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The role of media for inflation forecast disagreement of households and professional forecasters
Maag, Thomas; Lamla, Michael - 2009
This paper investigates the effects of media coverage and macroeconomic conditions on inflation forecast disagreement of German households and professional forecasters. We adopt a Bayesian learning model in which media coverage of inflation affects forecast disagreement by influencing...
Persistent link: https://www.econbiz.de/10003908680
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The euro cash changeover, inflation perceptions and the media
Lamla, Michael; Lein-Rupprecht, Sarah M. - 2010
In the aftermath of the euro cash changeover consumers’ inflation perceptions rose substantially in the euro area … reporting has a statistically significant and economically meaningful impact on inflation perceptions and contributed to their … sharp rise in the aftermath of the euro cash changeover. -- Monetary policy ; inflation perceptions ; media coverage ; media …
Persistent link: https://www.econbiz.de/10008729146
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The information environment and the investment decisions of multinational corporations
Shroff, Nemit; Verdi, Rodrigo S.; Yu, Gwen - 2012 - Current draft: March 2012
This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with more transparent...
Persistent link: https://www.econbiz.de/10009579236
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Communication and decision-making in corporate boards
Malenko, Nadya - 2011
Time constraints, managerial power, and reputational concerns can impede board communication. This paper develops a model where board decisions depend on directors' effort in communicating their information to others. I show that directors communicate more effectively when pressure for...
Persistent link: https://www.econbiz.de/10009506636
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Trend growth expectations and US house prices before and after the crisis
Hoffmann, Mathias; Krause, Michael; Laubach, Thomas - 2012
We provide an analysis that might help distinguish rationally justified movements in house prices from potentially non-rational movements, using a two-sector business cycle model, in which investment in housing is subject to collateral constraints. A large portion of the evolution of U.S. house...
Persistent link: https://www.econbiz.de/10009528869
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Endogenous public information and welfare
Vives, Xavier - 2011
This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...
Persistent link: https://www.econbiz.de/10009259934
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De-biasing strategic communication?
Gesche, Tobias - 2016
This paper studies the effect of disclosing conflicts of interests on strategic communication when the sender has lying costs. I present a simple economic channel under which such disclosure often leads to more biased messages. This hurts receivers who are naive or delegate their choice while...
Persistent link: https://www.econbiz.de/10011420613
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Network formation with local complements and global substitutes : the case of R&D networks
Hsieh, Chih-sheng; König, Michael D.; Liu, Xiaodong - 2016 - This version: February 15, 2016
We analyze R&D collaboration networks in industries where firms are competitors in the product market. Firms' benefits from collaborations arise by sharing knowledge about a cost-reducing technology. By forming collaborations, however, firms also change their own competitive position in the...
Persistent link: https://www.econbiz.de/10011429537
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Do works councils raise or lower firm productivity? : works councils can have a positive impact on firm productivity, but only when specific conditions are in place
Hübler, Olaf - 2015
The German model of co-determination (Mitbestimmung) with works councils, in which workers are involved in the management of a company, was a role model for other countries for many years. However, since the 1990s the appeal of works councils has been declining, to the extent that now even...
Persistent link: https://www.econbiz.de/10011430237
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Der Strommarkt als soziale Institution : eine erweiterte Perspektive auf die deutsche Diskussion um Kapazitätsmechanismen
Ellenbeck, Saskia; Schmidt, Peter; Battaglini, Antonella; … - In: Vierteljahrshefte zur Wirtschaftsforschung 82 (2013) 3, pp. 171-182
Ausgangspunkt für Forderungen nach einer Einführung von Kapazitätsmechanismen im deutschen Strommarkt ist die Beobachtung, dass das gegenwärtige Investitionsverhalten der Marktakteure zu einem unzureichenden Niveau der Stromversorgungssicherheit führen könnte. In dem vorliegenden Beitrag...
Persistent link: https://www.econbiz.de/10011289592