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Industry-wide voluntary agreements are touted as a means for corporations to take more corporate social responsibility (CSR). We study what type of joint CSR agreement induces firms to increase CSR efforts in a model of oligopolistic competition with differentiated products. Consumers have a...
Persistent link: https://www.econbiz.de/10012591411
We empirically evaluate a behavioural model with boundedly rational traders who disagree about the persistence of deviations from the fundamental stock price. Fundamentalist traders believe in mean-reversion, while chartists extrapolate trends. Agents gradually switch between the two rules,...
Persistent link: https://www.econbiz.de/10011301214
Hybrid governance structures between markets and hierarchies in many industries, e.g., in energy and telecommunications, challenge antitrust and regulation policy. The paper focuses on the theoretical and methodological basis provided by the New Institutional Economics (NIE) for analyzing the...
Persistent link: https://www.econbiz.de/10011490672
Persistent link: https://www.econbiz.de/10000980737
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This paper presents a theoretical gravity model of trade in which foreign aid is considered as a transfer instead of being part of the trade cost, as it has been previously done in the related literature. We argue that the usual specification leads to invalid out-of-sample predictions, biased...
Persistent link: https://www.econbiz.de/10011521275
Investment (FDI). The conventional proximity-concentration theory suggests that FDI substitutes for trade if distance between …
Persistent link: https://www.econbiz.de/10011378320
This paper is concerned with rules of origin when intermediate goods aredifferentiated. An analytical model emphasizes trade patterns and the relativeimportance of trade in intermediates given trade preferences. Econometric evidencebased on intra-OECD trade in motor vehicles and motor vehicle...
Persistent link: https://www.econbiz.de/10011346488
One key focus of the on-going debate on the integration of international financial markets have been measures to lengthen the maturity of foreign debt. Short-term debt is typically considered to be volatile and thus a potential trigger of currency crises. In contrast to the vivid policy debate...
Persistent link: https://www.econbiz.de/10011472278
, misspecifies the relationship between education and the stock of human capital. Based on human capital theory, the specification of … of education. Cross-country differences in qualityadjusted human capital can account for about half the world …
Persistent link: https://www.econbiz.de/10011473489