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This paper discusses the design, implementation and use of standards from the perspective of transaction costs economics. A proper design and implementation of standards may lead to a considerable reduction of transaction costs, which enhances trade and, consequently, economic welfare. A major...
Persistent link: https://www.econbiz.de/10011373830
During the last decades, the growth of trade between China and the Netherlands has been larger than the increase in bilateral trade flows between China and most other countries. Using a time series based gravity model, this paper investigates the main determinants of this increase. The empirical...
Persistent link: https://www.econbiz.de/10011374425
This paper assesses the performance of a number of long-term interest rate forecast approaches, namely time series models, structural economic models, expert forecasts and combinations thereof. The predictive performance of these approaches is compared using out of sample forecast errors, where...
Persistent link: https://www.econbiz.de/10011377250
In the economics profession there is a fierce debate whether industrial and innovation policy should be targeted to specific sectors or firms. This paper discusses the welfare effects of such targeted policies from the perspective of strategic game theory of the firm. A theoretical case for...
Persistent link: https://www.econbiz.de/10011377579
This paper explores the feasibility to extend the Standard Cost Model (SCM) for calculating the costs of government regulation by taking all transaction costs into account which stem from the principal/agent relationship between regulatory authorities and economic entities. From that perspective...
Persistent link: https://www.econbiz.de/10011377583
In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus value of a realized match. From this perspective our study presents an econometric analysis of the influence of labor market flows on wage formation as alternative to the...
Persistent link: https://www.econbiz.de/10011334346
Strikes as a consequence of labour conflicts occur about 28 times as much in France as in the Netherlands. This paper examines the institutional differences underlying these differences in strike activity. Our empirical analysis shows that strike activity is high in France if workers were...
Persistent link: https://www.econbiz.de/10011334347