Browsing Working Papers (ECON) by Title
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Bennedsen, Morten; Nielsen, Kasper (København, 2002)[More information][Less information]
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Filges, Trine; Larsen, Birthe (København, 2001)[More information][Less information]
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Scheuer, Christian; Sørensen, Anders; Rosholm, Michael (København, 2007)[More information][Less information]
Abstract: This paper investigates the impact of globalization, in the sense of increasing international trade, on the demand for skills in Danish manufacturing companies. The study is based on a unique data set that enables us to develop rich measures of international outsourcing and import penetration. Moreover, the data also allows several strategies to strengthen the causal interpretation of our results. The main finding of the analysis is that it is of crucial importance to distinguish imports - both in the form of outsourcing and overall imports - by country-of-origin. We find that international trade with low-wage countries leads to skill-upgrading. This is especially pronounced for import penetration with a ceteris paribus contribution of around fifty percent to skill-upgrading. Moreover, we find that import penetration in goods originating from high-wage countries lead to skill-downgrading. This latter result suggests that Danish manufacturing has comparative advantage in skillintensive production when compared to low-wage countries, but in unskill-intensive production when compared to high-wage countries. Skill-upgrading, Low-wage country outsourcing, Low-wage country import penetration, Comparative advantage URI: http://hdl.handle.net/10398/7625 Files in this item: 1
wp8-2007.pdf (532.1Kb) -
Sørensen, Morten (København, 1998)[More information][Less information]
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Blomgren-Hansen, Niels; Møllgaard, H. Peter (København, 1998)[More information][Less information]
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Abstract: Based on diverse research methods, we trace and map industrial economics research in Denmark, Norway and Sweden in the periode of 1880 to 1908. After describing this research in terms of key contributors, we argue that industrial economics developed rather unevenly in the Scandinavian countries. Danish research was mainly theoretical and strongly oriented towards the international context, whereas Norwegian research was largely industry analysis with a strong leaning towards managerial economics. Swedish research in industrial economics is very scant until the end of the 1960s. JEL Code: B1, B2, B3, D2, D4, L1, L2, L4 URI: http://hdl.handle.net/10398/7539 Files in this item: 1
wpec182004.pdf (1.490Mb) -
Kolm, Ann-Sofie; Larsen, Birthe (Frederiksberg, 2011)[More information][Less information]
Abstract: This paper develops a four sector equilibrium search and matching model with informal sector employment opportunities and educational choice. We show that underground activities reduce educational at- tainments if informal employment opportunities mainly are available to low educated workers. More zealous enforcement policy will in this case improve educational incentives as it reduces the attractiveness of remaining a low educated worker. Characterizing the optimal enforce- ment policies, we nd that relatively more audits should be targeted towards the sector employing low educated workers, elsewise a too low stock of educated workers is materialized. URI: http://hdl.handle.net/10398/8328 Files in this item: 1
Kolm_Larsen_WP_2-2011.pdf (309.1Kb) -
Bennedsen, Morten; Feldmann, Sven E. (København, 2000)[More information][Less information]
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Overgaard, Per Baltzer; Møllgaard, Peter (København, 2005)[More information][Less information]
Abstract: In the economics literature, various views on the likely (efficiency) effects of information exchange, communication between firms and market transparency present themselves. Often these views on information flows are highly conflicting. On the one hand, it is argued that increased information dissemination improves firm planning to the benefit of society (including customers) and/or allows potential customers to make the right decisions given their preferences. On the other hand, the literature also suggests that increased information dissemination can have significant coordinating or collusive potential to the benefit of firms but at the expense of society at large (mainly, potential customers). In this chapter, we try to make sense of these views, with the aim of presenting some simple lessons for antitrust practice. In addition, the chapter presents some cases, from both sides of the Atlantic, where informational issues have played a significant role. URI: http://hdl.handle.net/10398/7533 Files in this item: 1
wp13-2005.pdf (321.1Kb) -
Samfundsøkonomisk analyse af anbefalingerne i "Report of the high level group of company law experts on issues related to takeover bids" (winter-rapporten)Bennedsen, Morten; Nielsen, Kasper (København, 2002)[More information][Less information]
Abstract: Winter-rapporten identificerer to grundlæggende principper. 1) Proportionalitetsprincippet: Der skal være proportionalitet mellem den ultimative økonomiske risiko, som investorer påtager sig, og den kontrol disse opnår i virksomheden. 2) Aktionærprincippet: I tilfælde af et overtagelsesforsøg skal den ultimative beslutningsret ligge hos aktionærerne. I afsnit 1.1 analyseres hvor synlige disse to principper er i praksis i Danmark. Det vurderes at proportionalitetsprincippet ikke er implementeret. Det påvises at minimum halvdelen af de børsnoterede danske virksomheder har organiseret sig med flere aktieklasser og/eller begrænsinger på ejerskab eller stemmeafgivelsen. Graden af hvor meget anvendelsen af aktieklasser bryder med proportionalitetsprincippet, afhænger af, hvor stor en del af aktiemassen de kontrollerende aktionærer besidder. Vi påviser, at for virksomheder med flere aktieklasser bliver brugen af forskellige aktieklasser en mekanisme til at implementere en koncentreret kontrolstruktur uden at have en tilsvarende koncentreret cash flow fordeling. I Danmark har aktionærerne den endelige beslutningskompetence i forbindelse med et overtagelsesforsøg, hvorfor aktionærprincippet som udgangspunkt er implementeret. Ligeledes implicerer den koncentrerede kontrolstruktur, at kontrollerende aktionærer vil have reel indflydelse i en given overtagelsessituation. Det påpeges dog at der kan være grupper af ikke-kontrollerende aktionærer med betydelige andele af aktiemassen, der reelt holdes udenfor beslutningsprocessen i forbindelse med virksomhedsovertagelser. I afsnit 1.2 til 1.4 analyseres sammenhængen mellem de to principper og beskyttelsen af investorer i Danmark. En fuldstændig indførelse af proportionalitetsprincippet vil føre til betydelige organisationsændringer i mange danske børsnoterede virksomheder. En konsekvent gennemførelse af aktionær- og proportionalitetsprincippet vil markant øge beskyttelsen af ikke-kontrollerende aktionærgrupper i Danmark. Ligeledes formodes det at mindske de nuværende kontrollerende aktionærers kontrol med virksomhederne og i yderste fald ændre på hvilke aktionærgrupper, der er kontrollerende, og hvilke der er ikke-kontrollerende. Derudover er det et åbent spørgsmål, om f.eks. medarbejderrepræsentation er konsistent med proportionalitetsprincippet. Det vurderes at en reel gennemførelse af de to principper vil øge niveauet for investorbeskyttelse i Danmark, selvom denne størrelse er vanskeligt at definere. Det vurderes at beskyttelsen af investorer i Danmark er ringere end i lande som vi normalt sammenligner os med. Ved en øgning af dette niveau vil der opnås en række positive effekter især på aktiviteten på kapitalmarkedet. URI: http://hdl.handle.net/10398/7518 Files in this item: 1
wpec152002.pdf (401.4Kb) -
Filges, Trine; Larsen, Birthe (Århus, 2000)[More information][Less information]
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konsekvenser af at harmonisere selskabslovgivningen i EuropaBennedsen, Morten; Dam, Thea; Herby, Jonas; Nielsen, Kasper (, 2003)[More information][Less information]
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Abstract: According to the Competition Act, a merger that impedes eective competition signi cantly, in particular by creating or strengthening a dominant postition, shall be prohibited. To decide whether this is the case the authorities need a quanti able model of the relationship between the variables that are directly aected by the merger and some measure of competition. In this paper we set up and calibrate a simple model of the interaction of the retail and the wholesale markets for high-end cosmetics in Denmark based on the Matas case. The model predicts that the acquisition of Matas - comprising roughly half of the market for high end cosmetics - may have a significant on retail prices and that the authorities had good reasons for making its approval conditioned on the removal of a number of contract-based barriers to entry. Analytically the main results are: (1) In a linear model with constant marginal costs the optimal wholesale prices are unexpected by the structure in the retail sector. (2) The ect on of buyer-power induced quantity dioscounts depends on the speci c design of the scheme: A relative discount on the list price the independent shops are charged increases the average retail price; A xed reduction relative to the pre-merger price reduces the average retail price). (3) Buyer-power induced retail price maintenance (RPM) increases the average retail price. RPM increases the competitiveness and pro ts of the merged shops if producers keep whole-sale prices unchanged. If, however, the producers adjust their wholesale prices, then RMP hurts merged and independent shops alike and benefits only the producers. URI: http://hdl.handle.net/10398/7516 Files in this item: 1
wp6-2007.pdf (422.4Kb) -
befolkning, arbejdsstyrke, beskæftigelse, erhvervLund, Lars (København, 1998)[More information][Less information]
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priser og realindkomstLund, Lars (København, 1999)[More information][Less information]
Abstract: Real income on Bornholm is described by comparing the region with the capital area and the country. Region specific prices are constructed for housing expenditure and for services. Weights for these parts of household budgets and the residual are found from panel surveys of household consumption. Relative prices of the consumption bundle for each year in the period 1987 to 1996 are found for both those who own there dwelling and those who rent it. Median incomes for entrepreneurs, employees and workers are constructed. Combining data on incomes and on relative prices gives estimates of real incomes. The result is that households of employed persons are relatively rich on Bornholm during the period. URI: http://hdl.handle.net/10398/7609 Files in this item: 1
1999_7.pdf (233.2Kb) -
Lund, Lars (København, 2000)[More information][Less information]
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arbejdsmarkedet på Bornholm 1987 til 1996Lund, Lars (København, 2000)[More information][Less information]
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Lund, Lars (København, 2006)[More information][Less information]
Abstract: A new local government structure is announced for Greenland from 2009. If the reform is carried through, Nanortalik the most southerly town will come together with Qaqortoq, then the new centre, and Narsaq. A suggestion by the mayor of Nanortalik about the number of civil servants that should move to the centre is the basis for calculating the potential loss of gross income (wages and profits) in the first years of the reform. With the civil servants follow some adults and children. On top of the direct loss of income come derived losses determined by a multiplier process. The size of the multiplier is estimated to be around 1,25. This is based on assumptions about income levels, expenditure patterns, and local income parts of sales. Full implementation of the reform could mean a loss of 5 plus percent of gross income. If other probable losses (e.g. fewer elected members of the local authority) are added in, the loss could rise to more than 7 percent. Tax rates are assumed not to be lowered by the departure of civil servants to the centre. To the contrary an increase in the tax rate for Nanortalik is envisaged as this small town in these years enjoys an advantage from taxing local people and foreign skilled workers operating a nearby gold mine. It is stressed that the paper doesn’t evaluate the proposal for a reform, neither for the South of Greenland nor for Greenland as a whole. It is about possible very short term local effects URI: http://hdl.handle.net/10398/7521 Files in this item: 1
wp3-2006.pdf (346.9Kb) -
Labour Market Implications of a Compressed Wage Structure when Education and Training are EndogenousMalchow-Møller, Nikolaj; Skaksen, Jan Rose (København, 2003)[More information][Less information]
Abstract: We consider the economic implications of a compressed wage structure which is exogenously determined by institutions. An important feature of our analysis is that human capital is endogenous and can be achieved either as formal education or as informal training within firms after entering the labour market. While institutional wage compression decreases the incentives of individuals to become educated, it increases the incentives of firms to invest in training. As a result, the net effects of wage compression on the aggregate human capital level and GDP are ambiguous. Moreover, with wage compression, a skillbiased technological change may cause wage inequality to decrease. Keywords: Wage compression, training, education, inequality, institutions, skill-biased technological change. JEL: I21, J31, J5, O33. URI: http://hdl.handle.net/10398/7574 Files in this item: 1
cebr dp 2003-09.pdf (267.7Kb) -
Larsen, Birthe; Waisman, Gisela (Frederiksberg, 2012)[More information][Less information]
Abstract: We examine the impact of discrimination on labour market performance when workers are subject to a risk of losing skills during the experience of unemployment. Within a search and matching model, we show that all natives and immigrants are affected by discrimination. Discrimination in one sector has positive spillovers, inducing employment increases in the other sector. Discrimination may induce immigrants to train more or less than natives, depending on the sector where it is present. Welfare tends to be most negatively affected by discrimination among highproductivity workers. URI: http://hdl.handle.net/10398/8520 Files in this item: 1
Larsen_Waisman_wp2012-5.pdf (374.6Kb)