European Economics: Microeconomics & Industrial Organization eJournal最新文献

{"title":"Cybersecurity and Liability in a Big Data World","authors":"Maria Lillà Montagnani, Mirta Antonella Cavallo","doi":"10.2139/ssrn.3220475","DOIUrl":"https://doi.org/10.2139/ssrn.3220475","url":null,"abstract":"The interplay between big data and cloud computing is at the same time undoubtedly promising, challenging and puzzling. The current technological landscape is not without paradoxes and risks, which under certain circumstances may raise liability issues for market operators. In this article we illustrate the several challenges in terms of security and resilience that market operators face as their overcoming is of strategic importance for businesses wishing to be deemed privacy-respectful and reliable market actors. After a brief overview of the potentialities and drawbacks deriving from the combination of big data and cloud computing, this article illustrates the challenges and the obligations imposed by the European institutions on providers processing personal data – pursuant to the General Data Protection Regulation – and on providers of digital services and essential services – according to the NIS Directive. We also survey the European institutions’ push towards the development and adoption of codes of conduct, standards and certificates, as well as their last proposal for a new Cybersecurity Act. We conclude by showing that, despite this articulate framework, big data and cloud service providers still leverage on their strong market power to use “contractual shields” and escape liability.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131004861","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":"Aspirations and Optimal Taxation: Lump-Sum and Proportional Taxes","authors":"Matthias Weber","doi":"10.2139/ssrn.3189728","DOIUrl":"https://doi.org/10.2139/ssrn.3189728","url":null,"abstract":"I provide a simple two-period model comparing lump-sum taxes with proportional labor taxes. The difference to the classical optimal taxation literature is that I introduce a behavioral twist according to which people’s aspirations change from one period to another as suggested by empirical evidence. It turns out that the policy implication from this model can differ significantly from the one assuming full rationality. In the behavioral model, a lump-sum tax is much less attractive. This paper does not aim at providing a full-fledged quantitative model, it should rather be seen as a cautionary tale about the robustness of classical optimal taxation results when deviating from full rationality.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117196762","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":"Industry 4.0 and World Economic Divergence - A Novel Perspective on the Impact of Fourth Industrial Revolution on the World Economy","authors":"Ashutosh Rijal","doi":"10.2139/ssrn.3905292","DOIUrl":"https://doi.org/10.2139/ssrn.3905292","url":null,"abstract":"Industry 4.0 is a current trend of digital transformation and integration of processes into the digital environment using automation, big data, and Internet of Things (IoT). The divergence of the world economy, contrary to the convergence infers the increasing gap between developing and developed countries. Although it is true that there are significant productivity and efficiency gains with the upcoming fourth industrial revolution, it is also essential to examine the differences in the impact of automation on these two economies. The thesis is an attempt to investigate how unanticipatedly Industry 4.0 and the upcoming era of automation supports the divergence of the world economy, contributing to the gap between the developed (Japan, USA, Germany) and developing countries (India, Nigeria, Mexico). The higher the population, the higher the number of people contributing to economy, has been the centre argument for convergence. But how different is the economic impact, when it is the industrial robots working for the economy and when the country even with low population can achieve equally high output? The paper dives over these topics with 1) comparative analysis where an outlook of Industry 4.0 is observed by examining previous three industrial revolutions 2) macroeconomic analysis, where population demographics, labour redeployment and marginal cost-benefit of Industry 4.0 are inferred to discuss divergence of economies. The transdisciplinary paper uses concepts from economics and business disciplines and concludes with policies for developed and developing countries to prepare for the upcoming transition.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114288423","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":"Joint Venture Agreements and EU Competition Law: The Case of the Construction Industry in Particular","authors":"L. S. Morais","doi":"10.2139/ssrn.3252397","DOIUrl":"https://doi.org/10.2139/ssrn.3252397","url":null,"abstract":"The first and significant hurdle in joint venture competition law analysis has to do with its rigorous definition. No consensual definition of the concept of joint venture in the field of competition law (including EU competition law) has ever been provided. On the contrary, multiple definitions have been proposed, but despite such widespread discussion ambiguity reins in this area.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115334998","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":"Least-Cost Distribution Network Tariff Design in Theory and Practice","authors":"Tim Schittekatte, L. Meeus","doi":"10.2139/ssrn.3169855","DOIUrl":"https://doi.org/10.2139/ssrn.3169855","url":null,"abstract":"In this paper a game-theoretical model with self-interest pursuing consumers is introduced to assess how to design a least-cost distribution tariff under two constraints that regulators typically face. The first constraint is related to difficulties regarding the implementation of cost-reflective tariffs. In practice, so-called cost-reflective tariffs are only a proxy for the actual cost driver(s) in distribution grids. The second constraint has to do with fairness. There is a fear that active consumers investing in distributed energy resources (DER) might benefit at the expense of passive consumers. We find that both constraints have a significant impact on the least-cost network tariff design, and the results depend on the state of the grid. If most of the grid investments still have to be made, passive and active consumers can both benefit from cost-reflective tariffs, while this is not the case for passive consumers if the costs are mostly sunk.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130441217","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":"Symmetry and Convergence in Monetary Unions","authors":"Nauro F. Campos, C. Macchiarelli","doi":"10.2139/ssrn.3137204","DOIUrl":"https://doi.org/10.2139/ssrn.3137204","url":null,"abstract":"This paper has three main objectives, namely to (a) propose a new framework that can support placing countries along a core-periphery continuum (beyond the more common binary treatment as either core or periphery), (b) to construct a continuous dynamic theory-based measure (the first, to the best of our knowledge) illustrating the use of this framework for a set of European countries using yearly data from 1960 to 2015, and (c) provide a first preliminary assessment, based on endogenous Optimal Currency Area (OCA) theory, of the main potential explanatory factors of the dynamics of this measure over time and across countries. Our main finding is that this new measure allows us to identify sets of countries on the basis of not only its level but also in terms of its dynamic behaviour. Using the Phillips-Sul procedure, we show the emergence a newer set of core countries (composed by Austria, Belgium, Germany, France, Italy and Netherlands), a mixed set of countries (namely Denmark, Sweden, Greece, Spain and the UK), and a set of deep-rooted periphery countries (Finland, Ireland, Norway, Portugal, and Switzerland). There are valuable lessons from the dynamics of this measure. It increases for core countries (which confirms endogenous OCA predictions), remains worrisomely constant for a periphery, and varies substantially for the intermediate set of countries. Spain (Sweden and Greece) becomes consistently more (less) core over time, Denmark’s remains constant and the UK moves in and out of the core over time. Our panel estimates on a specification suggested by endogenous OCA theory imply that euro membership and more flexible product market regulations (or trade openness) make countries more likely to be in the core.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131091738","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":"Granular Legal Norms: Big Data and the Personalization of Private Law","authors":"C. Busch, Alberto De Franceschi","doi":"10.4337/9781788111300.00025","DOIUrl":"https://doi.org/10.4337/9781788111300.00025","url":null,"abstract":"Against the background of the emerging debate about personalized law, this book chapter explores how Big Data and algorithm-based regulation could fundamentally change the design and structure of legal norms: impersonal law based on typifications could be replaced by a more personalized law, based on \"granular legal norms\". \u0000We argue that the use of legal typifications which is a hallmark of impersonal law can be conceptualized as the answer to an information problem, a concession to the imperfections of a legal system administered by humans. The emergence of super-human capacities of information-processing through artificial intelligence could make it possible to personalize the law and achieve a level of \"granularity\" that has hitherto been unachieved. The chapter analyses the benefits of \"granular legal norms\" as well as possible limitations and objections, in particular privacy concerns and the principle of equality.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"152 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133120929","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":"Threats against Innovation-Based Growth in the EU","authors":"R. Svensson","doi":"10.4337/9781788111058.00012","DOIUrl":"https://doi.org/10.4337/9781788111058.00012","url":null,"abstract":"This chapter has shown that for the EU to maintain its competitiveness and growth, extraordinary measures are required regarding innovation and technology development. I have identified four important areas in which measures are necessary: public financing of R&D performed in the business sector, public financing of business innovation, IPR and university R&D. To solve the problems related to underinvestment in R&D due to spillover effects, governments can finance business R&D. This support should be designed according to the following guidelines. Public financiers should offer a combination of direct and indirect R&D support to the business sector. Direct R&D support should be offered in sectors with qualities in the public interest (environment, energy and defence). The projects should partly be financed by the private sector to indicate to government which projects are commercially promising. Tax incentives should be increase-based to avoid deadweight losses, and they should be linked to the expenditure side of the firms to maximize the number of firms that can utilize this type of support. Patent and innovation boxes should be removed. They are expensive and no evidence exists that they stimulate more R&D or innovation in the host countries. A government should finance approximately 10 per cent of total business R&D. Today, most EU countries are below this level. Thus, increasing public R&D support in the business sector is still possible without risking serious crowding-out effects. To solve the problems associated with incomplete capital markets for risky projects, governments can assist by financing small, innovative firms and stimulating individuals to act as business angels in several ways. GVC funds should focus on early phases. Co-financing from private investors should be required. The purpose of co-financing is partly to utilize market signals about which projects are commercially promising and partly to activate private capital in early phases. Alternatively, a hybrid VC fund can be created that is financed by both government and private investors (often with each contributing 50 per cent). The fund is then administered by the private investors. The purpose is to stimulate private investors to supply capital by adjusting the risk-return ratio in favour of the private investors. This method is recommended when an economy lacks PVC firms. To prevent both these fund types from investing in late phases, a ceiling amount per portfolio firm can be established, for example a maximum of 1 million euros. Governments could offer tax deductions to individuals investing in non-listed firms. Investments up to a specific amount should be deductible against taxable income. Capital income could be excluded from taxation if the portfolio investments are kept for a specific period or if the profit is reinvested in other non-listed firms. A final complementary method in the seed phase is government offering inventors/entrepreneurs soft innovation loan","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127938674","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":"Resource Misallocation in European Firms: The Role of Constraints, Firm Characteristics and Managerial Decisions","authors":"Y. Gorodnichenko, D. Revoltella, Jan Svejnar, Christoph T. Weiss","doi":"10.2867/325364","DOIUrl":"https://doi.org/10.2867/325364","url":null,"abstract":"Using a new survey, we show that the dispersion of marginal products across firms in the European Union is about twice as large as that in the United States. Reducing it to the US level would increase EU GDP by more than 30 percent. Alternatively, removing barriers between industries and countries would raise EU GDP by at least 25 percent. Firm characteristics, such as demographics, quality of inputs, utilization of resources, and dynamic adjustment of inputs, are predictors of the marginal products of capital and labor. We emphasize that some firm characteristics may reflect compensating differentials rather than constraints and the effect of constraints on the dispersion of marginal products may hence be smaller than has been assumed in the literature. We also show that cross-country differences in the dispersion of marginal products are more due to differences in how the business, institutional and policy environment translates firm characteristics into outcomes than to the differences in firm characteristics per se.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123537257","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":"Complementarity in Product, Process, and Organizational Innovation Decisions: Evidence from European Firms","authors":"Oliviero A. Carboni, P. Russu","doi":"10.1111/radm.12284","DOIUrl":"https://doi.org/10.1111/radm.12284","url":null,"abstract":"This work uses a sample of firm-level data from seven EU countries to explore the possible roles of simultaneity and heterogeneity in determining firms' decisions to engage in three types of innovation. Process, product, and organizational innovations are considered jointly, by applying a multivariate probit specification. The results support the hypothesis that the three innovation decisions are interdependent. This has straightforward implications for the practice of R&D managers. In order to gain advantages from an innovation, innovation managers need to jointly exploit these different types of innovation activities and their potential synergies. Given that the innovative firms in the sample, desire additional credit which actually they do not obtain, R&D managers should also be concerned with the financing sources firms have access to. Finally, from the analysis it also emerges that public support boost all the three forms of innovation.","PeriodicalId":434487,"journal":{"name":"European Economics: Microeconomics & Industrial Organization eJournal","volume":"268 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116490250","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}