infonet-economy

Die Bedeutung des VR-Sekretärs wird unterschätzt. Dabei ist seine Aufgabe mit der Business Judgment Rule wichtiger und anspruchsvoller geworden. Vom VR-Sekretär wird nicht nur eine rasche und korrekte Protokollführung, sondern auch eine administrative Unterstützung des Verwaltungsrats verlangt. Übt er zusätzlich noch die Funktion eines Compliance Officer aus, hat er eine…

In this paper, we have applied spectral and cross spectral analysis techniques as an alternative approach to characterize the Tunisian business cycle and measure the degree of its international synchronization. As a robustness check, we have applied these techniques to the industrial production (overall and manufacturing IPI) as well as two synthetic indexes: a dynamic factor and a…

This paper empirically investigates the determinants of current accounts for a sample of 11 Central and East European Countries outside the Euro area. To this end we rely on the estimation of a panel VAR model with fixed effects over the period Q1 2005 to Q42014. Consistent with existing literature, we show that domestic GDP, the fiscal deficit, and the real effective exchange rate…

How does the market for corporate control reallocate firm ownership in response to adverse aggregate financial shocks? To answer this question, we develop a tractable model of mergers and acquisitions (M&As) where firms facing different degrees of financial constraints acquire ownership of illiquid domestic firms. We show that acquisitions by financially constrained acquirers, on…

This paper contributes the on-going debate on income inequality in advanced economies with a proposal aimed at reducing costly investment mistakes that are prevalent among middle-class households. The paper starts by describing how households should invest, compares it with what we know about how households do invest, and highlights discrepancies between the two (investment mistakes…

While there is considerable literature attempting to model current account, there are not many studies to forecast current account balance. This study gives a comprehensive way to model and predict current account deficit (CAD) by evaluating the forecasting performance of direct and indirect approach. At the disaggregated level, I use two variants to model current account components…

Are competitive mechanisms perceived as just sources of economic inequality? Perceptions of fairness violations can have severe economic consequences, as they may cause counterproductive behavior such as rulebook slowdowns or quality shading. To analyze fairness perceptions associated with competitive mechanisms, we run laboratory experiments where a single powerful buyer can trade…

Die Rendite der AHV sollte sich dem veränderten Produktionswachstum und der demografischen Entwicklung anpassen, die zweite Säule sollte sich strikt nach den Marktzinsen richten, schreibt Fabrizio Zilibotti.