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Market Fragmentation
Chen, Daniel - 2020
We model a simple market setting in which fragmentation of trade of the same asset across multiple exchanges improves allocative efficiency. Fragmentation reduces the inhibiting effect of price-impact avoidance on order submission. Although fragmentation reduces market depth on each exchange, it...
Persistent link: https://www.econbiz.de/10012479351
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Outsourcing Tariff Evasion : A New Explanation for Entrepot Trade
Fisman, Raymond - 2007
Traditional explanations for indirect trade through an entrepot have focused on savings in transport costs and on the role of specialized agents in processing and distribution. We provide an alternative perspective based on the possibility that entrepots may facilitate tariff evasion. Using data...
Persistent link: https://www.econbiz.de/10012465839
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The Rise of Domestic Outsourcing and the Evolution of the German Wage Structure
Goldschmidt, Deborah - 2015
to contracting firms. For this end we develop a new method for identifying outsourcing of food, cleaning, security and … growth of domestic outsourcing in Germany since the early 1990s. Event-study analyses show that wages in outsourced jobs fall … associated with outsourcing stem from a loss of firm-specific rents, suggesting that labor cost savings are an important reason …
Persistent link: https://www.econbiz.de/10012457302