Strategic Trade Policy in the Presence of Network Effects

The paper analyzes strategic trade policy for national and international network effect goods. While tariffs are very effective in securing the domestic producer's sales in case of network effects, our results suggest that strategic trade policy does not pay from a welfare perspective. Another interesting result is the possibility of negative tariffs in equilibrium.     

I. Allgemeine wirstchaftslehre

Ohne Zusammenfassung     

Comment

In his comment on Dymski and Pollin the author focuses on the relevant characteristics in the development of OECD countries as well as differences between the performance of North American and European economies in recent years. Emphasis is put on output and productivity growth and employment and real wage experiences. The paper discusses Verdoorn' law and the question of how real phenomena are linked to monetary ones, in particular the financial constraints on full employment policies.     

Estimating the trade and welfare effects of Brexit: A panel data structural gravity model

This paper proposes a new panel data structural gravity approach for estimating the trade and welfare effects of Brexit. Assuming different counterfactual post‐Brexit scenarios, our main findings suggest that the UK's exports of goods to the EU are likely to decline within a range between 7.2% and 45.7% six years after Brexit has taken place. For the UK, the negative trade effects are only partially offset by an increase in domestic trade and trade with third countries, inducing a decline in the UK's real income of between 0.3% and 5.7%. The estimated welfare effects for the EU are not different from zero, but some members like Ireland are expected to also experience welfare losses.     

Customer Tuchpoins marken- und kundenpezifisch mangen

Marken hinterlassen an allen Kontaktpunkten mit Kunden Spuren und Fingerabdrücke. Dessen sind sich Manager und Mitarbeiter oft nicht bewusst. Das Management sowie die marken- und kundenspezifische Abstimmung aller Kontaktpunkte bieten somit gro?es Potenzial für Unternehmen zur wirksameren Vermarktung ihrer Marken. Unternehmen, die Kunden ganzheitlich positive und zufriedenstellende Markenerlebnisse an allen Kontaktpunkten vermitteln, sind erfolgreicher im Wettbewerb.     

Monopsonistic discrimination, worker turnover, and the gender wage gap

Motivated by models of worker flows, we argue in this paper that monopsonistic discrimination may be a substantial factor behind the overall gender wage gap. Using matched employer–employee data from Norway, we estimate establishment-specific wage premiums separately for men and women, conditioning on fixed individual effects. Regressions of worker turnover on the wage premium identify less wage elastic labour supply facing each establishment of women than that of men. Workforce gender composition is strongly related to employers' wage policies. The results suggest that 70–90% of the gender wage gap for low-educated workers may be attributed to differences in labour market frictions between men and women, while the similar figures for high-educated workers ranges from 20 to 70%.     

International Spillovers of Output Growth and Output Growth Volatility: Evidence from the G7

This paper examines the transmission of GDP growth and GDP growth volatility among the G7 countries over the period 1960Q1 – 2010Q4, using a multivariate GARCH model and volatility impulse response functions (VIRFs) to identify the source, magnitude and the duration of volatility spillovers. Results indicate the presence of positive own-country GDP growth spillovers in each country and cross-country GDP growth spillovers among most of the G7 countries. In addition, the large number of significant own-country output growth volatility spillovers and cross-country output growth volatility spillovers indicates that output growth shocks in most of the G7 countries affect output growth volatility in the other remaining countries. An additional finding is that the duration of output growth volatility spillovers has increased over time from some seven quarters in the 1970s to some ten quarters during the recent crisis, which is likely to be due to the increased integration of goods and financial markets.     

Fourier inversion—distribution functions—long tails

Abstract

Given a characteristic functionφ(t) we want to calculate the corresponding distribution function. For the sake of simplicity we will assume that the mean value of the distribution is zero, i.e. that φ'(0) =0. For these calculations we will use the following formula where The dash on the summation sign indicates that the term corresponding to k = 0 is missing.