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Governance structure, technical change and industry competition

Guerini, Mattia; Harting, Philipp; Napoletano, Mauro - 2020

We develop a model to study the impact of corporate governance on firm investment decisions and industry competition … investment strategy and we study how different governance structures shape technical progress and the degree of competition over … characterized by heterogeneous governance structures generate the well-documented inverted-U shaped relation between competition and …

Persistent link: https://www.econbiz.de/10012319182

Theories of market selection : a survey

Fontanelli, Luca - 2023

We provide a survey of the main mechanisms of market selection used in economics. We gather them in three theoretical paradigms (rational equilibrium, Simonesque and evolutionary), that we try to reconcile in terms of underlying laws of selection. We show that the three paradigms have been...

Persistent link: https://www.econbiz.de/10014283587

A baseline model of industry evolution

Winter, Sidney G. (contributor); … - 2003 - [Elektronische Ressource]

the underlying competition process combining persistent technological heterogeneity, differential growth of individual …

Persistent link: https://www.econbiz.de/10002133681

Building on institutional failures : the European Treaty on Stability, Coordination and Governance ; or: why the crisis in the Eurozone is so deep and persistent ; invited paper pr...

Coriat, Benjamin - 2014

The paper is devoted to an analysis of the Treaty on Stability Coordination and Governance (TSCG), also known as the "Fiscal Compact" Treaty signed between the EU member states in 2012. We argue than the TSCG, instead of helping to "repair" the institutional failures on which the Euro and the...

Persistent link: https://www.econbiz.de/10010459672

Common currencies and FDI flows

Schiavo, Stefano (contributor) - 2005

The paper investigates the impact of EMU on foreign direct investment flows. Using the option value approach to investment decisions, it is possible to show how exchange rate uncertainty hinders cross-border investment flows. By permanently fixing bilateral exchange rates, a currency union can...

Persistent link: https://www.econbiz.de/10003209194

On the stability of Euro area money demand and its implications for monetary policy

Barigozzi, Matteo; Conti, Antonio M. - 2013

We revisit the usefulness of long-run money demand equations for the European Central Bank. We first conduct a model evaluation exercise by means of a recent time-varying cointegration test. A stable relation for euro area M3 is not rejected by data only when accounting for both a speculative...

Persistent link: https://www.econbiz.de/10009736235

The anatomy of government bond yields synchronization in the Eurozone

Barbieri, Claudio; Guerini, Mattia; Napoletano, Mauro - 2021

We investigate the synchronization of Eurozone's government bond yields at different maturities. For this purpose, we combine principal component analysis with random matrix theory. We find that synchronization depends upon yields maturity. Short-term yields are not synchronized. Medium- and...

Persistent link: https://www.econbiz.de/10012497031

Eurozone: original laws, present problems and challenges for the future

Minenna, Marcello - 2018

The European monetary union was born as a result of a negotiation process among the founding countries profoundly influenced by the economic and political dynamics of the '90s: the experience of the EMS, the German unification process, the desire of France to prevent the reaffirmation of German...

Persistent link: https://www.econbiz.de/10011852346

Making the Eurozone work : a risk-sharing reform of the European Stability Mechanism

Dosi, Giovanni; Minenna, Marcello; Roventini, Andrea; … - 2018

This work presents an original proposal for the reform of the Eurozone architecture according to an approach based on risk sharing (aiming to reach in the long-term the mutualization of public debt). The proposal envisages a new role for the European Stability Mechanism (ESM) which should...

Persistent link: https://www.econbiz.de/10011873820

Fiscal transfers and common debt in a Monetary Union : a multi-country agent based-stock flow consistent model

Caiani, Alessandro; Catullo, Ermanno - 2023

Using a refined version of the multi-country AB-SFC model of a Monetary Union already presented in Caiani et al. (2018a, 2019) the paper aims at providing a tentative assessment of the economic effects of transforming the European Monetary Union into an Intergovernmental Fiscal Transfer Union...

Persistent link: https://www.econbiz.de/10014283578

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