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Potential output, the natural rate of unemployment, and the Phillips Curve in a multivariate structural time series framework

Hahn, Franz; Rünstler, Gerhard - 1996

We propose a bivariate structural time series framework to decompose GDP and the unemployment rate into their trend, cyclical, and irregular components. We implement Okun's law by a generalised version of the common cycles restriction allowing for a phase shift between the two cycles and add a...

Persistent link: https://www.econbiz.de/10010291052

Comparative advantage in international trade: Theory

Ursulescu, Mirela - 1996

Based on the Heckscher-Ohlin-Vanek (H-O-V) theory, the paper develops theoretical models that lead to estimating cross …-industry equations in a proper way, when allowing for departures from some of the strong assumptions of the H-O theory, such as perfect … reformulate the rank hypotheses that allow for direct tests of the H-O-V theory when some of the assumptions of the original …

Persistent link: https://www.econbiz.de/10010291053

A combined Ricardian and Heckscher-Ohlin model of comparative advantage

Leamer, Edward E. - 1995

The Heckscher-Ohlin theory and the Ricardian theory of international commerce traditionally have been treated as … integrated theory. This paper combines the Heckscher-Ohlin model and Ricardian model into a single unified framework and offers …

Persistent link: https://www.econbiz.de/10010291054

Vacancy durations: A model for employer's search

Weber, Andrea - 1997

This paper investigates a Dutch data set on vacancy durations and numbers of applicants to inquire employer's search strategies. A non-sequential search process assumes that most vacancies are filled from a pool of applicants, which is formed shortly after the posting of the vacancy. The time...

Persistent link: https://www.econbiz.de/10010291058

Auctions: A survey

Böheim, René; Zulehner, Christine - 1996

The importance of auction theory has gained increased recognition in the scientific community, the latest recognition … being the award of the Nobel price to Vickrey and Mirrlees. Auction theory has been used in quite different fields, both …

Persistent link: https://www.econbiz.de/10010291059

The NAIRU-concept: A few remarks

Pichelmann, Karl; Schuh, Ulrich - 1996

This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilizes in the absence of any wage-price surprises. Conventional thinking...

Persistent link: https://www.econbiz.de/10010291066

Heterogeneous consumers, vertical product differentiation and the rate of innovation

Zweimüller, Josef; Brunner, Johannes K. - 1996

This paper studies the impact of income inequality on the level of innovative activities in a model where innovations result in quality improvements. The market for quality goods is characterized by a natural oligopoly with three types of consumers - rich, middle class and poor. In general, we...

Persistent link: https://www.econbiz.de/10010291067

Entry threat in Duopoly

Peitz, Martin - 1996

An oligopolistic market with vertical product differentiation is parametrized in cost parameters. This allows me to study the impact of the technology of the firms (cost parameters) on market structure, conduct, and performance. Firms which differ only by the order of the sequential move to...

Persistent link: https://www.econbiz.de/10010291068

Consumption based capital asset pricing and the Austrian Stock Exchange

Böheim, René; Boss, Michael - 1996

Using data from the Vienna Stock Exchange we investigate three different types of consumption based capital asset pricing models: the well known two state model of Mehra and Prescott, the model of Rietz, which includes also a crash state, and an own four state model. The aim of this Vienna Stock...

Persistent link: https://www.econbiz.de/10010291074

Technology transfer with moral hazard

Choi, Jay Pil - 1996

This paper develops an incomplete contract model of the licensing relationship that is susceptible to the moral hazard problem. The optimal contractual form of licensing derived in the model generates predictions that seem to be consistent with actual practice. For instance, the introduction of...

Persistent link: https://www.econbiz.de/10010291075