Showing 1 - 10 of 24
This paper examines how supply-side policies may play a role in fighting a low aggregate demand that traps an economy at the zero lower bound (ZLB) of nominal interest rates. Future increases in productivity or reductions in mark-ups triggered by supply-side policies generate a wealth effect...
Persistent link: https://www.econbiz.de/10009367422
The paper surveys unemployment policies for advanced market economies and evaluates them by examining the predictions of the underlying macroeconomic theories. The basic idea is that, for the most part, different unemployment policy prescriptions rest on different macroeconomic theories, and our...
Persistent link: https://www.econbiz.de/10005136538
This paper analyzes optimal procurement mechanisms in a setting where the procurement agency has incomplete information concerning the firms' cost functions and cares about quality as well as price. Low type firms are cheaper than high type firms in providing low quality but more expensive when...
Persistent link: https://www.econbiz.de/10009385768
In this paper, we analyse employment and capital adjustments using a panel of plants from Colombia. We allow for nonlinear adjustment of employment to reflect not only adjustment costs of labour but also adjustment costs of capital, and vice-versa. Using data from the Annual Manufacturing...
Persistent link: https://www.econbiz.de/10005124008
(deregulation) and improving contractual enforcement (legal reform). Deregulation fosters entry, thereby increasing the number of … deregulation, as it preserves incumbents' rents, while at the same time allowing the less efficient among them to transfer control …
Persistent link: https://www.econbiz.de/10005124360
Product and labour market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … market deregulation, we then use our results to study two specific issues. First, to shed light on macroeconomic evolutions …
Persistent link: https://www.econbiz.de/10005136620
This paper analyzes the impact of deregulation and market integration policies on the structure of European banking …
Persistent link: https://www.econbiz.de/10005067386
This Paper develops an argument explaining why retail prices may rise in response to the deregulation of opening hours …
Persistent link: https://www.econbiz.de/10005497961
This paper evaluates the effects of liberalizing access to the space sector, as currently envisaged by the EC Commission. We undertake an econometric evaluation of the degree of scale economies in satellite operations and calibrate a Cournot model of competition in which the effect of...
Persistent link: https://www.econbiz.de/10005504256
policy shocks such as deregulation. More generally, we demonstrate that product switching gives rise to a richer set of …
Persistent link: https://www.econbiz.de/10005504461