nep-eur New Economics Papers
on Microeconomic European Issues
Issue of 2017‒05‒28
23 papers chosen by
Giuseppe Marotta
Università degli Studi di Modena e Reggio Emilia

  1. Unemployment Insurance and Reservation Wages: Evidence from Administrative Data By Le Barbanchon, Thomas; Rathelot, Roland; Roulet, Alexandra
  2. The Effects of Youth Labor Market Reforms: Evidence from Italian Apprenticeships By Albanese, Andrea; Cappellari, Lorenzo; Leonardi, Marco
  3. Interactions Between Financial Incentives and Health in the Early Retirement Decision By Pilar Garcia-Gomez; Titus J. Galama; Eddy van Doorslaer; Angel Lopez-Nicolas
  4. Microfinance beyond self-employment: Evidence for firms in Bulgaria By Erhardt, Eva
  5. The Impact of CSR Certification on Firm Profitability, Wages and Sales By Peter Huber; Eva Abramuszkinová Pavlíková; Marcela Basovníková
  6. Parental Leave, (In)formal Childcare and Long-term Child Outcomes By Natalia Danzer; Martin Halla; Nicole Schneeweis; Martina Zweimüller
  7. Fertility Effects of Child Benefits By Riphahn, Regina T.; Wiynck, Frederik
  8. Bayesian Inference for TIP curves: An Application to Child Poverty in Germany By Edwin Fourrier-Nicolai; Michel Lubrano
  9. Decomposition techniques for financial ratios of European non-financial listed groups By Carlino, Laurent; Coppens, François; González, Javier; Ortega, Manuel; Pérez-Duarte, Sébastien; Rubbrecht, Ilse; Vennix, Saskia
  10. The role of community compensation mechanisms in reducing resistance to energy infrastructure development By Hyland, Marie; Bertsch, Valentin
  11. Evaluating Market Consolidation in Mobile Communications By Genakos, Christos D.; Valletti, Tommaso; Verboven, Frank
  12. The relationship between corporate governance and tax avoidance - evidence from Germany using a regression discontinuity design By Kiesewetter, Dirk; Manthey, Johannes
  13. She's Leaving Home: A Large Sample Investigation of the Empty Nest Syndrome By Alan Piper; Ian Jackson
  14. The Impact of Process Innovation on Prices: Evidence from Automated Fuel Retailing in The Netherlands By Adriaan R. Soetevent; Tadas Bruzikas
  15. You shall not build! (until tomorrow) [:] Electoral cycles and housing policies in Germany By Martin, Thorsten
  16. Does Part-Time Work Help Unemployed Workers to Find Full-Time Work? Evidence from Spain By Kyyrä, Tomi; Arranz, José María; García-Serrano, Carlos
  17. Financial incentives for residential energy efficiency investments in Ireland: Should the status quo be maintained? By Collins, Matthew; Dempsey, Seraphim; Curtis, John
  18. Building a firm level dataset for the analysis of industrial dynamics and demography By M. Grazzi; C. Piccardo; C. Vergari
  19. Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins By Beck, Thorsten; Da-Rocha-Lopes, Samuel; Silva, Andre
  20. New Road Infrastructure: The Effects on Firms By Stephen Gibbons; Teemu Lyytikäinen; Henry Overman; Rosa Sanchis-Guarner
  21. Credit conditions and the housing price ratio: evidence from Ireland's bubble and crash By Ronan C Lyons
  22. Changes in the German Wage Structure: Unions, Internationalization, Tasks, Firms, and Worker Characteristics By Biewen, Martin; Seckler, Matthias
  23. The journey in Open Innovation to develop a SME: A longitudinal case study in a French robotics company By Jean-Claude Boldrini; Guy Caverot; Maxime Ezequel

  1. By: Le Barbanchon, Thomas; Rathelot, Roland; Roulet, Alexandra
    Abstract: Although the reservation wage plays a central role in job search models, empirical evidence on the determinants of reservation wages, including key policy variables such as unemployment insurance (UI), is scarce. In France, unemployed people must declare their reservation wage to the Public Employment Service when they register to claim UI benefits. We take advantage of these rich French administrative data and of a reform of UI rules to estimate the effect of the potential benefit duration (PBD) on reservation wages and on other dimensions of job selectivity, using a difference-in-difference strategy. We cannot reject that the elasticity of the reservation wage with respect to PBD is zero. Our results are precise and we can rule out elasticities larger than 0.006. Furthermore, we do not find any significant effects of PBD on the desired number of hours, duration of labor contract and commuting time/distance. The estimated elasticity of actual benefit duration with respect to PBD of 0.3 is in line with the consensus in the literature. Exploiting a regression discontinuity design as an alternative identification strategy, we find similar results.
    Keywords: reservation wage; Unemployment insurance
    JEL: J64 J65
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:12030&r=eur
  2. By: Albanese, Andrea (Ghent University); Cappellari, Lorenzo (Università Cattolica del Sacro Cuore); Leonardi, Marco (University of Milan)
    Abstract: This paper estimates the causal effects of the 2003 reform of the Italian apprenticeship contract which aimed at introducing the "dual system" in Italy by allowing on-the-job training. The reform also increased the age eligibility of the apprenticeship contract and introduced a minimum floor to apprentices' wages. Using administrative data and balancing techniques we find that five years after hiring, the new contract improves the chances of moving to a permanent job in the same firm, yet this happens mostly in large firms. There are also sizeable long-run wage effects of the reform, well beyond the legal duration of apprenticeships, compatible with increased human capital accumulation probably due to the training provisions of the reform.
    Keywords: apprenticeship, permanent work, youth employment, covariate balancing, propensity score
    JEL: J24 J41 C21
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp10766&r=eur
  3. By: Pilar Garcia-Gomez (Erasmus University Rotterdam, the Netherlands); Titus J. Galama (University of Southern California, US); Eddy van Doorslaer (Erasmus University Rotterdam, the Netherlands); Angel Lopez-Nicolas (Universidad Politecnica de Cartagena, Spain)
    Abstract: We present a theory of the relation between health and retirement that generates testable predictions regarding the interaction of health, wealth and financial incentives in retirement decisions. The theory predicts (i) that wealthier individuals (compared to poorer individuals) are more likely to retire for health reasons(affordability proposition), and (ii) that health problems make older workers more responsive to financial incentives encouraging retirement (reinforcement proposition). We test these predictions using administrative data on older employees in the Dutch healthcare sector for whom we link adverse health events, proxied by unanticipated hospitalizations, to information on retirement decisions and actual incentives from administrative records of the pension funds. Exploiting unexpected health shocks and quasi-exogenous variation in nancial incentives for retirement due to reforms, we account for the endogeneity of health and financial incentives. Making use of the actual individual pension rights diminishes downward bias in estimates of the effect of pension incentives. We find support for our affordability and reinforcement propositions. Both propositions require the benefits function to be convex, as in our data. Our theory and empirical findings highlight the importance of assessing financial incentives for their potential reinforcement of health shocks and point to the possibility that differences in responses to financial incentives and health shocks across countries may relate to whether the benefit function is concave or convex.
    Keywords: pensions; health; retirement; disability; health investment; lifecycle model; health capital
    JEL: C33 D91 H55 I10 I12 J00 J24 J26 J45 D91
    Date: 2017–04–27
    URL: http://d.repec.org/n?u=RePEc:tin:wpaper:20170044&r=eur
  4. By: Erhardt, Eva
    Abstract: This paper provides new evidence on the impact of microfinance on job creation beyond self-employment. We examine wage-employment effects for a typical program in Eastern Europe with average loan sizes that are considerably above what has been studied so far. We apply propensity score matching extended by a difference-in-differences estimator to panel data from an individual-lending program to firms in Bulgaria. Our results indicate that microcredit has very positive effects on job creation. Participating firms have on average 2.5 (or 33 percent) more employees two years after receiving a microcredit than matched non-participants. This strong effect seems to be related to a certain loan size threshold necessary for positive impacts to unfold. Effects are largest for the smallest firms, supporting findings from other studies that small firms are more constrained by credit than large firms. Investigating dynamic effects for up to six years after treatment, we furthermore show that effects are long lasting.
    Keywords: microfinance, wage employment, small firms, impact evaluation, Bulgaria
    JEL: C21 D22 G21 J23 P34
    Date: 2017–03
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:79294&r=eur
  5. By: Peter Huber (WIFO); Eva Abramuszkinová Pavlíková; Marcela Basovníková
    Abstract: We use synthetic control group methods to analyse the causal impact of CSR certification on the economic performance of a small set of Italian manufacturing firms that underwent SA8000 certification in 2009 or 2010. We find no evidence of a positive or negative impact of SA8000 certification on firm profitability and wages. The only outcome variable for which effects are positive and weakly significant in many instances are firms' turnover to assets ratios. From this we conclude that SA8000 certification has no strong impact on firm profitability and wage costs, but that it may be a viable marketing tool that increases company sales.
    Keywords: Corporate Social Responsibility, Synthetic Control Groups, Company Performance, SA8000 certification
    Date: 2017–05–22
    URL: http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2017:i:535&r=eur
  6. By: Natalia Danzer; Martin Halla; Nicole Schneeweis; Martina Zweimüller
    Abstract: We provide a novel interpretation of the estimated treatment effects from evaluations of parental leave reforms. Accounting for the counterfactual mode of care is crucial in the analysis of child outcomes and potential mediators. We evaluate a large and generous parental leave extension in Austria exploiting a sharp birthday cutoff-based discontinuity in the eligibility for extended parental leave and geographical variation in formal childcare. We find that estimated treatment effects on long-term child outcomes differ substantially according to the availability of formal childcare and the mother's counterfactual work behavior. We show that extending parental leave has significant positive effects on children's health and human capital outcomes only if the reform induces a replacement of informal childcare with maternal care. We conclude that care provided by mothers (or formal institutions) is superior to informal care-arrangements.
    Keywords: Parental leave, formal childcare, informal childcare, child development, mater- nal labor supply, fertility
    JEL: J13 H52 J22 J12 I38
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:inn:wpaper:2017-11&r=eur
  7. By: Riphahn, Regina T. (University of Erlangen-Nuremberg); Wiynck, Frederik (University of Erlangen-Nuremberg)
    Abstract: We exploit the 1996 reform of the German child benefit program to identify the causal effect of heterogeneous child benefits on fertility. While generally the reform increased child benefits, the exact amount of the increase varied by household income and the number of children. We use these heterogeneities to identify their causal effects on fertility in a difference-in-differences setting. We apply the large samples of the German Mikrozensus and the rich data of the German Socio-economic Panel (SOEP). The reform effects on low income couples are not statistically significant. We find some support for positive fertility effects for higher as opposed to lower income couples deciding on a second birth.
    Keywords: child benefits, fertility, tax allowance, causal effect, difference-in-differences, Mikrozensus, SOEP
    JEL: J13 I38 C54
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp10757&r=eur
  8. By: Edwin Fourrier-Nicolai (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille 2 - Université Paul Cézanne - Aix-Marseille 3 - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Michel Lubrano (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille 2 - Université Paul Cézanne - Aix-Marseille 3 - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)
    Abstract: TIP curves are cumulative poverty gap curves used for representing the three different aspects of poverty: incidence, intensity and inequality. The paper provides Bayesian inference for TIP curves, linking their expression to a parametric representation of the income distribution using a mixture of lognormal densities. We treat specifically the question of zero-inflated income data and survey weights, which are two important issues in survey analysis. The advantage of the Bayesian approach is that it takes into account all the information contained in the sample and that it provides small sample confidence intervals and tests for TIP dominance. We apply our methodology to evaluate the evolution of child poverty in Germany after 2002, providing thus an update the portrait of child poverty in Germany given in Corak et al. 2008.
    Keywords: bayesian inference,mixture model,survey weights,zero-inflated model,poverty,inequality
    Date: 2017–03
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01494354&r=eur
  9. By: Carlino, Laurent; Coppens, François; González, Javier; Ortega, Manuel; Pérez-Duarte, Sébastien; Rubbrecht, Ilse; Vennix, Saskia
    Abstract: Analysis of consolidated accounting data of European listed groups shows significant differences in some key ratios between countries However, the figures do not reveal whether these differences result from a distinct composition of the countries’ populations in terms of branches of activity (structural effect) or from intrinsic disparities in the behaviour of groups from various countries. This paper will address this issue using ratio decomposition techniques. A comparative overview of decomposition methodologies available in the literature will be provided, as well as an in-depth description of the methodology used. This will be applied to decompose the difference in the financial debt ratio, the equity ratio and the EBIT margin across countries for one specific year and to consider any dissimilarities in financial debt ratios over a limited period of time. The study will be based on the data available in the ERICA dataset from the European Committee of Central Balance Sheet Data Offices (ECCBSO), which includes accounting data of listed groups from Austria, Belgium, France, Germany, Greece, Italy, Portugal and Spain. The aggregate ratios of each country will be compared against a benchmark composed of the aggregate ratios for the eight countries together. JEL Classification: C43, L22, L25, M4
    Keywords: decomposition analysis, decomposition techniques, financial ratios
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:ecb:ecbsps:201721&r=eur
  10. By: Hyland, Marie; Bertsch, Valentin
    Abstract: Across the EU, significant investments are being made in renewable generation and grid technologies, however, policy makers and planners are frequently met with resistance from local communities to proposed infrastructure development. Offering some form of compensation to the affected communities may reduce objections and minimise project delays. While there are numerous methods of compensating and involving local communities, evidence on which methods are most effective at increasing acceptance of infrastructure developments is scant. We therefore carry out a nationally-representative survey of Irish citizens to analyse how different compensation methods affect acceptance. Ireland is a useful case study because of its high RES-E targets. Respondents are presented with four compensation models for the local construction of a wind farm, and two for the local development of the transmission grid. While it is often reported that communities would prefer deeper levels of involvement, we find no evidence of this. Instead, we find a preference for schemes in which people receive financial compensation without sharing in the ownership and associated risks of project development. Our econometric analyses show that certain socio-demographic characteristics, for example, age and income are significant predictors of people’s acceptance under different schemes, while a person’s education level significantly predicts whether a particular compensation scheme will increase acceptance. Moreover, we find that the satisfaction with local planning procedures and the tradeoff people make between environmental sustainability and economic competitiveness consistently affect people’s attitudes. Such evidence can help policy makers better understand and design policies to minimise resistance to energy infrastructure development.
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:esr:wpaper:wp559&r=eur
  11. By: Genakos, Christos D.; Valletti, Tommaso; Verboven, Frank
    Abstract: We study the dual relationship between market structure and prices and between market structure and investment in mobile telecommunications. Using a uniquely constructed panel of mobile operators' prices and accounting information across 33 OECD countries between 2002 and 2014, we document that more concentrated markets lead to higher end user prices. Furthermore, they also lead to higher investment per mobile operator, though the impact on total investment is not conclusive. Our findings are not only relevant for the current consolidation wave in the telecommunications industry. More generally, they stress that competition and regulatory authorities should take seriously the potential trade-off between market power effects and efficiency gains stemming from agreements between firms.
    Keywords: Investments; market structure; mergers; Mobile telecommunications; prices
    JEL: K20 L10 L40 L96
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:12054&r=eur
  12. By: Kiesewetter, Dirk; Manthey, Johannes
    Abstract: This paper analyses the relationship between corporate governance and tax avoidance. We use a regression discontinuity design (RDD) in a two-stage instrumental variable and take advantage of the exogenous variation in the index membership around the DAX and MDAX threshold. We suppose the differences in corporate governance result from the valueweighted composition of the market capitalization-based indexes. We find a significant discontinuity in the level of the corporate governance characteristics at the cutoff. The largest MDAX firms show stronger corporate governance characteristics compared to the smallest DAX firms. Our analysis shows that strong corporate governance characteristics drive down the effective tax rate for the DAX firms. This paper contributes to existing research by establishing a causal relationship between governance and taxes. This research aims to highlight the wide-ranging effects of institutional investors, which channel in corporate policy, in our case tax management.
    Keywords: Tax Avoidance,Corporate Governance,RDD,Regression Discontinuity Design
    JEL: H20 H25 H26 M41 M48
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:zbw:arqudp:218&r=eur
  13. By: Alan Piper; Ian Jackson
    Abstract: This study considers life satisfaction in relation to the empty nest syndrome, which is a situation where there are feelings of loss or loneliness for mothers and/or fathers following the departure of the last child from the parental home. In particular, the investigation considers the significance of Identity Economics when applied to parents experiencing a reduction in well-being following an extended period of child-rearing. The origins of the empty nest syndrome are first considered briefly before conducting an economic analysis of life satisfaction using the German Socio-Economic Panel. Our particular focus is the change in the subjective well-being of the individuals who become empty nesters, taking advantage of the richness of this dataset. As a result, this is the first large sample economic analysis of its kind to use identity to evaluate the effects of becoming “empty nest” parents in a systematic way.
    JEL: D64 I31
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp910&r=eur
  14. By: Adriaan R. Soetevent (University of Groningen); Tadas Bruzikas (University of Groningen)
    Abstract: In the last decade, many European countries have seen a sharp increase in the number of automated fueling stations. We study the effect of this process innovation on prices at stations that are automated and their competitors using a difference-in-differences matching strategy. Our estimates show that prices at automated stations drop by 1.0 to 2.1% immediately after conversion and stabilize at this lower level. We find no indication of competitive spillover effects to neighboring sites at the conventional significance levels. Other than previous studies, our estimates do not reveal a difference in impact between early and later adopters of automation.
    Keywords: technology adoption; retail gasoline; pricing; competition
    JEL: C22 D4 L13 L81
    Date: 2017–05–10
    URL: http://d.repec.org/n?u=RePEc:tin:wpaper:20170045&r=eur
  15. By: Martin, Thorsten
    Abstract: This paper investigates whether local politicians adjust their approval of housing licenses during election times in Germany. For my research, I use a balanced Panel of 4,983 West German municipalities from 2002 to 2010. Due to the timing of local elections in Germany, I can disentangle the election effect from common time effects. My results suggest a decrease in new construction approvals for residential housing areas during election years of around 11 % evaluated at the mean, and an increase of similar magnitude in the years following the election. Furthermore, I am able to show that the decrease during election times is associated with the share of homeowners in a municipality. Hence, my research adds to the literature on political business cycles as well as to the existing literature on homevoters and their potential effect on housing policies during election times.
    Keywords: Urban development policies, land use regulations, homevoter, political business cycle, housing policies
    JEL: D72 H79 R31
    Date: 2017–05–07
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:78998&r=eur
  16. By: Kyyrä, Tomi (VATT, Helsinki); Arranz, José María (Universidad de Alcalá); García-Serrano, Carlos (Universidad de Alcalá)
    Abstract: This paper examines whether part-time work acts as a bridge towards full-time work for unemployed workers in Spain. We follow the timing-of-event approach and estimate the causal effect of part-time work on the exit rate to full-time work using a multivariate duration model. Our findings show that the exit rate to full-time work declines when working part time (lock-in effect) but increases afterwards (stepping-stone effect), implying a trade-off between the two opposite effects. The resulting net effect of part-time work on the expected time until full-time work is positive in most cases, leading to longer spells without full-time work. This undesirable effect has increased over time, so that the value of temporary part-time work as a pathway to full-time work for the unemployed has reduced.
    Keywords: part-time employment, work trajectories, unemployment duration, mixed proportional hazard model
    JEL: J64 J65
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp10770&r=eur
  17. By: Collins, Matthew; Dempsey, Seraphim; Curtis, John
    Abstract: Improving the energy efficiency of residential dwellings is seen by policy-makers as an important tool to help mitigate the impacts of climate change. Many countries, including Ireland, have put in place policies aimed at stimulating energy efficiency renovations in private households. Options to induce further retrofitting activity include the possibility of altering the structure of financial incentives on offer. At the moment, the Better Energy Homes scheme comprises a cash rebate to home owners following the completion of retrofit works. However, alterations to the incentive structure may be more or less preferred by different segments of the population. We analyse these preferences toward different financing structures. We find that the most preferred option of the choice set presented to respondents is the status quo of a post-retrofit cash rebate, followed closely by the alternative of an upfront discount.
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:esr:wpaper:wp562&r=eur
  18. By: M. Grazzi; C. Piccardo; C. Vergari
    Abstract: This paper illustrates the building procedure of a firm-level panel dataset that merges several sources of information concerning the various activities of business firms. The aim of this work is to achieve a detailed dataset able to shed light on firm demographics, in terms of survival, entry and exit processes, distinguishing between “voluntary" and “involuntary" exits. Moreover, the derived dataset allows to monitor the innovation activities of the firms and also to capture complementarities between two instruments of intellectual property rights (IPRs), namely granted patents and registered trademarks. We assess the validity of the proposed procedures resorting to the virtual universe of Italian limited liability companies as provided by Bureau van Dijk (BvD). The dataset covers more than 1 million companies operating in both manufacturing and service sectors and contain financial and economic information, as well as, among the others, the ownership structure and administrative procedures undergone by the firms, which may lead to firm exit. The main purpose of the paper is to provide a unified set of procedures to help the researcher dealing with the vast amount of information available on corporate firms and of ever increasing size. This will also facilitate the replication of empirical analyses, across researchers working on dataset with similar characteristics, although from different countries or data providers.
    JEL: C81 L60 L80 O14 O34
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:bol:bodewp:wp2003&r=eur
  19. By: Beck, Thorsten; Da-Rocha-Lopes, Samuel; Silva, Andre
    Abstract: We analyze the credit supply and real sector effects of bank bail-ins by exploiting the unexpected failure of a major bank in Portugal and its subsequent resolution. Using a unique dataset of matched firm-bank data on credit exposures and interest rates from the Portuguese credit register, we show that while banks more exposed to the bail-in significantly reduced credit supply after the shock, affected firms were able to compensate this credit contraction with other sources of funding, including new lending relationships. Although there was no loss of external funding, we observe a moderate tightening of credit conditions as well as lower investment and employment at firms more exposed to the intervention, particularly SMEs. We explain the latter real effects by higher precautionary cash holdings due to increased uncertainty.
    Keywords: Bail-ins; bank failures; credit supply; employment; investment
    JEL: E22 E24 E58 G01 G21 G28 G32
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:12058&r=eur
  20. By: Stephen Gibbons; Teemu Lyytikäinen; Henry Overman; Rosa Sanchis-Guarner
    Abstract: This paper estimates the impact of new road infrastructure on employment and labour productivity using plant level longitudinal data for Britain. Exposure to transport improvements is measured through changes in accessibility, calculated at a detailed geographical scale from changes in minimum journey times along the road network. These changes are induced by the construction of new road link schemes. We deal with the potential endogeneity of scheme location by identifying the effects of changes in accessibility from variation across small-scale geographical areas close to the scheme. We find substantial positive effects on area level employment and number of plants. In contrast, for existing firms we find negative effects on employment coupled with increases in output per worker and wages. A plausible interpretation is that new transport infrastructure attracts transport intensive firms to an area, but with some cost to employment in existing businesses.
    Keywords: productivity, employment, accessibility, transport
    JEL: D24 O18 R12
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:cep:sercdp:0214&r=eur
  21. By: Ronan C Lyons (Department of Economics, Trinity College Dublin)
    Abstract: The Great Recession starting in 2007 has refocused attention on the importance of understanding housing market dynamics as contributors to macroeconomic fluctuations. While the sale-to-rent ratio of housing prices is generally regarded as a fundamental barometer of housing market health, the study of its determinants remains in its infancy. This paper examines the housing price ratio in Ireland, during an extreme housing market cycle. Using new data on first-time buyer loan-to-value (LTV) ratios, a one-step error correction model of the housing price ratio in Ireland is presented for the first time. Covering the period 2000-2012, it finds clear evidence that, alongside user cost, credit conditions were central in determining equilibrium in the housing market, which saw rapid adjustment in the ratio in response to changes in its determinants. The results imply that an increase in the LTV by 10pp would have associated with a fall in the yield in 2012 from 5.6% to 5.2% in equilibrium. Overall, the results suggest that simplistic models of the housing price ratio, depending solely on user cost, are lacking. The importance of credit conditions is a finding with implications for other markets and for macro-prudential policy.
    Keywords: Housing markets; housing bubbles; price-rent ratio; credit conditions; Ireland.
    JEL: E32 E44 E51 G12 G21 R21 R31
    Date: 2017–03
    URL: http://d.repec.org/n?u=RePEc:tcd:tcduee:tep0717&r=eur
  22. By: Biewen, Martin (University of Tuebingen); Seckler, Matthias (University of Tübingen)
    Abstract: This paper provides a comprehensive assessment of the quantitative importance of the factors associated with the rise in male wage inequality in Germany over the period 1995–2010. In contrast to most previous contributions, we rely on the German Structure of Earnings Surveys (GSES) which allow us to focus on hourly wages (rather than daily earnings) uncensored by the social security contributions threshold. We consider a large number of covariates including personal characteristics, measures of internationalization, task composition, union coverage, industry, region, and firm characteristics. Our results suggest that recent changes in the distribution of hourly wages in Germany look different from the polarizing patterns found for the US, and that most of the observed rise in inequality was associated with compositional effects of de-unionization and personal characteristics. We also find some moderate effects linked to internationalization, firm heterogeneity and regional convergence, but these were much smaller.
    Keywords: RIF regression, reweighting, skill-biased technical change, de-unionization
    JEL: C14 J31 J51 F16
    Date: 2017–05
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp10763&r=eur
  23. By: Jean-Claude Boldrini (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - UN - Université de Nantes); Guy Caverot (société BA Systèmes); Maxime Ezequel (société BA Systèmes)
    Abstract: Open innovation has become a major topic in innovation management. Research however has mostly focused on large companies, in the area of inbound open innovation, on the technological scope or industrial protection. The topic of outbound open innovation, the processes implemented and the management practices deployed in SMEs have been less well investigated. This article aims to go some way towards filling this gap. A collaborative longitudinal case study was carried out by a researcher and two practitioners in a robotics SME. The results show the impact, mainly positive, of open innovation on the company. The functions of technological gatekeeper and “innovation project promoter”, created while the open innovation process was being established, are illustrated through the examples of previous collaborative projects and a current major research European project applied to robotics in which the company is involved.
    Abstract: L’innovation ouverte est devenue un thème majeur du management de l’innovation. La recherche s’est toutefois focalisée sur les grandes entreprises, sur l’innovation ouverte entrante (inbound), sur ses dimensions technologiques ou sur la protection industrielle. Les questions liées à l’innovation ouverte sortante (outbound), aux processus implémentés et aux pratiques managériales déployées dans les PME ont été moins investiguées. Cet article tente de combler ces lacunes. Une étude de cas longitudinale a été menée par un universitaire et deux praticiens dans une PME de robotique. Les résultats montrent que l’impact de l’innovation ouverte est essentiellement positif pour la PME. Les fonctions de technological gatekeeper et de chargé de valorisation de projets d’innovation, créées lorsque le processus d’innovation ouverte a été mis en place, sont illustrées à travers des exemples de projets collaboratifs passés et d’un important projet de recherche européen en robotique, actuellement en cours, et dans lequel la PME est impliquée.
    Keywords: Inbound open innovation,outbound open innovation,innovation process implementation,SMEs,collaborative projects,Innovation ouverte entrante,innovation ouverte sortante,implémentation de processus d’innovation,PME,projets collaboratifs
    Date: 2017–04–06
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01502720&r=eur

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