which is non-separable in money and consumption, we derive a simple, non-linear asset pricing model, according to which investors’ willingness to hold liquid assets in their portfolio ...
On the shape of optimal non-linear income tax schedule
(Tampereen yliopisto, 2006)
- workingPaper
This paper shows that the assumed distribution of earning abilities (wages) plays an important role in determining the optimal shape of non-linear income tax schedule. We replace the assumption of lognormal distribution ...
The Incidence of Sin Taxes
(Tampereen yliopisto, 2006)
- workingPaper
We show that contrary to traditional incidence analysis, the burden of sin taxes does not necessarily fall most heavily on individuals with the highest level of consumption. We also derive a condition for cases where sin ...
A Note on the Two-Sector Model of Regional Factor Allocation
(2006)
- workingPaper
The standard neoclassical Two-Sector Model of inter-regional factor allocation says that a positive demand shock in one region starts immigration of both labour and capital into the region, but that the market adjustment ...
The Exchange Rate Targeting of Central Banks Revisited:The Role of Long-term Interest Rates
(2006)
- workingPaper
ABSTRACT
Using a New Keynesian macro model, the paper reconsiders the question, whether the central banks should directly respond to exchange rate movements. It is assumed that the transmission of monetary policy to output ...