ALBERT

All Library Books, journals and Electronic Records Telegrafenberg

X
feed icon rss

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Blackwell Publishing Ltd  (14,197)
  • 2000-2004  (14,197)
Collection
Publisher
Years
Year
  • 1
    Electronic Resource
    Electronic Resource
    Partial Delegation in a Model of Currency Crisis (2003)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper shows that, in a fixed exchange-rate system with an escape clause, delegating the decision on the magnitude of realignment to an inflation-averse central banker reduces the range of realignment costs for which the policy-maker necessarily devalues. Stressing the influence of devaluation expectations on currency crises, it is also shown that this strategy of delegation reduces the width of the multiple equilibria zone within which self-fulfilling crises occur, thus promoting further the exchange-rate system's stability. The higher the central banker's degree of inflation aversion, the greater is this reduction.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00180
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 2
    Electronic Resource
    Electronic Resource
    Testing for Temporal Asymmetry in the Price-Volume Relationship (2003)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents some evidence for the presence of temporal asymmetry in the price-volume relationship in the crude oil futures market. By using threshold models we show that there is bidirectional causality between volume and prices, whereas the conventional model that assumes symmetry can only detect unidirectional causality. The results also show that the price-volume relationship is asymmetric, in the sense that negative price and volume changes have stronger effects (on each other) than positive changes. Some explanations for asymmetry in the price-volume relationship are suggested.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00182
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 3
    Electronic Resource
    Electronic Resource
    A Note on the Most-Favoured-Customer Pricing Policy (2003)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper extends the retroactive most-favoured-customer pricing policy examined by Cooper (1986). He showed that the policy enabled both firms in a duopoly to offer higher prices and to enjoy higher profits. This paper introduces a variable into the most-favoured-customer pricing policy. Then, it shows that there is an equilibrium in which the duopolists can further increase their profits.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00184
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 4
    Electronic Resource
    Electronic Resource
    The Favourite-Longshot Bias, Bookmaker Margins and Insider Trading in a Variety of Betting Markets (2003)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper verifies the existence of the favourite-longshot bias in a variety of sports betting markets where odds are set by bookmakers, but the precise pattern of the bias is not identical. Evidence is found to support a central prediction of the Shin (1993) model, which asserts that bookmakers are impelled to create a bias in their odds because of the presence of insider traders: that margins increase with the number of competitors.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00174
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 5
    Electronic Resource
    Electronic Resource
    The Endowment Effect and the Role of Uncertainty (2003)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explains the endowment effect, whereby sellers generally demand considerably more for a good than buyers are prepared to pay, and related anomalies. Many decisions, including nominating buying or selling prices, involve uncertainty, and we assert that people experience negative psychological reactions to uncertainty. These reactions can affect a person's valuation of the various options, biasing the person's actions towards the status quo, thus producing the endowment effect. Our model also proposes positive or negative reactions to unlikely prospects, which are able to explain commonly observed behaviour in the presence of ambiguity.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00176
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 6
    Electronic Resource
    Electronic Resource
    Nash Equilibria in Pure Strategies (2003)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We consider an n-person non-zero-sum non-cooperative game in normal form, where the strategy sets are some closed intervals of the real line. It is shown that if the pay-off functions are continuous on the whole space and if for each pay-off function the smallest local maximum in the strategy variable is a global maximum, then the game possesses a pure strategy Nash equilibrium.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00178
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 7
    Electronic Resource
    Electronic Resource
    The Reverse Favourite–longshot Bias and Market Efficiency in Major League Baseball: An Update (2003)
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Racetrack and sports betting markets have been researched extensively with respect to the question of market efficiency. In contrast to the consistently observed favourite–longshot bias found in racetrack betting markets, it has been shown that gamblers in the market for Major League Baseball games reveal the opposite behaviour. This paper updates the previous study with ten years of additional data for the 1990–99 seasons. The strength of the reverse favourite–longshot bias is virtually identical to the original paper. The result suggests that, contrary to most reported inefficiencies in gambling markets, this bias appears to be permanent.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00165
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 8
    Electronic Resource
    Electronic Resource
    Multivariate Markov Switching Common Factor Models for the UK (2003)
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We estimate a model that incorporates two key features of business cycles, comovement among economic variables and switching between regimes of boom and slump, to quarterly UK data for the last four decades. A common factor, interpreted as a composite indicator of coincident variables, and estimates of turning points from one regime to the other, are extracted from the data by using the Kalman filter and maximum likelihood estimation. Both comovement and regime switching are found to be important features of the UK business cycle. The composite indicator produces a sensible representation of the cycle and the estimated turning points agree fairly well with independently determined chronologies. These estimates are sharper than those produced by a univariate Markov switching model of GDP alone. A fairly typical stylized fact of business cycles is confirmed by this model – recessions are steeper and shorter than recoveries.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00168
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 9
    Electronic Resource
    Electronic Resource
    The Interaction Between Efficiency Wage Theories and Labour Turnover Costs (2003)
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We develop a simple model to illustrate how the effects of turnover costs on wages can be reinforced by an efficiency wage effect. The insider–outsider theory explains why labour turnover costs allow the insiders to earn higher wages than outsiders. According to the efficiency wage theory, higher wages enhance the insiders’ productivity. Therefore, the costs of replacing an insider by a low–paid, low–productivity outsider are increased, which allows the insiders to raise their wages further. Again, higher wages increase insiders’ productivity, which allows them to earn still higher wages, and so on. Thus, the existence of a link between effort and wages can reinforce the effects of labour turnover costs on wages.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00170
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 10
    Electronic Resource
    Electronic Resource
    Wage Bargaining Versus Efficiency Wages: A Synthesis (2003)
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Bulletin of economic research 55 (2003), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We construct a model integrating the efficiency wage model of Shapiro–Stiglitz (1984) (SS), with an individual wage bargaining model in the Diamond–Mortensen–Pissarides (DMP) tradition where firms and workers form pairwise matches. We show that when workers may threaten to shirk on the job and there is individual wage bargaining, the wage is always higher and employment lower than in either the SS model, or the (appropriately modified) DMP model. When firms determine workers’ efforts unilaterally, efforts are set inefficiently low in the SS model. In the bargaining model, effort is higher, and is first best when the worker non–shirking constraint does not bind. The overall equilibrium allocation may then be more or less efficient than in the SS model, but is always less efficient than in a pure bargaining model with no moral hazard.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00159
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...