In this study, we ask: how does the intensity of internal competition for resources affect the communication of private information in an organization? Although competition between different divisions or units for resources is pervasive in many organizations, much of the accounting literature...

Motivated by the EU concept of Pre-Commercial Procurement and the massivepresence of SMEs in the European economy, we study how budget constraints affect R&D effort in sequential elimination tournaments. We show that introducingbudget constraints leads to a non-monotonicity in unconstrained...

Motivated by the EU concept of Pre-Commercial Procurement and the massivepresence of SMEs in the European economy, we study how budget constraints affect R&D effort in sequential elimination tournaments. We show that introducingbudget constraints leads to a non-monotonicity in unconstrained...

This paper offers a brief overview of the research activities of the National Bank of Belgium with respect to so-called structural or cyclically-adjusted fiscal indicators. In making any form of fiscal assessment, it is essential to have an unbiased measure of the real policy stance. It is...

This paper studies redistributional effects of competition between private and public insurance on health insurance markets based on the example of Germany. Health insurance is provided by a budget-balancing public insurance and a revenue-maximizing private insurance; customers are characterized...

The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete in a differentiated loan market, hold reserves against liquidity shocks, and refinance in the interbank market. A merger creates an internal money market that induces financial...