Topic
Golden Rule (fiscal policy)
About: Golden Rule (fiscal policy) is a research topic. Over the lifetime, 661 publications have been published within this topic receiving 9789 citations.
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01 Jan 2017
TL;DR: In this paper, a broad approach that emphasizes Schumpeterian dynamics is proposed to reduce CO2 emission levels in an efficient manner on the basis of the broad approach, where taxing emissions and subsidies for innovations could be useful elements of innovationenhancing policy.
Abstract: The analysis links RD the capital intensity exceeds the ratio of capital to workers (in efficiency units) that is consistent with a maximum long-run per capita consumption. CO2 emission levels could be reduced in an efficient manner on the basis of a broad approach that emphasizes Schumpeterian dynamics: Taxing emissions and giving subsidies for innovations could be useful elements of innovation-enhancing policy. Promoting green innovations—including the sustainability design of products—renewable energy, and realizing adequate genuine savings could be key policy elements for a consistent strategy to achieve sustainable growth. Moreover, green ratings for companies listed on the stock market could be crucial options for combining sustained growth, modernization, and innovation. Part of the analysis is based on the EIIW-vita global sustainability indicator.
1 citations
TL;DR: In this article, the authors study the optimal fiscal policy in an economy where heterogeneous agents with uncertain lifetimes coexist and show that some plausible social welfare functions lead to time-inconsistent optimal plans, and suggest restrictions on social preferences that avoid the problem.
Abstract: This paper studies optimal fiscal policy in an economy where heterogeneous agents with uncertain lifetimes coexist. We show that some plausible social welfare functions lead to time-inconsistent optimal plans, and we suggest restrictions on social preferences that avoid the problem. The normative prescriptions of a time-consistent utilitarian planner generalize the 'two-part Golden Rule" suggested by Samuelson, and imply aggregate dynamics similar to those arisingin the Cass-Koopmans-Ramsey optimal growth framework. We characterize lump-sum transfer schemes that allow the optimal allocation to be decentralized as the competitive equilibrium of an economy with actuarially fair annuities. The lump-sum transfers that accomplish this decentralization are age dependent in general.
1 citations
TL;DR: In this paper, the authors revisited this hypothesis by including two hitherto ignored airlines Southwest Airlines and JetBlue Airways who are practitioners of the everyday low price (EDLP) strategy and found that this golden rule is violated when airlines engage in multimarket contact with these two airlines, and identified firm-specific differences in the overall pricing strategy as the source of this anomaly.
Abstract: A seminal work in the mid-nineties finds that airlines charge higher fares in markets where they engage in extensive multimarket contact, thus empirically attesting to industry expert claims that airlines live by the 'golden rule' (i.e., avoid undercutting in jointly contested routes). Our research revisits this hypothesis by including two hitherto ignored airlines Southwest Airlines and JetBlue Airways who are practitioners of the everyday low price (EDLP) strategy. We find that this golden rule is violated when airlines engage in multimarket contact with these two airlines, and identify firm-specific differences in the overall pricing strategy as the source of this anomaly.
1 citations
01 Jan 2018
TL;DR: Kury et al. as discussed by the authors further systematize and develop some ideas from their earlier text "United Nations Earth jurisprudence, its Golden Rule, the'refugee problem' and urban safety".
Abstract: This article seeks further to systematize and develop some ideas from my earlier text “United Nations ‘Earth jurisprudence’, its Golden Rule, the ‘refugee problem’ and urban safety”. In: Kury, H, & Redo, S. Refugees and Migrants in Law and Policy – Challenges and Opportunities for Global Civic Education. Springer: Berlin- Heidelberg- New York (2018). The author thanks Prof. Dr., Dr. h.c. mult. Helmut Kury (Germany), Tamara Mitrofanenko (Consultant, United Nations Environmental Programme, Vienna), and Margaret Shaw (Crime and Social Policy Consulting, Montreal, QC, Canada) for their comments on an earlier draft of this text.
1 citations