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The Intrinsic Value of Decision Rights
Bartling, Björn; Fehr, Ernst; Herz, Holger - CESifo - 2013
Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal – at least partly – from an assumed positive...
Persistent link: https://www.econbiz.de/10010660133
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Use and Abuse of Authority - A Behavioral Foundation of the Employment Relation
Bartling, Björn; Fehr, Ernst; Schmidt, Klaus - CESifo - 2013
Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...
Persistent link: https://www.econbiz.de/10010604419
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Taking the Temperature - Forecasting GDP Growth for Mainland China
Curran, Declan; Funke, Michael - Institut für Makroökonomie und Wirtschaftspolitik, … - 2006
We present a new composite leading indicator of economic activity in mainland China, estimated using a dynamic factor …
Persistent link: https://www.econbiz.de/10005823523
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Economic Growth across Space and Time: subprovincial Evidence from Mainland China
Curran, Declan; Funke, Michael; Wang, Jue - Institut für Makroökonomie und Wirtschaftspolitik, … - 2007
We present a new composite leading indicator of economic activity in mainland China, estimated using a dynamic factor …
Persistent link: https://www.econbiz.de/10005823531
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Volatility Transmission between Renminbi and Asia-Pacific on-shore and off-shore U.S. dollar futures
Colavecchio, Roberta; Funke, Michael - Institut für Makroökonomie und Wirtschaftspolitik, … - 2008
This paper uses multivariate GARCH techniques to study volatility spillovers between the Chinese non-deliverable forward market and seven of its Asia-Pacific counterparts over the period January 1998 to March 2005. To account for the time-variability of conditional correlation, a dynamic...
Persistent link: https://www.econbiz.de/10005823534
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The undisclosed Renminbi Basket: are the markets telling us something about where the Renminbi - US Dollar Exchange Rate is going?
Gronwald, Marc; Funke, Michael - Institut für Makroökonomie und Wirtschaftspolitik, … - 2008
On 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual …
Persistent link: https://www.econbiz.de/10005823536
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The emergence and spatial distribution of Chinese seaport cities
Funke, Michael; Yu, Hao - Institut für Makroökonomie und Wirtschaftspolitik, … - 2011
Seaports have historically played a key role in facilitating trade and growth. This paper is the first attempt in the literature to analyse the formation of Chinese seaport cities and the dynamics that drives it. First, we aim to identify theoretically the emergence of urbanized seaports with...
Persistent link: https://www.econbiz.de/10010856694
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The dynamics of catch-up and skill and technology upgrading in China
Funke, Michael; Chen, Xi - Institut für Makroökonomie und Wirtschaftspolitik, … - 2012
This paper accounts for China?s economic growth since 1980 in a uni-fied endogenous growth model in which a sequencing … of physical capital accumula-tion, human capital ac-cumulation and innovation drives the rise in China?s aggre … can generate a trajectory that accords well with the different stages of development in China. …
Persistent link: https://www.econbiz.de/10010559446
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Economic Growth Across Chinese Provinces: In Search of Innovation-Driven Gains
Funke, Michael; Yu, Hao - Institut für Makroökonomie und Wirtschaftspolitik, … - 2009
in China is not explained simply by factor input accumulation. …
Persistent link: https://www.econbiz.de/10010559447
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China's new labour contract law: No harm to employment?
Funke, Michael; Chen, Yu-Fu - Institut für Makroökonomie und Wirtschaftspolitik, … - 2009
In January 2008, China imposed a new labour contract law. This new law is the most significant reform to the law of … employment relations in mainland China in more than a decade. The paper provides a theoretical framework on the inter …
Persistent link: https://www.econbiz.de/10010559450