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Persistent link: https://www.econbiz.de/10011287261
factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile … prices set higher markups. We use the Bartik shift-share approach to empirically test whether firms which use more oil … relative to other inputs set higher markups when oil prices are more volatile. Our estimates imply that a one standard …
Persistent link: https://www.econbiz.de/10012695355
I document a statistical link between old-age dependency ratios and average markups. I propose that a mechanism whereby …
Persistent link: https://www.econbiz.de/10014389040
Persistent link: https://www.econbiz.de/10014537117
Aggregated output in industrialized countries has become less volatile over the past decades. Whether this "Great Moderationʺ can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility using a balanced panel dataset on German firms that...
Persistent link: https://www.econbiz.de/10003729690
This paper investigates the development of skill shortage during the period 2007-2012. Using the IAB establishment panel, we find differences for the years before, during and after the Great Recession. Furthermore, we analyze the importance of firm characteristics and that of some specific...
Persistent link: https://www.econbiz.de/10010379219
This paper provides an example in which a slight behavioral heterogeneity may fundamentally change the qualitative properties of a nonlinear cobweb market with a quadratic cost function and an isoelastic demand function. We consider two types of producers; adaptive and naive. In a market of...
Persistent link: https://www.econbiz.de/10010477502
This report reviews recent as well as planned changes to accounting and solvency regulations affecting insurers and pension funds and how they may impact long-term investing by these institutions. The review of existing evidence focuses mainly on the impact of risk-based solvency requirements,...
Persistent link: https://www.econbiz.de/10009684014
This paper analyses the effect of the education of the self-employed on the success of their firms during economic downturn and upturn in the 1990s in Finland. We find that the business cycle affects the relative closure rates of firms run by the self-employed with any level of education. Exit...
Persistent link: https://www.econbiz.de/10001646587
We quantify the impact of merger activity on productive efficiency. We develop and calibrate a dynamic industry-equilibrium model that features mergers, entry, and exit by heterogeneous firms. Mergers affect productivity directly through realized synergies, and indirectly through firms'...
Persistent link: https://www.econbiz.de/10010442884