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Subsidy Competition and the Role of Firm Ownership

Mittermaier, Ferdinand - 2007

This paper addresses the role that foreign vs. domestic ownership of companies plays for governments in asymmetric countries' competition for a multinational's subsidiary. I argue that equilibrium subsidies as well as a foreign investor's location decision in policy competition between these...

Persistent link: https://www.econbiz.de/10010427490

Liquidity Risk and Monetary Policy

Sauer, Stephan - 2007

This paper provides a framework to analyse emergency liquidity assistance of central banks on financial markets in response to aggregate and idiosyncratic liquidity shocks. The model combines the microeconomic view of liquidity as the ability to sell assets quickly and at low costs and the...

Persistent link: https://www.econbiz.de/10010427492

The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment

Schunk, Daniel; Winter, Joachim - 2007

Experimental studies of search behavior suggest that individuals stop searching earlier than predicted by the optimal, risk-neutral stopping rule. Such behavior could be generated by two different classes of decision rules: rules that are optimal conditional on utility functions departing from...

Persistent link: https://www.econbiz.de/10010427494

The Effect of Bank Competition on the Bank's Incentive to Collateralize

Hainz, Christa - 2007

It has been argued that competing banks make inefficiently frequent use of collateralization in situations where they are better able to evaluate a project's risk than entrepreneurs. We study the bank's choice between screening and collateralization in a model where banks do not have this...

Persistent link: https://www.econbiz.de/10010427497

Measuring real value and inflation

Hillinger, Claude - 2007

derive these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem …. For example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied … to a large aggregate of diverse consumers with non-homothetic preferences. In this paper I develop a unitary theory that …

Persistent link: https://www.econbiz.de/10010427498

Measurement in Economics and Social Science

Hillinger, Claude - 2007

separation of theory from the quantitative measures that are computed in practice: price and quantity indexes, consumer surplus … embedded in a satisfactory economic theory, free from unreasonable restrictions. It is the Törnqvist index as an approximation …

Persistent link: https://www.econbiz.de/10010427500

Accelerated Technological Progress - An Explanation for Wage Dispersion and a Possible Solution to the Productivity Paradox

Nikutowski, Oliver - 2007

occured simultaneously, is the reduction of the total factor productivity during the emergence of the computerage - the so … called productivity paradox. This contribution offers a simple unified solution to both of these puzzles and explains the … share of individuals who choose a less productive qualification may lead to a transitory slowdown of the productivity growth …

Persistent link: https://www.econbiz.de/10010427502

Central Bank's Action and Communication

Baeriswyl, Romain - 2007

This paper contributes to the ongoing debate about the welfare effect of public information. In an environment characterized by imperfect common knowledge and strategic complementarities, Morris and Shin (2002)argue that noisy public information may be detrimental to welfare because public...

Persistent link: https://www.econbiz.de/10010427503

An Empirical Test of the Reder Hypothesis

Ludsteck, Johannes; Haupt, Harald - 2007

A firm that faces insufficient supply of labor can either increase the wage offer to attract more applicants, or reduce the hiring standard to enlarge the pool of potential employees, or do both. This simultaneous adjustment of wages and hiring standards in response to changes in market...

Persistent link: https://www.econbiz.de/10010427507

Creditor Passivity: The Effects of Bank Competition and Institutions on the Strategic Use of Bankruptcy Filings

Hainz, Christa - 2007

Why do banks remain passive? In a model of bank-firm relationship we study the trade-off a bank faces when having defaulting firms declared bankrupt. First, the bank receives a payoff if a firm is liquidated. Second, it provides information about a firm’s type to its competitors. Thereby,...

Persistent link: https://www.econbiz.de/10010427508