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101.
Abstract Seasonality is one of the most important features of economic time series. The possibility to abstract from seasonality for the assessment of economic conditions is a widely debated issue. In this paper we propose a strategy for assessing the role of seasonal adjustment (SA) on business cycle measurement. In particular, we provide a method for quantifying the contribution to the unreliability of the estimated cycles extracted by popular filters, such as Baxter and King and Hodrick–Prescott (HP). The main conclusion is that the contribution is larger around the turning points of the series and at the extremes of the sample period; moreover, it much more sizeable for highpass filters, like the HP filter, which retain to a great extent the high‐frequency fluctuations in a time series, the latter being the ones that are more affected by SA. If a bandpass component is considered, the effect has reduced size. Finally, we discuss the role of forecast extensions and the prediction of the cycle. For the time series of industrial production considered in the illustration, it is not possible to provide a reliable estimate of the cycle at the end of the sample.  相似文献   
102.
103.
Review of Industrial Organization - The Directorate General for Competition at the European Commission enforces competition law in the areas of antitrust, merger control, and state aids. This...  相似文献   
104.
Managing innovation in rapidly moving environments, such as Internet‐based services, is a major challenge in theory and in practice. Most of the existing literature focuses on the development process as the main area in which innovation takes place. However, in environments where the pace of change of technology and market needs is extremely high, managing service innovations means not only being able to design a good service but also, more importantly, continuously redesigning and adapting the service in order to deal with frequent exogenous changes and opportunities. A high number of innovations therefore must be introduced throughout the entire life cycle of a service. This capability of introducing incremental and radical innovations during the service life cycle (i.e., to adapt a service to contextual changes and opportunities after it has been first released onto the market) at low costs and in the shortest possible time is what is defined here as service life‐cycle flexibility. This process of service adaptation and upgrading implies significant challenges that can be traced back to when a service is first conceived and designed. In fact, many decisions made during the first design process (i.e., the choice of a given database environment) involve a low reversibility rate and may reduce the possibility of taking advantage of future unpredictable opportunities, creating what is called inertia toward innovation. In other words, service life‐cycle flexibility largely depends on how a service has been first designed. This article analyzes two in‐depth case studies of Italian online newspapers and identifies five possible inertia factors that may influence service life‐cycle flexibility, namely (1) technological inertia; (2) internal organizational inertia; (3) external organizational inertia; (4) customer inertia toward changes in the service package; and (5) customer inertia toward changes in the service interaction design. These inertia factors are traced back to the service development process in order to suggest design practices that may increase the service life‐cycle flexibility.  相似文献   
105.
The Directorate General for Competition at the European Commission enforces competition law in the areas of antitrust, merger control, and state aids. This year’s article provides first a general presentation of the role of the Chief Competition Economist’s team and surveys some of the main achievements of the Directorate General for Competition over 2017/2018. The article then reviews: the Google Search (Shopping) case, the role of price discrimination in state aid cases; and the use of counterfactuals in merger cases where alternative transactions might have occurred absent the merger.  相似文献   
106.
The vertical scope of a firm, that is, which components or segments of the production processes are kept in–house and which are outsourced, is variously considered as depending on cost and/or technological conditions. Most of the literature focuses on the incentives for an individual firm facing exogenous competition and technological opportunities. In this paper we consider the problem from the perspective of the whole industry: in what respect does firm organizational behavior depend on the industry technological evolution and aggregate structure, and how does innovation and organizational behavior affect the industry structure. We build an evolutionary simulation model of an industry where competitors decide the number of internally produced components. We relate the industry average value of market outsourcing to the technological conditions prevalent in the industry. The results from the model shed light on a number of (apparently) contradictory suggestions in the economic and management literature.  相似文献   
107.
En este artículo se investigan los vínculos entre ingresos, capital humano y tareas laborales, utilizando información internacionalmente comparable del PIAAC (OCDE) sobre competencias de adultos. Tomando el marco teórico de Autor y Handel (2013), se amplía el análisis empírico a 21 países de la OCDE. Los datos permiten tener en cuenta tanto el nivel de instrucción como una medida de las competencias cognitivas. Los resultados confirman que las tareas que implica cada ocupación tienen influencia en las diferencias salariales tanto entre ocupaciones como dentro de cada una y proporcionan pruebas empíricas del poder de predicción del modelo para un gran número de países.  相似文献   
108.
In this paper, I analyze the cost structure of the Italian higher education system for the decade between 2001 and 2011, by means of a stochastic translog cost function. I suggest that the judgment about the optimal configuration of the sector is strongly dependent upon the policy priorities set by decision makers. When assuming that the universities’ output is the number of students, scale economies are exhausted, and marginal costs are relatively low; when considering graduates as outputs instead, there is opportunity for increasing the scale of operations. Inefficiency affects production in a sensible manner, especially when assuming that the target output is the number of graduates. Moreover, efficiency contributes to explaining a relevant portion of the productivity increases in the period. No significant scope economies between teaching and research emerge, suggesting that a higher degree of universities’ specialization can be a direction for improving the sector’s efficiency and productivity.  相似文献   
109.
How to hire voluntary helpers? We shed new light on this question by reporting a field experiment in which we invited 2859 students to help at the ‘ESA Europe 2012’ conference. Invitation emails varied non-monetary and monetary incentives to convince subjects to offer help. Students could apply to help at the conference and, if so, also specify the working time they wanted to provide. Just asking subjects to volunteer or offering them a certificate turned out to be significantly more motivating than mentioning that the regular conference fee would be waived for helpers. By means of an online-survey experiment, we find that intrinsic motivation to help is likely to have been crowded out by mentioning the waived fee. Increasing monetary incentives by varying hourly wages of 1, 5, and 10 Euros shows positive effects on the number of applications and on the working time offered. However, when comparing these results with treatments without any monetary compensation, the number of applications could not be increased by offering money and may even be reduced.  相似文献   
110.
For an assessment of market power on the wholesale (or merchant) market in the presence of vertically integrated firms, we analyze the interaction of direct constraints, arising from competition on the wholesale market, and of indirect constraints, arising from substitution on the retail market. A vertically integrated firm that still participates in the merchant market exerts both direct and indirect constraints. We analyze the factors that determine the importance of indirect constraints. We find that, in contrast to a common presumption, indirect constraints are sometimes more powerful than direct constraints. We furthermore analyze the incentives of integrated firms to still participate in the merchant market, provided that this is technologically feasible.  相似文献   
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