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Behavioral Heterogeneity in U.S. Inflation Dynamics
Cornea, Adriana; Hommes, Cars; Massaro, Domenico - Tinbergen Instituut - 2013
In this paper we develop and estimate a behavioral model of inflation dynamics with monopolistic competition, staggered … naive. Fundamentalists are forward-looking in the sense that they believe in a present-value relationship between inflation … forecast future inflation. Agents are allowed to switch between these different forecasting strategies conditional on their …
Persistent link: https://www.econbiz.de/10011256332
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Derived Measurement in Macroeconomics: Two Approaches for Measuring the NAIRU Considered
Rodenburg, Peter - Tinbergen Instituut - 2007
This paper investigates two different procedures for the measurement of the NAIRU; one based on structural modeling while the other is a statisticai approach using Vector Auto Regression (VAR)-models. Both measurement procedures are assessed by confronting them with the dominant theory of...
Persistent link: https://www.econbiz.de/10011255598
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Multiple Causation and the Measurement of Unemployment
Rodenburg, Peter - Tinbergen Instituut - 2004
The establishment of appropriate policy measures for fighting unemployment has always been difficult since causes of … unemployment are hard to identify. This paper analyses an approach used mainly in the 1960s and 1970s in economics, in which … classification is used as a way to deal with such a complex, multiple causal phenomenon like unemployment. The method is based on …
Persistent link: https://www.econbiz.de/10011257466
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Internet Retailing as a Marketing Strategy
Janssen, Maarten C.W.; Noll, Rob van der - Tinbergen Instituut - 2005
We analyze the incentives for incumbent bricks-and-mortar firms and newentrants to start an online retail channel in a differentiated goods market. Tothis end we set up a two-stage model where firms first decide whether or notto build the infrastructure necessary to start an online retail...
Persistent link: https://www.econbiz.de/10011256443
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Electronic Commerce and Retail Channel Substitution
Janssen, Maarten C.W.; Noll, Rob van der - Tinbergen Instituut - 2002
We analyze a market where firms compete in a conventional and an electronicretail channel. Consumers easily compare prices online, but some incur purchaseuncertainties on the online channel. We investigate the market shares of the two retailchannels and the prices that are charged. We find that...
Persistent link: https://www.econbiz.de/10011256808
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A Triptych Inquiry: Rethinking Sustainability, Innovation, and Financial Performance
Busch, Timo; Stinchfield, Bryan T.; Wood, Matthew S. - Tinbergen Instituut - 2011
Management scholars have sought to answer the question: is there a financial payoff for ad-dressing ecological and social issues? We move beyond this question and include a time com-ponent for corporate financial performance (CFP) and a firm’s innovativeness in order to ask: when does it pay?...
Persistent link: https://www.econbiz.de/10011256662
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Corporate Social Responsibility, Negative Externalities, and Financial Risk: The Case of Climate Change
Busch, Timo; Lehmann, Nils; Hoffmann, Volker H. - Tinbergen Instituut - 2012
Certain types of corporate social responsibility (CSR) activities can generate an ‘insurance-like’ benefit for firms (Godfrey, 2005). Thus far, this risk management hypothesis has been verified for the effects of firm-specific negative events. We argue that this insurance-like benefit of...
Persistent link: https://www.econbiz.de/10011256908
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Procurement: The Transaction Costs Perspective in a Globalising World
Butter, Frank A.G. den - Tinbergen Instituut - 2007
Fragmentation of production into more and more complex supply chains is a prominent feature of globalisation. It implies that transaction costs as part of total costs of ownership carry a large weight in procurement decisions. An analysis of the various types of transaction costs is also...
Persistent link: https://www.econbiz.de/10011257331
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When a Price is Enough: Implementation in Optimal Tax Design
Renes, Sander; Zoutman, Floris T. - Tinbergen Instituut - 2014
This paper studies the design of tax systems that implement a planner's second-best allocation in a market economy. An example shows that the widely used Mirrleesian (1976) tax system cannot implement all incentive-compatible allocations. Hammond's (1979) "principle of taxation" proves that any...
Persistent link: https://www.econbiz.de/10011272586
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Is Transparency to no avail? Committee Decision-making, Pre-meetings, and Credible Deals
Swank, Otto H.; Visser, Bauke - Tinbergen Instituut - 2007
Transparent decision-making processes are widely regarded as a prerequisite for the working of a representative democracy. It facilitates accountability, and citizens may suspect that decisions, if taken behind closed doors, do not promote their interests. Why else the secrecy? We provide a...
Persistent link: https://www.econbiz.de/10011255492