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Displaying results 1 to 14 of 14.

  1. Holiday price regidity and cost of price adjustment
    Published: 2009
    Publisher:  Bar-Ilan Univ., Dep. of Economics, Ramat-Gan

    The Thanksgiving-Christmas holiday period is a major sales period for US retailers. Due to higher store traffic, tasks such as restocking shelves, handling customers’ questions and inquiries, running cash registers, cleaning, and bagging, become more... more

    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 205 (2009,3)
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    The Thanksgiving-Christmas holiday period is a major sales period for US retailers. Due to higher store traffic, tasks such as restocking shelves, handling customers’ questions and inquiries, running cash registers, cleaning, and bagging, become more urgent during holidays. As a result, the holiday-period opportunity cost of price adjustment may increase dramatically for retail stores, which should lead to greater price rigidity during holidays. We test this prediction using weekly retail scanner price data from a major Midwestern supermarket chain. We find that indeed, prices are more rigid during holiday periods than non-holiday periods. For example, the econometric model we estimate suggests that the probability of a price change is lower during holiday periods, even after accounting for cost changes. Moreover, we find that the probability of a price change increases with the size of the cost change, during both, the holiday as well as non-holiday periods. We argue that these findings are best explained by higher price adjustment costs (menu cost) the retailers face during the holiday periods. Our data provides a natural experiment for studying variation in price rigidity because most aspects of market environment such as market structure, industry concentration, the nature of long-term relationships, contractual arrangements, etc., do not vary between holiday and nonholiday periods. We, therefore, are able to rule out these commonly used alternative explanations for the price rigidity, and conclude that the menu cost theory offers the best explanation for the holiday period price rigidity. -- Price Rigidity ; Cost of Price Adjustment ; Menu Cost ; Holiday Period ; Asymmetric Price Adjustment ; Monetary Policy

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/96091
    Series: Working papers / Bar-Ilan University, Department of Economics ; 2009,03
    Subjects: Preisrigidität; Anpassungskosten; Lebensmitteleinzelhandel; Lebensmittel; Zeit; USA
    Scope: Online-Ressource (61 S.)
  2. Regional infrastructure and firm investment. theory and empirical evidence for Italy
    Published: 2009
    Publisher:  Queen Mary, Univ. of London, Dep. of Economics, London

    We model the channels through which public expenditure on infrastructure influences firm value and shapes its investment decisions via both adjustment costs and marginal profitability of capital. We test these hypotheses by using a large panel of... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 217 (639)
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    We model the channels through which public expenditure on infrastructure influences firm value and shapes its investment decisions via both adjustment costs and marginal profitability of capital. We test these hypotheses by using a large panel of Italian firms. Empirical results show that infrastructure interacts with revenues and costs in shaping firm's profitability of capital and influences its adjustment costs. Finally we find that infrastructure expenditure contributes to reduce the economic gap between the North and the South of Italy. These effects vary across regions and sectors. -- Regional infrastructure ; Firm's value ; Corporate investment

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/55161
    Series: Working paper series / Department of Economics, Queen Mary, University of London ; 639
    Subjects: Infrastrukturinvestition; Regionalentwicklung; Geschäftswert; Investition; Anpassungskosten; Räumliche Verteilung; Italien
    Scope: Online-Ressource (PDF-Datei: 34 S.), graph. Darst.
  3. Mind the (approximation) gap
    a robustness analysis
    Published: 2009
    Publisher:  Federal Research Bank of Kansas City, Research Division, Kansas City, Mo.

    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Keine Speicherung
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working papers / Federal Research Bank of Kansas City, Economic Research Department ; 09,02
    Subjects: Anpassungskosten; Personalbestand; Kapazitätsauslastung; Schock; Dynamische Optimierung; Wissenschaftliche Methode; Theorie
    Scope: Online-Ressource (18 S.)
  4. Fiscal competition for imperfectly-mobile labor and capital
    a comparative dynamic analysis
    Published: 2009
    Publisher:  CESifo, München

    Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal... more

    Staats- und Universitätsbibliothek Bremen
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63 (2808)
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    Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive resources. The intertemporal adjustments for both resources depend on complementarity/substitutability in production and the adjustment cost technologies for each, implying that the evaluation of the fiscal treatment of one resource must account for the simultaneous adjustment of both. -- fiscal competition ; labor mobility ; capital mobility ; comparative dynamics

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/30607
    Series: Array ; 2808
    Subjects: Kommunale Finanzpolitik; Institutioneller Wettbewerb; Steuerwettbewerb; Arbeitsmobilität; Kapitalmobilität; Regionaler Finanzsektor; Anpassungskosten; Dynamische Wirtschaftstheorie; Theorie
    Scope: Online-Ressource ( 33 S.), graph. Darst.
    Notes:

    Parallel als Druckausg. erschienen

  5. Fiscal competition for imperfectly-mobile labor and capital
    a comparative dynamic analysis
    Published: 2009
    Publisher:  Forschungsinst. zur Zukunft der Arbeit, Bonn

    Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4 (4463)
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    Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive resources. The intertemporal adjustments for both resources depend on complementarity/substitutability in production and the adjustment cost technologies for each, implying that the evaluation of the fiscal treatment of one resource must account for the simultaneous adjustment of both. -- Fiscal competition ; labor mobility ; capital mobility ; comparative dynamics

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/35993
    Series: Discussion paper series / Forschungsinstitut zur Zukunft der Arbeit ; 4463
    Subjects: Kommunale Finanzpolitik; Institutioneller Wettbewerb; Steuerwettbewerb; Arbeitsmobilität; Kapitalmobilität; Region; Anpassungskosten; Dynamische Wirtschaftstheorie; Theorie
    Scope: Online-Ressource (33 S.)
  6. Bounds on elasticities with optimization frictions
    a synthesis of micro and macro evidence on labor supply
    Author: Chetty, Raj
    Published: 2009

    "I derive bounds on price elasticities in a dynamic model that is mis-specified due to optimization frictions such as adjustment costs or inattention. The bounds are a function of the observed effect of a price change on demand, the size of the... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 1 (15616)
    Unlimited inter-library loan, copies and loan

     

    "I derive bounds on price elasticities in a dynamic model that is mis-specified due to optimization frictions such as adjustment costs or inattention. The bounds are a function of the observed effect of a price change on demand, the size of the price change, and the degree of frictions. I measure the degree of frictions by the utility losses agents tolerate to make choices that deviate from the frictionless optimum. I apply these bounds to the literature on taxation and labor supply, allowing for frictions of 1% of consumption in choosing labor supply. Such small frictions reconcile the difference between micro and macro elasticities, extensive and intensive margin elasticities, and several other disparate findings. Pooling estimates from twenty existing studies yields bounds on the intensive margin labor supply elasticity of (0.47,0.54)"--National Bureau of Economic Research web site

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: NBER working paper series ; 15616
    Subjects: Nachfrage; Preiselastizität; Arbeitsangebot; Nachfrage; Elastizität; Anpassungskosten; Lohnsteuer; Theorie
    Scope: 49, [13] S.
    Notes:

    Parallel als Online-Ausg. erschienen

  7. Asset pricing in a production economy with Chew–Dekel preferences
    Published: 2009
    Publisher:  Dép. de Sciences Economiques, Univ. de Montréal, Montréal

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 33 (2009,9)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 1866/3994
    Series: Cahier / Département de Sciences Économiques, Université de Montréal ; 2009,09
    Subjects: Kapitaleinkommen; Allgemeines Gleichgewicht; Risikopräferenz; Kapital; Anpassungskosten; Theorie
    Scope: Online-Ressource (45 S., 458,82 Kb), graph. Darst.
  8. "Mitigation, adaptation, suffering"
    in search of the right mix in the face of climate change
    Published: 2009
    Publisher:  CORE, Louvain-la-Neuve

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 159 (2009,54)
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    Language: English
    Media type: Book
    Format: Print
    Series: CORE discussion paper ; 2009,54
    Subjects: Klimaschutz; Policy-Mix; Umweltkosten; Anpassungskosten; Kosten-Nutzen-Analyse; Theorie
    Scope: 16 S., graph. Darst.
  9. Hong Kong consumer prices are flexible
    Published: 2009
    Publisher:  Hong Kong Inst. for Monetary Research, Hong Kong

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: HKIMR working paper ; 2009,05
    Subjects: Verbraucherpreisindex; Preisniveau; Rationale Erwartung; Anpassungskosten; Currency-Board-System; Hongkong
    Scope: Online-Ressource (35 S., 280,65 Kb), graph. Darst.
  10. A cooperative approach to sequencing and connection problems
    Published: 2009
    Publisher:  Tilburg Univ., Tilburg

    Universitätsbibliothek Braunschweig
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 181 (240)
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Dissertation
    Format: Online
    ISBN: 9789056682415
    Other identifier:
    Series: Dissertation series / Center for Economic Research, Tilburg University ; 240
    Subjects: Anpassungskosten; Extensives Spiel; Agentenbasierte Modellierung; Transferierbarer Nutzen; Theorie
    Scope: Online-Ressource (viii, 143 S.), graph. Darst.
    Notes:

    Zsfassung in niederl. Sprache

    Zugl.: Tilburg, Univ., Diss., 2009

  11. Climate change
    impact on agriculture and costs of adaption
    Published: 2009
    Publisher:  Internat. Food Policy Research Inst., Washington, DC

    The Challenge The unimpeded growth of greenhouse gas emissions is raising the earth's temperature. The consequences include melting glaciers, more precipitation, more and more extreme weather events, and shifting seasons. The accelerating pace of... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    C 260399
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    The Challenge The unimpeded growth of greenhouse gas emissions is raising the earth's temperature. The consequences include melting glaciers, more precipitation, more and more extreme weather events, and shifting seasons. The accelerating pace of climate change, combined with global population and income growth, threatens food security everywhere. Agriculture is extremely vulnerable to climate change. Higher temperatures eventually reduce yields of desirable crops while encouraging weed and pest proliferation. Changes in precipitation patterns increase the likelihood of short-run crop failures and long-run production declines. Although there will be gains in some crops in some regions of the world, the overall impacts of climate change on agriculture are expected to be negative, threatening global food security. Populations in the developing world, which are already vulnerable and food insecure, are likely to be the most seriously affected. In 2005, nearly half of the economically active population in developing countries--2.5 billion people--relied on agriculture for its livelihood. Today, 75 percent of the world's poor live in rural areas. This Food Policy Report presents research results that quantify the climate-change impacts mentioned above, assesses the consequences for food security, and estimates the investments that would offset the negative consequences for human well-being. This analysis brings together, for the first time, detailed modeling of crop growth under climate change with insights from an extremely detailed global agriculture model, using two climate scenarios to simulate future climate. The results of the analysis suggest that agriculture and human well-being will be negatively affected by climate change: In developing countries, climate change will cause yield declines for the most important crops. South Asia will be particularly hard hit. Climate change will have varying effects on irrigated yields across regions, but irrigated yields for all crops in South Asia will experience large declines. Climate change will result in additional price increases for the most important agricultural crops-rice, wheat, maize, and soybeans. Higher feed prices will result in higher meat prices. As a result, climate change will reduce the growth in meat consumption slightly and cause a more substantial fall in cereals consumption. Calorie availability in 2050 will not only be lower than in the no-climate-change scenario--it will actually decline relative to 2000 levels throughout the developing world. By 2050, the decline in calorie availability will increase child malnutrition by 20 percent relative to a world with no climate change. Climate change will eliminate much of the improvement in child malnourishment levels that would occur with no climate change. Thus, aggressive agricultural productivity investments of US$7.1-7.3 billion are needed to raise calorie consumption enough to offset the negative impacts of climate change on the health and well-being of children. Recommendations The results of this analysis suggest the following policy and program recommendations. 1. Design and implement good overall development policies and programs. Given the current uncertainty about location-specific effects of climate change, good development policies and programs are also the best climate-change adaptation investments

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    ISBN: 9780896295353
    Series: Food policy report
    Subjects: Klimawandel; Anpassungskosten; Agrarproduktion; Agrartechnik; Produktivität; Welt; Climatic changes; Agriculture
    Scope: IX, 19 S., graph. Darst., Kt.
  12. Time-varying (S; s) band models
    empirical properties and interpretation
    Published: Jan. 2009
    Publisher:  Banque de France, Paris

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Nicht speichern
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Document de travail / Banque de France ; 231
    Subjects: Anpassungskosten; Preisniveau; Unvollkommener Markt; Modellierung; Mikrofundierung; Theorie
    Scope: Online-Ressource (PDF-Datei: 45, [1] S.), graph. Darst.
    Notes:

    Zsfassung in franz. Sprache

  13. "Mitigation, adaptation, suffering"
    in search of the right mix in the face of climate change
    Published: 2009
    Publisher:  CESifo, München

    The usually assumed two categories of costs involved in climate change policy analysis, namely abatement and damage costs, hide the presence of a third category, namely adaptation costs. This dodges the determination of an appropriate level for them.... more

    Staats- und Universitätsbibliothek Bremen
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63 (2781)
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    The usually assumed two categories of costs involved in climate change policy analysis, namely abatement and damage costs, hide the presence of a third category, namely adaptation costs. This dodges the determination of an appropriate level for them. Including adaptation costs explicitly in the total environmental cost function allows one to characterize the optimal (cost minimizing) balance between the three categories, in statics as well as in dynamics. Implications are derived for cost benefit analysis of adaptation expenditures.

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/30439
    Series: Array ; 2781
    Subjects: Klimaschutz; Policy-Mix; Umweltkosten; Anpassungskosten; Kosten-Nutzen-Analyse; Theorie
    Scope: Online-Ressource ( 15 S.), graph. Darst.
    Notes:

    Parallel als Druckausg. erschienen

  14. Why do firms use fixed-term contracts?
    Published: 2009
    Publisher:  Forschungsinst. zur Zukunft der Arbeit, Bonn

    Temporary forms of employment account for a variable but never trivial share of total employment in both the U.S. and in Europe. In this article we look at how one specific form of temporary employment - employment with fixed-term contracts - fits... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4 (4380)
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    Temporary forms of employment account for a variable but never trivial share of total employment in both the U.S. and in Europe. In this article we look at how one specific form of temporary employment - employment with fixed-term contracts - fits into employers' hiring policies. We find that human capital variables (schooling, skills and employer-provided training) as measured at the levels of the worker and the workplace are important determinants of the employers' decisions to hire with fixed-term contracts and to promote temporary workers to permanent positions. Those employers that hire more with fixed-term contracts are also those that are more likely to offer a permanent position to their newly-hired temporary employees. Our results indicate that fixed-term contracts are used as mechanisms for screening workers for permanent positions. -- Fixed-term contracts ; adjustment costs ; labor demand

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/35968
    Series: Discussion paper series / Forschungsinstitut zur Zukunft der Arbeit ; 4380
    Subjects: Befristete Beschäftigung; Arbeitsnachfrage; Humankapital; Anpassungskosten; Theorie; Portugal
    Scope: Online-Ressource (29 S.)