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Systemic risk and the great depression
Das, Sanjiv R.; Mitchener, Kris; Vossmeyer, Angela - 2018
as well as a bank's position in the network. We construct linkages between all U.S. commercial banks in 1929 and 1934 so … that we can measure how predisposed the entire network was to risk, where risk was concentrated, and how the failure of … more than 9,000 banks during the Great Depression altered risk in the network. We find that the pyramid structure of the …
Persistent link: https://www.econbiz.de/10011952053
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Stranded assets in the transition to a carbon-free economy
Ploeg, Frederick van der; Rezai, Armon - 2019
Assets in the fossil fuel industries are at risk of losing market value due to anticipated breakthroughs in renewable technology and governments stepping up climate policies in the light of the Paris commitments to limit global warming to 1.5 or 2 degrees Celsius. Stranded assets arise due to...
Persistent link: https://www.econbiz.de/10012156424
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A simple model of buyer-seller networks in international trade
Herkenhoff, Philipp; Krautheim, Sebastian; Sauré, Philip - 2021
The recent literature on firm-to-firm trade has documented salient empirical regularities of the buyer-seller network …
Persistent link: https://www.econbiz.de/10012534686
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Profitable horizontal mergers without cost advantages : the role of internal organization, information, and market structure
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2001
Merged firms are typically rather complex organizations. Accordingly, merger has a more profound effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The...
Persistent link: https://www.econbiz.de/10011398061
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Use and abuse of authority : a behavioral foundation of the employment relation
Bartling, Björn; Fehr, Ernst; Schmidt, Klaus M. - 2013
Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...
Persistent link: https://www.econbiz.de/10009690725
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The firm as a pool of factor complementarities
Lindbeck, Assar; Snower, Dennis J. - 2003
Persistent link: https://www.econbiz.de/10009763532
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The division of labor and the market for organizations
Lindbeck, Assar; Snower, Dennis J. - 2000
Persistent link: https://www.econbiz.de/10009763540
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Mergers, investment decisions and internal organisation
Banal-Estañol, Albert; Macho-Stadler, Inés; … - 2003
We analyse the effects of investment decisions and firms internal organisation on the efficiency and stability of horizontal mergers. In our framework economies of scale are endogenous and there might be internal conflict within merged firms. We show that often stable mergers do not lead to more...
Persistent link: https://www.econbiz.de/10011507904
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E-exchange and the boundary between households and organizations
Lindbeck, Assar; Wikström, Solveig - 2002
The new information and communication technology, ICT, induces households to take over tasks from firms and government agencies, using tools and systems provided by these very same organizations. The result is often joint production activities. We argue that the importance of ICT for the...
Persistent link: https://www.econbiz.de/10011514007
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Exchange rate uncertainty and labour market adjustment under fixed and flexible exchange rates
Chen, Yu-Fu; Funke, Michael - 2002
The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we follow the real options approach, which allows us to investigate the...
Persistent link: https://www.econbiz.de/10011541121