We propose the dynamic network effect (DNE) model for the study of high-dimensional multivariate time series data. Cross-sectional dependencies between units are captured via one or multiple observed networks and a low-dimensional vector of latent stochastic network effects. The...

In this paper, decisions regarding production in oil exporting countries are studied by means of theoretical analysis and empirical investigation. Under the assumptions of exogenous oil prices and world oil demand, we are able to describe the relationship between oil production levels and...

We examine a dynamic disclosure model in which the value of a firm follows a random walk. Every period, with some probability, the manager learns the value and decides whether to disclose it. The manager maximizes the market perception of the firm's value, which is based on disclosed...

In this paper, energy sector’s monopoly behavior is analyzed in the case of Azerbaijan by referring to the literature of Dutch disease and rent-seeking. As a theoretical background, a new general equilibrium model is also developed in order to explain unusual surge of gasoline prices in...

Die Krise der Medienindustrie ist im wesentlichen eine Krise des Werbemarktes. Angesichts eines Beitrages der Werbung in Höhe von zwei Dritteln zum Umsatzaufkommen der Massenmedien überrascht dies nicht, wird aber durch das vorliegende Zahlenmaterial noch einmal bestätigt. Dieser Beitrag geht...