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  • 1.
    Ahlberg, Joakim
    Örebro University, Örebro University School of Business.
    Multi-unit common value auctions: theory and experiments2012Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    Research on auctions that involve more than one identical item for sale was,almost non-existing in the 90’s, but has since then been getting increasing attention. External incentives for this research have come from the US spectrum, sales, the European 3G mobile-phone auctions,  and Internet auctions. The policy relevance and the huge amount of money involved in many of them have helped the theory and experimental research advance. But in auctions where values are equal across bidders, common value auctions, that is, when the value depends on some outside parameter, equal to all bidders, the research is still embryonic.

    This thesis contributes to the topic with three studies. The first uses a Bayesian game to model a simple multi-unit common value auction, the task being to compare equilibrium strategies and the seller’s revenue from three auction formats; the discriminatory, the uniform and the Vickrey auction. The second study conducts an economic laboratory experiment on basis of the first study. The third study comprises an experiment on the multi-unit common value uniform auction and compares the dynamic and the static environments of this format.

    The most salient result in both experiments is that subjects overbid. They are victims of the winner’s curse and bid above the expected value, thus earning a negative profit. There is some learning, but most bidders continue to earn a negative profit also in later rounds. The competitive effect when participating in an auction seems to be stronger than the rationality concerns. In the first experiment, subjects in the Vickrey auction do somewhat better in small groups than subjects in the other auction types and, in the second experiment, subjects in the dynamic auction format perform much better than subjects in the static auction format; but still, they overbid.

    Due to this overbidding, the theoretical (but not the behavioral) prediction that the dynamic auction should render more revenue than the static fails inthe second experiment. Nonetheless, the higher revenue of the static auction comes at a cost; half of the auctions yield negative profits to the bidders, and the winner’s curse is more severely widespread in this format. Besides, only a minority of the bidders use the equilibrium bidding strategy.The bottom line is that the choice between the open and sealed-bid formats may be more important than the choice of price mechanism, especially in common value settings.

    List of papers
    1. Analysis of discrete multi-unit, common value auctions: a study of three sealed-bid mechanisms
    Open this publication in new window or tab >>Analysis of discrete multi-unit, common value auctions: a study of three sealed-bid mechanisms
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    This paper proposes a discrete bidding model for both quantities and pricing. It has a two-unit demand environment where subjects bid for contracts with an unknown redemption value, common to all bidders. Prior to bidding, the bidders receive private signals of information on the (common) value. The value and the signals are drawn from a known discrete affiliated joint distribution. The relevant task for the paper is to compare the equilibrium strategies and the seller’s revenue of three auction formats. We find that, of the three auctionformats below with two players, the discriminatory auction always gives the largest revenue to the seller; both the uniform and the Vickrey auction have zero revenue equilibrium strategies that put them further down in the revenue ranking. In equilibrium, bidders bid the same amount on both items in the discriminatory auction; a phenomenon not noted in either of the other auction formats.

    Keywords
    Laboratory Experiment; Multi-Unit Auction; Common Value Auction
    National Category
    Economics and Business
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-26445 (URN)
    Available from: 2012-11-16 Created: 2012-11-16 Last updated: 2017-10-17Bibliographically approved
    2. Multi-unit common value auctions: a laboratory experiment with three sealed-bid mechansims
    Open this publication in new window or tab >>Multi-unit common value auctions: a laboratory experiment with three sealed-bid mechansims
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    This study addresses a discrete common value environment with independent (one-dimensional) private signals, where the seller offers two identical units and the buyers have (flat) demand for both. Each session is conducted with2, 3 or 4 buyers. Three auction formats are used: the discriminatory, uniformand Vickrey auctions which are all subjected to a variation in the number of bidders and to repeating bid rounds on each subject. The main findings are that there are no significant differences between the uniform and the discriminatory auction in collecting revenue, while the Vickrey auction comes out as inferior. More bidders in the auction result in a greater revenue and level out the performance across the mechanisms. Demand reduction is visible in the experiment, but it is not as prominent as anticipated. Moreover, subjects come closer to equilibrium play over time. Finally, the winner’s curse is less severe than what is reported for inexperienced bidders in other studies.

    Keywords
    Laboratory Experiment, Multi-Unit Auction, Common Value Auction
    National Category
    Economics and Business
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-26446 (URN)
    Available from: 2012-11-16 Created: 2012-11-16 Last updated: 2017-10-17Bibliographically approved
    3. Multi-unit common value auctions: an experimental comparison between the static and the dynamic uniform auction
    Open this publication in new window or tab >>Multi-unit common value auctions: an experimental comparison between the static and the dynamic uniform auction
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    It is still an open question whether the dynamic or the static format should be used in multi-unit settings, in a uniform price auction. The present study conducts an economic experiment in a common value environment, where it is found that it is more a question of whether the auctioneer wants to facilitate price discovery, and thereby lessen the otherwise pervasive overbidding, or if only the revenue is important. The experiment in the present paper provides evidence that the static format gives a significantly greater revenue than the dynamic auction, in both small and large group sizes. But a higher revenue comes at a cost; half of the auctions in the static format yield negative profits to the bidders, the winner’s curse is more severely widespread in the static auction, and only a minority of the bidders use the equilibrium bidding strategy.

    Keywords
    Laboratory Experiment, Multi-Unit Auction, Common Value Auction
    National Category
    Economics and Business
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-26447 (URN)
    Available from: 2012-11-16 Created: 2012-11-16 Last updated: 2017-10-17Bibliographically approved
  • 2.
    Aranki, Ted N.
    Örebro University, Department of Business, Economics, Statistics and Informatics.
    Wages, unemployment and regional differences: empirical studies of the Palestinian labor market2006Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis consists of four essays analyzing wages, unemployment and regional differences in the Palestinian labor market.

    Paper [I] investigates the effects of the Israeli closure policy on Palestinian wage earnings. Closure has a significant impact on the Palestinian labor force in the West Bank and Gaza Strip. However, the effect differs between the two regions. The estimated models show that closure affects the Gaza Strip more than the West Bank. This could indicate that external closure is more damaging than internal closure. The reason is that external closure has been more strictly enforced in the Gaza Strip compared to the West Bank, which has suffered from a more severe internal closure.

    Paper [II] examines the effects of foreign workers on labor market outcomes for Palestinian workers from the West Bank and Gaza Strip. The data covers the period 1999-2003, a period in which Israel enforced a strict closure on labor (and goods) movement. The evidence suggests that foreign workers in Israel do not affect Palestinian employment; however, an increase in the number of foreign workers in Israel tends to reduce Israeli wages paid to Gazans. The Israeli closure policy appears to be the main cause of the substantial reduction in long-run Palestinian employment levels in Israel, not the presence of foreign workers.

    Paper [III] (co-authored with Yousef Daoud) investigates the determinants of unemployment duration in the Palestinian territories. This paper is the first study analyzing unemployment duration for Palestinian males; it covers a sensitive period (1999-2003) which in part witnessed a sharp increase in unemployment resulting from the closure of the Israeli labor market to many Palestinians. Non-parametric, semi-parametric, and full parametric methods were used to investigate the importance of individual and local labor market characteristics. The results indicate no significant differences between semi- and full-parametric methods. The Intifada has significantly lowered the hazard rate throughout the Palestinian territories, however, more so for the West Bank than the Gaza Strip. The probability of leaving unemployment is substantially lower in Gaza. Thus, the risk of long-term unemployment for individuals becoming unemployed is higher in that region.

    Paper [IV] estimates the economic returns to schooling in the Palestinian territories, and examines the relationship between household characteristics and the returns received by male household members in the labor market. The basic findings are that the economic returns to schooling are very low. Yet, the least-square estimate of the economic returns to schooling in Palestine is overestimated because of omitted unobservable household characteristics from the wage-schooling relationship. This is true even after correcting for measurement error in the schooling variable. The measurement-error-corrected least-square estimator of the returns to schooling is overestimated by 32 percent. Nevertheless, the omitted variable bias is of different magnitude in the West Bank and the Gaza Strip. In fact, the least-square estimator of the returns to schooling in the West Bank is more biased upwards, due to omitted unobservable household characteristics, than measurement error biases the estimated returns downwards. The results for the Gaza Strip indicate on the contrary no such bias, as the upward bias due to omitted variables is roughly offset by the attenuation bias due to errors in the measurement of schooling.

    List of papers
    1. The effect of Israeli closure policy on wage earnings in the West bank and Gaza strip
    Open this publication in new window or tab >>The effect of Israeli closure policy on wage earnings in the West bank and Gaza strip
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    This paper analyzes the effects of the Israeli closure policy on the Palestinian wage earnings. The study decomposes the effect on the average daily wages, days worked, and employment. It also illuminates the distributional impacts on different groups in the economy with respect to potential heterogeneous effects on daily wages and days worked. Closure has a negative and significant effect on the wages, workdays, and employment outcome in the West Bank and Gaza Strip. The effect differs between the two regions. The external closure appears to have been more detrimental for residents in the Gaza Strip relative to West Bankers. Furthermore, the Israeli demand for Gazan workers appears to have diminished, indicating an Israeli policy of political and economic separation of the Gaza Strip.

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3075 (URN)
    Available from: 2006-05-09 Created: 2006-05-09 Last updated: 2017-10-18Bibliographically approved
    2. The impact of foreign workers in Israel on the Palestinian labor market
    Open this publication in new window or tab >>The impact of foreign workers in Israel on the Palestinian labor market
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3076 (URN)
    Available from: 2006-05-09 Created: 2006-05-09 Last updated: 2017-10-18Bibliographically approved
    3. Unemployment duration in the Palestinian territories: an analysis of personal and political factors
    Open this publication in new window or tab >>Unemployment duration in the Palestinian territories: an analysis of personal and political factors
    2011 (English)In: Progress in economic research: volume 21 / [ed] Thomas L. Wouters, Hauppauge, NY: Nova Science Publishers, Inc., 2011, p. 107-132Chapter in book (Other academic)
    Place, publisher, year, edition, pages
    Hauppauge, NY: Nova Science Publishers, Inc., 2011
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3077 (URN)978-1-61122-808-3 (ISBN)
    Available from: 2006-05-09 Created: 2006-05-09 Last updated: 2017-10-18Bibliographically approved
    4. The effect of household characteristics when estimating the economic returns to schooling in the Palestinian labor market
    Open this publication in new window or tab >>The effect of household characteristics when estimating the economic returns to schooling in the Palestinian labor market
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3078 (URN)
    Available from: 2006-05-09 Created: 2006-05-09 Last updated: 2017-10-18Bibliographically approved
  • 3.
    Arvidsson, Sara
    Örebro University, Swedish Business School at Örebro University.
    Essays on asymmetric information in the automobile insurance market2010Doctoral thesis, comprehensive summary (Other academic)
    List of papers
    1. Does private information affect the insurance risk?: evidence from the automobile insurance market
    Open this publication in new window or tab >>Does private information affect the insurance risk?: evidence from the automobile insurance market
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15375 (URN)
    Available from: 2011-04-26 Created: 2011-04-26 Last updated: 2017-10-17Bibliographically approved
    2. Predictors of customer loyalty in automobile insurance: the role of private information in risky driving behavior and claim history
    Open this publication in new window or tab >>Predictors of customer loyalty in automobile insurance: the role of private information in risky driving behavior and claim history
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15376 (URN)
    Available from: 2011-04-26 Created: 2011-04-26 Last updated: 2017-10-17Bibliographically approved
    3. Traffic violations and insurance data: a note on the role of age, gender, annual mileage and vehicle brand
    Open this publication in new window or tab >>Traffic violations and insurance data: a note on the role of age, gender, annual mileage and vehicle brand
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15377 (URN)
    Available from: 2011-04-26 Created: 2011-04-26 Last updated: 2017-10-17Bibliographically approved
    4. Reducing asymmetric information with usage-based automobile insurance
    Open this publication in new window or tab >>Reducing asymmetric information with usage-based automobile insurance
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15378 (URN)
    Available from: 2011-04-26 Created: 2011-04-26 Last updated: 2017-10-17Bibliographically approved
    5. Voluntary internalization of speeding externalities
    Open this publication in new window or tab >>Voluntary internalization of speeding externalities
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15379 (URN)
    Available from: 2011-04-26 Created: 2011-04-26 Last updated: 2017-10-17Bibliographically approved
  • 4.
    Bandick, Roger
    Örebro University, Department of Business, Economics, Statistics and Informatics.
    Multinationals, employment and wages: microeconomic evidence from Swedish manufacturing2008Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    The aim of this thesis, consisting of four essays, is to study the effects of multinationals and inward FDI on employment and wage formation in Swedish manufacturing during the 1990s.

    Paper [1] (co-authored with Patrik Karpaty) investigates the employment effects of foreign acquisitions in acquired firms in Swedish manufacturing during the 1990s. To handle likely endogeneity problems we evaluate the effects of foreign acquisitions on the targeted firms’ employment by combining propensity score matching with difference-in-difference estimation. We find some evidence of positive employment effects in firms taken over by foreigners and it seems that the employment of skilled labor increases more than that of less-skilled labor. Moreover, we examine whether the employment impact of foreign ownership differs between takeovers of Swedish MNEs and non-MNEs. Our results indicate that the positive employment effects only appear in acquired non-MNEs. Furthermore, we observe shifts in skill intensities toward higher shares of skilled labor in non-MNEs taken over by foreign MNEs, but not in acquired Swedish MNEs.

    Paper [2] (co-authored with Pär Hansson) investigates whether the increased foreign ownership in Sweden in the 1990s have had any effects on relative demand for skilled labor. Estimating relative labor demand at the firm level and using propensity score matching with difference-in-difference estimation, we obtain support for relative demand for skilled labor tending to rise in non-multinationals (non-MNEs)  but not in multinationals (MNEs)  that become foreign owned. Other interesting findings are that a larger presence of foreign MNEs in an industry appears to have a positive impact on the relative demand for skills in Swedish MNEs within the same industry and that the elasticity of substitution between skilled and less-skilled labor seems to be lower in MNEs than in non-MNEs.

    Paper [3] investigates whether MNEs are more likely than non-MNEs to close down their plants, due to their footloose character. The results from using a panel of all Swedish manufacturing plants over the period 1993 and 2002 suggest that MNE plants, and in particular Swedish MNE plants, have a higher probability of exiting the market than non-MNE plants. The outcome is robust controlling for other variables affecting the survival rates. Among non-MNE plants, the probabilities of exit are higher in non-exporting firms than in exporting firms. Moreover, the increased foreign presence in Swedish manufacturing seems, due to intensified competition, to have led to the higher exit rates of plants in non-exporting non-MNEs. Plants of globally engaged indigenous firms, such as plants of Swedish MNEs and exporting non-MNEs, appear, on the other hand, to have been unaffected by the increased foreign presence.

    Paper [4] examines whether MNEs  Swedish MNEs and foreign-owned firms  pay higher wages than non-MNEs in manufacturing, controlling for firm heterogeneity and individual characteristics. In accordance with the idea that MNEs are superior in performance to other firms, I find that MNEs pay higher wages than non-MNEs, in particular for skilled labor. Yet the MNE wage premium is low; the average wages in MNEs are between 4-7 percent higher than in non-MNEs, while estimates at the individual level reduce the wage premium in MNEs to around 2-3 percent. Higher wages in foreign-owned firms may result from foreign acquisitions of high-wage firms. Alternatively, the acquired firms might have a more favorable wage growth than non-targeted domestically owned firms. My findings only lend support to the hypothesis that foreign firms select high-wage firms (especially non-MNEs) for acquisition.

    List of papers
    1. Foreign acquisition and employment effects in Swedish manufacturing
    Open this publication in new window or tab >>Foreign acquisition and employment effects in Swedish manufacturing
    2007 (English)Report (Other academic)
    Abstract [en]

    This paper investigates the employment effects of foreign acquisitions in acquired firms in Swedish manufacturing during the 1990s, a period characterized by a dramatic increase in foreign ownership. To handle likely endogeneity problems, we evaluate the effects of foreign acquisitions on the targeted firms’ employment by combining propensity score matching with difference-in-difference estimation. We find some evidence of positive employment effects in firms taken over by foreigners and it seems that the employment of skilled labor increases more than the employment of less-skilled labor. Moreover, we examine whether the employment impact of foreign ownership differs between takeovers of Swedish MNEs and non-MNEs. Our results indicate that the positive employment effects only appear in acquired non-MNEs. Furthermore, we observe shifts in skill intensities toward higher shares of skilled labor in non-MNEs taken over by foreign MNEs but not in acquired Swedish MNEs.

    Place, publisher, year, edition, pages
    Nottingham: University of Nottingham, 2007. p. [28]
    Series
    Research paper series ; 35
    National Category
    Social Sciences Economics and Business
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2892 (URN)
    Available from: 2008-01-24 Created: 2008-01-24 Last updated: 2017-10-18Bibliographically approved
    2. Inward FDI and demand for skills in Sweden
    Open this publication in new window or tab >>Inward FDI and demand for skills in Sweden
    (English)Manuscript (preprint) (Other academic)
    National Category
    Social Sciences Economics and Business
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2893 (URN)
    Available from: 2008-01-24 Created: 2008-01-24 Last updated: 2017-10-18Bibliographically approved
    3. Multinationals and plant survival in Swedish manufacturing
    Open this publication in new window or tab >>Multinationals and plant survival in Swedish manufacturing
    2007 (English)Report (Other academic)
    Abstract [en]

    Are multinational enterprises, MNEs, more likely than non-MNEs to close down their plants due to their footloose character? The results from using a panel of all Swedish manufacturing plants over the period 1993 and 2002 suggest that MNE plants, in particular Swedish MNE plants, have a higher probability of exiting the market than non-MNE plants. The outcome is robust controlling for other variables affecting the survival rates. Among non-MNE plants, the probabilities of exit are higher in non-exporting firms than in exporting firms. Moreover, the increased foreign presence in Swedish manufacturing seems to have led to higher exit rates of plants in non-exporting non-MNEs while plants of globally engaged indigenous firms appear to have been unaffected by the increased foreign presence.

    Place, publisher, year, edition, pages
    Nottingham: University of Nottingham, 2007. p. [22]
    Series
    Research paper series ; 31
    National Category
    Economics and Business
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2894 (URN)
    Available from: 2008-01-24 Created: 2008-01-24 Last updated: 2017-10-18Bibliographically approved
    4. Is it profitable to work for multinationals in Sweden?
    Open this publication in new window or tab >>Is it profitable to work for multinationals in Sweden?
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2895 (URN)
    Available from: 2008-01-24 Created: 2008-01-24 Last updated: 2017-10-18Bibliographically approved
  • 5.
    Bohlin, Lars
    Örebro University, Swedish Business School at Örebro University.
    Taxation of intermediate goods: a CGE analysis2010Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This dissertation is concerned with tax rates for the use of commodities in general, and energy in particular. Computable General Equilibrium (CGE) models are used to analyze the normative question of whether the tax rate for intermediate use by firms should be the same as the tax rate for final consumption by households. To answer this question, a distinction needs to be made between fiscal taxes for the purpose of raising revenue for the government, and Pigovian taxes for the purpose of changing behaviour. Concerning fiscal taxes, firms should not pay taxes on their use of inputs if the tax rates in final consumption are at their optimal level. If the tax rate for households is above the optimal level, intermediate use in firms should be taxed in order to increase the price of other commodities and reduce the distortion of relative prices. Essay 1 ascertains what factors determine the optimal relation between the tax rate for final consumption by households and intermediate use by firms. Essay 2 analyses Swedish energy taxes from the perspective of reducing global emission of CO2. It is found that the welfare maximizing tax rates are equal for households and firms not participating in emission trading, while firms that participate in emission trading should have a zero tax rate. Essays 3 and 4 deal with methodological issues. Essay 3 derives a new method for estimation of symmetric input-output tables from supply and use tables. This method solves the problem of negative coefficients, makes it possible to use both the industry and commodity technology assumptions simultaneously and enables the commodity technology assumption to be used even when the number of commodities is larger than the number of industries. Essay 4 describes the model used in the first two essays. The price structure developed here makes it possible to take into account price differences between different purchasers other than differences in tax rates. This essay also makes a comparison between the Swedish implementation of this model and other Swedish CGE-models used to analyse climate policy and energy taxation.

    List of papers
    1. Taxing intermediate goods to compensate for distorting taxes on household consumption
    Open this publication in new window or tab >>Taxing intermediate goods to compensate for distorting taxes on household consumption
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    In contrast to the classic result in Diamond and Mirrlees (1971) that fiscal taxes should not be levied on intermediate use of goods, Newbury (1985) showed that, in a closed economy with Leontief technology, input taxes should be used to indirectly tax commodities that for some reason are untaxed in final consumption.

    This paper extends the Newbury result to more general cases; i.e., to open economies with substitution possibilities in the production functions. Moreover, it shows that the welfare maximizing proportion between the tax rate for intermediate use by firms and final demand by households declines with higher elasticities of substitution in production functions and with higher price elasticities in import demand functions and export supply functions. It also shows that the welfare maximizing proportion of tax rates between households and firms for one commodity will depend upon the corresponding proportion of tax rates for important substitutes for that commodity. These results are shown both in stylized Computable General Equilibrium (CGE) models and in an applied CGE model of the Swedish economy where the tax on electricity is used as an example.

    Keywords
    Optimal taxation, CGE-analysis
    National Category
    Economics Social Sciences
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-12173 (URN)
    Available from: 2010-10-14 Created: 2010-10-12 Last updated: 2017-10-17Bibliographically approved
    2. Climate policy within an international emission trading system: a Swedish case
    Open this publication in new window or tab >>Climate policy within an international emission trading system: a Swedish case
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    This paper uses a CGE model to analyse the optimal climate policy in Sweden before and after introduction of the Emission Trading System (EU ETS) for CO2  emissions in the European Union. The optimal distribution of domestic energy tax rates is derived for different actors. It is shown that the welfare maximizing tax rates, before the introduction of EU ETS, is equal for all actors in the economy. After the introduction of the EU ETS, it is beneficial to have exemptions for installations covered by emission trading. Before the introduction of EU ETS the low tax rates for electricity induced substantial carbon emissions in neighbouring countries through the common Nordic market for electricity. This effect, however, is not present after the introduction of EU ETS.

    Keywords
    CO2 taxation; Energy taxation; Climate Policy; Computable General Equilibrium; Carbon Leakage; Emission Trading.
    National Category
    Economics Social Sciences
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-12174 (URN)
    Available from: 2010-10-14 Created: 2010-10-12 Last updated: 2017-10-17Bibliographically approved
    3. Estimation of Commodity-by-Commodity Input–Output Matrices
    Open this publication in new window or tab >>Estimation of Commodity-by-Commodity Input–Output Matrices
    2006 (English)In: Economic Systems Research, ISSN 0953-5314, E-ISSN 1469-5758, Vol. 18, no 2, p. 205-215Article in journal (Refereed) Published
    Abstract [en]

    In this paper we derive a method for the estimation of symmetric input–output tables (SIOTs), which makes it possible to use the commodity technology assumption even when use- and make tables are rectangular. The method also solves the problem of negative coefficients. In the empirical part we derive annual SIOTs in order to evaluate the differences between SIOTs calculated with different methods and the change in technical coefficients over time. Our results, based on data for Sweden, show that the impact of using different technology assumptions is rather large. However, in a factor content of trade application the impact of different technology assumptions does not seem to be very important. Also the size of the changes in the technical coefficients over time is found to be quite large, indicating the importance of calculating SIOTs annually.

    Place, publisher, year, edition, pages
    London: Routledge, 2006
    Keywords
    Input–output model, commodity technology, product technology, factor content of trade
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-12177 (URN)10.1080/09535310600653164 (DOI)2-s2.0-33745302399 (Scopus ID)
    Available from: 2010-10-14 Created: 2010-10-12 Last updated: 2017-12-12Bibliographically approved
    4. SAINT: A standardized CGE-model for analysis of indirect taxation
    Open this publication in new window or tab >>SAINT: A standardized CGE-model for analysis of indirect taxation
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    This paper describes a computable general equilibrium (CGE) model that builds on the IFPRI standard model but is more suitable for analysis of taxes on specific commodities. It has a richer structure of taxes and trade margins on commodities than the IFPRI model and a flexible nest structure of production and household demand functions. It may be used for open as well as for closed economies. Also, data for a Swedish implementation is described and this application of the model is compared to some previous Swedish CGE models in terms of the estimated effects of a doubling of the CO2 tax rate.

    Keywords
    CGE-models, commodity taxes, permit trading.
    National Category
    Economics Social Sciences
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-12175 (URN)
    Available from: 2010-10-14 Created: 2010-10-12 Last updated: 2017-10-17Bibliographically approved
  • 6.
    Bornhäll, Anders
    Örebro University, Örebro University School of Business.
    Unseen job creators and firm growth barriers: the role of capital constraints and seniority rules2017Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    The topic of this thesis is to provide a deeper understanding of how the institutional framework affects firms’ hiring decisions.

    The first article focuses on a group of firms, called sleeping gazelles, that do not grow despite having high profits. Sleeping gazelles constitute a much larger share of the firm population than that of high-growth firms. If it is growth barriers that are hindering these firms from hiring more employees, many new jobs could be created if these barriers were removed. To investigate the effects of one of the suggested growth barriers in the literature, the second article, focuses on whether small-firm growth is hampered by lack of capital. Using survey data from business owners matched with register data, we find that firms may face a capital constraint paradox, whereby the supply of external capital might be sufficient, but firm owners might refrain from accessing it due to fear of losing control of their companies. The third article investigates whether employment protection acts as a growth barrier in Sweden. Using a reform of the Swedish last-in-first-out (LIFO) rule, we estimate the causal effects from a liberalization of the employment protection. We find that firm growth increased because of the reform and that a more expansive reform could provide new job opportunities and increase overall employment. The LIFO rule was introduced to protect older workers. The fourth article investigates whether the reform weakened the labor market position of these workers. It is found that more young individuals who were unemployed or previously not in the workforce were hired as a consequence of the reform, showing that the reform lowered youth unemployment. There is no indication of older workers leaving the workforce or becoming unemployed to any greater extent after the reform. The fifth article show that the positive effects of the reform were limited to native workers, with no effects on the labor market position of immigrants. The effects depend on the relative insider-status of employees, so that groups of employees who are closer to being insiders benefit more from less-strict employment protection legislation than groups that are further from being insiders.

    List of papers
    1. Sleeping gazelles: The unseen job creators?
    Open this publication in new window or tab >>Sleeping gazelles: The unseen job creators?
    2015 (English)In: Entrepreneurial Growth: Individual, Firm, and Region / [ed] Andrew C. Corbett, Jerome A. Katz, Alexander Mckelvie, Emerald Group Publishing Limited, 2015, p. 161-185Chapter in book (Refereed)
    Abstract [en]

    High-growth firms have recently received considerable attention in the firm growth literature. These firms might have grown despite the existence of growth barriers, and evidence also suggests that, having already grown exponentially, they may not be in the best position to grow further. Policies targeting high-growth firms may therefore be misdirected. We argue that entrepreneurship researchers should concentrate more on firms that are not hiring, despite having high profits. We call these firms “sleeping gazelles,” and demonstrate that they represented almost 10% of all limited liability firms in Sweden from 1997 to 2010. Nearly half of these firms continued to earn high or moderate profits in subsequent three-year periods, while still displaying no growth. Regression analyses indicate that these firms were significantly smaller, older, more likely to be active in industries with high profit uncertainty, and more likely to be located in less densely populated municipalities than were corresponding growing firms.

    Place, publisher, year, edition, pages
    Emerald Group Publishing Limited, 2015
    Series
    Advances in Entrepreneurship, Firm Emergence and Growth, ISSN 1074-7540 ; 17
    Keywords
    Gazelles, high-growth firms, firm growth, growth barriers, job creation
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-60668 (URN)10.1108/S1074-754020150000017013 (DOI)2-s2.0-84938795582 (Scopus ID)978-1-78560-047-0 (ISBN)978-1-78560-046-3 (ISBN)
    Available from: 2017-09-08 Created: 2017-09-08 Last updated: 2017-09-08Bibliographically approved
    2. The capital constraint paradox in micro and small family and nonfamily firms
    Open this publication in new window or tab >>The capital constraint paradox in micro and small family and nonfamily firms
    2016 (English)In: Journal of Entrepreneurship and Public Policy, ISSN 2045-2101, E-ISSN 2045-211X, Vol. 5, no 1, p. 38-62Article in journal (Refereed) Published
    Abstract [en]

    Purpose – The purpose of this paper is to investigate the importance of the entrepreneur’s quest for independence and control over the firm for governance and financing strategies with a special focus on family firms and how they differ from nonfamily firms.

    Design/methodology/approach – The analysis is based on 1,000 telephone interviews with Swedish micro and small firms. The survey data are matched with firm-level data from the Bureau van Dijks database ORBIS.

    Findings – The analysis shows that independence is a prime motive for enterprises, statistically significantly more so for family owners. Family owners are more prone to use either their own savings or loans from family and are more reluctant to resort to external equity capital. Our results indicate a potential “capital constraint paradox”; there might be an abundance of external capital while firm growth is simultaneously constrained by a lack of internal funds.

    Research limitations/implications – The main limitation is that the study is based on cross-section data. Future studies could thus be based on longitudinal data.

    Practical implications – The authors argue that policy makers must recognize independence and control aversion as strong norms that guide entrepreneurial action and that micro- and small-firm growth would profit more from lower personal and corporate income taxes compared to policy schemes intended to increase the supply of external capital.

    Originality/value – The paper offers new insights regarding the value of independence and how it affects strategic decisions within the firm.

    Place, publisher, year, edition, pages
    Emerald Group Publishing Limited, 2016
    Keywords
    Tax policy, Family firms, Informal institutions, Ownership
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-52998 (URN)10.1108/JEPP-10-2015-0033 (DOI)000387745300003 ()2-s2.0-84962135382 (Scopus ID)
    Available from: 2016-10-17 Created: 2016-10-17 Last updated: 2017-09-15Bibliographically approved
    3. Employment protection legislation and firm growth: evidence from a natural experiment
    Open this publication in new window or tab >>Employment protection legislation and firm growth: evidence from a natural experiment
    2017 (English)In: Industrial and Corporate Change, ISSN 0960-6491, E-ISSN 1464-3650, Vol. 26, no 1, p. 169-185Article in journal (Refereed) Published
    Abstract [en]

    A Swedish reform in 2001 made it possible for firms with less than 11 employees to exclude two from the last-in-first-out principle in case of layoffs. The reform increased employment growth with over 4000 additional jobs per year among firms with five to nine employees. Firms with 10 employees became 3.4 percentage points less likely to increase their workforce, indicating that the introduced threshold kept them from growing. Thus, employment protection legislation seems to act as a growth barrier for small firms.

    Place, publisher, year, edition, pages
    Oxford University Press, 2017
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-55246 (URN)10.1093/icc/dtw017 (DOI)000397116700008 ()2-s2.0-85014433259 (Scopus ID)
    Available from: 2017-02-02 Created: 2017-02-02 Last updated: 2017-09-15Bibliographically approved
    4. Do seniority rules protect older workers?: Age composition effects of the last-in-first-out principle
    Open this publication in new window or tab >>Do seniority rules protect older workers?: Age composition effects of the last-in-first-out principle
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-60669 (URN)
    Available from: 2017-09-08 Created: 2017-09-08 Last updated: 2017-09-15Bibliographically approved
    5. Employment Protection Legislation and the Labor Market Position of Immigrants: A Natural Experiment
    Open this publication in new window or tab >>Employment Protection Legislation and the Labor Market Position of Immigrants: A Natural Experiment
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-60670 (URN)
    Available from: 2017-09-08 Created: 2017-09-08 Last updated: 2017-09-15Bibliographically approved
  • 7.
    Bångman, Gunnel
    Örebro University, Department of Business, Economics, Statistics and Informatics.
    Equity in welfare evaluations: the rationale for and effects of distributional weighting2006Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis addresses the issue of weighted cost-benefit analysis (WCBA). WCBA is a welfare evaluation model where income distribution effects are valued by distributional weighting. The method was developed already in the 1970s. The interest in and applications of this method have increased in the past decade, e.g. when evaluating of global environmental problems. There are, however, still unsolved problems regarding the application of this method. One such issue is the choice of the approach to the means of estimating of the distributional weights. The literature on WCBA suggests a couple of approaches, but gives no clues as to which one is the most appropriate one to use, either from a theoretical or from an empirical point of view. Accordingly, the choice of distributional weights may be an arbitrary one. In the first paper in this thesis, the consequences of the choice of distributional weights on project decisions have been studied. Different sets of distributional weights have been compared across a variety of strategically chosen income distribution effects. The distributional weights examined are those that correspond to the WCBA approaches commonly suggested in literature on the topic. The results indicate that the choice of distributional weights is of importance for the rank of projects only when the income distribution effects concern target populations with low incomes. The results also show that not only the mean income but also the span of incomes, of the target population of the income distribution effect, affects the result of the distributional weighting when applying very progressive non-linear distributional weights. This may cause the distributional weighting to indicate an income distribution effect even though the project effect is evenly distributed across the population.

    One rational for distributional weighting, commonly referred to when applying WCBA, is that marginal utility of income is decreasing with income. In the second paper, this hypothesis is tested. My study contributes to this literature by employing stated preference data on compensated variation (CV) in a model flexible as to the functional form of the marginal utility. The results indicate that the marginal utility of income decreases linearly with income.

    Under certain conditions, a decreasing marginal utility of income corresponds to risk aversion. Thus the hypothesis that marginal utility of income is decreasing with income can be tested by analyses of individuals’ behaviour in gambling situations. The third paper examines of the role of risk aversion, defined by the von Neumann-Morgenstern expected utility function, for people’s concern about the problem of ‘sick’ buildings. The analysis is based on data on the willingness to pay (WTP) for having the indoor air quality (IAQ) at home examined and diagnosed by experts and the WTP for acquiring an IAQ at home that is guaranteed to be good. The results indicate that some of the households are willing to pay for an elimination of the uncertainty of the IAQ at home, even though they are not willing to pay for an elimination of the risks for building related ill health. The probability to pay, for an elimination of the uncertainty of the indoor air quality at home, only because of risk aversion is estimated to 0.3-0.4. Risk aversion seems to be a more common motive, for the decision to pay for a diagnosis of the IAQ at home, among young people.

    Another rationale for distributional weighting, commonly referred to, is the existence of unselfish motives for economic behaviour, such as social inequality aversion or altruism. In the fourth paper the hypothesis that people have altruistic preferences, i.e. that they care about other people’s well being, is tested. The WTP for a public project, that ensures good indoor air quality in all buildings, have been measured in three different ways for three randomly drawn sub-samples, capturing different motives for economic behaviour (pure altruism, paternalism and selfishness). The significance of different questions, and different motives, is analysed using an independent samples test of the mean WTPs of the sub-samples, a chi-square test of the association between the WTP and the sample group membership and an econometric analysis of the decision to pay to the public project. No evidence for altruism, either pure altruism or paternalism, is found in this study.

    List of papers
    1. The choice of distributional weights and project decisions
    Open this publication in new window or tab >>The choice of distributional weights and project decisions
    (English)Manuscript (Other academic)
    National Category
    Social Sciences Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3047 (URN)
    Available from: 2006-02-17 Created: 2006-02-17 Last updated: 2017-10-18Bibliographically approved
    2. Marginal utility of income estimated on stated preference data
    Open this publication in new window or tab >>Marginal utility of income estimated on stated preference data
    (English)Manuscript (Other academic)
    National Category
    Social Sciences Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3048 (URN)
    Available from: 2006-02-17 Created: 2006-02-17 Last updated: 2017-10-18Bibliographically approved
    3. Risk aversion and concerns about the problems of sick buildings
    Open this publication in new window or tab >>Risk aversion and concerns about the problems of sick buildings
    (English)Manuscript (Other academic)
    National Category
    Social Sciences Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3049 (URN)
    Available from: 2006-02-17 Created: 2006-02-17 Last updated: 2017-10-18Bibliographically approved
    4. Motive for valuing good indoor air quality: altruism or self-interest?
    Open this publication in new window or tab >>Motive for valuing good indoor air quality: altruism or self-interest?
    (English)Manuscript (Other academic)
    National Category
    Social Sciences Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3050 (URN)
    Available from: 2006-02-17 Created: 2006-02-17 Last updated: 2017-10-18Bibliographically approved
  • 8.
    Damberg, Petter
    et al.
    Örebro University, Örebro University School of Business.
    Gullnäs, Alexander
    Örebro University, Örebro University School of Business.
    Interest rate derivatives: Pricing of Euro-Bund options: An empirical study of the Black Derman & Toy model (1990) 2012Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    The market for interest rate derivatives has in recent decades grown considerably and the need for proper valuation models has increased. Interest rate derivatives are instruments that in some way are contingent on interest rates such as bonds and swaps and most financial transactions are in some way exposed to interest rate risk. Interest rate derivatives are commonly used to hedge this risk. This study focuses on the Black Derman & Toy model and its capability of pricing interest rate derivatives. The purpose was to simulate the model numerically using daily Euro-Bunds and options data to identify if the model can generate accurate prices. A second purpose was to simplify the theory of building a short rate binomial tree, since existing theory explains this step in a complex way. The study concludes that the BDT model have difficulties valuing the extrinsic value of options with longer maturities, especially out-of-the money options.

  • 9.
    Djup, Sara
    et al.
    Örebro University, Swedish Business School at Örebro University.
    Uveby, Mikaela
    Örebro University, Swedish Business School at Örebro University.
    Effektiviteten av intern kontroll och internrevision: en fallstudie ur fyra styrelseledamöters perspektiv2010Independent thesis Advanced level (degree of Master (One Year)), 15 credits / 22,5 HE creditsStudent thesis
    Abstract [en]

    As a result of a series of corporate scandals in recent years, interest in internal control and internal audit has increased in companies. The introduction of the Swedish code of corporate governance led to tougher demands on internal control for the Swedish stock exchange quoted companies and a greater responsibility for the Board. When liability is increased for the Board, internal controls also need to be more efficient and benefits need to exceed the costs.   

    This thesis aims to contribute knowledge about the internal controls and internal audits adaptation and efficiency for the Board in Swedish listed companies. It also seeks to identify what affects the design of internal control and internal audit in these companies.

    To fulfill the thesis purpose, case studies have been conducted with four Swedish listed companies in various industries, Lindab, Enea, Swedbank and Swedish match. Semi-structured interviews were conducted with a Board member in each company, which together with each company’s financial statement constitutes the thesis empirical data. These interviews gave us a deeper understanding for the problem when the participants had the opportunity to discuss around the asked questions.

    The thesis concludes that all participants believe that internal control and internal audit is an effective instrument for both the Board and the company. Effective internal control increases shareholders confidence and helps the company to detect deficiencies in time. The results have also shown that only company’s size and environmental uncertainty affects the structure of internal controls.     

  • 10.
    Ekblad, Kristin
    Örebro University, Örebro University School of Business.
    The economics of sickness absence: social interactions, local cultures and working conditions2014Doctoral thesis, monograph (Other academic)
    Abstract [en]

    The focus of this thesis is the study of social and psychosocial aspects of sickness absence. In Essay 1, Sickness Absence and Peer Effects Evidence from a Swedish Municipality, detailed employment records from a Swedish public employer are used to investigate whether sick leave among work group colleagues influences individual sick leave. Our results indicate that a worker’s level of sick leave is positively correlated with sick leave among peers. When length of employment is taken into account, however, we find that this positive peer effect emerges initially after the first few years of employment. In Essay 2, Who Cares about the Colleagues? – Insights into Peer Effect Heterogeneities in Sickness Absence across Gender and Age, I scrutinize the data used in Essay 1 to further investigate the nature of peer effects in sickness absence in relation to gender and age. The results indicate that men, as well as women, are sensitive to their female colleagues but not to their male peers. Moreover, somewhat surprisingly, I find that young and middle-aged workers are sensitive to younger peers, whereas the oldest workers are not sensitive to any of their peers. Essay 3, Sickness Absence and Local Culture, investigates the effect of geographical and presumed cultural context on sickness absence. Our results indicate that the region of residence is important to individual ‘illness-related absence’. In Essay 4, Sickness Absence, Working Conditions and Gender – An Empirical Analysis using Multiltvel Models, I analyse how psychosocial working conditions are related to short- and longterm sick leave and if, and how, these relation-ships vary with gender. The results show that employees who enjoy higher levels of autonomy in their post take fewer periods of short-term sick leave, and that this effect is significantly greater for male workers. The results also show that for female workers, stronger work-group cohesion is related to a lower likelihood of long-term sick leave. 

  • 11.
    Elert, Niklas
    Örebro University, Örebro University School of Business.
    Economic dynamism: essays on firm entry and firm growth2014Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    The topic of this thesis is economic dynamism. The five articles contribute to the literature on firm entry and firm growth. Studies are based on a dataset covering all Swedish limited liability firms between 1997 and 2010.

    The first article investigates conditions for firm entry in Sweden, distinguishing regular entrants from entrants that survive for at least two years, modelling the firm entry decision using count data models. While high income and a well-educated population had a positive effect, the effect was more important for surviving entrants. The second article uses a similar method, but focuses on wholesale industries and distinguishes between regular entry and in migration of firms, i.e. when an incumbent firm relocates its operations. Access to a university, many educated workers and low local taxes had positive effects. Better access to infrastructure had a strong positive effect on entrants, but it was smaller for in-migrating firms. The third article investigates if the industry context matters for whether Gibrat’s law holds, i.e. whether firm growth is independent of firm size. The law is found more likely to be rejected in industries with a high minimum efficient scale and a large number of firms located in metropolitan areas, but more likely to hold in industries with high market concentration and more group ownership. The fourth and fifth article contribute to the high-growth firms (HGFs) literature. In the fourth article it is examined whether the way HGFs are defined matters for the policy implications. It is found that the economic contributions of HGFs differ significantly depending on definition. Young firms are however more likely to be HGFs irrespective of definition. The fifth article considers the frequent argument that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are thought more likely to become HGFs. We examine this assumption by studying the industry distribution of HGFs. Results indicate that industries with high R&D intensity, ceteris paribus, can be expected to have a lower share of HGFs than can industries with lower R&D intensity. By contrast, we find that HGFs are overrepresented in service industries with a high share of human capital.

    List of papers
    1. What determines entry?: evicence from Sweden
    Open this publication in new window or tab >>What determines entry?: evicence from Sweden
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    See separate jpg-file below

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-35284 (URN)
    Available from: 2014-06-10 Created: 2014-06-10 Last updated: 2017-10-17Bibliographically approved
    2. Start-ups and firm in-migration: Evidence from the Swedish wholesale and trade industry
    Open this publication in new window or tab >>Start-ups and firm in-migration: Evidence from the Swedish wholesale and trade industry
    2013 (English)In: The annals of regional science, ISSN 0570-1864, E-ISSN 1432-0592, Vol. 51, no 2, p. 479-494Article in journal (Refereed) Published
    Abstract [en]

    We use a data set covering 13,471 Swedish limited liability firms in theSwedish wholesale industries during 2000–2004 to ascertain the determinants of newstart-ups and of in-migration of firms. Access to a large harbor, international airport orlarge railroad classification yard in the municipality nearly triples the number of start-ups and increases the expected number of in-migrating firms with 53%. The presenceof a university, many educated workers and low local taxes are also associated withmore start-ups and firm in-migration.

    Place, publisher, year, edition, pages
    Springer, 2013
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-33106 (URN)000323285000008 ()
    Available from: 2014-01-15 Created: 2014-01-15 Last updated: 2018-03-08Bibliographically approved
    3. When is Gibrats's law a law?
    Open this publication in new window or tab >>When is Gibrats's law a law?
    2013 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 41, no 1, p. 133-147Article in journal (Refereed) Published
    Abstract [en]

    The purpose of this article is to investigate if the industry context matters for whether Gibrat’s law is rejected or not using a dataset that consists of all limited firms in five-digit NACE-industries in Sweden during 1998–2004. The results reject Gibrat’s law on an aggregate level, since small firms grow faster than large firms. However, Gibrat’s law is confirmed about as often as it is rejected when industry-specific regressions are estimated. It is also found that the industry context—e.g., minimum efficient scale, market concentration rate, and number of young firms in the industry—matters for whether Gibrat’s law is rejected or not.

    Place, publisher, year, edition, pages
    Dordrecht, Netherlands: Springer, 2013
    Keywords
    Firm growth; Firm size; Job creation; Small firms
    National Category
    Economics
    Research subject
    Economics; Economics
    Identifiers
    urn:nbn:se:oru:diva-33105 (URN)000319774900008 ()
    Available from: 2014-01-15 Created: 2014-01-15 Last updated: 2018-03-08Bibliographically approved
    4. The economic contribution of high-growth firms: do policy implications depend on the choice of growth indicator?
    Open this publication in new window or tab >>The economic contribution of high-growth firms: do policy implications depend on the choice of growth indicator?
    2014 (English)In: Journal of Industry, Competition and Trade, ISSN 1566-1679, E-ISSN 1573-7012, Vol. 14, no 3, p. 337-365Article in journal (Refereed) Published
    Abstract [en]

    Prior studies have defined high-growth firms (HGFs) in terms of growth in firm employment or firm sales, and primarily analyzed their contribution to overall employment growth. In this paper we define HGFs using the commonly applied growth indicators (employment and sales), but also add definitions based on growth in value added and productivity. Our results indicate that HGFs in terms of employment are not the same firms as HGFs in terms of productivity, and that their economic contributions differ significantly. Economic policy promoting fast growth in employment may therefore come at the cost of reduced productivity growth. Although HGFs of different definitions may not be the same firms, young firms are more likely to be HGFs irrespective of definition. This suggests that economic policy should focus on the conditions for new firm formation and early growth of firms, rather than target a particular type of HGFs.

    Keywords
    entrepreneurship . gazelles . firm growth . high-impact firms
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-35288 (URN)10.1007/s10842-013-0168-7 (DOI)2-s2.0-84905592814 (Scopus ID)
    Available from: 2014-06-10 Created: 2014-06-10 Last updated: 2018-11-30Bibliographically approved
    5. Are high growth firms overrepresented in tech industries?
    Open this publication in new window or tab >>Are high growth firms overrepresented in tech industries?
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    See jpg-file below

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-35289 (URN)
    Available from: 2014-06-10 Created: 2014-06-10 Last updated: 2017-10-17Bibliographically approved
  • 12.
    Johannesson, Louise
    Örebro University, Örebro University School of Business.
    Settling disputes at the World Trade Organization2018Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This cumulative dissertation consists of five self-contained essays, all of which are closely focused around issues that concern the WTO dispute settlement mechanism (DSM). In Essay 1, we describe salient features of the DSM using a unique data set. We observe a spike in new disputes in 2012, which in turn led to an increasing number of panels and appeals. This put the WTO under a heavy workload and delays soon became an issue. In Essay 2, we show that the DSM often appoint institutional insiders to serve as judges. Although the DSM was reformed under the WTO, the judges are similar to those found in the GATT. Furthermore, there is an incentive structure in place that encourage the WTO Secretariat to assume a larger role in writing panel reports and for panelists to let them. Essay 3 examines the role of Special and Differential Treatment (SDT) provision Art. 8.10 of the Dispute Settlement Understanding (DSU) in helping developing countries win disputes against richer countries. We observe that developing countries lose more claims when this provision is applied. I formulate a model and show that this observation can be consistent with the presumed benefit of Art. 8.10. Essay 4 addresses the problem of delays by asking ourselves whether we can lessen the problem with a permanent panel. I study features such as the panelists’ experience and prior working relationships in explaining the time it takes to issue panel reports and efficiency in examining claims. We find that prior collaboration can decrease duration. Lastly, in Essay 5, we assess the impact on trade for members that are not involved in disputes. There is evidence of positive trade effects after a dispute for noncomplainants, but the effects are limited to disputes that did not escalate to adjudication. We found no external dispute effects for adjudicated disputes.

    List of papers
    1. The WTO dispute settlement system 1995-2016: A data set and its descriptive statistics
    Open this publication in new window or tab >>The WTO dispute settlement system 1995-2016: A data set and its descriptive statistics
    2017 (English)In: Journal of World Trade, ISSN 1011-6702, E-ISSN 2210-2795, Vol. 51, no 3, p. 357-408Article in journal (Refereed) Published
    Abstract [en]

    In this article, we provide some descriptive statistics of the first twenty years of the WTO (World Trade Organization) dispute settlement., that we have extracted from the data set that we have put together, and made publicly available (http://globalgovernancepro gramme.eui.eu/wto-case-law-project/). The statistical information that we present here is divided into three thematic units: the statutory and de facto duration of each stage of the process, paying particular attention to the eventual conclusion of litigation; the identity and participation in the process of the various institutional players, that is, not only complainants and defendants, but also third parties, as well as the WTO judges (panellists and Appellate Body members); and, finally, information regarding the subjectmatter of various disputes, regarding the frequency with which claims regarding consistency of measures with the covered agreements (but also, at a more disaggregate level, e.g. specific provisions) have been raised. We call our work ‘descriptive statistics’, because, in an effort to provide raw material that will help researchers to conduct their research as they see fit, we have consciously refrained from systematically interpreting the data that we have assembled.

    Place, publisher, year, edition, pages
    Kluwer Law International, 2017
    National Category
    Law and Society Economics
    Identifiers
    urn:nbn:se:oru:diva-65321 (URN)000426481000001 ()2-s2.0-85021457188 (Scopus ID)
    Note

    Funding Agency:

    European University Institute (EUI), Florence (Italy)

    Available from: 2018-02-28 Created: 2018-02-28 Last updated: 2018-09-12Bibliographically approved
    2. Black Cat, White Cat: The Identity of the WTO Judges
    Open this publication in new window or tab >>Black Cat, White Cat: The Identity of the WTO Judges
    2015 (English)In: Journal of World Trade, ISSN 1011-6702, E-ISSN 2210-2795, Vol. 49, no 4, p. 685-698Article in journal (Refereed) Published
    Abstract [en]

    World Trade Organization (WTO) judges are proposed by the WTO Secretariat and elected to act as 'judges' if either approved by the parties to a dispute, or, by the WTO Director-General in case no agreement between the parties has been possible. They are typically 'Geneva crowd', that is, they are either current or former delegates representing their country before the WTO. This observation holds for both first as well as second instance WTO judges (e.g., Panellists and members of the Appellate Body). In that, the WTO evidences an attitude strikingly similar to the General Agreement on Tariffs and Trade (GATT). Whereas the legal regime has been heavily 'legalized', the people called to enforce it remain the same.

    Place, publisher, year, edition, pages
    Kluwer Law International, 2015
    National Category
    Economics Law and Society
    Identifiers
    urn:nbn:se:oru:diva-65322 (URN)000369123500006 ()2-s2.0-84939546487 (Scopus ID)
    Available from: 2018-02-28 Created: 2018-02-28 Last updated: 2018-02-28Bibliographically approved
    3. The Effect of Panel Composition on Developing Countries’ Success Rate in the WTO Dispute Settlement
    Open this publication in new window or tab >>The Effect of Panel Composition on Developing Countries’ Success Rate in the WTO Dispute Settlement
    2016 (English)Report (Other academic)
    Publisher
    p. 30
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-65323 (URN)
    Available from: 2018-02-28 Created: 2018-02-28 Last updated: 2018-07-24Bibliographically approved
    4. Efficiency gains and time-savings of permanent panels in the WTO dispute settlement
    Open this publication in new window or tab >>Efficiency gains and time-savings of permanent panels in the WTO dispute settlement
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-65326 (URN)
    Available from: 2018-02-28 Created: 2018-02-28 Last updated: 2019-05-14Bibliographically approved
    5. Are WTO disputes public goods?: Dispute effects for the membership
    Open this publication in new window or tab >>Are WTO disputes public goods?: Dispute effects for the membership
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-65327 (URN)
    Available from: 2018-02-28 Created: 2018-02-28 Last updated: 2018-02-28Bibliographically approved
  • 13.
    Karlsson, Victoria
    et al.
    Örebro University, Örebro University School of Business.
    Karlsson, Oscar
    Örebro University, Örebro University School of Business.
    Eriksson, Kim
    Örebro University, Örebro University School of Business.
    Länsstyrelsen i Örebro Län- En tvärsnittsstudie inom tjänstekvalitetsområdet2012Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [en]

    Abstract

     

    Title: Service quality at County Administration Board of Örebro – a cross-sectional study

    Date of seminar: 2012-06-01

    Course: Business Administration, Paper Advance Course 15 Credits

    Authors: Kim Eriksson, Oscar Karlsson, Victoria Karlsson

    Supervisor: Pia Lindell

    Purpose: The purpose of this paper is to describe how the clients of the County Administration Board of Örebro perceive service quality of the service process.       

    Research methodology: The paper is based on a combination of quantitative and qualitative empirical data collection. The collected data consists of statements and open questions. The questions were asked by telephone interviews on a sample of the County Administration Board’s clients.

    Theoretical framework: The paper uses theories of service quality, theories of project and relationship marketing. 

    Conclusions: The service quality of the County Administration Board had an average on the determinants on 3,7 of a 5-point scale. The average is above the middle of the scale and can be seen as good quality of service. The recommendations that have been given to CAB is to build relationships through communicating and to work and develop a service recovery routine when mistakes appears.

    Keyword: Service quality, servperf, service provider

  • 14.
    Karpaty, Patrik
    Örebro University, Department of Business, Economics, Statistics and Informatics.
    Does foreign ownership matter?: Multinational firms, productivity and spillovers2005Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis consists of four essays dealing with the role of foreign owned firms for the development of productivity and exports in Swedish manufacturing. The essays share a common theme, i.e. that multinational firms (MNF) possess some intangible assets that could be transferred to their affiliates.

    In Chapter II we find that the foreign-owned firms in Swedish manufacturing have a higher productivity (both level and growth) compared to Swedish domestic firms even after controlling for other variables affecting productivity. Moreover, this is not due to reverse causality, i.e. that foreign investors tend to acquire the most productive Swedish firms and that this would explain the difference in productivity. We also find that Swedish MNFs are as productive as foreign-owned firms and that the productivity effect of foreign ownership may differ according to mode of entry. Greenfield operations are found to be more productive than those in acquired firms.

    Chapter III revisits the question of whether ownership matters for productivity performance. An extensive literature has shown that it is important to study the counterfactual outcome, i.e. what would the outcome be had the domestic firm never been acquired? We use a propensity score matching estimator to compare similar treated and untreated firms. We then apply the difference-in-difference estimator and show that there is a positive effect on productivity due to foreign acquisition. Moreover, this effect on productivity does not occur immediately but starts around three years post acquisition. Foreign ownership is also found to boost productivity growth, not just the level of productivity.

    In Chapter IV we analyze whether FDI stimulates the productivity performance in domestic firms in the same industry and/or region or not. While most other studies using firm level data find no evidence of such externalities from FDI, we provide strong evidence for the existence of spillover effects from inward FDI to domestic firms. These spillover effects cannot be explained by reverse causality. We also find that the magnitude of these spillover effects depends on the absorptive capacity (measured as R&D expenditures) of the domestic firms and the nationality of the parent MNF.

    The last study in this thesis, Chapter V considers whether the effect of increased inward FDI has a positive or negative effect on domestic firms export behavior. The first case may occur as a result of demonstration effects, when local firms learn from foreign MNF to reduce exporting costs. The second may reveal congestion effects, defined here as the case when MNF contribute to congestion of e.g. transport networks or in general add to demand for inputs, driving up their prices, thus increasing costs of exporting for local firms. We also consider whether FDI affect the sunk costs or variable costs of exporting. Our results indicate that congestion effects dominate since increased inward FDI has led to a significant reduction in the probability of export market participation.

    List of papers
    1. Are foreign owned firms more productive?: Evidence from Swedish firm data
    Open this publication in new window or tab >>Are foreign owned firms more productive?: Evidence from Swedish firm data
    2004 (English)Report (Other academic)
    Place, publisher, year, edition, pages
    Örebro: Örebro universitet, 2004. p. 31
    Series
    Working paper series, ESI, ISSN 1403-0586 ; 6
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2961 (URN)
    Available from: 2006-01-06 Created: 2006-01-06 Last updated: 2017-10-18Bibliographically approved
    2. Productivity effects of foreign acquisitions in Swedish manufacturing: the FDI productivity issue revisited
    Open this publication in new window or tab >>Productivity effects of foreign acquisitions in Swedish manufacturing: the FDI productivity issue revisited
    2007 (English)In: International Journal of the Economics of Business, ISSN 1357-1516, E-ISSN 1466-1829, Vol. 14, no 2, p. 241-260Article in journal (Refereed) Published
    Abstract [en]

    This study analyzes the difference between foreign and domestic ownership of firms with respect to productivity. Recent literature has shown that it is important to study the counter-factual outcome, i.e. what would the outcome be had the domestic firm never been acquired? The analysis is based on a panel of Swedish firm level data. In order to isolate the casual effects due to a takeover a propensity score matching estimator is applied to compare similar treated and untreated firms. The difference-in-difference estimations show that there is a positive effect of foreign acquisition on productivity. Foreign acquisitions increase the productivity in the acquired Swedish firms by between 3 and 11% depending on the estimator chosen. Moreover, this productivity difference does not occur immediately but starts between 1-5 years post acquisition.

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2962 (URN)10.1080/13571510701344038 (DOI)
    Available from: 2006-01-06 Created: 2006-01-06 Last updated: 2017-12-14Bibliographically approved
    3. Foreign direct investment and productivity spillovers in Swedish manufacturing
    Open this publication in new window or tab >>Foreign direct investment and productivity spillovers in Swedish manufacturing
    2004 (English)Report (Other academic)
    Abstract [en]

    Based on a panel of data for Swedish manufacturing firms in 1990-2000, this paper finds strong evidence for the existence of positive spillover effects from inward FDI. The presence of foreign ownership in the same industry and region seems to  enhance the total factor productivity of domestic firms. Moreover, the size of these FDI spillover effects seems to depend both on the nationality of the foreign MNF as well as on the absorptive capacity of the domestic firm, measured by its own R&D. It appears that this positive relationship between foreign presence and productivity cannot be explained as a consequence of reverse causality, i.e that FDI is attracted to highly productive regions and industries.

    Place, publisher, year, edition, pages
    Stockholm: FIEF, 2004. p. 28
    Series
    FIEF working paper series, ISSN 1651-0852 ; 194
    Keywords
    Multinational firms, Productivity spillovers, Foreign direct investment
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2963 (URN)
    Available from: 2006-01-06 Created: 2006-01-06 Last updated: 2017-10-18Bibliographically approved
    4. Demonstration or congestion?: Export spillovers in Sweden
    Open this publication in new window or tab >>Demonstration or congestion?: Export spillovers in Sweden
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    A key feature of the Swedish economy over the last two decades has been the rapid internationalisation of its economy, both through FDI and exports. In this paper we consider their inter-relationship, examining whether there have been spillovers from foreign firms to the export performance of domestic firms. We also contribute to the empirical modelling of export spillovers. We do this by exploiting information on whether foreign MNE sales are intra-firm or inter-firm, and by allowing for heterogeneity in the characteristics of the sender and receiver of spillovers. Our results indicate that foreign MNEs had positive effects on Swedish exports.

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-2964 (URN)
    Available from: 2006-01-06 Created: 2006-01-06 Last updated: 2017-10-18Bibliographically approved
  • 15.
    Knezevic, David
    Örebro University, Örebro University School of Business.
    The Treasurer's Guide to the Municipality: Essays on Sub-Sovereign Finance2019Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis presents a comprehensive empirical analysis of the current state of Swedish sub-sovereign finance from multiple perspectives, starting from the local and moving to the national. Financial risks may occur in a long line of financial obligations and transactions. Thus, for understanding the full scope of financial risks one perspective is not sufficient. From a societal perspective the question of sub-sovereign debt management is important since mismanagement may lead to substantial risks which may impact the lives of citizens by a weakening of the Swedish public programs. Sub-sovereign debt is mainly funded by issuing financial securities in both national and foreign capital markets. Understanding the market perception regarding the risk profile of Swedish sub-sovereigns may be beneficial in improving the funding conditions of the sector and in turn reduce the cost of public investments. Financial markets are however not stand-alone entities and are heavily impacted by the policy decisions of public institutions. Thus, monetary policy plays an important role in affecting financial markets and consequently the funding conditions of Swedish sub-sovereigns. Given the contemporary approach to monetary policy this effect may be somewhat different compared to what it has been historically. There are however reasons to suspect that the national policy decisions are in large part driven by international occurrences and by foreign governments through international spillovers. Thus, for understanding the interlinked nature of financial markets a wider perspective is needed. These are some of the areas which are investigated in this thesis.

    List of papers
    1. Intertemporal diversification of sub-sovereign debt
    Open this publication in new window or tab >>Intertemporal diversification of sub-sovereign debt
    2018 (English)In: Empirical Economics, ISSN 0377-7332, E-ISSN 1435-8921Article in journal (Refereed) Epub ahead of print
    Abstract [en]

    This paper presents a comprehensive empirical analysis of the debt maturity structure of the Swedish municipal sector. The Swedish municipal debt portfolio is characterized by a short maturity structure and an asset-liability mismatch that poses potentially severe roll-over risk. The 2008–2009 financial crisis manifested as a liquidity shock to the sector that highlighted the dangers of short-term funding strategies in conjunction with low levels of intertemporal diversification. In this study we analyze to what extent this led to a change of intertemporal diversification. Based on a unique contract-level monthly data set of municipal loans issued by Kommuninvest of Sweden from January 1997 to June 2016, we construct and estimate a range of dispersion and moment measures to capture the change of various distributional characteristics of the maturity structure. These measures are used as dependent variables in fixed-effects models together with a number of control variables to estimate the effect of the debt-crisis liquidity shock. The main finding is that the crisis did affect the diversification, but not in a persistent way. A possible explanation is that the municipalities found that Kommuninvest through jointly guaranteed lending was able to function as a lender of last resort and thereby mitigates the roll-over risk. It is also found that fiscal and financial properties such as debt-to-tax base ratio, tax base volatility and per capita income are associated with the characteristics of the debt maturity structure of Swedish municipalities, as well as macroeconomic factors such as the term structure of interest rates.

    Place, publisher, year, edition, pages
    Berlin: Springer, 2018
    Keywords
    Short-term debt, Term structure, Liquidity risk, Roll-over risk, Asset-liability management, Debt maturity, Financial crisis
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-69046 (URN)10.1007/s00181-018-1525-5 (DOI)
    Conference
    The 3rd International Conference in Applied Macro and Empirical Finance, AMEF 2017, Thessaloniki, Greece, April 21-22, 2017; The 2017 Swedish Graduate Program in Economics (SWEGPEC) annual workshop in Stockholm, Stockholm, Sweden, November 29-30, 2017
    Projects
    Local Government Finance Data Analysis - LOGFIN
    Note

    This paper has benefited from comments by two anonymous referees, Martin Andersson, Pär Österholm, Lars Hultkrantz, Martin Nordström, Niclas Krüger, Mattias Bokenblom, Erik Törnblom and seminar participants at Örebro University, the 3rd International Conference in Applied Macro and Empirical Finance in Thessaloniki and the 2017 Swedish Graduate Program in Economics (SWEGPEC) annual workshop in Stockholm.

    Available from: 2018-09-25 Created: 2018-09-25 Last updated: 2019-02-13Bibliographically approved
    2. A Guarantee – Does the Obligee Agree?: A Risk Premium Decomposition of Sub-Sovereign Bond Spreads
    Open this publication in new window or tab >>A Guarantee – Does the Obligee Agree?: A Risk Premium Decomposition of Sub-Sovereign Bond Spreads
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-72416 (URN)
    Available from: 2019-02-13 Created: 2019-02-13 Last updated: 2019-02-13Bibliographically approved
    3. The Relation between Municipal and Government Bond Yields in an Era of Unconventional Monetary Policy
    Open this publication in new window or tab >>The Relation between Municipal and Government Bond Yields in an Era of Unconventional Monetary Policy
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-72417 (URN)
    Available from: 2019-02-13 Created: 2019-02-13 Last updated: 2019-02-13Bibliographically approved
    4. A Reasonable Assumption?: The Small Open Economy and Block Exogeneity
    Open this publication in new window or tab >>A Reasonable Assumption?: The Small Open Economy and Block Exogeneity
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Identifiers
    urn:nbn:se:oru:diva-72418 (URN)
    Available from: 2019-02-13 Created: 2019-02-13 Last updated: 2019-02-13Bibliographically approved
  • 16.
    Krüger, Niclas A.
    Örebro University, Swedish Business School at Örebro University.
    Infrastructure investment planning under uncertainty2009Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This dissertation is concerned with the planning processes in transportation and infrastructure investments and the aim is to improve risk assessment, risk valuation and risk management. Many of the results presented in this thesis are also applicable to a wider range of questions.

    List of papers
    1. The impact of real options on willingness to pay for mortality risk reductions
    Open this publication in new window or tab >>The impact of real options on willingness to pay for mortality risk reductions
    2009 (English)In: Journal of Health Economics, ISSN 0167-6296, E-ISSN 1879-1646, Vol. 28, no 3, p. 563-569Article in journal (Refereed) Published
    Abstract [en]

    Public investments are dynamic in nature, and decision making must account for the uncertainty, irreversibility and potential for future learning. In this paper we adapt the theory for investment under uncertainty for a public referendum setting and perform the first empirical test to show that estimates of the value of a statistical life (VSL) from stated preference surveys are highly dependent on the inclusion of the option value. Our results indicate an option value of a major economic magnitude. This implies that previously reported VSL estimates, used in societal benefit–cost analysis of health investments, are exaggerated.

    Place, publisher, year, edition, pages
    Amsterdam: Elsevier, 2009
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-7801 (URN)10.1016/j.jhealeco.2009.01.002 (DOI)000266648500004 ()
    Available from: 2009-09-02 Created: 2009-09-02 Last updated: 2017-12-13Bibliographically approved
    2. Does infrastructure really cause growth?
    Open this publication in new window or tab >>Does infrastructure really cause growth?
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15437 (URN)
    Available from: 2011-05-02 Created: 2011-05-02 Last updated: 2017-10-17Bibliographically approved
    3. Multiscale risk measures for infrastructure investments
    Open this publication in new window or tab >>Multiscale risk measures for infrastructure investments
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15438 (URN)
    Available from: 2011-05-02 Created: 2011-05-02 Last updated: 2017-10-17Bibliographically approved
    4. Fatal connections: determinants of road accident risk and drunk driving in Sweden
    Open this publication in new window or tab >>Fatal connections: determinants of road accident risk and drunk driving in Sweden
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15439 (URN)
    Available from: 2011-05-02 Created: 2011-05-02 Last updated: 2017-10-17Bibliographically approved
    5. Real options in strategic and operational road planning decisions
    Open this publication in new window or tab >>Real options in strategic and operational road planning decisions
    (English)Manuscript (preprint) (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-15440 (URN)
    Available from: 2011-05-02 Created: 2011-05-02 Last updated: 2017-10-17Bibliographically approved
  • 17.
    Li, Tian
    Örebro University, Örebro University School of Business.
    An analysis of the relationship between foreign investment and carbon dioxide emissions in China2012Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    This paper analyzes the relationship between foreign investment and carbon dioxide (CO2) emissions in China during the past 30 years. It uses FDI stock to explain CO2 emissions at aggregate and industrial levels. No significant result is found at aggregate level but a few significant results are found in some relative energy-consuming industries. This paper also uses the Granger causality test to find if there is relationship between FDI inflow and CO2 emissions and no causality is found.

  • 18.
    Lindberg, Gunnar
    Örebro University, Department of Business, Economics, Statistics and Informatics.
    Valuation and pricing of traffic safety2006Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis consists of six essays covering the topic of valuation and pricing of accidents. In the first essay a theory of the external marginal cost of accidents is presented. The external cost is dependent on the value of statistical life, the proportion internal cost and the so called risk elasticity, i.e. the relationship between traffic flow and accident risk. The two following essays present CV-studies on value of statistical life. Both CV-studies are based on the community approach built on the Swedish Vision Zero and ask respondents about their willingness-to-pay for absolute safety from fatal and severe accidents in one city.

    The first study focuses on the problem of scope and hypothetical bias and shows that ex post calibration based on respondents’ certainty in answering the WTP question reduces the willingness-to-pay with up to 30% for a public good. Based on these certain responses a lower bound VSL value is presented of SEK 53 million for a private good and 20 million for a public good. The second essay discusses the topic of nonselfish preferences and willingness-to-pay for children’s safety as well as for relatives and friends. The essay suggests that WTP for children safety is higher than private safety and that a WTP for the safety of relatives and friends is prevailing. Also this essay shows a big difference between the WTP for a private good and for a public good. The two following essays estimate the risk elasticity for railway level crossing accidents as well as for heavy goods vehicles in Sweden. Both essays find that the risk decreases with increased traffic i.e. negative risk elasticity. The last essay presents the result from a field experiment with speed related charges and bonuses. The experiment shows that internalisation of the external accident cost through speed related economic incentives strongly will affect drivers choice of speed. It is proposed that this can be achieved on a voluntary basis.

    List of papers
    1. Traffic insurance and accident externality charges
    Open this publication in new window or tab >>Traffic insurance and accident externality charges
    2001 (English)In: Journal of Transport Economics and Policy, ISSN 0022-5258, E-ISSN 1754-5951, Vol. 35, no 3, p. 399-416Article in journal (Refereed) Published
    Abstract [en]

    The external costs of road transport have been on the top of the transport policy agenda for almost a decade. While the discussion has been centred around the environmental costs, it emerges that the external accident cost is often the main component. Here the theory of accident externality charges is developed and the price-relevant accident cost for Sweden is estimated. Furthermore, a system to internalise the external cost through an adjustment of the current Swedish insurance system is proposed. It is found that an additional accident externality charge in urban areas is necessary to supplement a reformed traffic insurance.

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3181 (URN)
    Available from: 2006-11-17 Created: 2006-11-17 Last updated: 2017-12-14Bibliographically approved
    2. The value of improved road safety
    Open this publication in new window or tab >>The value of improved road safety
    2006 (English)In: Journal of Risk and Uncertainty, ISSN 0895-5646, E-ISSN 1573-0476, Vol. 32, no 2, p. 151-170Article in journal (Refereed) Published
    Abstract [en]

    We report the results of a contingent valuation study for finding a conservative estimate of the value-of-statistical-life in an urban road safety context in Sweden. We estimate the value of both a private-good device and a public-good safety program. The reduction of risk is communicated with a “community analogy” representation of the “Vision Zero” target of the national traffic-safety policy. According to this target, the road-traffic system should be designed so as to prevent accidents when they happen to lead to fatalities or severe injuries. We use the “certainty approach” for ex-post correction of results to remove or mitigate hypothetical bias of responses. As expected we find insensitivity of responses in the full sample to the size of the risk reduction being valued. By our approach we can compute a conservative estimate, based on answers from fully confident respondents, of the value of the largest possible safety enhancement (i.e. fulfilment of the “Vision Zero”). This lower bound estimate indicates a higher average willingness-to-pay for public safety-improving measures than currently assumed in benefit-cost assessments. We also find that the willingness to pay is considerably lower within a public-good than a private-good framework and a weak indication of sensitivity to scale among the most confident respondents.

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3182 (URN)10.1007/s11166-006-8291-z (DOI)000237503400004 ()2-s2.0-33646696193 (Scopus ID)
    Available from: 2006-11-17 Created: 2006-11-17 Last updated: 2017-10-06Bibliographically approved
    3. Benevolence and the value of statistical life: safety of children relatives and friends
    Open this publication in new window or tab >>Benevolence and the value of statistical life: safety of children relatives and friends
    (English)Manuscript (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3183 (URN)
    Available from: 2006-11-17 Created: 2006-11-17 Last updated: 2017-10-18Bibliographically approved
    4. The marginal cost of road/rail level crossing accidents on Swedish railways
    Open this publication in new window or tab >>The marginal cost of road/rail level crossing accidents on Swedish railways
    (English)Manuscript (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3184 (URN)
    Available from: 2006-11-17 Created: 2006-11-17 Last updated: 2017-10-18Bibliographically approved
    5. External accident cost of heavy goods vehicles
    Open this publication in new window or tab >>External accident cost of heavy goods vehicles
    (English)Manuscript (Other academic)
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3185 (URN)
    Available from: 2006-11-17 Created: 2006-11-17 Last updated: 2017-10-18Bibliographically approved
    6. Intelligent economic speed adaptation
    Open this publication in new window or tab >>Intelligent economic speed adaptation
    2003 (English)In: 10th International Conference on Travel Behaviour Research (IATBR), 2003, p. 1-20Conference paper, Published paper (Other academic)
    Abstract [en]

    Internalisation of external costs of transport has hitherto been focused on distance-based charges. While this may affect driven distance, it has no influence on driving behaviour. We demonstrate in this economic field experiment that it today is possible to observe drivers actual behaviour with GPS technology and thus possible to refine the economic incentives. To ensure participation, we give drivers a monthly bonus, which is reduced according to the speed behaviour. We make the experiment with two different bonus levels and two different price levels. Our pricing scheme significantly reduces the proportion speed violations of the participants and we conclude that this is a possible way to improve car drivers speed behaviour.

    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-3186 (URN)
    Conference
    10th International Conference on Travel Behaviour Research (IATBR), 10-15 August 2003, Luzern
    Available from: 2006-11-17 Created: 2006-11-17 Last updated: 2017-10-18Bibliographically approved
  • 19.
    Lindkvist, Ted
    et al.
    Örebro University, Örebro University School of Business.
    Gyllenlood, Erik
    Örebro University, Örebro University School of Business.
    Amoor Pour, Sorush
    Örebro University, Örebro University School of Business.
    Samverkan mellan konkurrerande företag: En studie med fokus på banker i ett gemensamt projekt2013Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [sv]

    Syfte: Denna studies syfte är att förklara hur företag i samma bransch går tillväga för att uppnå samverkan trots konkurrens. Syftet är även att ge en beskrivning av hur samverkan går till och hur företagen går tillväga för att nå gemensamma mål dem emellan.

    Metod: Kvalitativa intervjuer tillämpas med respondenter involverade i projektet, men med koppling till olika banker. Respondenternas svar återkopplas till den teoretiska referensramen för att tolka och förklara det empiriska materialet.

    Slutsats: Vi kom fram till att tack vare den teknologiska utvecklingen fanns möjligheten att erbjuda en helt ny typ av tjänst. I tjänsten samverkar bankerna för att försvara sin position på marknaden genom att erbjuda en konkurrenskraftig betalningstjänst mot andra aktörers motsvarigheter. Trots samverkan sätts enskilda mål för varje bank då konkurrensen mellan bankerna handlar om användandet av tjänsten.

  • 20.
    Liu, Xing
    Örebro University, Örebro University School of Business.
    Transport and environment incentive policy instruments: effects and interactions2013Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This dissertation studies issues related to the evaluation of the effects and interactions of transport and environmental incentive policy instruments. Essay 1: Green cars sterilize congestion charges: a model analysis of the reduced impact of Stockholm road tolls calibrates a modal-choice model with data from the Stockholm road toll and uses it to study the sensitivity of congestion toll effects to some seemly subtle changes in the toll system design and external circumstances. Essay 2: The impact of consistent internalization of external effects of transport and manufacturing – a CGE analysis of Sweden uses a static, small open-economy Computable General Equilibrium (CGE) model of the Swedish economy to study the impact of the consistent internalization of external effects of transport and manufacturing. We examine and compare the effects and tradeoffs of different policy reforms on domestic emissions reduction, carbon leakage, macroeconomic variables, social welfare, government budget, and transport demand. Essay 3: Estimating the value of transport time savings for freight transport: a simultaneous decision model of the choices of transport mode and shipment size applies a simultaneous decision model of the choices of transport mode and shipment size to study the value of transport time savings (VTTS) of Swedish shippers for four commodity groups: agricultural goods, forest goods, mining goods, and manufactured goods. Essay 4: Estimating the additionality of the Swedish climate subsidy program – Klimp studies an important issue related to the climate subsidy program – additionality. We estimate the probability that a subsidized project would have been implemented in the absence of the subsidy to assess the additionalityof the Klimp program

    List of papers
    1. Green cars sterilize congestion charges: a model analysis of the reduced impact of Stockholm road tolls
    Open this publication in new window or tab >>Green cars sterilize congestion charges: a model analysis of the reduced impact of Stockholm road tolls
    2012 (English)In: Transport Policy, ISSN 0967-070X, E-ISSN 1879-310X, Vol. 21, p. 110-118Article in journal (Refereed) Published
    Abstract [en]

    Before–after comparisons indicate that the impact of the road toll in Stockholm on traffic volumes was smaller when the system was re-opened in 2007, compared to the effect during the trial in 2006. We calibrate a modal-choice model on data for Stockholm from before and during the trial and use it to simulate the effects of some seemingly subtle changes of the design of the congestion-charge scheme. We find that the growth of the share of exempted “green” cars and the decision to make charges deductible from the income tax was about to considerably reduce the positive welfare effect of the toll at the time when the “green” car exemption was abolished.

    Place, publisher, year, edition, pages
    Elsevier, 2012
    Keywords
    Congestion pricing; Equity effects; Modal choice
    National Category
    Economics
    Research subject
    Economics
    Identifiers
    urn:nbn:se:oru:diva-21965 (URN)10.1016/j.tranpol.2012.03.001 (DOI)000305722300013 ()2-s2.0-84860630970 (Scopus ID)
    Available from: 2012-03-05 Created: 2012-03-05 Last updated: 2017-12-07Bibliographically approved
    2. The impact of consistent internalization of the external effects of transport and manufacturing: a CGE analysis of Sweden
    Open this publication in new window or tab >>The impact of consistent internalization of the external effects of transport and manufacturing: a CGE analysis of Sweden
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    This paper uses a static, small open economy computable General Equilibrium (CGE) model of the Swedish economy to study the impact of the consistent internalization of external effects from transport and manufacturing. We look at eight policy scenarios: first, fully implemented Social Marginal Cost Pricing (SMCP)in industry, sea and air transport, road transport,  and rail transport and then SMCP in these sectors separately or in various combinations. We evaluate the effects on, among other things, national and global emissions reductions, GDP, government budget, transport demand, and overall social welfare. The simulation results show that among the eight policy scenarios that we study, correcting prices only for rail transport generates a negative social welfare surplus, the smallest possible emissions reduction effects, and relatively low government revenue. While correcting prices only for road transport generates much larger effects across all aspects, it also increases transport demand on the already congested rail network. Combining rail and road charges generates a relatively high welfare effect, high government revenue, and high emissions reductions.

    Keywords
    Social marginal cost, externalities, transport taxation, CO2 taxation, carbon leakage, general equilibrium
    National Category
    Economics and Business
    Research subject
    Business Studies
    Identifiers
    urn:nbn:se:oru:diva-34024 (URN)
    Available from: 2014-03-03 Created: 2014-03-03 Last updated: 2017-10-17Bibliographically approved
    3. Estimating the value of transport time savings for freight transport: a simultaneous decision model of the choices of transport mode and shipment size
    Open this publication in new window or tab >>Estimating the value of transport time savings for freight transport: a simultaneous decision model of the choices of transport mode and shipment size
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    The value of transport time savings (VTTS) for freight is a critical component of cost-benefit analyses of transport projects and policies. Although there is substantial research available regarding personal travel time value, the literature about freight VTTS is sparse. There are several inherent difficulties related to freight VTTS studies, including firms’ lack of incentives to reveal information that is relevant to their competitive market power and the complexity of the nature of freight transport itself. Furthermore, previous studies of freight VTTS have tended to neglect the dependence between the choices of transport mode and shipment size.

    This paper applies a simultaneous decision model for the choices of transport mode and shipment size to a dataset that is constructed by merging the Swedish Commodity Flow Survey data for 2001 with network information from the Swedish national freight transport model to study the VTTS of Swedish shippers for four groups of commodities: agricultural goods, forest goods, mining goods, and manufactured goods. The average VTTS for these four commodity groups are estimated to be 0.80, 0.41, 0.27, and 0.37 Euro per ton per hour, espectively.

    Keywords
    VTTS, simultaneous decision model, random utility model, logistics cost minimization
    National Category
    Economics and Business
    Research subject
    Business Studies
    Identifiers
    urn:nbn:se:oru:diva-34025 (URN)
    Available from: 2014-03-03 Created: 2014-03-03 Last updated: 2017-10-17Bibliographically approved
    4. Estimating the additionality of the Swedish climate subsidy program: Klimp
    Open this publication in new window or tab >>Estimating the additionality of the Swedish climate subsidy program: Klimp
    (English)Manuscript (preprint) (Other academic)
    Abstract [en]

    In 2003, Sweden initiated a climate subsidy program known as Klimp, to encourage implementation of projects that reduce carbon emissions. A total grant of 1.8 billion SEK was approved for 912 projects, and 766 of these were implemented. The emission reduction from these projects totals 746,000 tons annually. However, it is criticized that some of the subsidized projects might have been implemented in the absence of financial support from Klimp, i.e., the projects were not additional. This concept of "additionality" brings concerns about the opportunity cost of government spending, and about what the impact of Klimp on emission reduction actually is.

    This paper compares the implementation outcomes (i.e., whether a project was implemented or not) of Klimp subsidized projects with a control group of projects that were not approved for Klimp subsidies. We use an econometric model to study the treatment effect of the Klimp subsidy, and we estimate the probability that a subsidized project would be implemented with and without the Klimp subsidy. The additionality of Klimp is calculated based on estimated probabilities. The estimation results show that the additionality of Klimp is approximately 60 percent, which means that 60 percent of the Klimp-subsidized projects would not have been implemented had they not been subsidized.

    Keywords
    Additionality, Klimp, climate subsidy program, subsidy, CDM
    National Category
    Economics and Business
    Research subject
    Business Studies
    Identifiers
    urn:nbn:se:oru:diva-34026 (URN)
    Available from: 2014-03-03 Created: 2014-03-03 Last updated: 2017-10-17Bibliographically approved
  • 21.
    Lundin, Nannan
    Örebro University, Department of Business, Economics, Statistics and Informatics.
    Impact of international competition on Swedish manufacturing: individual and firm-level evidence from the 1990s2004Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis consists of four papers examining the impact of international competition on Swedish manufacturing and labor market during the 1990s. By using detailed individual and firm-level information I aim to investigate how increased exposure to international trade, in terms of both export orientation and import penetration, affects technology development, profitability and wage structure.

    Paper [1] (co-authored with Pär Hansson) is a study on links between exporting behavior and productivity. We find support for the self-selection effect of firms, i.e. more productive firms are more likely to enter into the export market. In addition, we obtain evidence indicating that export enhances firm-level productivity.

    By recognizing the intra-industry heterogeneity in terms of exporting behavior and difference in productivity level among firms, we quantify both within-firm and reallocation effects that contribute to overall manufacturing productivity growth. The decomposition shows that the within-firm effect dominates, but intra-industry reallocation towards more productive firms has also taken place. A further breakdown of these two effects into domestic and export components shows that productivity growth appears to be more rapid for large exporting firms.

    Paper [2] analyzes the impact of import penetration on firm-level market power, measured by (average) price-cost margin. The total imports are divided into five country groups to investigate the differential strengths of the pro-competitive effects depending on the countries of origin. The EU-members and the EU-candidate countries (the recent EU members) are of special interest in the context of increased economic integration.

    The results indicate that imports from the EU-candidate countries have substantial disciplinary effects on firm-level market power, while imports from the EU-member countries only appear to have an impact in firms with large market shares in highly concentrated industries.

    Paper [3] examines how import competition from different origins and the presence of product differentiation affect market power of Swedish manufacturing firms during the 1990s. Applying Roeger’s method (1995), I perform the empirical analysis based on detailed firm-level data and estimate an average mark-up level of Swedish manufacturing firms.

    The general finding is that imports from both European countries and other high-income countries outside Europe impose disciplinary effects on price-cost margins of Swedish manufacturing firms. The strongest effect is from EU candidate countries (the recent EU members). However, the competitive pressure associated with import is relaxed in the presence of product differentiation.

    Paper [4] (co-authored with Lihong Yun) examines the inter-industry wage structure in Swedish manufacturing sectors using matched employer-employee data for the period 1996 to 2000. First, we use detailed individual and job characteristics to estimate industry-specific and time-varying wage premiums. Second, we examine the impact of international trade on the wage premiums, after controlling for effects of domestic competition and technical progress.

    Our results indicate that industries that face intensive import competition from low-income countries have lower wage premiums. Surprisi