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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
The current discussion about stability of the European money demand function is flawed by a confusion of two different concepts of stability (adjustment speed versus error variance). The meaning and importance of the underlying notions of stability is clarified. It is demonstrated that necessary...
Persistent link: https://www.econbiz.de/10010398202
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
-specific holdings of human and physical capital confront real-income risk due to uncertainty in the economy's terms of trade. White …
Persistent link: https://www.econbiz.de/10010398212
The paper sets up an analytical framework within which the arguments for centralized vs. decentralized tax policy can be represented and weighed against each other. Two aspects of the debate are considered: first, the global welfare effects of 'harmonizing' tax reforms are discussed when...
Persistent link: https://www.econbiz.de/10010398224
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 …
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