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Persistent link: https://www.econbiz.de/10010309770
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We analyze the efficiency defense in merger control. First, we show that the relationship between exogenous efficiency gains and social welfare can be non-monotone. Second, we consider both endogenous mergers and endogenous efficiencies and find that merger proposals are largely aligned with a...
Persistent link: https://www.econbiz.de/10010309799
In Zeiten steigender Informationsüberlastung müssen Werbemedien zielgruppengerecht ge-staltet werden, damit die Werbebotschaft bei den Kunden wie gewünscht ankommt. Das moderne Eye-Tracking-Verfahren bietet Unternehmen die Möglichkeit, mit Hilfe modernster Technik, Werbemittel schon im...
Persistent link: https://www.econbiz.de/10010309801
The purpose of this paper is to identify main components and driving forces behind an innovation process in order to support regions in organising their endogenous innovation process. To that end, we study models of an innovation process and analyse the case of Sophia Antipolis. This theoretical...
Persistent link: https://www.econbiz.de/10010309828
National labour market institutions interact across national boundaries when product markets are global. Labour market policies can thus entail spill-overs, which suggest that there are benefits from international policy coordination. This paper studies the effects of wage subsidies in an...
Persistent link: https://www.econbiz.de/10010309835
, and much lower for the usual preferences (in which only inflation and/or output stabilization matter). It is shown that … capital flows through the effects of its actions on the endogenous risk premium in the (risk-adjusted) interest parity …
Persistent link: https://www.econbiz.de/10010310074
This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in the …
Persistent link: https://www.econbiz.de/10010310081
This paper asks why modern finance theory and the efficient market hypothesis have failed to explain long-term carry …: An Integrated Approach to Credit, Money, Income, Production and Wealth, 2007) and the Theory of the Monetary Circuit to …, a zero interest rate and an upper interest rate. Inflation is everywhere. The possibility of stable carry trades emerges …
Persistent link: https://www.econbiz.de/10010310322
motivation, risk sharing, and the impact of the tax rate on the variance of after-tax cash flows. Similar paradoxical tax effects …
Persistent link: https://www.econbiz.de/10010310621