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Facebook, Amazon, Netflix and Google, as well as Twitter – the FANG companies – have transformed society with both positive and negative effects. Soaring consumer access to information, news, social networks, and entertainment has been stimulated by the ever-more ubiquitous and falling...
Persistent link: https://www.econbiz.de/10011930714
There can be no doubt that the FANG companies – Facebook, Amazon, Netflix and Google, as well as Twitter – have transformed society since their emergence. Like all social transformations, the changes wrought by their services have had ripple effects that are both positive and negative. On...
Persistent link: https://www.econbiz.de/10011944644
specialization/complexity effect, on the one hand, and the competition effect, on the other hand. How the interaction between these … of competition, remains unaffected by entry, as well as by market-size shocks. As a consequence, the competition effect …: (i) a competition effect, which stems from the market interactions between producers of intermediate inputs, and (ii) a …
Persistent link: https://www.econbiz.de/10011400630
Argentina is the only country in the world that was 'developed' in 1900 and 'developing' in 2000. Although various underlying reasons have been identified (chiefly political instability, financial development, inflation, trade openness, and international financial integration), no study has...
Persistent link: https://www.econbiz.de/10010301463
Previous research shows that technical progress at the industry level, measured by sectoral TFP growth, is more localized in continental European countries than in Anglo-Saxon coun-tries. We use EU KLEMS data sets to decompose sectoral TFP for nine European countries by means of a Malmquist...
Persistent link: https://www.econbiz.de/10010329262
The standard two-sector monetary business cycle model suffers from an important deficiency. Since durable good prices are more flexible than non-durable good prices, optimising households build up the stock of durable goods at low cost after a monetary contraction. Consequently, sectoral outputs...
Persistent link: https://www.econbiz.de/10010310117
Das Papier entwickelt neue Methoden zur Messung der Misallokation von Produktionsfaktoren zwischen verschiedenen Produktionseinheiten. Diese Methoden beruhen nur auf sehr allgemeinen Annahmen. Eine empirische Anwendung dieser Methoden liefert Evidenz für eine beträchtliche Misallokation von...
Persistent link: https://www.econbiz.de/10011712618
production process. The analysis is conducted for public sectors in which governmental institutions are directly responsible both … for efficiently producing public goods and for investing in new production factors. The results reveal that intangible … capital is a relevant input factor in the production of public goods and only weakly substitutable with other inputs. …
Persistent link: https://www.econbiz.de/10011712779
We study the eligibility of corporate bonds as collateral for central bank operations and its effect on interbank and corporate bond markets. While money market functionality increases in the amount of eligible assets, a thorough assessment of collateral policies must also account for endogenous...
Persistent link: https://www.econbiz.de/10012623159
Persistent link: https://www.econbiz.de/10013359317