This paper analyses the quality provision of interrelated market firms under different market structures both theoretically and empirically.A theoretical model is built,where a media firm offers newspapers in a primary market and advertising space in the secondary market.Furthermore,the media...

This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the...

Media and especially mass media like newspapers or magazines are characterised by a number of peculiarities which are interesting from both a theoretical and empirical point of view.The interrelationship of reader and advertising markets,high sunk costs and large economies of scale are typical...

We study the impact of foreign direct investment using a macroeconomic two-sector model of the small open economy with exible exchange rates and perfect capital mobility. The focus is on horizontal greenfield investment and its effects on production, exchange rates, exports, imports, and...

Recent experience shows that under certain conditions it can be assumed that de-mand for luxury goods is partly abnormal. To tackle the problem whether they can and should be taxed we (a) show that a positive slope of demand is possible by distinguishing snob and network benefits, (b)...

This paper analyzes a sequential game where firms decide about outsourcing the production of a non-specific input good to an imperfectly competitive input market. We apply the taxonomy of business strategies introduced by Fudenberg and Tirole (1984) to characterize the different equilibria. We...

Strengthening elements of direct democracy has become a hotly debated issue especially in purely representative democracies where distrust in political institutions and policymakers has been continually growing in recent years. We develop a compensation model of interest groups seeking a...

This paper examines the consequences of introducing mobile number portability (MNP). As MNP allows consumers to keep their telephone number when switching providers, it reduces consumers' switching costs. However, MNP may also cause consumer ignorance if telephone numbers no longer identify...

Die Neue Keynesianische Makroökonomik bietet ein alternatives Paradigma zum herkömmlichen IS-LM-Modell. Ihre Grundzüge werden anhand einer sehr einfachen Version vorgestellt. Die dynamischen Implikationen der Methodik rationaler Erwartungen werden erläutert. Es zeigen sich Grenzen für die...

This paper considers estimation of the regression function and its derivatives in nonparametric regression with fractional time series errors. We focus on investigating the properties of a kernel dependent function V (delta) in the asymptotic variance and finding closed form formula of it, where...