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Making Sense of Non-Binding Retail-Price Recommendations
Buehler, Stefan; Gärtner, Dennis L. - CESifo - 2010
We model non-binding retail-price recommendations (RPRs) as a communication device facilitating coordination in vertical supply relations. Assuming both repeated vertical trade and asymmetric information about production costs, we show that RPRs may be part of a relational contract,...
Persistent link: https://www.econbiz.de/10008583652
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Cooperation and Mistrust in Relational Contracts
Herz, Holger - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10012981595
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International Inflation Spillovers Through Input Linkages
Auer, Raphael - 2017
We document that observed international input-output linkages contribute substantially to synchronizing producer price inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange rates with international and domestic input-output...
Persistent link: https://www.econbiz.de/10012958731
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The Globalisation of Inflation : The Growing Importance of Global Value Chains
Auer, Raphael - 2017
Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper presents evidence that the expansion of global value chains (GVCs), ie cross-border trade in intermediate goods and services, is an important channel through which global...
Persistent link: https://www.econbiz.de/10012958886
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Globalization and Income Inequality Revisited
Dorn, Florian; Fuest, Clemens; Potrafke, Niklas - 2021
This paper re-examines the link between globalization and income inequality. We use data for 140 countries over the … period 1970-2014 and employ an IV approach to deal with the endogeneity of globalization measures. We find that the link … between globalization and income inequality differs across different groups of countries. There is a robust positive …
Persistent link: https://www.econbiz.de/10013315438
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Subprime Crisis and Board (In-)Competence: Private vs. Public Banks in Germany
Hau, Harald; Thum, Marcel - CESifo - 2009
and study if the bank losses can be traced to the quality of bank governance. For this purpose, we examine the … supervisory board (in-)competence in finance is related to losses in the financial crisis. Improved bank governance is therefore a …
Persistent link: https://www.econbiz.de/10005051557
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Ethnic Fractionalization, Governance and Loan Defaults in Africa
Andrianova, Svetlana; Baltagi, Badi H.; Demetriades, Panicos - CESifo - 2014
quality of governance) and the degree of market segmentation (depending on the level of ethnic fractionalization). The model …
Persistent link: https://www.econbiz.de/10010948811
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The Diversity of Debt Crises in Europe
Stein, Jerome L. - 2011
The foreign debts of the European countries are at the core of the current crises. Generally, the crises are attributed to government budget deficits in excess of the values stated in the Stability and Growth Pact (SGP)/Maastricht treaty. Proposals for reform generally involve increasing the...
Persistent link: https://www.econbiz.de/10013130015
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Membership has Its Privileges - The Effect of Membership in International Organizations on FDI
Dreher, Axel - 2010
We argue that membership in International Organizations (IOs) is an important determinant of FDI inflows. To the extent that membership restricts a country from pursuing policies that are harmful to investors, it can signal low political risk. Using data over the 1971-2005 period, we find that...
Persistent link: https://www.econbiz.de/10013136347
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Reciprocity, World Prices and Welfare
Raimondos, Pascalis - 2011
We examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices in a world of many goods and countries. While it is...
Persistent link: https://www.econbiz.de/10013119523