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ECB - Working paper series
European Central Bank
The ECB Working Paper Series seeks to disseminate economic research on issues that are relevant to the various tasks and functions of the ECB. The Series invites submissions of research work by ECB staff and visitors. Papers by researchers not affiliated with the ECB may also be considered for...
Persistent link: https://www.econbiz.de/10009635880
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Optimal Central Bank Conservatism and Monopoly Trade Unions
Berger, Helge; Hefeker, Carsten; Schoeb, Ronnie - 2000
The “conservative central banker” has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10009447268
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Monetary Policy without Money: Hamlet without the Ghost
Laidler, David - 2003
monetary aggregates continue to have useful leading indicator properties. These facts, among others, suggest that a theory of …
Persistent link: https://www.econbiz.de/10009447279
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Hedger of last resort: evidence from Brazilian FX interventions, local credit, and global financial cycles
Gonzalez, Rodrigo Barbone; Khametshin, Dmitry; Peydró, … - 2020
Este documento demuestra que las políticas de un banco central local pueden atenuar los efectos del ciclo financiero global [Global Financial Cycle (GFC)]. Para su identificación, analizamos la variación del GFC y las intervenciones del Banco Central de Brasil en los mercados derivados de...
Persistent link: https://www.econbiz.de/10012523796
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Who Provides Information Matters: The Role of Source Credibility on US Consumers’ Beef Brand Choices
Dentoni, Domenico; Tonsor, Glynn T.; Calantone, Roger J.; … - 2011
information through these quality signals and consumer choices. In this paper, we explore 1) whether the credibility of an … representative sample of 460 US consumers and analyzed through structural equation modeling. The results show that credibility …
Persistent link: https://www.econbiz.de/10009444571
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How do GM / non GM coexistence regulations affect markets and welfare?
Desquilbet, Marion; Poret, Sylvaine - 2011
endogenous cropchoices and prices, we study the effects of ex ante regulation and ex post liability of GMO producers onmarket …
Persistent link: https://www.econbiz.de/10009442835
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Possible Solutions to the Rhode Island State Government’s Unfunded Pension Liability
Blunt, Derek - 2010
This paper examines the possible causes of the nationwide unfunded public pension liability problem in the U.S., and … evaluate the effects of different recommendations on their ability to decrease the unfunded liability’s outstanding sum. This … fiscal effects the solutions will have on the outstanding liability. Finally I conclude with a set of solid analytical and …
Persistent link: https://www.econbiz.de/10009450209
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Can We All Get Along? Incentive Contracts to Bridge the Marketing and Operations Divide
Jerath, Kinshuk; Netessine, Serguei; Zhang, Z. John - 2007
reduction. In this paper, we invoke agency theory to determine compensation plans for sales and operations managers to … runs contrary to results from classic agency theory.In a multiproduct scenario, when one manager manages several products …
Persistent link: https://www.econbiz.de/10009441005
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Accounting Recognition, Moral Hazard, and Communication
Liang, Pierre Jinghong - 2000
Two complementary sources of information are studied in a multiperiod agency model. One is an accounting source which partially but credibly conveys the agent’s private information through accounting recognition. The other is an unverified communication by the agent (i.e., a self-report). In a...
Persistent link: https://www.econbiz.de/10009441137
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Agency Trade-offs in Family Firms: Theoretical Model, Empirical Testing and Implications
Yupitun, Mark Anson - 2008
Agency theory is one of the principal frameworks utilized in explaining the family business phenomena. The objectives … advantages for family firms in highly competitive environments. This agency trade-off provides a link between agency theory and …
Persistent link: https://www.econbiz.de/10009441576