Showing 91 - 100 of 239
The aim of this paper is the definition and measurement of the concept of poverty of families in nine regions of Italy. Poverty tends to be a multi-dimensional concept and the use of monetary income as a single measure of well-being can be misleading. The concept of equality of living standards...
Persistent link: https://www.econbiz.de/10008502573
The interplay between liquidity and credit risks in the interbank market is analyzed. Banks are hit by idiosyncratic random liquidity shocks. The market may also be hit by a bad news at a future date, implying the insolvency of some participants and creating a lemon problem; this may end up with...
Persistent link: https://www.econbiz.de/10008543360
Improving a company's bargaining position is often cited as a chief motivation to vertically integrate with suppliers. This paper expands on that view in building a new theory of vertical integration. In my model firms integrate to gain bargaining power against other suppliers in the production...
Persistent link: https://www.econbiz.de/10008491696
During the first half of the XX century, both in Europe and North America, a profound dissatisfaction with the numerous different social insurance, unemployment, health and old age insurance systems began to make itself felt. The essay deals with the attitudes of the Western world, and in...
Persistent link: https://www.econbiz.de/10008493466
Private insurance markets provide insufficient coverage for risks coming from natural disasters. We argue that in such markets the typical market failure is mainly due to reasons other than asymmetric information. More specifically, the low probability of a disaster, together with the height of...
Persistent link: https://www.econbiz.de/10008479236
The unidirectional Hotelling model where consumers can buy only from firms located on their right (left) is extended to allow for elastic demand functions. A Bertrand-type model and a Cournot-type model are considered. If firms choose location and then set prices, agglomeration never arises;...
Persistent link: https://www.econbiz.de/10008527522
We compare single ballot vs dual ballot elections under plurality rule, assuming sincere voting and allowing for partly endogenous party formation. Under the dual ballot, the number of parties is larger but the influence of extremists voters on equilibrium policy is smaller, because their...
Persistent link: https://www.econbiz.de/10004999565
We present a dynamic duopoly model of technical innovation where R&D costs decrease exogenously with time, and inter-firm knowledge spillover lowers the second comer's R&D cost. The spillover effect only becomes available after a disclosure lag. These features allow us to identify a new type of...
Persistent link: https://www.econbiz.de/10005061463
This paper discusses the link between R&D and productivity across the European industrial and service sectors. The empirical analysis is based on both the European sectoral OECD data and on a unique micro longitudinal database consisting of 532 top European R&D investors. The main conclusions...
Persistent link: https://www.econbiz.de/10005092591
In recent years private customers have shown a growing interest in investing in non-financial assets such as physical gold, real estate properties, artworks, diamonds and wine. Consequently, two new analysis perspectives became available for scholars' to examine - one within the sphere of...
Persistent link: https://www.econbiz.de/10005035898