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Game of Organizing International Cricket: Co-Existence of Country-Line and Club-Line Games
Das, Satya Prasanna - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-32, pp. 1-29
The paper presents an economic model of interaction between cricket boards, players and international club-line games sponsors like ICL or IPL. It attempts to capture the inherent conflict between such games and country-line games traditionally organized by cricket boards. It identifies the...
Persistent link: https://www.econbiz.de/10010298616
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West-East Convergence in the Prevalence of Cannabis Use: Socioeconomics or Culture?
Tauchmann, Harald - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-29, pp. 1-27
In contrast to West Germany, illicit drugs were virtually absent in East Germany until 1990. However, after the collapse of the former GDR, East Germany was expected to encounter a sharp increase in substance abuse. By analyzing individual data, we find that East Germany largely caught up with...
Persistent link: https://www.econbiz.de/10010298613
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Passive unilateral cross-ownership and strategic trade policy
Fanti, Luciano; Buccella, Domenico - In: Economics: The Open-Access, Open-Assessment E-Journal 10 (2016) 2016-10, pp. 1-22
In a Cournot duopoly model in which exporters compete in a third market, this paper revisits the classical issue (dating back to the pioneering work of Brander and Spencer, Export Share and International Market Share Rivalry, 1985) of the strategic trade policy choice in the presence of the...
Persistent link: https://www.econbiz.de/10011461743
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Taking a DSGE Model to the Data Meaningfully
Franchi, Massimo; Jusélius, Katarina - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-4, pp. 1-38
all basic assumptions underlying the theory model should be formulated as a set of testable hypotheses on the long …-run structure of a CVAR model, a so called 'theory consistent hypothetical scenario'. The advantage of such a scenario is that it … forces us to formulate all testable implications of the basic hypotheses underlying a theory model. We demonstrate that most …
Persistent link: https://www.econbiz.de/10010295287
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Evaluating Inflation Targeting Using a Macroeconometric Model
Fair, Ray C. - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-8, pp. 1-52
This paper uses a structurally estimated macroeconometric model, denoted the MC model, to evaluate inflation targeting in the United States. Various interest rate rules are tried with differing weights on inflation and output, and various optimal control problems are solved using differing...
Persistent link: https://www.econbiz.de/10010295291
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Seigniorage
Buiter, Willem H. - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-10, pp. 1-49
Governments through the ages have appropriated real resources through the monopoly of the "coinage". In modern fiat money economies, the monopoly of the issue of legal tender is generally assigned to an agency of the state, the Central Bank, which may have varying degrees of operational and...
Persistent link: https://www.econbiz.de/10010295293
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Technology Shocks and Employment in Open Economies
Tervala, Juha - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-15, pp. 1-27
A growing body of empirical evidence suggests that a positive technology shock leads to a temporary decline in employment. A two-country model is used to demonstrate that the open economy dimension can enhance the ability of sticky price models to account for the evidence. The reasoning is as...
Persistent link: https://www.econbiz.de/10010295298
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Modeling the Effects of Financial Constraints on Firm's Investment
Tomat, Gian Maria - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-9, pp. 1-26
The paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q, however the investment function is characterized...
Persistent link: https://www.econbiz.de/10010295307
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A Model of the IMF as a Coinsurance Arrangement
Shim, Ilhyock; Sharma, Sunil; Chami, Ralph - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-14, pp. 1-41
The paper shows that an IMF-like coinsurance arrangement among countries can play a useful role in the global financial system. The operation of the coinsurance arrangement is examined under different loan contracts. It shows that, if the IMF?s objective is to safeguard its resources and be...
Persistent link: https://www.econbiz.de/10010295311
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Measuring Real Value and Inflation
Hillinger, Claude - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-20, pp. 1-26
these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem a … example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied to a …
Persistent link: https://www.econbiz.de/10010295317