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Macroeconomic policy, product market competition, and growth : the intangible investment channel

Ahn, JaeBin; Duval, Romain; Sever, Can - 2020

policy through the intangible investment channel, and its complementarity with pro-competition product market deregulation … vulnerable to financial frictions. By sheltering intangible investment from financial shocks, counter-cyclical macroeconomic … policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self …

Persistent link: https://www.econbiz.de/10012170156

Entry costs and the macroeconomy

Gutiérrez Gallardo, Germán; Jones, Callum; Philippon, … - 2019

We combine a structural model with cross-sectional micro data to identify the causes and consequences of rising concentration in the US economy. Using asset prices and industry data, we estimate realized and anticipated shocks that drive entry and concentration. We validate our approach by...

Persistent link: https://www.econbiz.de/10012154591

Trade linkages, balance sheets, and spillovers : the Germany-Central European Supply Chain

Elekdaǧ, Selim Ali; Muir, Dirk - 2013

Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic integration which has lead to the development of a dynamic supply chain within Europe—the Germany-Central European Supply Chain (GCESC). Model-based simulations suggest two key...

Persistent link: https://www.econbiz.de/10012667496

Innovate to lead or innovate to prevail : when do monopolistic rents induce growth?

Piazza, Roberto; Zheng, Yu - 2019

This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to increase in their technological distance from the leader. This assumption is motivated by the observation the more technologically ad- vanced the leader is, the harder it is for a...

Persistent link: https://www.econbiz.de/10012155163

Leadership Contestability, Monopolistic Rents and Growth

Piazza, Roberto - 2011

I construct an endogenous growth model where R&D is carried out at the industry level in a game of innovation between leaders and followers. Innovation costs for followers are assumed to increase with the technological lag from leaders. We obtain three results that contrast with standard...

Persistent link: https://www.econbiz.de/10014400811

Pricing Debit Card Payment Services : An IO Approach

Tieman, Alexander F. - 2003

This paper presents a theoretical framework for analyzing pricing structures in debit card schemes featuring cardholders, retailers, their respective banks, and a network routing switch. The network routing switch controls the electronic debit card network and is jointly owned by the banks. In...

Persistent link: https://www.econbiz.de/10014403871

To ""B"" or Not to ""B"" : A Welfare Analysis of Breaking Up Monopolies in an Endogenous Growth Model

Xie, Danyang - 2000

reduces activities in the R&D sector. On the other hand, the enhanced competition for the equipment improves efficiency in the …

Persistent link: https://www.econbiz.de/10014399731

Demographics, pension systems and the saving-investment balance

Chai, Hua; Kim, Jun-il - 2018

This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...

Persistent link: https://www.econbiz.de/10011978553

Trade uncertainty and investment in the euro area

Ebeke, Christian; Siminitz, Jesse - 2018

We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes … that countries that are relatively more dependent on global trade networks exhibit a higher sensitivity of investment with … respect to trade uncertainty. We find that the investment-to-GDP ratio is on average 0.8 percentage points lower for five …

Persistent link: https://www.econbiz.de/10011978678

Fair and inclusive markets : why dynamism matters

Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021

a high level of competition. What a country produces and how much it competes domestically and internationally are …

Persistent link: https://www.econbiz.de/10012517949

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