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Goerke, Laszlo (contributor); Runkel, Marco (contributor) - 2007

Persistent link: https://www.econbiz.de/10003599452

Optimal contest design when the designer s payoff depends on competitive balance

Runkel, Marco - 2003

This paper investigates optimal contest design when the designer s payoff is increasing in competitive balance between contestants. A two-player contest with asymmetric effort costs (asymmetric abilities) is considered. Competitive balance is measured by the difference in winning probabilities...

Persistent link: https://www.econbiz.de/10011509371

Sabotaging potential rivals

Amegashie, J. Atsu (contributor); Runkel, Marco (contributor) - 2005

This paper studies sabotage in a contest with non-identical players. Unlike previous papers, we consider sabotage in an elimination contest and allow contestants to sabotage a potential or future rival. It turns out that for a certain partition of players there is a pure-strategy equilibrium in...

Persistent link: https://www.econbiz.de/10003112626

A new two-pillar strategy for the ECB

De Grauwe, Paul; Gros, Daniel - 2009

The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...

Persistent link: https://www.econbiz.de/10003888991

The choice of apportionment factors under formula apportionment

Runkel, Marco (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003597977

Fiscal rules, financial stability and optimal currency areas

De Grauwe, Paul; Foresti, Pasquale - 2015

In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co-movements in fiscal policy; 2) financial stability; and 3) financial integration. We provide empirical evidence documenting the existence of such a trade-off in the period characterized...

Persistent link: https://www.econbiz.de/10010533078

Monetary policy in EMU when the transmission is asymmetric and uncertain

De Grauwe, Paul; Sénégas, Marc-Alexandre - 2003

In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about...

Persistent link: https://www.econbiz.de/10011506467

Tax competition and fiscal equalization under corporate income taxation

Liesegang, Caterina; Runkel, Marco - 2016

inefficient undertaxation in corporate tax competition. The innovation of the paper is that it focuses on a tax on corporate … income, instead of the unit tax on capital considered in previous studies. We employ a tax competition model with fiscal … inefficiently low tax rates in the Nash equilibrium of the tax competition game between governments. Tax revenue equalization …

Persistent link: https://www.econbiz.de/10011509514

Has the Eurozone become bess fragile? : some empirical tests

De Grauwe, Paul; Ji, Yuemei - 2015

In this paper we provide empirical evidence documenting the nature of the Eurozone's fragility. We find that during periods of turmoil, financial markets have tended to impose strong programs of austerity on member countries of the Eurozone. This confirms the evidence we found in a previous...

Persistent link: https://www.econbiz.de/10010472677

On the implications of introducing cross-border loss-offset in the European Union

Kalamov, Zarko; Runkel, Marco - 2015

This article investigates a tax competition model where countries compete for capital and profits of multinational …

Persistent link: https://www.econbiz.de/10011295801