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Frictionless Commerce (1 results)
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- Firm Investment And Financial frictions
- This paper investigates the analytical and empirical linkages between firms' capital investment behavior and financial market frictions. The empirical approach constructs measures of own- and market-specific uncertainty from firms' daily stock returns and S&P 500 index returns along with a CAPM-based risk measure. The results indicate that even in the...
- White papers 2007-04-24
- Contractual frictions And Global Sourcing
- This paper explains the model of international organization of production in order to accommodate varying degrees of contractual frictions. In particular, we allow the degree of contractibility to vary across inputs and countries. A continuum of firms with heterogeneous productivities decides whether to integrate or outsource the production of intermediate...
- White papers 2006-11-22
- Global Logistics Indicators, Supply Chain Metrics, And Bilateral Trade Patterns
- Past research into determinants of international trade highlighted the importance of the basic spatial gravity model augmented by additional variables representing sources of friction. Studies modeled many sources of friction using various proxies, including indices based on expert judgment in some cases. This paper focuses on logistics friction and draws...
- White papers 2005-10-10
- Trade Responses to Geographic frictions: A Decomposition Using Micro-Data
- A large literature has shown that geographic frictions reduce trade, but has not clarified precisely why. This paper provides insights into why such frictions matter by examining which parts of trade these frictions reduces most. Using data that tracks manufacturers' shipments within the United States on an exceptionally fine grid,...
- White papers 2005-05-01
- Can friction Spur Innovation?
- At PC Forum 2005, scientist John Seely Brown and business strategist John Hagel talk to Esther Dyson about 'productive friction' and how it can harnessed to create value in IT. (runtime: 9 minutes 29 seconds)
- White papers 2005-04-13
- Investor Protection and Business Creation
- This paper studies the effects of investor protection on the availability of external finance, entrepreneurship, and creation of new firms in an equilibrium search model of private capital markets. In addition to search frictions, it examines contract frictions, specifically interim and ex post moral hazard problems stemming from entrepreneurs' possibilities...
- White papers 2003-12-08
- Bank Lending, Credit Shocks, and the Transmission of Canadian Monetary Policy
- The authors use a dynamic general-equilibrium model to study the role financial friction play as a transmission mechanism of Canadian monetary policy, and to evaluate the real effects of exogenous credit shocks. Financial frictions, which are modelled, as spreads between deposit and loan interest rates, are assumed to depend on...
- White papers 2003-04-01
- Credit frictions and Sudden Stops in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises
- Financial frictions are a central element of most of the models that the literature on emerging markets crises has proposed for explaining the Sudden Stop phenomenon. To date, few studies have aimed to examine the quantitative implications of these models and to integrate them with an equilibrium business cycle framework...
- White papers 2002-09-01
- Credit frictions and Sudden Stops in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises
- Financial frictions are a central element of most of the models that the literature on emerging markets crises has proposed for explaining the 'Sudden Stop' phenomenon. To date, few studies have aimed to examine the quantitative implications of these models and to integrate them with an equilibrium business cycle framework...
- White papers 2002-04-01
- Influence of Supporting Base Characteristics on Shrinkage-Induced Stresses in Concrete Pavements
- This paper presents an analytical model for prediction of shrinkage-induced stresses and displacements in concrete pavements due to the restraint of the supporting base. The model relies upon the interfacial friction stress transmitted between the slab and base as the fundamental mechanism of restraint provided by the base when concrete...
- White papers 2001-09-27
Additional Resources
- Earthquake friction Dampers
- This paper discusses Earthquake friction dampers which reduce the problems created by dependence on structural ductility by dissipating most of the seismic energy mechanically, independent of the primary structure. This makes the design of damage-free structures economically possible. Unlike traditional concrete shear walls, earthquake friction dampers do not have to...
- White papers
- A Functional Woven Fabric With Controlled friction Coefficients Preventing Bedsores
- This article presents the design and manufacture of a double-layer woven fabric with different friction coefficients on the right and left sides of the fabric, and additional of the friction coefficient differentiated by direction of the fabric. Cotton and viscose yarns have been used as raw materials for the production...
- White papers 2004-09-01
- A Comparative Study on Aseismic Performances of Base Isolation Systems for Multi-Span Continuous Bridge
- The recommended ranges of the design parameters are presented in this study. The design parameters such as the first natural period of the isolated bridge and the friction coefficient of the bearing are determined by the reciprocal relationship between the peak deck displacement and the peak overturning moment of the...
- White papers 2002-02-04
- Inflation Expectations and Learning about Monetary Policy
- The authors embed, within a standard monetary dynamic stochastic general-equilibrium model, an information friction and a learning mechanism regarding the interest-rate-targeting rule that monetary policy authorities follow. The learning mechanism enables optimizing economic agents to distinguish between transitory shocks to the policy rule and occasional shifts in the inflation target...
- White papers 2002-10-01
- Income Dispersion, Asymmetric Information And Fluctuations In Market Efficiency
- The idea that information frictions amplify business cycles is hard to evaluate be-cause information is not easily measured. We propose a quantifiable information friction that amplifies output fluctuations. In our simple model of decentralized trade, income dispersion measures uncertainty about buyer characteristics. Counter-cyclical income dispersion makes the asymmetric information friction...
- White papers 2006-09-22
- Automate Sales Cycle friction Points To Accelerate Your Sales People
- Do your sales people spend too much time at their desks drowning in paperwork? By automating the friction points that slow them down, you can help them spend more time building relationships with prospects and customers. How? Through Technology-Enabled Selling (TES). TES applications are designed to connect groups of users...
- White papers 2003-01-01
- Efficiency Wages, Financial Market Integration, And The Fiscal Multiplier
- The authors have used a "New-open-economy macroeconomics" model featuring a labor-market friction in the form of efficiency wages to analyze the implication of financial market integration for the fiscal multiplier. The fiscal multiplier measures the accumulated effects of fiscal policy on output. Conventional wisdom based on the classic Mundell-Fleming model...
- White papers 2007-02-13
- The Moving friction Cone Approach for Three-Dimensional Contact Simulations
- A finite element contact approach based on the Moving Friction Cone (MFC) formulation is presented herein. The formulation is based on the contact constraint described using a single gap vector. Such a simplification, in comparison with the standard approach where normal and tangential gap vectors are used, results in significantly...
- White papers 2004-02-06
- Why Don't More Companies Use Prediction Markets?
- Why Don't More Companies Use Prediction Markets?Prediction Markets can be effectiveOur company, BitInsight, utilizes prediction markets as a component of a consulting services offering. Our experience supports your 3 obstacles to enterprise adoption: lack of familiarity with the concept, internal friction, and implementation issues. The first and...
- Discussion threads 2008-04-28
- Input Specificity And Global Sourcing
- This paper investigates the role of productivity on a firm's organizational choice. We set up an industry-equilibrium model in which heterogeneous firms concurrently choose their type of inputs, ownership structure and location of production. In choosing their type of inputs, firm's trade o the extra customization costs of adopting generic...
- White papers 2006-05-09
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