Search results for "LIST"
showing 10 items of 4869 documents
Monopolistic competition and different wage setting systems
2010
In this paper, we present a disequilibrium unemployment model without labor market frictions and monopolistic competition in the goods market within an infinite horizon model of growth. We consider different wage setting systems and compare wages, the unemployment rate, and income per capita in the long-run at firm, sector, and national (centralized) levels. The aim of this paper is to determine under which conditions, the inverted-U hypothesis between unemployment and the degree of centralization of wage bargaining, reported by Calmfors and Driffill [Economic Policy, 6, 14¿61, 1988], is confirmed. Our analysis shows that a high degree of market power normally produces the inverted-U shape …
Unemployment, taxation and public expenditure in OECD economies
2008
Abstract This paper considers the financing of productive public goods and social benefits through different types of taxes in a model with unemployment. We incorporate unemployment, caused by the wage-setting behaviour of a monopolistic union, in a neoclassical growth model which integrates a quite detailed structure of taxes used to finance productive public expenditures and social transfers and parameterizes the inefficiency of government to transform taxes into public goods or transfers. The main conclusion is that the relationship between unemployment and labour taxes critically depends on the degree of government efficiency and the unions' perception on how taxes determine the welfare…
Cross-listing, price discovery and the informativeness of the trading process
2003
This paper analyzes the price discovery process of securities that trade at multiple markets with trading sessions that totally or partially overlap. Building on Hasbrouck (1995) information share approach, we introduce a methodology that distinguishes two sources of information asymmetries between markets: trade-related and trade-unrelated informative shocks. This approach determines how much of each market?s relative contribution to the price discovery process during the overlapping period is attributable to its own trading activity. We provide empirical evidence on the contribution of the NYSE in the price discovery process of the Spanish cross-listed stocks during the daily two-hour ove…
Culture and team production
2018
Abstract This paper addresses theoretically the question whether culture has an effect on economic performance in team production, and what would be an optimal team culture. The members of a team are guided both by economic incentives and by personal norms, weighed according to their prevailing level of materialism. We assume that personal norms evolve following a dynamic driven by a combination of psychological mechanisms such as consistency and conformism. The different vectors of materialism, consistency and conformism shared by the group result in a continuum of cultures characterized by different combinations of individualism and collectivism. Team culture turns out to be a fundamental…
Blind justice: An experimental analysis of random punishment in team production
2010
We study the effect of blind punishment in a team production experiment, in which subjects choose non-observable effort levels. In this setting, a random exclusion mechanism is introduced, linked to the normalized group performance (R, from 0 to 1). Every round, each subject is non-excluded from the collective profit with probability R (and with probability 1 ! R gets no benefit from the group account). Punishment does not depend on the individual behavior, but the probability of being punished reflects collective performance. As the exclusion probability is computed at the group level, no individual information is needed to implement exclusion. However, the probabilistic punishment risks t…
‘Experimental Union’ and Baltic Sea cooperation: the case of the European Union’s Strategy for the Baltic Sea Region (EUSBSR)
2018
In the past, Baltic Sea cooperation has been characterized by a plethora of actors, embracing a wide range of policy objectives, such as the establishment of a good environmental status for the regional sea. In 2009, the European Council endorsed the European Union’s (EU) Strategy for the Baltic Sea Region (EUSBSR) as a new tool in the repertoire of Cohesion Policy and European Territorial Cooperation (ETC). The EUSBSR seeks to foster cross-sectoral coordination and functional cooperation in policy areas of ‘macro-region-level’ relevance, such as transport infrastructure, economic development and environmental protection – thus projecting a ‘soft space’ of transnational Baltic Sea cooperati…
An analysis of fear factors predicting enterprise social media use in an era of communication visibility
2022
PurposeThe benefits associated with visibility in organizations depend on employees' willingness to engage with technologies that utilize visible communication and make communication visible to others. Without the participation of workers, enterprise social media have limited value. This study develops a framework to assess what deters and drives employees' use of enterprise social media.Design/methodology/approachData were collected from 753 employees of a global company using an online survey. The response rate was 24.5%. The authors used structural equation modeling to test the hypothesized framework.FindingsThe results show that various fears by workers may deter or motivate enterprise …
Temperature and seasonality influences on Spanish electricity load
2002
Abstract Deregulation of the Spanish electricity market in 1998 and the possible listing of electricity or weather derivative contracts have encouraged the study of the relationship between electricity demand and weather in Spain. In this paper, a transfer function intervention model is developed for forecasting daily electricity load from cooling and heating degree–days. The influence of weather and seasonality is proved, and is significant even when the autoregressive effects and the dynamic specification of the temperature are taken into account. The estimated general model shows a high predictive power. The results and information presented in this paper could be of interest for current…
Empirical definition of social types in the analysis of inequality of opportunity: a latent classes approach
2014
The empirical analysis of inequality of opportunity centres on disparities between social types, defined by the exposure to circumstances beyond individual control. Despite this, its main theoretical foundation—the Roemer model—does not indicate how to carry out, in practice, the required partition of the population into such types. This paper operationalises this definition of social types using a latent classes approach. Our specification is embedded in a probabilistic extension of the canonical Roemer model, which assumes that the relevant population consists of a finite number of latent types, from which each individual can be treated as a random draw. This makes possible the use of the…
Multi-product firms and product variety
2008
The goal of this paper is to study the role of multi-product firms in the market provision of product variety. The analysis is conducted using the spokes model of non-localized competition proposed by Chen and Riordan (2007). Firstly, we show that multi-product firms are at a competitive disadvantage vis-a-vis single-product firms and can only emerge if economies of scope are sufficiently strong. Secondly, under duopoly product variety may be higher or lower with respect to both the first best and the monopolistically competitive equilibrium. However, within a relevant range of parameter values duopolists drastically restrict their product range in order to relax price competition, and as a…