In Search of the Transmission Mechanism of Fiscal Policy in the Euro Area

This paper applies the DSGE‐VAR methodology to assess the size of fiscal multipliers in the data and the relative contributions of two transmission mechanisms of government spending shocks, namely hand‐to‐mouth consumers and Edgeworth complementarity. Econometric experiments show that a DSGE model with Edgeworth complementarity is a better representation of the transmission mechanism of fiscal policy as it yields dynamic responses close to those obtained with the flexible DSGE‐VAR model (i.e. an impact output multiplier larger than one and a crowding‐in of private consumption). The estimated share of hand‐to‐mouth consumers is too small to replicate the positive response of private consumption. Copyright © 2016 John Wiley & Sons, Ltd.     

Modern Slavery Disclosure Regulation and Global Supply Chains: Insights from Stakeholder Narratives on the UK Modern Slavery Act

Journal of Business Ethics - The purpose of this article is to problematise a particular social transparency and disclosure regulation in the UK, that transcend national boundaries in order to...     

Ethical Codes in Sports Organizations: Classification Framework,Content Analysis,and the Influence of Content on Code Effectiveness

Although there is a growing body of research on social media, only few studies have considered organic products. Therefore, this study mapped the diffusion path of the social media resources for organic products in Mexico and South Korea through Twitter and compared the contents of tweets about organic products in terms of their semantic and hyperlink networks using webometric methods. The results indicate that for organic products, Koreans sent tweets much more frequently than Mexicans. Mexican tweets focused on basic food products in street markets, whereas Korean tweets highlighted promotions and firms, revealing the corporatist structure of its economy. In both cases, the findings support Twitter as a useful tool for Word-of-Mouth Communication on the online environment, among product consumers, and between consumers and enterprises.     

Naked exclusion by a dominant input supplier: Exclusive contracting and loyalty discounts

Recent literature has shown that an incumbent can use exclusive contracts to maintain supra-competitive prices when buyers of the good are also competitors. Most of the models require the incumbent to completely prevent a more efficient potential entrant from entering, and assume that the entrant is exogenously prevented from making exclusive offers. Such models cannot explain how exclusive arrangements can lower welfare when they do not completely foreclose a small rival, when the rival can make exclusive offers, nor can they identify rudimentary relationships such as how a dominant supplier's size affects his incentive and ability to exclude and lower welfare. I extend the intuition of the literature by formally modeling competition between a dominant input supplier and a small rival selling to competing downstream firms. I show that a dominant supplier can pay downstream firms for exclusivity, allowing him to maintain supra-competitive input prices, even when a small rival that is more efficient at serving some portion of the market can make exclusive offers. I also show that exclusives need not completely exclude the small rival to cause competitive harm. The payment the dominant supplier makes for exclusivity equals the incremental rents that the rival's input could generate if exactly one downstream firm sold final goods using it.     

On the Differential Effects of European Patents

Since the invention of the European Patent System, national patent systems have continued to co-exist, although they did lose appeal. How have the different national systems been affected in view of their characteristics? In order to answer this question a constant-market-share (CMS) analysis is carried out. While on a theoretical level, the different elements adding to the appeal of each patent system are discussed, the CMS-analysis reveals the importance of country size in that the national systems of smaller countries lose.     

Cities and cyberspace: new entrepreneurial strategies

E-commerce is increasingly influencing business operations, as a major supportive medium for different strategies or as a strategy on its own. This paper seeks to identify impacts from concomitant changes on the development of cities. To this purpose, emerging time-based strategies are analysed in manufacturing and customer-services strategies are analysed in the services sector. The focus of the study is on proximity needs and what these needs imply for elimination of physical segments from value chains and insertion of virtual segments into these chains. The findings are then linked with trends for agglomeration or spread of urban activity. The conclusion is that the future of cities is far from clear. Trends for agglomeration go hand in hand with trends for spread on different spatial levels. In addition, there are huge knowledge gaps. The paper concludes with suggestions for further research to fill these gaps.