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A Game-Theoretic Approach to the Roundwood Market with Capital Stock Determination
(Valtion taloudellinen tutkimuskeskus VATT, 1996-01-01)
The paper provides a framework to approach price and quantity determination in the roundwood market from a slightly new perspective. In the spirit of the trade union literature, a model of timber price determination is ...
Bank Mergers, Interest Rates and the Fragility of Loan Markets
(Valtion taloudellinen tutkimuskeskus VATT, 1996-01-01)
We model the interaction between the concentration of the banking sector and the investment strategies of imperfectly competitive firms in the product market to address the question of whether competition makes loan markets ...
Government Size and Output Volatility: New International Evidence
(Valtion taloudellinen tutkimuskeskus VATT, 2004-07-08)
This paper re-examines the relationship between government size and output volatility from two perspectives. First, we use a wider international data set of 91 countries over the period 1980–1999 and thus not only the OECD ...
Is There a Laffer Curve Between Output and Public Sector Employment?
(Valtion taloudellinen tutkimuskeskus VATT, 1999-01-01)
This paper develops a model of the relationship between public sector employment, total output and aggregate real demand in market prices, where public employment has a positive productivity effect on private output and ...