Strategy & Macroeconomic Policy eJournal最新文献_第3页

Not So Disconnected: Exchange Rates and the Capital Stock 并非如此脱节:汇率与资本存量

Strategy & Macroeconomic Policy eJournal Pub Date : 2015-07-22 DOI: 10.2139/ssrn.2611846

T. Hassan, T. Mertens, Tony Zhang

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引用次数: 21

The Sharing Economy and Consumer Protection Regulation: The Case for Policy Change 共享经济与消费者保护法规:政策变革的案例

Strategy & Macroeconomic Policy eJournal Pub Date : 2015-05-15 DOI: 10.2139/SSRN.2535345

C. Koopman, M. Mitchell, Adam Thierer

{"title":"The Sharing Economy and Consumer Protection Regulation: The Case for Policy Change","authors":"C. Koopman, M. Mitchell, Adam Thierer","doi":"10.2139/SSRN.2535345","DOIUrl":"https://doi.org/10.2139/SSRN.2535345","url":null,"abstract":"The rise of the sharing economy has changed how many Americans commute, shop, vacation, and borrow. It has also disrupted long-established industries, from taxis to hotels, and has confounded policymakers. In particular, regulators are trying to determine how to apply many of the traditional “consumer protection” regulations to these new and innovative firms. The key contribution of the sharing economy, however, is that it has overcome market imperfections without recourse to traditional forms of regulation. Continued application of these outmoded regulatory regimes is likely to harm consumers. We argue that the Internet, and the rapid growth of the sharing economy, alleviates the need for much of this top-down regulation, with these recent innovations likely doing a much better job of serving consumer needs. When market circumstances change dramatically — or when new technology or competition alleviates the need for regulation — then public policy should evolve and adapt to accommodate these realities. This paper concludes with some proposals for further research in this area, and a call for a more informed regulatory approach that accounts for the innovations of the sharing economy.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117225299","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: 300

Trade Secrets Law and Mobility: Evidence from 'Inevitable Disclosure' 商业秘密法与流动性:来自“不可避免披露”的证据

Strategy & Macroeconomic Policy eJournal Pub Date : 2015-02-14 DOI: 10.2139/ssrn.1986775

I. Png, S. Samila

{"title":"Trade Secrets Law and Mobility: Evidence from 'Inevitable Disclosure'","authors":"I. Png, S. Samila","doi":"10.2139/ssrn.1986775","DOIUrl":"https://doi.org/10.2139/ssrn.1986775","url":null,"abstract":"Professional mobility has profound importance for firm strategy, innovation, and productivity. Prior work on legal constraints on mobility has focused on non-compete covenants and patents. Here, we investigate the impact of the doctrine of inevitable disclosure in U.S. state-level trade secrets law on mobility. We find that state court rulings against inevitable disclosure are associated with mobility of university-educated workers being 9.7 percent higher and mobility of less educated workers being 3.6 percent lower. On the other hand, rulings in favor of inevitable disclosure are associated with 6.9 percent less mobility for university-educated workers and 8.8 percent less mobility for other workers. The disparity in the effects on mobility is consistent with degree-qualified workers having relatively more bargaining power vis-a-vis employers than less-educated workers. We further find that the results are stronger in states that enforce non-compete covenants weakly and among employees in managerial and sales positions. Our results have implications for the degree of knowledge spillovers between firms, and thus firm strategy and ultimately, the overall economy-wide rate of innovation and economic growth.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130342415","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

Public Pension Accounting Rules and Economic Outcomes 公共养老金会计准则和经济结果

Strategy & Macroeconomic Policy eJournal Pub Date : 2015-01-01 DOI: 10.2139/ssrn.2199067

J. Naughton, R. Petacchi, Joseph P. Weber

引用次数: 44

The Borderlines between the Concept of Tax Avoidance and the Other Similar Concepts 避税概念与其他类似概念的界限

Strategy & Macroeconomic Policy eJournal Pub Date : 2014-09-30 DOI: 10.2139/ssrn.2503436

Edvinas Lenkauskas

引用次数: 2

Assessing Interdependence Among Countries' Fundamentals and Its Implications for Exchange Rate Misalignment Estimates: An Empirical Exercise Based on GVAR 评估各国基本面之间的相互依存关系及其对汇率失调估计的影响:基于GVAR的实证研究

Strategy & Macroeconomic Policy eJournal Pub Date : 2014-07-10 DOI: 10.2139/ssrn.2364508

Emerson Fernandes Marçal, B. Zimmermann, Diogo de Prince, Giovanni Tondin Merlin

{"title":"Assessing Interdependence Among Countries' Fundamentals and Its Implications for Exchange Rate Misalignment Estimates: An Empirical Exercise Based on GVAR","authors":"Emerson Fernandes Marçal, B. Zimmermann, Diogo de Prince, Giovanni Tondin Merlin","doi":"10.2139/ssrn.2364508","DOIUrl":"https://doi.org/10.2139/ssrn.2364508","url":null,"abstract":"Exchange rates are important macroeconomic prices and changes in these rates a ect economic activity, prices, interest rates, and trade ows. Methodologies have been developed in empirical exchange rate misalignment studies to evaluate whether a real e ective exchange is overvalued or undervalued. There is a vast body of literature on the determinants of long-term real exchange rates and on empirical strategies to implement the equilibrium norms obtained from theoretical models. This study seeks to contribute to this literature by showing that the global vector autoregressions model (GVAR) proposed by Pesaran and co-authors can add relevant information to the literature on measuring exchange rate misalignment. Our empirical exercise suggests that the estimate exchange rate misalignment obtained from GVAR can be quite di erent to that using the traditional cointegrated time series techniques, which treat countries as detached entities. The di erences between the two approaches are more pronounced for small and developing countries. Our results also suggest a strong interdependence among eurozone countries, as expected","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117296247","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: 3

Gender and the Ethics of Tax Evasion: An Empirical Study of 82 Countries 性别与逃税伦理:基于82个国家的实证研究

Strategy & Macroeconomic Policy eJournal Pub Date : 2014-04-14 DOI: 10.2139/SSRN.2424893

Robert W. McGee

引用次数: 16

The Financial Impact of Fed Policy Statements and Chairman Sentiment: The Case of Gold and Silver Markets 美联储政策声明和主席情绪的金融影响:以黄金和白银市场为例

Strategy & Macroeconomic Policy eJournal Pub Date : 2013-06-10 DOI: 10.2139/ssrn.2278239

K. Thórarinsson, Arman Eshraghi

引用次数: 4

Regulation of Business in the USA: Talking Points 美国的商业监管:谈话要点

Strategy & Macroeconomic Policy eJournal Pub Date : 2013-05-13 DOI: 10.2139/SSRN.2264526

Robert W. McGee

引用次数: 0

Beggar-Thy-Neighbor Effects of Currency Undervaluation: Is China the Tip of the Iceberg? 货币低估的以邻为壑效应:中国是冰山一角吗?

Strategy & Macroeconomic Policy eJournal Pub Date : 2012-12-17 DOI: 10.2139/ssrn.2190066

Samba Mbaye

{"title":"Beggar-Thy-Neighbor Effects of Currency Undervaluation: Is China the Tip of the Iceberg?","authors":"Samba Mbaye","doi":"10.2139/ssrn.2190066","DOIUrl":"https://doi.org/10.2139/ssrn.2190066","url":null,"abstract":"This paper examines empirically one of the most popular views in international economics, yet barely tested: undervaluation of the currency is a “beggar-thy-neighbor” policy. It assesses simultaneously the two closely related implications of the beggar-thy-neighbor view: (i) undervaluation of the domestic currency improves the domestic trade balance; and most importantly, (ii) undervaluation of the domestic currency negatively impacts the other countries’ trade balances. Starting from the traditional imperfect substitutes model, we propose an empirical framework allowing the estimation of both the internal and external impacts of currency undervaluation. This framework is then applied to a panel of 62 advanced and emerging markets over the period 1990-2007. The results give strong support to the beggar-thy-neighbor hypothesis. We find that currency undervaluation is robustly and significantly associated with an improvement of the domestic trade balance. We also find that countries that keep their currencies undervalued tend to negatively impact the other countries’ trade balances. Finally, our estimates suggest that the external effect of China’s renminbi, which has been the focus of the profession thus far, might be “the tip of the iceberg”: the latter two results carry over when China’s trade data are excluded from the analysis.","PeriodicalId":104767,"journal":{"name":"Strategy & Macroeconomic Policy eJournal","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131120978","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: 4