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Marin, Dalia; Verdier, Thierry - Volkswirtschaftliche Fakultät, … - 2002

Globalization has been identified by many experts as a new way firms organize their activities and as the emergence of human capital as the new stakeholder of the firm. This paper surveys recent work which examines the role of trade integration for these changes in corporate organization. More...

Persistent link: https://www.econbiz.de/10005187271

Ownership, Capital or Outsourcing: What Drives German Investment to Eastern Europe?

Marin, Dalia; Lorentowicz, Andzelika; Raubold, Alexander - Volkswirtschaftliche Fakultät, … - 2002

The paper takes a first look at the host and home country effects of German FDI in Eastern Europe (EE) based on new survey data of 1050 investment projects in EE by 420 German multinationals during the 1990s. We find that German investors transfer a substantial amount of financial capital to EE....

Persistent link: https://www.econbiz.de/10005187276

A Case Where Barro Expectations Are Not Rational

Schlicht, Ekkehart - Volkswirtschaftliche Fakultät, … - 2012

This note generalizes Feldstein’s (1976) criticism of Barro’s(1974) analysis for the case that the interest rate exceeds the growth rate. This is done by considering an economy in steady state where all agents hold “Barro expectations”: they believe that government debt must necessarily...

Persistent link: https://www.econbiz.de/10009493831

Liquidity Shortages and Monetary Policy

Illing, Gerhard; Cao, Jin - Volkswirtschaftliche Fakultät, … - 2007

the absence of central bank intervention, the incentive of financial intermediaries to free ride on liquidity in good … states may result in excessively low liquidity in bad states. In the prevailing mixed-strategy equilibrium, depositors are … worse off than if banks would coordinate on more liquid investment. It is shown that public provision of liquidity improves …

Persistent link: https://www.econbiz.de/10005187289

Central Bank's Action and Communication

Baeriswyl, Romain - Volkswirtschaftliche Fakultät, … - 2007

This paper contributes to the ongoing debate about the welfare effect of public information. In an environment characterized by imperfect common knowledge and strategic complementarities, Morris and Shin (2002)argue that noisy public information may be detrimental to welfare because public...

Persistent link: https://www.econbiz.de/10005187307

Can Opacity of a Credible Central Bank Explain Excessive Inflation?

Baeriswyl, Romain; Cornand, Camille - Volkswirtschaftliche Fakultät, … - 2007

Excessive inflation is usually attributed to the lack of central bank’s credibility. In this context, most of the literature considers transparency a means to establish central bank’s credibility. The contribution of this paper is twofold. First, it shows that, even in the absence of...

Persistent link: https://www.econbiz.de/10005187336

Three Liquidity Crises in Retrospective: Implications for Central Banking Today

Sauer, Stephan - Volkswirtschaftliche Fakultät, … - 2007

Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed …, provided emergency liquidity to limit the negative effects of such crises. However, the anecdotal and empirical evidence from … the three crises shows that such emergency liquidity assistance implies risks to goods price stability if it is not …

Persistent link: https://www.econbiz.de/10005121208