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Stremitzer, Alexander - 2007

If a seller delivers a good non-conforming to the contract, Article 2 of the UCC as well as European warranty law allows consumers to choose between some money transfer and termination. Termination rights are, however, widely criticized, mainly for fear that the buyer resorts to "opportunistic...

Persistent link: https://www.econbiz.de/10010263188

Horizontal and Vertical Tax Externalities in a Multicountry World

Crivelli, Ernesto; Volpe Martincus, Christian - 2007

Recent contributions on tax competition recognize the interaction between both horizontal and vertical tax externalities in a single federation. In this paper, we extend the theoretical analysis to a framework with multiple federations (a Union). We show that the relative size of a federation in...

Persistent link: https://www.econbiz.de/10010263189

Experimental Investigation of a Cyclic Duopoly Game

Goerg, Sebastian J.; Selten, Reinhard - 2007

The notion of a cyclic game has been introduced by Selten and Wooders (2001). They illustrate the concept by the analysis of a cyclic duopoly game. The experiments reported concern this game. The game was played by eleven matching groups of six players each. The observed choice fre- quencies...

Persistent link: https://www.econbiz.de/10010263190

Von der Theorie angreifbarer Märkte zur Theorie monopolistischer Bottlenecks

Knieps, Günter - 2004

Der Aufsatz ist wie folgt aufgebaut. In Abschnitt 2 wird zunächst die Theorie der angreifbaren Märkte kurz skizziert …. Es folgt in Abschnitt 3 eine kurze Darstellung der Theorie der monopolistischen Bottlenecks und deren Zusammenhang mit … Konzepten aufgezeigt, insbesondere die Rolle der Theorie angreifbarer Märkte als Wegbereiterin für die Theorie monopolistischer …

Persistent link: https://www.econbiz.de/10010263192

Implementation and Orderings of Public Information

Campbell, Colin M. - 2003

We explore the relationship between public information and implementable outcomes in an environment characterized by random endowments and private information. We show that if public signals carry no information about private types, then an exact relationship holds: a more informative public...

Persistent link: https://www.econbiz.de/10010263205

Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing,and Macroeconomic Instability

Benhabib, Jess; Schmitt-Grohé, Stephanie; Uribe, Martín - 2003

The existing literature on the stabilizing properties of interest-rate feedback rules has stressed the perils of linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due to self-fulfilling expectations. In response to this...

Persistent link: https://www.econbiz.de/10010263206

Accumulation and Productivity Growth in Industrializing Economies

Robertson, Peter E.; Landon-Lane, John S. - 2003

Historically, episodes of rapid growth are accompanied by significant structural change. In this paper we therefore aim to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing economies. To fix ideas we present an extension of...

Persistent link: https://www.econbiz.de/10010263207

Bootstrap Conditional Distribution Tests In the Presence of Dynamic Misspecification

Corradi, Valentina; Swanson, Norman R. - 2003

In this paper, we show the first order validity of the block bootstrap in the context of Kolmogorov type conditional distribution tests when there is dynamic misspecification and parameter estimation error. Our approach differs from the literature to date because we construct a bootstrap...

Persistent link: https://www.econbiz.de/10010263212

Asymptotic Normality of Single-Equation Estimators for the Case with a Large Number of Weak Instruments

Swanson, Norman R.; Chao, John C. - 2003

This paper analyzes conditions under which various single-equation estimators are asymptotically normal in a simultaneous equations framework with many weak instruments. In particular, our paper adds to the many instruments asymptotic normality literature, including papers by Morimune (1983),...

Persistent link: https://www.econbiz.de/10010263213

The Block Bootstrap for Parameter Estimation Error In Recursive Estimation Schemes, With Applications to Predictive Evaluation

Swanson, Norman R.; Corradi, Valentina - 2003

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Persistent link: https://www.econbiz.de/10010263214