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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
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...
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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
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
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
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
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