Showing 1 - 10 of 460
The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several countries, the fragile condition of major European banks, the high levels of unemployment, and the large trade deficits that now exist in most Eurozone countries. Although the...
Persistent link: https://www.econbiz.de/10013118129
Can patent protection and product market competition complement each other in enhancing incentives to innovate? In this … product market competition interact with the strength of patent rights. We provide empirical evidence of innovation responding … with step-by-step innovation models predicting that product market competition enhances innovation and, more importantly …
Persistent link: https://www.econbiz.de/10013064451
We examine the impact of Chinese import competition on patenting, IT, R&D and TFP using a panel of up to half a million …-specific quotas following China's entry into the World Trade Organization. Chinese import competition had two effects: first, it led … account for around 15% of European technology upgrading between 2000-2007. Rising Chinese import competition also led to falls …
Persistent link: https://www.econbiz.de/10013038317
role of an active market for corporate control and of competition in banking integration. European listed banks … profitability appears to converge to a common level. There is weak evidence that competition eliminates high profits for these banks …
Persistent link: https://www.econbiz.de/10012757853
We develop a political-economy model of economic union and compare the competion regime to the coordination regime. Key policy differences emerge between the two regimes: concerning the generosity of the welfare state and the skill composition of migration. We argue that the differences between...
Persistent link: https://www.econbiz.de/10013014302
This paper develops and simulates a dynamic model of strategic telecom competition. The goal is to understand how … regulatory policy, particularly relative to lease charges for local network elements, affects telecom competition, investment …
Persistent link: https://www.econbiz.de/10013215384
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …
Persistent link: https://www.econbiz.de/10013223084
, and poor, capital-scarce and low productivity countries. We address two main issues: the efficiency of tax competition and … efficiency of tax competition. We also demonstrate how capital mobility within the union strengthens the competition over …
Persistent link: https://www.econbiz.de/10013077970
competition among large countries (US/EU) to negotiate preferential arrangements with smaller countries or regions will lower …
Persistent link: https://www.econbiz.de/10013324133
This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...
Persistent link: https://www.econbiz.de/10013156427