Strategy & Macroeconomic Policy eJournal最新文献

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Government as Landscape Designer: A Behavioral View of Industrial Policy 作为景观设计师的政府:产业政策的行为视角
Strategy & Macroeconomic Policy eJournal Pub Date : 2019-01-14 DOI: 10.2139/ssrn.3315456
Cha Li, Felipe A. Csaszar
{"title":"Government as Landscape Designer: A Behavioral View of Industrial Policy","authors":"Cha Li, Felipe A. Csaszar","doi":"10.2139/ssrn.3315456","DOIUrl":"https://doi.org/10.2139/ssrn.3315456","url":null,"abstract":"The strategic management literature has built rich and behaviorally plausible models of firms, yet the industrial policy literature has overlooked nuances in firm behavior. This paper bridges these...","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114562232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
Unemployment Effects of Mergers and Acquisitions: Empirical Approach 并购的失业效应:实证方法
Strategy & Macroeconomic Policy eJournal Pub Date : 2017-12-15 DOI: 10.2139/ssrn.3088690
Amamchukwu Okafor
{"title":"Unemployment Effects of Mergers and Acquisitions: Empirical Approach","authors":"Amamchukwu Okafor","doi":"10.2139/ssrn.3088690","DOIUrl":"https://doi.org/10.2139/ssrn.3088690","url":null,"abstract":"Mergers and acquisitions are strategic managerial tools that have gained importance in economic functions. Its increasing use by managers have made clearer and amplified its impact on many other economic variables. I used panel data on five European countries and the United States to analyse the impact of mergers and acquisitions on unemployment. The results show that the volume and value of transactions respectively increases and decreases unemployment. This means that the volume and transactions of mergers matter in opposite effect in terms of unemployment. I outlined the implication for policy therefore.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130758110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Housing, Multi-Level Governance and Economic Productivity 住房、多层次治理与经济生产力
Strategy & Macroeconomic Policy eJournal Pub Date : 2017-06-22 DOI: 10.18408/AHURI-5307501
J. Dodson, A. de Silva, T. Dalton, S. Sinclair
{"title":"Housing, Multi-Level Governance and Economic Productivity","authors":"J. Dodson, A. de Silva, T. Dalton, S. Sinclair","doi":"10.18408/AHURI-5307501","DOIUrl":"https://doi.org/10.18408/AHURI-5307501","url":null,"abstract":"This study investigated appropriate frameworks to better understand the way in which housing policy mechanisms contribute to economic productivity and growth. It reviewed the literature, key Federal Government policy statements and reports released over the past decade; analysed the mechanisms through which housing policy influences economic behaviour; and tested such frameworks to better comprehend these processes.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"2013 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114761895","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
NAFTA 2.0 – What Should Be Next? 北美自由贸易协定2.0 -下一步应该是什么?
Strategy & Macroeconomic Policy eJournal Pub Date : 2017-05-11 DOI: 10.2139/SSRN.2967014
Jonas Gamso, R. Grosse
{"title":"NAFTA 2.0 – What Should Be Next?","authors":"Jonas Gamso, R. Grosse","doi":"10.2139/SSRN.2967014","DOIUrl":"https://doi.org/10.2139/SSRN.2967014","url":null,"abstract":"The Trump Administration’s plan to renegotiate the North American Free Trade Agreement (NAFTA) has spurred renewed attention to the Agreement among scholars and analysts as well as in the media. Much of the commentary regarding the impacts of NAFTA on the United States has centered on the role of NAFTA-induced trade between the United States and Mexico. Trade-based analyses are clearly important and useful, but there are other, largely unstudied, ways by which NAFTA has impacted the US economy. In this article, we widen the scope of the debate by exploring the overall impact of NAFTA, with attention to trade, foreign direct investment (FDI), employment, immigration, technology, labor interests, and the environment. We then recommend policy changes, centering on updating the Agreement to bring it into line with more recent US trade agreements and with the realities of the current economic and technological landscape.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133003391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Should Governments Tax the Rich and Subsidize the Poor? An Empirical Study of Opinion in 60 Countries 政府应该对富人征税而补贴穷人吗?60个国家民意调查的实证研究
Strategy & Macroeconomic Policy eJournal Pub Date : 2016-11-24 DOI: 10.2139/SSRN.2875547
Robert W. McGee
{"title":"Should Governments Tax the Rich and Subsidize the Poor? An Empirical Study of Opinion in 60 Countries","authors":"Robert W. McGee","doi":"10.2139/SSRN.2875547","DOIUrl":"https://doi.org/10.2139/SSRN.2875547","url":null,"abstract":"The present study reports the findings of a survey conducted by the World Values Survey scientists in 60 countries on the question of whether governments should tax the rich and subsidize the poor. A 10-point Likert Scale was used to determine the extent of agreement or disagreement with the question. Results varied widely.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"243 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122341245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Screening in Contract Design: Evidence from the ACA Health Insurance Exchanges 契约设计中的筛选:来自ACA健康保险交易所的证据
Strategy & Macroeconomic Policy eJournal Pub Date : 2016-11-01 DOI: 10.2139/ssrn.2867542
M. Geruso, T. Layton, Dániel Prinz
{"title":"Screening in Contract Design: Evidence from the ACA Health Insurance Exchanges","authors":"M. Geruso, T. Layton, Dániel Prinz","doi":"10.2139/ssrn.2867542","DOIUrl":"https://doi.org/10.2139/ssrn.2867542","url":null,"abstract":"We study insurers' use of prescription drug formularies to screen consumers in the ACA Health Insurance exchanges. We begin by showing that exchange risk adjustment and reinsurance succeed in neutralizing selection incentives for most, but not all, consumer types. A minority of consumers, identifiable by demand for particular classes of prescription drugs, are predictably unprofitable. We then show that contract features relating to these drugs are distorted in a manner consistent with multidimensional screening. The empirical findings support a long theoretical literature examining how insurance contracts offered in equilibrium can fail to optimally trade off risk protection and moral hazard.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126823843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 80
The Impact of Patent Wars on Firm Strategy: Evidence from the Global Smartphone Industry 专利战对企业战略的影响:来自全球智能手机行业的证据
Strategy & Macroeconomic Policy eJournal Pub Date : 2016-09-26 DOI: 10.2139/ssrn.2340899
Yongwook Paik, Feng Zhu
{"title":"The Impact of Patent Wars on Firm Strategy: Evidence from the Global Smartphone Industry","authors":"Yongwook Paik, Feng Zhu","doi":"10.2139/ssrn.2340899","DOIUrl":"https://doi.org/10.2139/ssrn.2340899","url":null,"abstract":"Strategy scholars have documented in various empirical settings that firms seek and leverage stronger institutions to mitigate hazards and gain competitive advantage. In this paper, we argue that such “institution-seeking” behavior may not be confined to the pursuit of strong institutions: firms may also seek weak institutions to mitigate hazards. Using panel data from the global smartphone industry and recent patent wars among key industry rivals, we examine how smartphone vendors that are not directly involved in patent litigation strategically respond to increased litigation risks in this industry. We find that as patent wars intensify, smartphone vendors not involved in any litigation focus more of their business in markets with weaker intellectual property (IP) protection because of institutional arbitrage opportunities. This strategic response is more pronounced for vendors whose stocks of patents are small and whose home markets have weak-IP systems. Our study is the first to examine the relationship between heterogeneity in national patent systems and firms’ global strategies. It provides a more balanced view of firms’ institution-seeking behavior by documenting how they make strategic use of weaker institutions.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117118380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 42
Surviving Troubled Times: Endogenous Shocks and Exchange Relationships in an Interbank Market 渡过困难时期:银行间市场的内生冲击和汇率关系
Strategy & Macroeconomic Policy eJournal Pub Date : 2016-06-25 DOI: 10.2139/ssrn.2815847
P. Zappa, D. Vu
{"title":"Surviving Troubled Times: Endogenous Shocks and Exchange Relationships in an Interbank Market","authors":"P. Zappa, D. Vu","doi":"10.2139/ssrn.2815847","DOIUrl":"https://doi.org/10.2139/ssrn.2815847","url":null,"abstract":"We examine how endogenous shocks affect market exchange relationships. We address two questions: Are organizations more likely to engage in some relationships than in others? Are they more likely to engage in some relationships for protecting themselves from shocks and in others for adjusting to them? Examining an online platform for interbank money exchange during the periods preceding and following 2008 Lehman Brothers bankruptcy, we document that the reaction to the shock consists of distinct and time-ordered chances in exchange relationships. The tendency to perpetuate past exchange relationships is observed already during the anticipatory phase of the shock and then becomes steadily. In the phase following the shock, banks become more likely to trade in hierarchical subgroups, while centralization and reciprocity decrease.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114458142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Expected Currency Returns and Volatility Risk Premia 预期货币回报和波动风险溢价
Strategy & Macroeconomic Policy eJournal Pub Date : 2016-06-10 DOI: 10.2139/ssrn.2809141
José Renato Haas Ornelas
{"title":"Expected Currency Returns and Volatility Risk Premia","authors":"José Renato Haas Ornelas","doi":"10.2139/ssrn.2809141","DOIUrl":"https://doi.org/10.2139/ssrn.2809141","url":null,"abstract":"This paper addresses the predictive ability of currency volatility risk premium - the difference between an implied and a realized volatility - over US dollar exchange rates using a time-series perspective. The intuition is that, when risk aversion sentiment increases, the market quickly discounts the currency, and later this discount is “accrued”, leading to a future currency appreciation. Based on two different samples with a diversified set of 32 currencies, I document a positive relationship between currency volatility risk premium and future currency returns. Results remain robust even after controlling for traditional fundamental predictors like Purchase Power Parity and interest rate differential","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114282428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Over-the-Top Content and Content Regulation 过度内容和内容监管
Strategy & Macroeconomic Policy eJournal Pub Date : 2015-12-25 DOI: 10.2139/ssrn.2708278
Roberto D. Taufick
{"title":"Over-the-Top Content and Content Regulation","authors":"Roberto D. Taufick","doi":"10.2139/ssrn.2708278","DOIUrl":"https://doi.org/10.2139/ssrn.2708278","url":null,"abstract":"Unlike pay-tv companies, companies that operate over the top of the provision of Internet services can instantly operate in multiple countries without the grant of franchises by any particular country or setting foot anywhere outside a small office somewhere abroad -- probably in California. And they do not even need be large or have a clientele established in that territory: according to the end-to-end network neutrality principle they can deliver content from anywhere to anywhere one asks for it. Most OTTs are still start-ups today and will inevitably fail quite soon. Few will succeed, but only because they are regulation-free at their early stages. In this article I will try to answer why and when regulation of VOD OTTs can be detrimental to competition and to innovation and also explain why minimally regulating edge providers would require a global governance of the Internet instead of local enforcement.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123543774","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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