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Demand or supply? : price adjustment during the Covid-19 pandemic
Balleer, Almut; Link, Sebastian; Menkhoff, Manuel; … - 2020 - This version: August 2020
We study planned price changes in German firm-level survey data to infer the relative importance of supply and demand … during the Covid-19 pandemic. Supply and demand forces coexist, but demand deficiencies dominate in the short run. Quarter …
Persistent link: https://www.econbiz.de/10012238496
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The geography of linguistic diversity and the provision of public goods
Desmet, Klaus; Gomes, Joseph Flavian; Ortuño-Ortín, … - 2016
This paper theoretically analyzes and empirically investigates the importance of local interaction between individuals of different linguistic groups for the provision of public goods at the national level. Depending on whether local interaction mitigates or reinforces antagonism towards other...
Persistent link: https://www.econbiz.de/10011573218
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Structural interpretation of vector autoregressions with incomplete information : revisiting the role of oil supply and demand shocks : comment
Kilian, Lutz; Zhou, Xiaoqing - 2018
mainly the imposition of a highly unrealistic prior for the global impact price elasticity of oil supply. Once identification … uncertainty about the global price elasticity of oil supply is accounted for by specifying a prior more in line with extraneous …
Persistent link: https://www.econbiz.de/10011882307
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Structural interpretation of vector autoregressions with incomplete identification : revisiting the role of oil supply and demand shocks
Baumeister, Christiane; Hamilton, James D. - 2017 - Revised December 21, 2017
uncertainty about the identifying assumptions themselves. We use this approach to revisit the importance of shocks to oil supply … and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … a smaller factor than implied by earlier estimates. Supply shocks lead to a reduction in global economic activity after …
Persistent link: https://www.econbiz.de/10011782040
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Strategic supply function competition with private information
Vives, Xavier (contributor) - 2008
A Bayesian supply function equilibrium is characterized in a market where firms have private information about their … uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition …, competitiveness is affected by the parameters of the information structure: supply functions are steeper with more noise in the …
Persistent link: https://www.econbiz.de/10003763172
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Democratic provision of divisible public goods
Gersbach, Hans - 2010
In this paper we examine the potential of democratic constitutions for the provision of divisible public goods in a large economy. Our main insights are as follows: When aggregate shocks are absent, the combination of the following rules yields first-best allocations: a supermajority rule, equal...
Persistent link: https://www.econbiz.de/10003937264
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Biofuels subsidies and the green paradox
Grafton, R. Quentin; Kompas, Tom; Long, Ngo Van - 2010
subsidies for biofuel production such that the supply-side responses by fossil fuel producers may more than offset the …
Persistent link: https://www.econbiz.de/10003938736
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Matching as a cure for underprovision of voluntary public good supply : analysis and an example
Buchholz, Wolfgang; Cornes, Richard; Rübbelke, Dirk T. G. - 2011
Matching mechanisms are regarded as an important instrument to bring about Pareto optimal allocations in a public good economy and to cure the underprovision problem associated with private provision of public goods. The desired Pareto optimal interior matching equilibrium, however, emerges only...
Persistent link: https://www.econbiz.de/10009011305
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Multinational capital structure and tax competition
Wrede, Matthias - 2010
This paper analyzes tax competition when welfare maximizing jurisdictions levy source-based corporate taxes and multinational enterprises choose tax-efficient capital-to-debt ratios. Under separate accounting, multinationals shift debt from low-tax to high-tax countries. The Nash equilibrium of...
Persistent link: https://www.econbiz.de/10003966551
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Tax-Competition with Involuntary Unemployment
Eichner, Thomas; Bayındır-Upmann, Thorsten - 2010
In the present paper we extend the classical tax-competition framework of Zodrow and Mieszkowski (1986) by modelling involuntary unemployment and by allowing for labour taxation as a second source of public funds. For a large class of production functions (including CES), it turns out that tax...
Persistent link: https://www.econbiz.de/10003967767