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Heterogeneous Merger Impacts on Competitive Outcomes

Siebert, Ralph - 2017

Mergers realize heterogeneous competitive effects on profits, production, and prices. To date, it is unclear whether differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger studies conventionally assume that, conditional on...

Persistent link: https://www.econbiz.de/10012948252

Modelling Economic Impacts of Alternative International Climate Policy Architectures : A Quantitative and Comparative Assessment of Architectures for Agreement

Bosetti, Valentina - 2013

successors to the Kyoto protocol are assessed according to four criteria: economic efficiency; environmental effectiveness …

Persistent link: https://www.econbiz.de/10012753436

Macroeconomic Consequences of Distributional Conflicts

Schaefer, Andreas; Steger, Thomas Michael - 2021

This paper aims at better understanding the inefficiency due to distributional conflicts, which are inherent in every market economy. To this end, we set up a simple general equilibrium model with the following characteristics: two groups of agents (capitalists and workers), an endogenous income...

Persistent link: https://www.econbiz.de/10013317028

Taxation, Industry Integration and Production Efficiency

Moriconi, Simone - 2016

economies. Theories of optimal taxation conclude that these taxes are detrimental to production efficiency, when firms operate … production units. The present paper investigates the effects of taxation on production efficiency, accounting for the … effect of this "tax induced organizational change" on production efficiency ultimately depends on the characteristics of the …

Persistent link: https://www.econbiz.de/10012984733

Market Liberalization in the European Natural Gas Market - The Importance of Capacity Constraints and Efficiency Differences

Brakman, Steven; van Marrewijk, Charles; van … - 2021

In the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen...

Persistent link: https://www.econbiz.de/10013316347

Channel Systems : Why is There a Positive Spread?

Berentsen, Aleksander - 2010

An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model...

Persistent link: https://www.econbiz.de/10013135781

The Impact of Market Regulations on Intra-European Real Exchange Rates

Bénassy-Quéré, Agnès - 2013

We study the contribution of market regulations in the dynamics of the real exchange rate within the European Union. Based on a model proposed by De Gregorio et al. (1994a), we show that both product market regulations in nontradable sectors and employment protection tend to inflate the real...

Persistent link: https://www.econbiz.de/10013087275

Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area

Peersman, Gert - 2013

I find that the Eurosystem can stimulate the economy beyond the policy rate by increasing the size of its balance sheet or the monetary base, that is so-called quantitative easing. The transmission mechanism turns out to be different compared to traditional interest rate innovations: whilst the...

Persistent link: https://www.econbiz.de/10013092365

Fiscal Policies and Business Cycles in an Enlarged Euro Area

Staehr, Karsten - 2008

This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future members from Central and Eastern Europe. For the sample period 1995-2005, the fiscal balance exhibits less inertia and is more counter-cyclical in Central and Eastern European...

Persistent link: https://www.econbiz.de/10012773620

The Heterogeneous Impact of Brexit : Early Indications from the FTSE

Davies, Ronald B. - 2017

The UK's decision to leave the EU is surrounded by several studies simulating its potential effects. Alternatively, we examine expectations embodied in stock returns using a two-part estimation process. While most firms' prices fell, there was considerable heterogeneity in their relative...

Persistent link: https://www.econbiz.de/10012954358

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