Private cards and the bypass of payment systems by merchants

This paper studies the incentives of a merchant to bypass a payment platform by issuing private cards. In our model, a payment platform allocates the total cost of a card transaction between a monopolistic issuer and a monopolistic acquirer by choosing an “interchange fee”. We determine how the level of the interchange fee impacts a merchant’s decision to issue private cards, if there are strategic interactions between merchants. We prove that the payment platform can only deter entry by lowering the level of the interchange fee. If the payment platform chooses to accommodate entry, we find that the total user surplus increases, but that entry is beneficial to social welfare only if the entry cost is sufficiently low.     

Efficiency potential and determinants of efficiency: an analysis of the care for the elderly sector in Norway

The paper provides an analysis of efficiency in the care for the elderly sector in Norway. In a first step, we perform DEA analysis to calculate the degree of efficiency in each municipality and the national level efficiency potential. The analysis reveals substantial variation in efficiency across municipalities, and the national level efficiency potential is calculated to 10%. Tobit regressions and recently developed bootstrap methods are applied in a second stage to explain the variation in efficiency. The second stage analyses indicate that high fiscal capacity, a low degree of user charge financing, and a fragmented local council are associated with low efficiency.     

Bridging the Gap between Millennial Consumers,Social Media,and Agricultural Branding Programs: A Qualitative Assessment

With a growing trend for geographical branding efforts within the United States, particularly for individual states, the need to better understand how consumer groups respond to these efforts becomes prevalent, particularly for agricultural brands. The current study analyzes Millennial consumer response to agricultural branding programs within the United States and the effects of social media on this process. Using the Generational Cohort Theory (GCT) and Maslow’s Hierarchy of Needs (HoN) as key foundations, a qualitative assessment was completed on Millennial consumers across various university campuses within one U.S. state. Results revealed that five key themes emerged relating to locally produced foods (definition, users, access, experiences and marketing/branding) while four themes emerged from the discussions on social media (applications, activity, advertising and information flow/communication). From these themes, a new conceptual ‘hierarchy’ is proposed that can be used to explain how Millennial consumers can become better connected with agricultural programs and branding messages moving forward. Implications and future research directions are provided.     

With license to build: Chinese offshore wind firms rejecting European certificates

This paper examines the role of six European certification firms attempt to position themselves in China’s offshore wind industry. We find that European certification firms lack attention to local needs and struggle with differences in risk perceptions. Chinese companies, on their part, stress the importance of first-hand experience rather than foreign involvement in project development, making the efforts of European certification companies redundant. We conclude that the Chinese development strategy is in opposition to established European certification practices: from a Chinese perspective, the European approach looks like over-engineered project development, whilst in China, taking risks and gaining access to necessary experienced and ‘independent’ knowledge is seen as a precondition for developing the offshore wind industry.     

Identifying Changes in Mean,Seasonality, Persistence and Volatility for G7 and Euro Area Inflation*

We propose an iterative decomposition that tests and accounts for multiple structural breaks in the mean, seasonality, dynamics and conditional volatility, while also accounting for outliers. Considering each component separately within each iteration leads to greater flexibility compared with joint procedures. Monte Carlo analysis shows the procedure performs well. Applied to monthly CPI inflation in G7 countries and the Euro area, we uncover mean and seasonality breaks for all countries and, allowing for these, changes in persistence are generally also indicated. Further, volatility reductions are widespread in the early to mid 1980s, with some countries exhibiting increases from 1999 onwards.     

Schwaches Produktivitätswachstum — zyklisches oder strukturelles Phänomen?

Labour productivity growth in Germany and in the OECD countries has decelerated significantly in recent years. This observation is astonishing, given the fact that modern digital services can now be found throughout the economy. It may be a statistical artefact, but if it is a realistic observation, it should be investigated. The authors describe many reasons for this development. For example, the services sector, with its traditionally low productivity, makes up an increasingly large part of the economy. Moreover, the cost intensity of innovations is growing, and there are not enough innovative investments. What should be done? Reforms are suggested which aim at exploiting unused potential and create suitable conditions for facilitating sustainable productivity increases. Important policy areas include digitisation, energy transition and demographic change. But reforms must also be thought of as investments into the capacity of employees to work productively.     

The Social Shaping of the Participation of Employees in Environmental Work within Enterprises - Experiences from a Danish Context

The paper deals with the shaping of the participation of employees in environmental work within enterprises. The paper is based on two case studies on Danish enterprises, which, as part of the development of their environmental work, emphasized employee involvement. The cases show that it is difficult to maintain the participation of employees in environmental work, even in enterprises with an intention to do so. The cases contribute to the identification of those situations during the shaping of environmental work in an enterprise where choices concerning employee participation are made: (1) The need of management to involve employees in the environmental work; (2) The competence building among employees and local supervisors; and (3) The stabilization of the environmental work into routines and structures. The theoretical approach draws on organizational theory emphasizing the connection between environmental strategies, measures and competence needs, and the shaping of the participation of employees as social processes formed by the existing culture and the pressure generated by the preventive environmental work.     

Immigration Wage Effects by Origin

We estimate the direct partial wage effects of immigrant‐induced increases in labor supply, using the national skill cell approach with longitudinal records drawn from Norwegian administrative registers. The results show overall negative but heterogeneous wage effects, with larger effects on immigrant wages than on native wages and with native wages more responsive to inflows from Nordic countries than from developing countries. These patterns are consistent with natives and Nordic citizens being close substitutes, while natives and immigrants from developing countries are imperfect substitutes. Estimates are sensitive to accounting for effective immigrant experience, selective native participation, and variation in demand conditions and native labor supply.