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State Ownership and Control in the Czech Republic
Kocenda, Evžen; Hanousek, Jan - CESifo - 2009
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade … (1995–2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate … pyramid. While pyramidal control was not fully utilized, the golden share in the hands of the state substantially enhanced its …
Persistent link: https://www.econbiz.de/10008533985
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Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh K.; Mohnen, Pierre; Palm, Franz; Loeff, … - CESifo - 2014
constraints faced, propensity to innovate, and R&D intensity are not uniform across firm characteristics. A new “control function …
Persistent link: https://www.econbiz.de/10010743448
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Information, Uncertainty, and Subjective Entitlements in Bargaining
Karagözoglu, Emin; Riedl, Arno - CESifo - 2010
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10008511615
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The Business Environment in the Transition
Carlin, Wendy; Schaffer, Mark - CESifo - 2012
educated labour force, provision of administrative and judicial services, the control of corruption and crime, and the …
Persistent link: https://www.econbiz.de/10010877887
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Divide and Privatize: Firm Break-up and Performance
Kocenda, Evžen; Hanousek, Jan - CESifo - 2011
We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996–2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...
Persistent link: https://www.econbiz.de/10009024846
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How Strongly Did the 2007/08 Oil Price Hike Contribute to the Subsequent Recession?
Carstensen, Kai; Elstner, Steffen; Paula, Georg - CESifo - 2011
What were the economic consequences of the 2007/08 oil price hike for Germany? In this paper we use a structural vector autoregressive model to study the effects of oil price changes driven by different supply and demand shocks on the German economy. We find that a higher oil bill always stifles...
Persistent link: https://www.econbiz.de/10008853845
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The Exchange Rate Susceptibility of Some European Core Industries and the Currency Union
Leuwer, David; Süssmuth, Bernd - CESifo - 2013
This paper investigates the relationship between real exchange rate changes and the German, French and UK automobile and mechanical engineering sector. In stylized models, exports decline whenever the domestic currency appreciates and vice versa. Strategic firm behavior, however, can obscure the...
Persistent link: https://www.econbiz.de/10010660136
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Happiness as a Driver of Risk-Avoiding Behavior
Goudie, Robert J. B.; Mukherjee, Sach; Neve, Jan-Emmanuel De - CESifo - 2011
Understanding the reasons why individuals take risks, particularly unnecessary risks, remains an important question in economics. We provide the first evidence of a powerful connection between happiness and risk-avoidance. Using data on 300,000 Americans, we demonstrate that happier individuals...
Persistent link: https://www.econbiz.de/10009020100
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Are there Differences in the Effectiveness of Quantitative Easing at the Zero-Lower-Bound in Japan over Time?
Michaelis, Henrike; Watzka, Sebastian - CESifo - 2014
Using a time-varying parameter vector autoregression (TVP-VAR) with a new sign restriction framework, we study the changing effectiveness of the Bank of Japan’s Quantitative Easing policies over time. We analyse the Zero-Interest Rate Policy from 1999 to 2000, the Quantitative Easing Policy...
Persistent link: https://www.econbiz.de/10010812488
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Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model
Wdowinski, Piotr - CESifo - 2005
In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...
Persistent link: https://www.econbiz.de/10005766248