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New Trade Theory Takes Over Monetary Theory

Gani, M - EconWPA - 2004

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

Persistent link: https://www.econbiz.de/10005408069

Internet Intermediaries' Editorial Content Quality

Gaudeul, Alexandre - EconWPA - 2004

Information intermediaries deliver information about a supplier's product. They are paid by those same suppliers they certify. This introduces conflicts of interests as the intermediaries want to retain customers by delivering truthful information about suppliers, while suppliers would want the...

Persistent link: https://www.econbiz.de/10005076854

E-commerce, two-sided markets and info-mediation

Gaudeul, Alexandre; Jullien, Bruno - EconWPA - 2005

Participants in a market, buyers and sellers, may need the service of an intermediary who will put them into contact and give them information about their potential trading partner. The intermediary chooses what price it will charge to each side to have access to its service. It also chooses...

Persistent link: https://www.econbiz.de/10005134532

The Effects of E-commerce on the Structure of Intermediation

Schmitz, Stefan W. - EconWPA - 2002

interpreting intermediation as a single service it is pointed out that intermediaries can provide a number of services. The … intermediation services studied are, generally, not under threat by the diffusion of electronic commerce. The overall effects on … intermediation depend on the relevance of these services relative to others (e.g. order processing) which are supposed to become …

Persistent link: https://www.econbiz.de/10005412901

E-commerce : Quelques éléments d'économie industrielle

Gaudeul, Alexandre; Jullien, Bruno - EconWPA - 2004

L'exposé présente un certain nombre d'éléments expliquant pourquoi les activités se développant sur le Net ne peuvent pas être bien appréhendées dans un contexte de concurrence parfaite, et discute la nature des barrières à l'entrée. Nous verrons que l'essentiel des changements...

Persistent link: https://www.econbiz.de/10005561467

Leading Indicators of Euroland Business Cycles

Fritsche, Ulrich; Marklein, Felix - EconWPA - 2001

The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...

Persistent link: https://www.econbiz.de/10005076700

No More Rocking Horses: Trading Business-Cycle Depth for Duration Using an Economy-Specific Characteristic.

Mikhail, Ossama - EconWPA - 2004

Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of the idiosyncratic and non-synchronized behavior of the business cycle over time within and across countries. In this paper, I propose a stochastic dynamic general equilibrium...

Persistent link: https://www.econbiz.de/10005076708

Do probit models help in forecasting turning points of German business cycles?

Fritsche, Ulrich - EconWPA - 2001

In this paper we used a data set constructed for a companion paper (Fritsche/Stephan, 2000) where we explored the leading indicator properties of different time series for the German business cycle. Now we test for the ability of different indicator series to forecast recessions by using a...

Persistent link: https://www.econbiz.de/10005076772

Monetary Policy Effect on the Business Cycle Fluctuations: Output vs. Index Measures of the Cycle

Korenok, Oleg; Radchenko, Stanislav - EconWPA - 2004

The paper analyzes two questions: (i) the effect of a monetary policy shock on the business cycle and (ii) the extent to which a shift in a monetary policy affects the dynamics of business cycle. Unlike previous literature, to answer these questions, we measure cycle movements by calculating an...

Persistent link: https://www.econbiz.de/10005076805

Power Law Tails in the Italian Personal Income Distribution

Clementi, Fabio; Gallegati, Mauro - EconWPA - 2005

We investigate the shape of the Italian personal income distribution using microdata from the Survey on Household Income and Wealth, made publicly available by the Bank of Italy for the years 1977-2002. We find that the upper tail of the distribution is consistent with a Pareto power-law type...

Persistent link: https://www.econbiz.de/10005077072