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排序方式: 共有120条查询结果,搜索用时 31 毫秒
1.
Michal Kvasnička Rostislav Staněk Ondřej Krčál 《Journal of Industry, Competition and Trade》2018,18(1):47-58
This paper studies the effect of station density on prices in the retail gasoline market in the Czech Republic. We estimate the impact of the number of competing stations in various driving-distance ranges around each station on prices. We find that station density has a negative effect on prices; the effect decreases with distance and is statistically significant up to six kilometers. This suggests that the retail gasoline market is local rather than national. 相似文献
2.
We show that business education/occupations have expanded and that technical education/occupations have contracted in the Czech Republic and Poland since 1990. We interpret these changes as an adjustment necessary for their transition to a market economy. We do not find the same pattern in Hungary, which we attribute to the earlier timing of its transition. We construct an aggregate model in which labour reallocates in response to changing demand structure. When calibrated with the Czech and Polish data, the model generates a large movement of workers with technical education and experience into business occupations in the early 1990s. The discounted sum of output loss due to the gap between the demand structure and the composition of existing human capital amounts to between 8 and 40 percent of 1990 GDP. 相似文献
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Lorraine Dearden Steven McIntosh Michal Myck & Anna Vignoles 《Bulletin of economic research》2002,54(3):249-274
This paper uses data from the 1991 sweep of the National Child Development Study (NCDS) and the 1998 Labour Force Survey (LFS) to provide a comprehensive analysis of the labour market returns to academic and vocational qualifications. The results show that the wage premia from academic qualifications are typically higher than from vocational qualifications. However, this gap is reduced somewhat, when we control for the amount of time taken to acquire different qualifications. This is particularly important for vocational courses, which generally take shorter time periods to complete. In the paper we also investigate how returns vary by gender, subsequent qualifications, and the natural ability of individuals. Finally, by comparing the NCDS results with those from the LFS, we estimate the bias that can result from not controlling for factors such as ability, family background and measurement error. The results reveal that the estimated returns in the NCDS equations controlling for ability, family background and measurement error are similar to the simple OLS estimates obtained with the LFS, which do not control for these factors. This suggests that the biases generally offset one another. 相似文献
5.
Michal Skorepa 《Applied economics letters》2017,24(19):1389-1392
Using Bayesian model averaging, we determine which fundamental pair-wise differences suggested by the literature on optimum currency areas give the best explanation of medium-term variability of bilateral real exchange rates. The intercept in the best specification is statistically insignificant, implying that for a hypothetical pair of economies for which the differences were zero, the bilateral real exchange rate would not move. Thus, the ‘non-fundamental’ element of the medium-term real exchange rate variability is, in our sample at least, negligible on average. In other words, floating exchange rate does not in itself imply, on average, more real exchange rate variability in the medium term than an exchange rate peg. 相似文献
6.
Our main goal is to re‐examine and extend certain results from the papers by Galluccio et al. and Pietersz and van Regenmortel. We establish several results providing alternate necessary and sufficient conditions for admissibility of a family of forward swaps, that is, the property that it is supported by a (positive) family of bonds associated with the underlying tenor structure. We also derive the generic expression for the joint dynamics of a family of forward swap rates under a single probability measure and we show that these dynamics are uniquely determined by a selection of volatility processes with respect to the set of driving martingales. 相似文献
7.
Mass tourism began in the Caribbean during the middle of the twentieth century. Unfortunately, increasing competition and a change in the motivation of tourists now force the authorities who manage these regions to introduce a new tourism offer that is not based directly on either the 3S (Sun, Sand, and Sea) or 3E (Entertainment, Excitement, Education) model. Hiking, trekking, and climbing, defined as mountaineering, might be one of these. This paper examines the potential for mountaineering in Cuba by verifying its accessibility for tourists. The assessment is based on a framework of true accessibility, which consists of two factors: (1) destination accessibility and (2) real access. Our results show that mountaineering in Cuba should be considered to be one of the key contributors to the development, prosperity, and well-being of all stakeholders, and especially for the communities outside the tourism enclaves. 相似文献
8.
This paper presents a PDE approach in a Markovian setting to hedge defaultable derivatives. The arbitrage price and the hedging strategy for an attainable contingent claim are described in terms of solutions of a pair of coupled PDEs. For some standard examples of defaultable claims, we provide explicit formulae for prices and hedging strategies. 相似文献
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A strong equilibrium is a pure Nash equilibrium which is resilient to deviations by coalitions. We define the strong price of anarchy (SPoA) to be the ratio of the worst strong equilibrium to the social optimum. Differently from the Price of Anarchy (defined as the ratio of the worst Nash Equilibrium to the social optimum), it quantifies the loss incurred from the lack of a central designer in settings that allow for coordination.We study the SPoA in two settings, namely job scheduling and network creation. In the job scheduling game we show that for unrelated machines the SPoA can be bounded as a function of the number of machines and the size of the coalition. For the network creation game we show that the SPoA is at most 2. In both cases we show that a strong equilibrium always exists, except for a well defined subset of network creation games. 相似文献