Der Beitrag untersucht die optimale Versteigerungsreihenfolge in sequentiellen Zweitpreisauktionen mit vertikal differenzierten Objekten.

Der Migrationsstrom eines Landes in ein anderes Land hängt positiv von den bereits vor Ort befindlichen Migranten gleicher Nationalität (bzw. gleicher Herkunft) ab. Dieser Effekt wird in der Literatur häufig als Netzwerkeffekt bezeichnet. Wir zeigen in diesem Beitrag anhand der Migration nach...

Forced-Distribution-Systems (FDS) have many indisputable benefits (such as identification of high potential and low performers or incentive effects to exert higher efforts). However, many companies take a critical stance toward FDS, one of the main reasons being the agents' incentive to execute...

Under a deadweight loss of tax and transfer, there is tension between the optimal policy choices of a Rawlsian social planner and a utilitarian social planner. However, when with a weight greater than a certain critical value the individuals' utility functions incorporate distaste for low...

In New Trade Theory models, the larger region hosts an overproportionate share of producers. This Home Market Effect (HME) exacerbates regional income discrepancies caused by trade frictions or technology differences. With homogeneous firms, it requires inter-industry reallocations to emerge. We...

We demonstrate that a rank-preserving transfer from a richer individual to a poorer individual can exacerbate income inequality (when inequality is measured by the Gini coefficient). This happens when individuals' preferences depend negatively not only on work time (effort) but also on low...

This paper provides evidence that transnational networks, defined as networks operating across nationalities, are shaping observed patterns of international migration. In a stylized model of migration with random friendship formation, individuals from a given origin country are attracted to...

Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent with a common nominal anchor. Based on a reformulation of the gravity model that allows for such bilateral misalignment, we disentangle the conventional microeconomic trade...

Arkolakis, Costinot and Rodriguez-Clare (ACR, 2012) prove that, conditional on the change in openness, the welfare gains from foreign trade reforms are quantitatively identical across single-sector trade models with radically different micro-foundations. We generalize this result to domestic and...

This paper first describes the ingredients the present crisis in the euro zone and then evaluates the key options that policy makers face in resolving the crisis and avoiding similar crises in the future. I argue that the crisis should not be seen as caused by government profligacy alone. In...