Measuring climate policy stringency: a shadow price approach

To assess the effect of environmental policy on production structures, trade structures, or foreign direct investment, a measure for the stringency of policy is necessary. Measures typically used in empirical studies share several disadvantages: they are not available on a sectoral basis to reflect concerns of industry competitiveness; they are not available for a wide range of countries to allow for international comparisons; or they are not broad enough to reflect the multidimensionality of environmental policy. This paper develops a thorough, internationally comparable, sector-specific measure of multidimensional climate policy stringency where a shadow price approach serves as a basis. The approach is applied to climate policy by determining sector-specific emission-relevant energy costs on the basis of the sectors’ usage of emission-relevant energy carriers and the carriers’ respective prices. The resulting shadow price estimates are heterogeneous and can be applied in future research to test for carbon leakage and pollution havens.     

Arbeitsmarktrisiken in der Leiharbeit

Der Einsatz von Leiharbeit soll den Betrieben mehr Flexibilit?t erm?glichen und die Kosten senken. Arbeitslose k?nnten davon profitieren, dass die Besch?ftigung bei einer Leiharbeitsfirma den Einstieg in die regul?re Besch?ftigung erleichtert. Tats?chlich zeigen die aktuellen Daten, dass Leiharbeiter schlecht entlohnt, h?ufig wieder arbeitslos und kaum qualifiziert werden.     

Volkswirtschaftslehre als Wirtschaftslehre

Ohne ZusammenfassungAmonn, A.: Grundzüge der Volkswohlstandslehre. I. Teil: Der Prozeß der Woblstandsbildung (Die Volkswirtschaft). Deskriptive und theoretische Volkswirtschaftslehre. Jena: Gustav Fischer. 1926, VI und 403 Seiten. Großoktav.     

Vollbeschäftigung

Diesem Aufsatz liegen Vorträge zugrunde, die der Verfasser Mitte Mai 1938 an der Handelshochschule in Rotterdam und an den Universitäten Amsterdam und Utrecht gehalten hat.     

Der Kriseneffekt bei verringerter zusätzlicher Kaufkraftschöpfung

Ohne Zusammenfassung     

INTERNET INVESTMENT BANKING: THE IMPACT OF INFORMATION TECHNOLOGY ON RELATIONSHIP BANKING

The production "technology" of investment banking, particularly in the pricing and distribution of securities offerings, has long depended on the ability of bankers to build and maintain networks of relationships with institutional investors and client firms. Among other benefits, these relationships enabled banks to economize on communications with investors at a time when communicating with the investment community was quite costly. But recent advances in information technology are forcing banks to reevaluate this relationship-based technology. For example, Goldman Sachs recently purchased a stake in Wit Capital's efforts to build a retail distribution channel via the Internet. And William Hambrecht, founder of Hambrect & Quist, has gone so far as to propose that IPOs be put up for auction over the Internet.
This article offers both historical and economic perspective on these technological innovations in investment banking. In so doing, it provides a framework for thinking about how this segment of the industry is likely to evolve in the near future. It also discusses how advances in information technology coupled with the increasing codification of investment banking practices could reduce the central role of human capital and relationships elsewhere within investment banks, and how this might influence both the organization of individual banks and the industry in general.