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Trend Extraction From Time Series With Structural Breaks and Missing Observations

Schlicht, Ekkehart - 2008

Trend extraction from time series is often performed by using the filter proposed by Leser (1961), also known as the Hodrick-Prescott filter. Practical problems arise, however, if the time series contains structural breaks (as produced by German unification for German time series, for instance),...

Persistent link: https://www.econbiz.de/10010427520

Unionisation triggers tax incentives to attract foreign direct investment

Haufler, Andreas; Mittermaier, Ferdinand - 2008

This paper analyses tax competition between a unionised and a non-unionised country for the location of an outside firm. We show that unionisation offers an extra incentive for the government to attract a foreign competitor to a concentrated domestic market, in order to affect the behaviour of...

Persistent link: https://www.econbiz.de/10010427522

Consistency in Organization

Schlicht, Ekkehart - 2008

modern compensation theory, but has not been extended to organization theory. The idea is developed by starting from … Williamson's discussion of idiosyncratic exchange. The perspective sheds new light on several topics in the theory of the firm … of incentives, or the role of routines. It implies a “perceptional” theory of the firm that is “realistic” in the sense …

Persistent link: https://www.econbiz.de/10010427523

The Optimal Regulation of Credit Rating Agencies

Forster, Josef - 2008

Credit rating agencies (CRAs) very often have been criticized for announcing inaccurate credit ratings and are suspected of being exposed to conflicts of interest. Despite these objections CRAs remained largely unregulated. Based on Pagano & Immordino (2007), we study the optimal regulation of...

Persistent link: https://www.econbiz.de/10010427528

Group versus Individual Lending in Microfinance

Lehner, Maria - 2008

Microfinance is typically associated with joint liability of group members. However, a large part of microfinance institutions rather offers individual instead of group loans. We analyze the incentive mechanisms in both individual and group contracts. Moreover, we show that microfinance...

Persistent link: https://www.econbiz.de/10010427529

A Model of Vertical Oligopolistic Competition

Reisinger, Markus; Schnitzer, Monika - 2008

This paper develops a model of successive oligopolies with endogenous market entry, allowing for varying degrees of product differentiation and entry costs in both markets. Our analysis shows that the downstream conditions dominate the overall profitability of the two-tier structure while the...

Persistent link: https://www.econbiz.de/10010427530

Endogenous Systemic Liquidity Risk

Cao, Jin; Illing, Gerhard - 2008

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2007), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...

Persistent link: https://www.econbiz.de/10010427534

Computational Complexity in Additive Hedonic Games

Sung, Shao-Chin; Dimitrov, Dinko - 2008

We investigate the computational complexity of several decision problems in hedonic coalition formation games and demonstrate that attaining stability in such games remains NP-hard even when they are additive. Precisely, we prove that when either core stability or strict core stability is under...

Persistent link: https://www.econbiz.de/10010427536

Survey Evidence on Conditional Norm Enforcement

Traxler, Christian; Winter, Joachim - 2009

We discuss survey evidence on individuals' willingness to sanction norm violations - such as evading taxes, drunk driving, fare dodging, or skiving o work - by expressing disapproval or social exclusion. Our data suggest that people condition their sanctioning behavior on their belief about the...

Persistent link: https://www.econbiz.de/10010427541

The Open Method of Coordination (OMC) as an Evolutionary Learning Process

Ania, Ana B.; Wagener, Andreas - 2009

social policy and other fields, as an imitative learning dynamics of the type considered in evolutionary game theory. The …

Persistent link: https://www.econbiz.de/10010427544