Learn More
To better understand the factors that support or inhibit internally focused change, we conducted an inductive study of one firm's attempt to improve two of its core business processes. Our data suggest that the critical determinants of success in efforts to learn and improve are the interactions between managers' attributions about the cause of poor(More)
It is well known that vertical integration can change an upstream produc-er's incentive to supply the integrated …rm's downstream rivals. However, it has not been noticed that vertical integration also changes these rivals' incentives to choose suppliers. This paper develops an equilibrium theory of vertical merger that incorporates strategic behaviors in(More)
  • JEAN IMBS, HARON MUMTAZ, +15 authors ÉS REÁL-ÁRFOLYAM
  • 2002
KTK/IE Discussion Papers are circulated to promote discussion and provoque comments. Any references to discussion papers should clearly state that the paper is preliminary. Materials published in this series may subject to further publication. the IMF and the ESRC Money-Macro Finance conference in Warwick for helpful comments. Parts of this paper were(More)
This paper attempts to provide a conceptual framework for the analysis of counterfactual scenarios using macroeconometric models. As an application we consider UK entry to the euro. Entry involves a long-term commitment to restrict UK nominal exchange rates and interest rates to be the same as those of the euro area. We derive conditional probability(More)
This paper is concerned with the estimation of New Keynesian Phillips Curves (NKPC) and focusses on two issues: the weak instrument problem and the characterisation of the steady states. It proposes some solutions from a global perspective. Using a global vector autoregressive model (GVAR) steady states are estimated as long-horizon expectations and valid(More)
This paper provides an empirical analysis of changes in real house prices in the US using State level data. It examines the extent to which real house prices at the State level are driven by fundamentals such as real per capita disposable income, as well as by common shocks, and determines the speed of adjustment of real house prices to macroeconomic and(More)
In 2010 all ECB publications feature a motif taken from the €500 banknote. 1 For Stephane Dees, the views expressed in this paper do not necessarily reflect the views of the European Central Bank or the Eurosystem. The other authors are grateful to the European Central Bank for financial support. We benefited from comments on preliminary versions of the(More)
This paper attempts to provide a conceptual framework for the analysis of counterfactual scenarios using macroeconometric models. As an application we consider UK entry to the euro. Entry involves a long-term commitment to restrict UK nominal exchange rates and interest rates to be the same as those of the euro area. We derive conditional probability(More)