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strike induces car speed to decrease only marginally on the highway ring road (by 3 percent) but substantially on inner city … roads (by 10 percent). During rush hour, the strike effect is much more pronounced. The congestion relief benefit is …
Persistent link: https://www.econbiz.de/10010477114
examines the institutional differences underlying these differences in strike activity. Our empirical analysis shows that … strike activity is high in France if workers were successful in obtaining relatively high wage increases in collective labour … agreements in the previous year, whereas strike activity is high in the Netherlands if, in the preceding year, real wage …
Persistent link: https://www.econbiz.de/10011334347
utilities corresponding tomilitant union behaviour are independent of the contract length. The wagedynamics are linear if strike …. The one under strike is not credible exceeds the one under strikeis credible. A wage decrease can occur if strike is … credible, but neverwhen strike is not credible. In the limit as time between bargaining roundsvanishes only the first paradox …
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In the economics profession there is a fierce debate whether industrial and innovation policy should be targeted to specific sectors or firms. This paper discusses the welfare effects of such targeted policies from the perspective of strategic game theory of the firm. A theoretical case for...
Persistent link: https://www.econbiz.de/10011377579
We investigate the nature of market failure in a dynamic version of Akerlof (1970) where identical cohorts of a durable good enter the market over time. In the dynamic model, equilibria with qualitatively different properties emerge. Typically, in equilibria of the dynamic model, sellers with...
Persistent link: https://www.econbiz.de/10011303313
We investigate the nature of the adverse selection problem in a market for adurable goodwhere trading and entry of new buyers and sellers takes place in continuoustime. In thecontinuous time model equilibria with properties that are qualitativelydifferent from thestatic equilibria, emerge....
Persistent link: https://www.econbiz.de/10011304379
Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and therefore...
Persistent link: https://www.econbiz.de/10011334832