Given the scarcity of resources an economic approach is necessary in order to determine an optimal strategy of adaptation to climate change. In this paper we develop an economic framework for the study of…
The provision of public goods often relies on voluntary contributions and cooperation. Many economic experiments have studied the determinants of cooperative behavior as well as the implementation of…
This paper presents a new corporate microsimulation model, ZEW TaxCoMM, which allows for the coherent micro-based analysis (ex ante and ex post) of reform induced revenue implications and the distribution of the…
What is the optimal degree of income tax progressivity when both labour supply and wages are endogenous, and households are heterogeneous in several dimensions? This question is answered using a numerical…
Theoretical and practical portfolio management has been affected by the Modern Portfolio Theory (MPT) suggested by Markowitz (1952) for almost 60 years. An almost innumerable amount of research on this topic has…
Ever since the seminal papers of Fama (1965, 1970), the analysis of the efficient market hypothesis has been a key topic in both theoretical and empirical capital market analysis. The efficient market hypothesis…