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An equilibrium analysis of efficiency gains from mergers

Jovanovic, Dragan; Wey, Christian - 2012

We analyze the efficiency defense in merger control. First, we show that the relationship between exogenous efficiency gains and social welfare can be non-monotone. Second, we consider both endogenous mergers and endogenous efficiencies and find that merger proposals are largely aligned with a...

Persistent link: https://www.econbiz.de/10010309799

Eye Tracking als Instrument der Werbeerfolgskontrolle

Nufer, Gerd; Ambacher, Vanessa - 2012

In Zeiten steigender Informationsüberlastung müssen Werbemedien zielgruppengerecht ge-staltet werden, damit die Werbebotschaft bei den Kunden wie gewünscht ankommt. Das moderne Eye-Tracking-Verfahren bietet Unternehmen die Möglichkeit, mit Hilfe modernster Technik, Werbemittel schon im...

Persistent link: https://www.econbiz.de/10010309801

Regional development in the context of an innovation process

Gust-Bardon, Natalia Irena - 2012

The purpose of this paper is to identify main components and driving forces behind an innovation process in order to support regions in organising their endogenous innovation process. To that end, we study models of an innovation process and analyse the case of Sophia Antipolis. This theoretical...

Persistent link: https://www.econbiz.de/10010309828

Wage subsidies and international trade: When does policy coordination pay?

Braun, Sebastian; Spielmann, Christian - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-30, pp. 1-42

National labour market institutions interact across national boundaries when product markets are global. Labour market policies can thus entail spill-overs, which suggest that there are benefits from international policy coordination. This paper studies the effects of wage subsidies in an...

Persistent link: https://www.econbiz.de/10010309835

A DSGE model for a SOE with systematic interest and foreign exchange policy in which policymakers exploit the risk premium for stabilization purposes

Escudé, Guillermo J. - 2012

This paper builds a DSGE model for a small open economy (SOE) in which the central bank systematically intervenes both the domestic currency bond and the FX markets using two policy rules: a Taylor-type rule and a second rule in which the operational target is the rate of nominal currency...

Persistent link: https://www.econbiz.de/10010310074

On the Necessity of Pairs and Triplets for the Equivalence between Rationality Axioms

He, Junnan - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-31, pp. 1-15

This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in the …

Persistent link: https://www.econbiz.de/10010310081

Circuit theory extended: The role of speculation in crises

Lancastle, Neil - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-34, pp. 1-27

This paper asks why modern finance theory and the efficient market hypothesis have failed to explain long-term carry …: An Integrated Approach to Credit, Money, Income, Production and Wealth, 2007) and the Theory of the Monetary Circuit to … enter investment markets and the system is precariously liquid/illiquid. In a Ponzi economy, where loans never get repaid …

Persistent link: https://www.econbiz.de/10010310322

Steuern in Agency-Modellen: Mehrperioden- und Multi-Task-Strukturen

Ewert, Ralf; Niemann, Reiner - 2012

In diesem Beitrag werden sowohl persönliche Steuern des Agenten als auch die vom Prinzipal zu tragende Unternehmenssteuer in ein Agency-Modell des LEN-Typs integriert. Wir analysieren die Auswirkungen dieser Steuern auf die optimale Anreizgestaltung. Für das Grundmodell mit nur einer...

Persistent link: https://www.econbiz.de/10010310621

Premium subsidies and social insurance: Substitutes or complements?

Kifmann, Mathias; Roeder, Kerstin - 2011

Premium subsidies have been advocated as an alternative to social health insurance. These subsidies are paid if expenditure on health insurance exceeds a given share of income. In this paper, we examine whether this approach is superior to social insurance from a welfare perspective. We show...

Persistent link: https://www.econbiz.de/10010310627

Identification of animal spirits in a bounded rationality model: An application to the euro area

Jang, Tae-Seok; Sacht, Stephen - 2012

In this paper we empirically examine a heterogeneous bounded rationality version of a hybrid New-Keynesian model. The model is estimated via the simulated method of moments using Euro Area data from 1975Q1 to 2009Q4. It is generally assumed that agents' beliefs display waves of optimism and...

Persistent link: https://www.econbiz.de/10010310636