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Incentives for Basic Research in a Large Institution: Some General Considerations and a Case Study

Discusses incentives for basic research, which were recently introduced in the German Institute for Economic Research, including both team and individual incentives. Possible problems arise from focussing on the measurable, crowding out intrinsic motivation and undesirable externalities. Furthermore, provides survey evidence on the perception of the incentives by the institute's researchers.

Implementing the Kyoto Protocol without Russia

This paper examines implementation of the Kyoto Protocol without Russia. It concludes that implementation without Russia is possible, although it requires political will on the part of the countries that wish to proceed with the Protocol. It would lead to higher compliance costs for Annex B buyer regions, but other regions, except Russia, would benefit financially. Russia would forego revenue of at ...

OPEC's Optimal Crude Oil Price

In March 2000, OPEC decided to stabilise oil prices within a range of 22-28 US-Dollar/barrel of crude oil. Such an oil-price-level is far beyond the short and long run marginal costs of oil production, beyond even that in regions with particularly high costs. Nevertheless, OPEC may achieve its goal if world demand for oil increases substantially in the future and oil resources outside the OPEC are ...

In the Aftermath of Dresden: New Directions in German Flood Insurance

The German flood disaster of summer 2002 highlighted a dilemma concerning insurance against damages caused by natural forces. On the one hand, mindful of the rising incidence of natural disasters, private insurance companies are increasingly withdrawing coverage against natural catastrophes such as wind storms and floods. On the other, the availability of emergency relief and private donations is systematically ...

Vertical Foreclosure versus Downstream Competition with Capital Precommitment

The recent literature on vertical foreclosure suggests that vertical integration can have the anticompetitive effect of enabling an upstream firm to commit to restricting output to downstream firms at the monopoly level. We allow the upstream firm to make an ex-ante capital precommitment. We show that, if integration is outlawed, the upstream firm will distort capital downward as an alternative device ...

Games of Climate Change with International Trade

We analyse games of greenhouse gas emission reduction in which the emissions and the emission reduction costs of one country depend on other countries' emission abatement. In an analytically tractable model, we show that international trade effects on costs and emissions can either increase or decrease incentives to reduce emissions and to cooperate on emission abatement; in some specifications, optimal ...

The Economic Consequences of Terror: Guest Editor's Introduction

This introduction notes the importance of the economic evaluation of the consequences of terror and summarizes the contributions in this special issue.

Terrorism and International Trade: An Empirical Investigation

This paper examines the effect of terrorism and warfare on international trade. We investigate bilateral trade flows between more than 200 countries over the period from 1960 to 1993. Applying an augmented gravity model that includes several measures of terrorism and large-scale violence, we find compelling evidence that terrorist actions reduce the volume of trade; a doubling in the number of terrorist ...

Der Einfluss von Persönlichkeitseigenschaften und sozialen Ressourcen auf die Arbeitslosigkeitsdauer

Economic Integration, Wage Policies, and Social Policies

This paper sets up a two country monopolistic competition model with intra-industry trade to study the effects of an exogenous differential in wage and social policies on the location of industry. Two model scenarios are considered. In the traditional one with physical capital, such a differential induces a relocation effect which increases with the level of trade integration. The 'new economic geography' ...