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The transmission of correlated economic disturbances is analyzed in a three-country world, where two countries have no macroeconomic impact on a third country but are large enough to influence each other under a system of mixed exchange rates-a system that combines both fixed and flexible...
Persistent link: https://www.econbiz.de/10010398196
A widely used method in the analysis of complex econometric models is to replace the "true model" by an aggregative one in which the variables are grouped and replaced by sums or weighted averages of the variables in each group. The analysis of the problem of choosing an aggregative model...
Persistent link: https://www.econbiz.de/10010398200
This paper uses a political principal-agent model to analyze the process by which international environmental treaties are negotiated and ratified. To the extent that political principals hire negotiators on the basis of their negotiation skills rather than their policy preferences, negotiators...
Persistent link: https://www.econbiz.de/10010398204
Efficient routines for multidimensional numerical integration are provided by quasi-Monte Carlo methods. These methods are based on evaluating the integrand at a set of representative points of the integration area. A set may be called representative if it shows a low discrepancy. However, in...
Persistent link: https://www.econbiz.de/10010398207
Persistent link: https://www.econbiz.de/10010398210
Protectionist industry interests stem from nondiversified individual income which derives from industry-specific factor ownership. This paper investigates how access to domestic and international asset markets moderates industry-affiliated individuals' preferences for protectionist trade...
Persistent link: https://www.econbiz.de/10010398212
The optimum behavior of a competitive risk-averse international trader who supplies or demands commodities invoiced in foreign currency is examined when his profits are subject to several forms of risk: production, domestic cost, the exchange rate and the commodity price. The focus of our study...
Persistent link: https://www.econbiz.de/10010398225
Zentrales Erklärungsobjekt der Forschung zur Theorie der Firma im strategischen Management ist die Firma. Das … strategische Management kennt nicht die eine Theorie der Firma. Hinter dem gemeinsamen Forschungsziel der Erklärung der Firma steht …-nomologischen Erklärungsschema hat der Pluralismus in der Theorie der Firma seine Ursache in der Verschiedenheit der zu erklärenden Ereignisse …
Persistent link: https://www.econbiz.de/10010398453
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …
Persistent link: https://www.econbiz.de/10010398564
This research examines variations in the diffusion of agriculture across countries and archaeological sites. The theory …
Persistent link: https://www.econbiz.de/10010420257