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Time-consistent Fiscal Policy under Heterogeneity: Conflicting or Common Interests?

Angelopoulos, Konstantinos; Malley, Jim; … - CESifo - 2011

This paper studies the aggregate and distributional implications of Markov-perfect tax-spending policy in a neoclassical growth model with capitalists and workers. Focusing on the long run, our main findings are: (i) it is optimal for a benevolent government, which cares equally about its...

Persistent link: https://www.econbiz.de/10009020092

Manufacturers Mergers and Product Variety in Vertically Related Markets

Milliou, Chrysovalantou; Sandonis, Joel - CESifo - 2014

a merger among them. We show that when manufacturers distribute their products through multi-product retailers, a … manufacturers merger, although it leads to an increase in the wholesale prices, it can enhance product variety. The merger generated … products to consumers, a merger never results into more product variety. Still, both in the presence and in the absence of …

Persistent link: https://www.econbiz.de/10010886105

Upstream Horizontal Mergers and Efficiency Gains

Milliou, Chrysovalantou; Pavlou, Apostolis - CESifo - 2009

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … and decreases wholesale prices when downstream competition is not too strong. Examining whether the merger’s potential …

Persistent link: https://www.econbiz.de/10005010147

Mergers, Investment Decisions and Internal Organisation

Banal-Estañol, Albert; Macho-Stadler, Ines; … - CESifo - 2003

merger will be effectively realised. Moreover, the paper offers a possible explanation for merger failures. …

Persistent link: https://www.econbiz.de/10005766261

Battle for Climate and Scarcity Rents: Beyond the Linear-Quadratic Case

Kagan, Mark; Ploeg, Frederick Van der; Withagen, Cees A. - CESifo - 2014

The nature of oil demand influences the oil extraction rate and hence has implications for both the timing of oil exhaustion and optimal climate policy. We analyse what role oil demand specification plays in strategic interactions b between an oil-importing country producing final goods and...

Persistent link: https://www.econbiz.de/10011264740

The Paradoxes of Revenge in Conflicts

Amegashie, J. Atsu; Runkel, Marco - CESifo - 2008

We consider a differential game of a conflict between two factions who both have a desire to exact revenge. We show that, in contrast to conventional wisdom, the desire for revenge need not lead to escalation of conflicts. Surprisingly, in the open-loop equilibrium, the weaker faction exerts a...

Persistent link: https://www.econbiz.de/10005094263

Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights

Ploeg, Frederick Van der - CESifo - 2010

For a country fractionalized in competing factions, each owning part of the stock of natural exhaustible resources, or with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We allow property rights to improve as the country...

Persistent link: https://www.econbiz.de/10008583632

UK Natural Gas: Gas-Specific or Oil Driven Pricing?

Asche, Frank; Oglend, Atle; Osmundsen, Petter - CESifo - 2013

electricity is low and net-availability and transport capacity high. Accounting for periods of gas specific pricing is relevant … prevalent in recent years, i.e., we find no evidence of underinvestment in capacity after deregulation. …

Persistent link: https://www.econbiz.de/10010721610

Direct to Consumer Advertising in Pharmaceutical Markets

Brekke, Kurt R.; Kuhn, Michael - CESifo - 2005

We study effects of direct-to-consumer advertising (DTCA) in the prescription drug market. There are two pharmaceutical firms providing horizontally differentiated (branded) drugs. Patients differ in their susceptibility to the drugs. If DTCA is allowed, this can be employed to induce...

Persistent link: https://www.econbiz.de/10005406241

A Model of Strategic Targeted Advertising

Galeotti, Andrea; Moraga-González, José Luis - CESifo - 2004

We study a simultaneous move game of targeted advertising and pricing in a market with various consumer segments. In this setting we explore the implications of market segmentation on firm competitiveness. If firms are unable to target their ads on different consumer segments, a unique...

Persistent link: https://www.econbiz.de/10005406285