|
|
|
| Registros recuperados: 28 | |
|
| |
|
| |
|
| |
|
| |
|
|
| Newell, Richard G.; Papps, Kerry L.; Sanchirico, James N.. |
| We investigate the applicability of the present-value asset pricing model to fishing quota markets by applying instrumental variable panel data estimation techniques to 15 years of market transactions from New Zealand's individual fishing quota market. In addition to the influence of current fishing rents (as measured by lease prices), we explore the effect of market interest rates, risk, and expected changes in future rents on quota asset prices. Controlling for these other factors, the results support a fairly simple relationship between quota asset and contemporaneous lease prices. Consistent with theoretical expectations, the results indicate that quota asset prices are positively related to declines in interest rates, lower levels of risk, expected... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Tradable permits; Individual transferable fishing quota; Asset pricing; Fisheries; Policy; Resource /Energy Economics and Policy; Q22; Q28; D40; L10. |
| Ano: 2005 |
URL: http://purl.umn.edu/10639 |
| |
|
| |
|
| |
|
|
| Casaburi, Lorenzo; Gattai, Valeria; Minerva, G. Alfredo. |
| This paper revisits the empirical evidence about the link between firms’ performance and their international status, based on a large sample of Italian enterprises. To this purpose, we merged two waves of the Capitalia survey (1998-2000, and 2001-2003) retrieving firm level data for roughly 7,000 units. Three results stand out from our empirical exercise. First, firms that engage in the foreign production of final goods, in addition to export activities, are more productive than firms that only export abroad. Second, firms that engage in final goods off-shoring are more productive than firms that engage in inputs off-shoring. Third, in terms of the productivity dynamics over the period 1998-2003, exporters’ performance in Italy was not any better than the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Export; Heterogeneous Firms; Italy; Off-shoring; Productivity; International Relations/Trade; Productivity Analysis; F10; F20; L10; L20; L60. |
| Ano: 2008 |
URL: http://purl.umn.edu/6360 |
| |
|
| |
|
|
| Hendrikse, George W.J.. |
| A model is presented in which spot and contract market exchange co-exist. A contract consists of a delivery requirement between an upstream and a downstream party. Contract formation determines to a certain extent the probability distribution of the spot market price. This contract formation externality entails the removal of high reservation price buyers and various sellers from the spot market. The first effect decreases the expected spot market price when the number of contracts is small, whereas the decrease in the number of sellers and additional residual contract demand increase the expected spot market price beyond a certain number of contracts. It implies an endogenous upper bound on the number of contracts. Contract prices are positively related... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Spot market; Contract externality; Co-existence; Delivery requirement; Marketing; D40; L10. |
| Ano: 2006 |
URL: http://purl.umn.edu/21041 |
| |
|
|
| Sanchirico, James N.; Holland, Daniel S.; Quigley, Kathryn; Fina, Mark. |
| Individual fishery quotas (IFQs) are an increasingly prevalent form of fishery management around the world, with more than 170 species currently managed with IFQs. Yet, because of the difficulties in matching quota holdings with catches, many argue that IFQs are not appropriate for multispecies fisheries. Using on-the-ground-experience with multispecies IFQ fisheries in Iceland, New Zealand, Australia, and Canada, we assess the design and use of catch-quota balancing mechanisms. Our methodology includes a mix of interviews with fishery managers, industry representatives, and brokers, literature review, and data analysis. We find that a combination of incentives and limits on use rates for the mechanisms provide sufficient flexibility to the quota owner... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Natural resources; Created markets; Tradable permits; Resource /Energy Economics and Policy; Q22; Q28; D40; L10. |
| Ano: 2005 |
URL: http://purl.umn.edu/10543 |
| |
|
|
| Walter, Ingo. |
| The financial services industry is "special" in a variety of ways, including the fiduciary nature of the business, its role at the center of the payments and capital allocation process with all its static and dynamic implications for economic performance, and the systemic nature of problems that can arise in the industry. So the structure, conduct and performance of the industry has unusually important public interest dimensions. One facet of the discussion has focused on size of financial firms, however measured, and the range of activities conducted by them. Is size positively related to total returns to shareholders? If so, does this involve gains in efficiency or transfers of wealth to shareholders from other constituencies, or maybe both? Does greater... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Financial services; Shareholders; Size of financial firms; Financial Economics; G20; L10. |
| Ano: 2002 |
URL: http://purl.umn.edu/26341 |
| |
|
|
| Chuma, Hiroyuki. |
| Through the use of extensive field research and an original international questionnaire, the main sources of the leapfrogging development of the Japanese machine-tool industry in the past 19 years were investigated. Past studies have emphasized the strategic R&D alliance with superlative computerized numerical control (CNC) makers, the extensive use of outsourcing from excellent precision parts suppliers, and the extraordinary development of automakers. This paper critically considered these factors and verified their inadequacy in explaining the further development of this industry in the 1990s. Hence, attention was paid to the significant roles of intrafirm factors such as: (a) the simultaneous and cross-functional information sharing system at an... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Machine-tool; Product development process; Information sharing; Industrial Organization; L10; L22; L64. |
| Ano: 2001 |
URL: http://purl.umn.edu/28512 |
| |
|
| |
|
| |
|
| |
|
|
| Carter, Colin A.; MacLaren, Donald; Yilmaz, Alper. |
| Japan is one of the largest importers of wheat in the world, with imports originating from three countries, Australia, Canada, and the United States. Australia, Canada, and Japan all use a government single-desk agency to control wheat trade. Many previous studies on competition in the world grain trade have argued the market is imperfectly competitive, and they often point to the Japanese market. We study the Japanese wheat import market for this reason, but find no compelling evidence of imperfect competition. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Wheat trade; Competition; Crop Production/Industries; International Relations/Trade; F14; L10; Q17. |
| Ano: 1999 |
URL: http://purl.umn.edu/11973 |
| |
| Registros recuperados: 28 | |
|
|
|
