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The Micro Dynamics of Macro Announcements

Mittnik, Stefan; Robinzonov, Nikolay; Wohlrabe, Klaus - CESifo - 2013

We examine how regularly scheduled macroeconomic announcements for the U.S., Germany and the euro area affect the German stock market, using high–frequency, minute–by–minute DAX data. Our study extends the literature on high–frequency announcement effects in several ways. First, we...

Persistent link: https://www.econbiz.de/10010877723

Efficiency Potential and Efficiency Variation in Norwegian Lower Secondary Schools

Borge, Lars-Erik - 2006

The paper performs an efficiency analysis of the lower secondary school sector in Norway. The efficiency potential is … background) as outputs. The analysis of the determinants of efficiency indicates that a high level of municipal revenue, a high … efficiency. The negative effects of the share of socialists and party fragmentation seem to reflect both higher resource use and …

Persistent link: https://www.econbiz.de/10012783363

Racial Discrimination in Local Public Services : A Field Experiment in the US

Giulietti, Corrado - 2015

Discrimination in access to public services can act as a major obstacle towards addressing racial inequality. We examine whether racial discrimination exists in access to a wide spectrum of public services in the US. We carry out an email correspondence study in which we pose simple queries to...

Persistent link: https://www.econbiz.de/10013013081

Even Small Trade Costs Restore Efficiency in Tax Competition

Becker, Johannes - 2010

We introduce transport cost of trade in products into the classical Zodrow and Mieszkowski (1986) model of capital tax competition. It turns out that even small levels of transport cost lead to a complete breakdown of the seminal result, the underprovision of public goods. Instead, there is a...

Persistent link: https://www.econbiz.de/10013136648

Illiquidity and Under-Valuation of Firms

Gale, Douglas M. - 2012

restore the efficiency of equilibria …

Persistent link: https://www.econbiz.de/10013116475

Efficiency and Environment Impacts of Electricity Restructuring on Coal-Fired Power Plants

Chan, H. Ron - 2013

We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area … without. Our analysis finds that restructuring led to: (1) a two percent improvement in fuel efficiency for IOs, (2) a ten …

Persistent link: https://www.econbiz.de/10013084009

Upstream Horizontal Mergers and Efficiency Gains

Milliou, Chrysovalantou - 2009

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … can give rise to two efficiency-enhancing effects when firms trade through two-part tariffs. It increases R&D investments … efficiency gains can overcome its anti-competitive effects in terms of welfare, we show that when firms merge usually both of the …

Persistent link: https://www.econbiz.de/10013157197

Efficiency Enhancing Taxation in Two-Sided Markets

Kind, Hans Jarle - 2008

This paper examines the efficient provision of goods in two-sided markets and characterizes optimal specific and ad-valorem taxes. We show that (i) a monopoly may have too high output compared to the social optimum; (ii) output may be reduced by imposing negative value-added taxes (subsidy) or...

Persistent link: https://www.econbiz.de/10012772273

Petchey's (2015) Extension of Oates & Schwab's (1988) Efficiency Result Revisited

Eichner, Thomas - 2017

disposal a capital tax and an environmental standard. Petchey (2015) claims that the efficiency result of Oates and Schwab can … be extended to a large price-influencing jurisdiction. In the present note we show that the concept of Pareto efficiency …

Persistent link: https://www.econbiz.de/10012962602

Inefficient Lock-In and Subsidy Competition

Borck, Rainald - 2009

This paper shows that subsidy competition may be efficiency enhancing. We model a subsidy game among two asymmetric …

Persistent link: https://www.econbiz.de/10012764278