The Diamond-Mortensen-Pissarides search and matching model is the workhorse of labor macro, but it has difficulty in simultaneously matching the cyclical behavior of job loss and vacancies when taken to the data. By completely ignoring frictions in job creation and focusing instead on firm-level...

This paper describes the Chinese economic and institutional reform process as a gradual transition of an informal, relation-based governance system into a more formal and rule-based governance system. The consequences of macro-level institutional reforms on the importance of personal...

Der Kurs der Finanzpolitik in Deutschland hat sich im Verlauf des Jahres 1999 geändert. Ausgabenkürzungen wurden durchgesetzt, deutliche Steuersenkungen sind geplant. Die Finanzpolitik fördert das Wachstum der Wirtschaft. Allerdings sind die Steuersenkungen bei weitem nicht so groß wie oft...

This paper surveys empirical and theoretical studies of various control mechanisms embedded in venture capital contracts. These mechanisms mitigate incentive problems and opportunistic behavior arising in the uncertain environment of financing young hightechnology enterprises that predominantly...

Formulating a model which summarises transportation costs, uncertainty and price, we describe how a switch to ICT procurement can impact more readily procured services rather than materials. Uncertainty represents a catch-all factor describing the dovetailing of operations between two neither...

Formulating a model comprising transportation, uncertainty and price, we describe how Web procurement is likely to boost volumes of international services vs. materials inputs. Using panel data for over 2,000 firms, we find that Web procurement increases international services outsourcing by...

Commerce is a fundamental mechanism supporting economic activity. Technological improvements that facilitate commerce can reduce transaction costs, provide more information to participants, boost access to a wider array of products, lead to efficiency gains, as well as result in welfare...

The OECD Committee for Information, Computer and Communications Policy (ICCP) has reviewed progress made in the implementation of the 2008 Seoul Declaration for the Future of the Internet Economy as part of its 2011-12 programme of work. The review points policy makers to new issue areas that...

The Internet began as a communication tool but has transformed into a universal technology supporting virtually all sectors across the economy, much in the same way as electricity and water networks. Given the importance of the Internet, there is a high level of interest in being able to measure...

This paper provides a synthesis of the review of the recommendations set out in the Seoul Declaration of 2008, and their implementation at the national and international levels. It focuses on seven main themes: access to the Internet via a high-speed infrastructure; review of the areas of digital...