Showing 1 - 10 of 214
This paper provides a comprehensive analysis of the role that financial constraints play in shaping firms' export activities. We use custom information on cross borders transactions for Italian firms, together with an informative measure of financing constraints based on an official credit...
Persistent link: https://www.econbiz.de/10010328473
The authors examine a mixed duopoly market with Cournot or Bertrand competition between a purely private port (port 1) and a partial public port (port 2). Considering both horizontal and vertical differentiation between the two ports, they analytically derive the welfare effect of privatization...
Persistent link: https://www.econbiz.de/10011944320
Standard measures of consumer price inflation are based on a bundle of representative goods. It is well known that this approach might overstate inflation for new products and products with fast increasing quality. For this reason, hedonic adjustment methods have been proposed and introduced in...
Persistent link: https://www.econbiz.de/10010297266
We thank three anonymous referees for thoughtful comments and suggestions which we found very constructive and helpful. We are particularly grateful to the editor, Al Klevorick, for his advice and painstaking guidance through the multiple revision process. We thank Robert Barsky, Susanto Basu,...
Persistent link: https://www.econbiz.de/10010336017
This paper examines the dynamic process of quality adjustment in cases where the economy lacks a sufficient number of markets for coordinating the level of attributes that configure the qualities of products. It shows that an adjustment process through the development and selection of...
Persistent link: https://www.econbiz.de/10011552001
The expenditure-to-income ratio is a widely used measure of housing affordability as it is easy to calculate and to interpret. Yet it suffers from several flaws that may diminish its usefulness. This paper addresses the main points of critique and improves the accuracy of the ratio measure by...
Persistent link: https://www.econbiz.de/10011630399
We offer the first direct evidence of an implicit contract in a goods market. The evidence comes from the market for Coca-Cola. Since implicit contracts are unobservable, we adopt a narrative approach to demonstrate that the Coca-Cola Company left a written evidence of the implicit contract with...
Persistent link: https://www.econbiz.de/10012140624
In Germany, package holidays are an important driver of consumer prices. Several challenges arise when measuring the price development of these bundled travel and accommodation services, such as the quality of accommodation and the timing of booking. Statistical practices are currently based on...
Persistent link: https://www.econbiz.de/10012209554
How much does quality adjustment matter in measuring consumer price inflation? To address this question, we use different sources of micro and macro price data for Germany and the euro area. For Germany, we find that quality adjustment applies to a large range of goods and services but, on...
Persistent link: https://www.econbiz.de/10013465056
We document how product quality responds to exchange rate movements and quantify the extent to which these quality changes affect the aggregate pass-through into export prices. We analyze the substantial sudden appreciation of the Swiss franc post removal of the 1.20-CHF-per-euro lower bound in...
Persistent link: https://www.econbiz.de/10014290027