{"title":"A Waste Collection Problem with Service Type Option","authors":"Sina Gläser","doi":"10.2139/ssrn.3912407","DOIUrl":"https://doi.org/10.2139/ssrn.3912407","url":null,"abstract":"Efficient solid waste management is one of the most relevant issues for urban communities. With regard to the service type of household waste collection, there are two approaches in practice: When collecting household waste via a door-to-door system, the collection vehicles drive down all the streets to empty the garbage cans on the curb. Using a bring system, waste is accumulated at central collection sites with a larger capacity. While residents do have to travel an additional distance to dispose of their waste at these central collection sites, a bring system can reduce the distance to be covered by collection vehicles because they no longer have to drive down all the streets. To combine the advantages of both systems, in this article the service type decision is introduced. The corresponding waste collection problem with service type option (WCPSTO) is modeled as a new variant of a periodic location routing problem and an adaptive large neighborhood search-based solution approach is proposed. This solution approach not only solves the newly presented problem, but also outperforms a solution algorithm for a related waste collection problem seen in the literature, which can be seen as a special case of the WCPSTO.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115534285","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}
{"title":"Governance Structure, Technical Change and Industry Competition","authors":"M. Guerini, P. Harting, M. Napoletano","doi":"10.2139/ssrn.3738026","DOIUrl":"https://doi.org/10.2139/ssrn.3738026","url":null,"abstract":"We develop a model to study the impact of corporate governance on firm investment decisions and industry competition. In the model, governance structure affects the distribution of shares among short- and long-term oriented investors, the robustness of the management regarding possible stockholder interference, and the managerial remuneration scheme. A bargaining process between firm's stakeholders determines the optimal allocation of financial resources between real investments in R&D and financial investments in shares buybacks. We characterize the relation between corporate governance and firm's optimal investment strategy and we study how different governance structures shape technical progress and the degree of competition over the industrial life cycle. Numerical simulations of a calibrated set-up of the model show that pooling together industries characterized by heterogeneous governance structures generate the well-documented inverted-U shaped relation between competition and innovation.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126945178","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}
{"title":"Public Debt in a Descriptive Endogenous Growth Model","authors":"Alfred Greiner","doi":"10.2139/ssrn.3370095","DOIUrl":"https://doi.org/10.2139/ssrn.3370095","url":null,"abstract":"In this paper we analyze a descriptive endogenous growth model with public debt. The government can run into debt, but, the primary surplus is a positive function of the debt to GDP ratio such that the debt ratio becomes a mean-reverting process. We show that a balanced budget scenario yields a higher long-run growth rate than a scenario with permanent deficits if and only if the public deficit exceeds the net saving out of government bonds. As regards the dynamics, the analysis shows that multiple balanced growth paths can arise. Further, reducing the reaction of the primary surplus to a higher public debt can generate endogenous cycles via a Hopf bifurcation and, for a sufficiently low reaction coefficient, the economy becomes unstable.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129991876","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}
{"title":"Optimal Promotions of Competing Firms in a Frictional Labour Market with Organizational Hierarchies","authors":"H. Dawid, Mariya Mitkova, A. Zaharieva","doi":"10.2139/ssrn.3368959","DOIUrl":"https://doi.org/10.2139/ssrn.3368959","url":null,"abstract":"We study optimal promotion decisions of hierarchical firms, with one junior and one senior managerial position, which interact in a search and matching labor market. Workers acquire experience over time while being employed in a junior position and the firm has to determine the experience level at which the worker receives a promotion which allows her to fill a senior position. Promoted workers move to the senior position in their current firm, if it is vacant, otherwise they search for senior positions on the market. The promotion cut-offs of the competing firms exhibit strategic complementarity, but we show that generically a unique stable symmetric general equilibrium exists. If workers have homogeneous skills, then an increase in the skill level induces faster promotion. In the presence of two skill levels in the work force an increase of the fraction of high skilled leads to slower promotion of both types of workers, where the promotion threshold for high skilled workers is substantially below that for low-skilled workers. This implies earlier promotions of high skill workers compared to the low skilled consistent with available empirical evidence. Finally, we show that inserting pyramidal firms, which have twice as many junior than senior positions, into the market induces all firms to promote later. Pyramidal firms in equilibrium promote substantially later than vertical firms which is supported by the exsiting empirical findings. The paper also makes a methodological contribution by combining search and matching theory with simulations in order to characterize the general equilibrium promotion cut-offs in a market setting with heterogeneous hiearchical firms.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129327387","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}
{"title":"The Farsighted Stability of Global Trade Policy Arrangements","authors":"Stefan Berens, Lasha Chochua, Gerald Willmann","doi":"10.2139/ssrn.3075089","DOIUrl":"https://doi.org/10.2139/ssrn.3075089","url":null,"abstract":"In this paper, we study and compare the stability of trade policy \u0000arrangements in two different regulatory scenarios, one with and one without \u0000Preferential Trade Agreements (PTAs), i.e. current vs. modified WTO rules. \u0000Unlike the existing literature, our paper considers an extensive choice set of \u0000trade constellations, containing both available PTAs, Customs Unions (CUs) \u0000and Free Trade Agreements (FTAs), as well as Multilateral Trade Agreements \u0000(MTAs), while assuming unlimited farsightedness of the negotiating parties. \u0000With symmetric countries and under both the current and the modified WTO \u0000rules, the Global Free Trade (GFT) regime emerges as the unique stable outcome. \u0000In the case of asymmetry, the results are driven by the relative size of \u0000the countries. If the world is in the vicinity of symmetry and two out of three \u0000countries are close to identical while relatively smaller than the other one, the \u0000area where the GFT regime is stable increases when prohibiting PTAs. However, \u0000when two similar countries are relatively larger, the availability of PTAs \u0000is conducive to the stability of the GFT regime. Finally, if the world is further \u0000away from symmetry, full trade liberalization is not attainable at all and an \u0000area where the Most-Favoured-Nation (MFN) regime is stable appears in the \u0000scenario without PTAs. Thus, the direction of the effect of PTAs on trade \u0000liberalization depends on the degree of asymmetry among countries.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121633649","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}
{"title":"Debt Sustainability Issues in the Central and Eastern European Countries","authors":"B. Bökemeier, A. Stoian","doi":"10.2139/ssrn.2803107","DOIUrl":"https://doi.org/10.2139/ssrn.2803107","url":null,"abstract":"The aim of this study is to investigate debt sustainability in ten Central and Eastern European countries over 1997-2013. Following Burger (2012), we calculate the stabilized debt using the estimates of a fiscal reaction function for a balanced panel with fixed effects. Comparing the stabilized, the effective debt ratios and the historical averages, we can assess debt sustainability in short and in long run. We find that current debt ratio as of 2015 for Bulgaria and Romania is not sustainable. The debt dynamics of Bulgaria is stable whilst for Romania's case the debt trajectory indicates unstable dynamics. As for historical averages of debt ratios, Bulgaria could encounter debt sustainability issues also in the long run.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131548707","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}
{"title":"Export vs. FDI: Sandwich Sorting with Quadratic Preferences","authors":"Niklas Herzig","doi":"10.2139/ssrn.2753531","DOIUrl":"https://doi.org/10.2139/ssrn.2753531","url":null,"abstract":"By applying quadratic instead of CES consumer preferences in a monopolistic competition model with heterogeneous firms, this paper investigates the robustness of the conventional sorting of cross-border active firms, first described by Helpman, Melitz and Yeaple (2004), and finds thereby an alternative type of sorting: While (sufficiently) productive firms export and more productive ones engage in foreign direct investment (FDI), the most productive firms do not undertake FDI, but export again, establishing the so-called sandwich sorting. Evidene for this type can be observed for investment and services trade patterns.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127547510","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}
{"title":"US Policy Spillover (?) -- China's Accession to the WTO and Rising Exports to the EU","authors":"Karsten Mau","doi":"10.2139/ssrn.2630517","DOIUrl":"https://doi.org/10.2139/ssrn.2630517","url":null,"abstract":"The paper offers a novel explanation for China’s manufacturing exports performance after WTO entry. Building on stylized facts about low-wage country exporters, a theoretical model is developed to analyze reduced trade policy uncertainty. A global (non-destination specific) component of exporting fixed costs facilitates transmission of bilateral policy changes to multilateral export performance. The empirical analysis exploits the removal of US tariff uncertainty in conjunction with China’s WTO accession, and examines its effect on China’s exports to the EU. The results reveal that: (i) the structure of China’s export boom to the EU conforms to the pattern of US tariff uncertainty; (ii) the adjustment takes place at the extensive margin; and (iii) the effect phases out after a few years. These findings have implications for the scope of international policy negotiations and provide suggestive evidence on the nature of fixed costs manufacturing firms in low-wage countries must overcome.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123615365","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}
{"title":"Public Debt and Economic Growth in Emerging Market Economies","authors":"B. Bökemeier, Alfred Greiner","doi":"10.2139/ssrn.2449222","DOIUrl":"https://doi.org/10.2139/ssrn.2449222","url":null,"abstract":"This paper empirically studies the relationship between public debt and economic growth for selected emerging market economies by performing panel data estimations. The results reveal a statistically significant positive correlation between public debt and the subsequent growth rate of per capita gross domestic product (GDP). Population and investment are also positively correlated with per capita growth, whereas the initial level of real GDP per capita exerts a negative influence on growth, implying conditional convergence. Other variables such as the inflation rate, the trade balance or the exchange rate do not yield a statistically significant effect with respect to economic growth.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127267965","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}
{"title":"Elasticity Theory of Structuring","authors":"A. N. Soklakov","doi":"10.2139/ssrn.2262963","DOIUrl":"https://doi.org/10.2139/ssrn.2262963","url":null,"abstract":"Financial derivatives have often been criticized as casino-style betting instruments. It turns out that many naive ways of making them are indeed equivalent to gambling. Fortunately, this inadvertent effect can be understood and prevented. We present a theory of product design which achieves that.","PeriodicalId":381706,"journal":{"name":"Bielefeld Working Papers in Economics & Management","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116267321","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}
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