The Aggregate Demand Curve and Its Proper Interpretation

Textbook authors, in their presentations of aggregate demand–aggregate supply, are admonished to set their houses in order. The writers suggest the continued usefulness of the traditional “Keynesian cross” model as a pedagogical device and present a version that they allege to be superior to the popular AD–AS models found in many contemporary texts.     

Akquisitionscontrolling in der Praxis – Eine theoriegeleitete Fallstudie

Zusammenfassung  Wie werden Unternehmen in der Praxis bewertet? Welche bewertungstheoretischen Grundlagen liegen der Bewertung zugrunde? Welche Themenstellungen im Rahmen des Akquisitionscontrolling sind von zentraler Bedeutung für den Erfolg von M&A-Transaktionen? Als Gegenstand vieler Diskussionen und Faktoren mit erheblichem Einfluss auf den Unternehmenswert k?nnen beispielhaft folgende Spannungsfelder aufgeführt werden:

DELAYED OVERSHOOTING AND REAL EXCHANGE RATE PERSISTENCE IN AN IMPERFECT INFORMATION MODEL

Recent studies have pointed out that monetary shocks in sticky price models cannot generate real exchange rates that exhibit delayed overshooting and are highly persistent. This paper demonstrates that such exchange rate dynamics can be generated by incorporating incomplete information about the true nature of the monetary shock into a standard New Keynesian model of a small open economy.     

Access Pricing,Quality Degradation,and Foreclosure in the Internet

Access to both a local and a global network is needed in order to get complete connection to the Internet. The purpose of this article is to examine the interplay between those two networks and how it affects the domestic public policy towards a domestic provider of local access. We find that a cost-oriented regulation is detrimental to domestic welfare, because it shifts profit to the foreign provider of global access. The optimal policy is that the regulator commits itself to set an access price above costs, possibly the same price as in an unregulated market economy. A regulation of the global access price has a non-monotonic effect on domestic welfare, and there is a potential conflict between international and domestic regulation policy.     

Access price structure and entrant build-or-buy incentives in mobile markets

Journal of Regulatory Economics - We consider a market structure with three mobile providers, two of which are vertically integrated with nationwide coverage. The third provider (an entrant)...     

Qualitätserwartungen,Qualitätswahrnehmungen und die Nutzung von Fernsehserien

Ziel des Beitrags ist die Beantwortung der Frage, welche Faktoren die Nutzung von Fernsehserien erkl?ren k?nnen. Kann sie im Wesentlichen auf Habitualisierung und strukturelle Rahmenbedingungen zurückgeführt werden, oder l?sst sie sich dadurch erkl?ren, dass die Erwartungen an die Qualit?t von Fernsehserien und die Wahrnehmung von Qualit?tseigenschaften der verschiedenen Serien zwischen den Rezipienten variieren? Zun?chst werden die theoretisch relevanten Faktoren für ein Modell der subjektiven Qualit?tsauswahl identifiziert und operationalisiert. Anschlie?end wird in einer empirischen Studie geprüft, ob diese Faktoren einen Einfluss auf die Nutzung der Fernsehserien haben. Die Untersuchungsergebnisse zeigen, dass die drei Elemente des theoretischen Ansatzes — Qualit?tserwartungen, Qualit?tswahrnehmungen und Qualit?tsurteile — die Seriennutzung zu einem betr?chtlichen Teil erkl?ren k?nnen. Der Vorteil dieses Ansatzes gegenüber dem Uses and Gratifications Approach besteht darin, dass die Eigenschaften des Angebots im Mittelpunkt stehen. Damit wird es m?glich, Aussagen darüber zu machen, welche wahrgenommenen Merkmale des Angebots für die Nutzungsentscheidungen der Rezipienten relevant sind.     

The long and winding roads: Perceived quality of scenic tourism routes

This study aims to understand self-drive tourists’ satisfaction with and loyalty toward scenic roads. Building on previous studies in the context of tourism destinations, satisfaction is hypothesised to be influenced by leisure and holiday motorists’ motivation for driving the routes and the provision of roadside facilities. In turn, satisfaction is assumed to increase motorists’ loyalty toward the route. The study comprises data from two scenic roads in Norway that differ with respect to landscapes formations, settlements, experiences along the routes, and travel distance. Data are analysed using structural equation modelling. Results show that roadside facilities play a crucial role in achieving overall satisfaction and loyalty among motor tourists, and that route managers should improve the quality of these and related infrastructure facilities and services. Moreover, the study indicates that it is important to take into consideration the motorists’ desire to experience attractive sceneries in order to increase overall route satisfaction. Finally, satisfaction is demonstrated to significantly increase route loyalty, although this relationship appears weaker than in conventional destination studies.     

The real effects of delisting: Evidence from a regression discontinuity design

We study how the delisting of a firm’s stock, and the accompanying drop in liquidity, causally affects a firm’s real economic decisions. Although delisting is endogenous, we identify a causal effect by using regression discontinuity design (RDD). This technique suits the delisting problem because the probability of delisting rises discontinuously when observable variables pass known thresholds. We find that delisting results in a modest decline in investment and cash saving and an important and robust decline in employment.