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Contractual and organizational structure with reciprocal agents
Englmaier, Florian; Leider, Stephen - 2008
Empirically, compensation systems generate substantial effort despite weak monetary incentives. We consider reciprocal motivations as a source of incentives. We solve for the optimal contract in the basic principal-agent problem and show that reciprocal motivations and explicit performance-based...
Persistent link: https://www.econbiz.de/10010264451
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Do energy prices induce progress in energy-related technology? An empirical study
Schmitz, Simon - 2001
Research efforts towards new energy sources and towards the efficiency of energy use will be vital to reducing CO2 abatement costs in the long term. Can such efforts be induced by price instruments? Economists often cite induced technological change as a possible consequence of environmental...
Persistent link: https://www.econbiz.de/10010295565
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Dependencies between European stock markets when price changes are unusually large
Schich, Sebastian T. - 2002
data on stock market indices for Germany, the United Kingdom, France, the Netherlands and Italy from 1973 to 2001 … grosser Kursschwankungen anhand von täglichen Daten der Aktienmarktindices für Deutschland, Großbitannien, Frankreich, die … pair considered. For example, stock markets in the Netherlands and France are more closely and those in the United Kingdom …
Persistent link: https://www.econbiz.de/10010295729
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European inflation expectations dynamics
Slacalek, Jirka; Fritsche, Ulrich; Dovern, Jonas; … - 2005
four major European economies (France, Germany, Italy and the United Kingdom). As opposed to the benchmark rational …
Persistent link: https://www.econbiz.de/10010295782
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The impact of monetary instruments on shock absorption in EU-Countries
Müller, Claudia; Buscher, Herbert S. - 1999
The main characteristic of the implementation of the European Monetary Union (EMU) is the transition from various national currencies to the Euro, the common European currency. A final fixing of the individual bilateral exchange rates of all European countries involved in the Monetary Union...
Persistent link: https://www.econbiz.de/10010297617
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International spillovers and feedback: Modelling in a disequilibrium framework
Winker, Peter; Beck, Martin - 2000
first few quarters. This combination resulted in a major increase of imports from the main trading partners of West Germany … in other countries leading to a feedback on Germany. The paper provides a short overview over the basic model. The … modelling approach and estimation results for the trade submodels are presented in some detail and simmulation results for the …
Persistent link: https://www.econbiz.de/10010297698
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International evidence on sticky consumption growth
Carroll, Christopher D.; Slacalek, Jirka; Sommer, Martin - 2008
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10010298392
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Firm Characteristics, Economic Conditions and Capital Structure Adjustment
Drobetz, Wolfgang; Pensa, Pascal; Wanzenried, Gabrielle - 2007
structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002 …
Persistent link: https://www.econbiz.de/10011390623
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International evidence on sticky consumption growth.
Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - 2008
We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of auto-correlation, with a stickiness...
Persistent link: https://www.econbiz.de/10011604932
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Sticky information Phillips curves: European evidence
Döpke, Jörg; Dovern, Jonas; Fritsche, Ulrich; … - 2008
professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and … the United Kingdom are updated about once a year, in Italy about once each six months. …
Persistent link: https://www.econbiz.de/10011604976