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Dellas, Harris; Niepelt, Dirk - 2013

We develop a sovereign debt model with offcial and private creditors where default risk depends on both the level and the composition of liabilities. Higher exposure to offcial lenders improves incentives to repay but carries extra costs, such as reduced ex-post flexibility. The model implies...

Persistent link: https://www.econbiz.de/10011430101

Austerity

Dellas, Harris; Niepelt, Dirk - 2014

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired by a country and supported by its repayment...

Persistent link: https://www.econbiz.de/10011430112

European integration and domestic regions: A numerical simulation analysis

Melchior, Arne - 2009

Does European economic integration create more inequality between domestic regions, or is the opposite true? We show that a general answer to this question does not exist, and that the outcome depends on the liberalisation scenario. In order to examine the impact of European and international...

Persistent link: https://www.econbiz.de/10011430823

Macroeconomic Consequences of global endogenous migration: A general equilibrium analysis

Borgy, Vladimir; Chojnicki, Xavier; Le Garrec, Gilles; … - 2009

decades in a multi-regions overlapping generations general equilibrium model (INGENUE 2) in which the world is divided in ten …

Persistent link: https://www.econbiz.de/10011430833

Mergers and acquisitions - the standing of theory in the quest for better institutions and policy

Jensen, Camilla - 2010

The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons …. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused … growth). The deficiencies in the standing of theory will be reflected in weak institutions to handle the political processes …

Persistent link: https://www.econbiz.de/10011430846

The impact of innovation activities on firm performance using a multi-stage model: Evidence from the community innovation survey 4

Hashi, Iraj; Stojcic, Nebojsa - 2010

The impact of innovation on firm performance has been a matter of significant interest to economists and policy makers for decades. Although innovation is generally regarded as a means of improving the competitiveness of firms and their performance on domestic and foreign markets, this...

Persistent link: https://www.econbiz.de/10011430855

Theoriegrundlagen moderner Industriepolitik

Hahn, Franz R. - 1993

Persistent link: https://www.econbiz.de/10011435032

Regularity and Cointegration in Demand Systems

Kratena, Kurt; Wüger, Michael - 1998

This paper deals with the regularity problem in the Almost Ideal Demand System (AIDS) in terms of the boundedness of the budget shares within the [0,1] interval. The violation of "cointegration accounting" can be seen just as another consequence of irregularity. The discussion of modifications...

Persistent link: https://www.econbiz.de/10011435040

A Note on Labor Productivity and Foreign Inward Direct Investment

Egger, Peter; Pfaffermayr, Michael - 1999

Foreign Direct Investment (FDI) is not only a transfer of capital, but a complex bundle of capital and firm-specific assets like production and management know-how. In particular, the transfer of production know-how improves overall productivity of FDI-receiving firms and to some extent also...

Persistent link: https://www.econbiz.de/10011435044

Intangible Investment and Human Resources. The New WIFO Taxonomy of Manufacturing Industries

Peneder, Michael - 1999

Statistical cluster techniques are applied in the development of two new taxonomies of manufacturing industries. The first focuses on the distinction between exogenous, location dependent comparative cost advantages, such as the relative abundance of capital or labour, and endogenously created...

Persistent link: https://www.econbiz.de/10011435047