Showing 1 - 10 of 45
The price-aggressive discount format, popularized by chains such as Aldi and Lidl, is very successful in most Western economies. Its success is a major source of concern for traditional supermarkets. Discounters not only have a direct effect on supermarkets’ market shares, they also exert...
Persistent link: https://www.econbiz.de/10005114461
ownership of reputation signals by prestigious banks rendered them able and willing to monitor government borrowing. Monitoring … prestigious bankers, bondholders’ committees had neither the tools nor the prestige required for effectively dealing with …
Persistent link: https://www.econbiz.de/10008554223
In several recent papers macroeconomic policy has been modelled in the context of a game of incomplete information. A central result of the work by Backus and Driffill and by Barro is that the uncertainty may provide an incentive for the government to maintain a socially efficient policy of zero...
Persistent link: https://www.econbiz.de/10005504603
The paper emphasizes the distinction between the purely fiscal reasons for fiscal policy coordination under EMU (given a credible low-inflation policy by the ECB), and the spillover effects of an uncoordinated fiscal policy on monetary policy. The worst scenario is where an independent ECB sets...
Persistent link: https://www.econbiz.de/10005497718
expectations-augmented Phillips curve and its reputation for toughness in fighting inflation. In an environment with an unknown …
Persistent link: https://www.econbiz.de/10005497983
social reputation or self-respect. The presence of rewards or punishments creates doubt as to the true motive for which good …
Persistent link: https://www.econbiz.de/10005498047
This paper provides evidence on the importance of reputation, intended as beliefs buyers hold about seller …'s reliability, in the context of the Kenyan rose export sector. A model of reputation and relational contracting is developed and …
Persistent link: https://www.econbiz.de/10011083485
We study how career concerns affect the dynamics of incentives in a multi-period contract, when the agent’s productivity is a stochastic function of his past productivity and investment. We show that incentives are stronger and performance is higher when the contract approaches its expiry...
Persistent link: https://www.econbiz.de/10011083903
experiment exploring the relationship between reputation and entry in procurement. We implement a repeated procurement game with …
Persistent link: https://www.econbiz.de/10011083951
central bank reputation and transparency. Monetary policy alternates between periods of active inflation stabilization and … pessimistic about future monetary policy and uncertainty gradually rises. Reputation determines the speed with which agents … found to benefit from strong reputation and large flexibility in responding to inflationary shocks. Increasing transparency …
Persistent link: https://www.econbiz.de/10011084074