http://hdl.handle.net/2262/62016 Tue, 18 Jun 2013 07:36:23 GMT 2013-06-18T07:36:23Z http://hdl.handle.net/2262/61148 Title: Hall-Roeger tests of market power in Irish manufacturing industries Author: Boyle, G. E. Abstract: The Hall-Roeger methodology for the testing of market power is applied to Irish manufacturing industries for the period 1991-1999. The paper adapts their methodology to permit discrimination between input and output-price-based sources of market power. The empirical results do not indicate much evidence of significant imperfect competition in output markets but the results do point to evidence of market power in certain input markets and in some industrial sectors. The implications of these findings are discussed. Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/2262/61148 2004-01-01T00:00:00Z http://hdl.handle.net/2262/60367 Title: Inflation and money growth: evidence from a multi-country data-set Author: Frain, John C. Abstract: Using a multi-country data set strong correlation are found between average growth rates of monetary aggregates and average inflation. The correlation remains strong when countries with higher average inflation rates are removed from the sample. These results confirm the strong correlation found in the traditional literature but contradict those in De Grauwe and Polan (2001) who, in a recent analysis, find that the strong link vanishes when higher inflation countries are excluded. Further analysis confirms the unit response and bears out the value of monetary aggregates as an input to the making of monetary policy. Description: Paper read at The Eighteenth Annual Conference of the Irish Economic Association, Belfast 2004. Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/2262/60367 2004-01-01T00:00:00Z http://hdl.handle.net/2262/60363 Title: Persistent puzzles in international finance and economics Author: Aggarwal, Raj Abstract: As the title of this lecture suggests, I plan to talk about selected puzzles in international finance and economics. These puzzles include deviations from theoretical values that are observed in spot and forward markets in foreign exchange. Also, observed currency values persistently deviate from purchasing power and interest rate parities. Further, there is also an unexplained large home bias against international portfolio diversification, and there are frequent unexpected crashes and crises in international financial markets. These puzzles are interesting because they have not been eliminated by traders nor explained away satisfactorily by economists – indeed their persistence challenge and intrigue us. Description: This paper was delivered as the Central Bank of Ireland Edgeworth Lecture, at the Eighteenth Annual Conference of the Irish Economic Association, Belfast, April 2004. Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/2262/60363 2004-01-01T00:00:00Z http://hdl.handle.net/2262/60160 Title: Farm forestry investment in Ireland under uncertainty Author: Wiemers, Emily; Behan, Jasmina Abstract: This paper develops a model to explain farmers’ decision to move from agricultural activities to forestry. Farmers in Ireland have strong links with land and are reluctant to enter into forestry even when the returns from it exceed those from farming. This paper examines whether the reluctance among farmers to plant forestry originates in the nature of forestry investment, which is characterised by the irreversibility of the decision, the uncertainty about future returns, and the ability to delay investment in forestry. In this paper we use a real options method and focus on the contribution of uncertainty in returns and costs to the decision to invest in forestry. Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/2262/60160 2004-01-01T00:00:00Z http://hdl.handle.net/2262/60047 Title: Irish public service broadcasting: a contingent valuation analysis Author: Delaney, Liam; O'Toole, Francis Abstract: Irish public service broadcasting faces enhanced domestic and international competition and increasingly the Irish public service broadcaster (RTÉ) is being called upon to justify the scale of the television licence fee, its major source of funding. This paper describes the first nationwide valuation of RTÉ’s services. In analysing the determinants of respondents’ willingness to pay for RTÉ’s services, the importance of domestic and international competing services and the relationships between willingness to pay for, usage of, and satisfaction with, RTÉ’s services are analysed. In addition, this paper highlights the importance of distinguishing between household, and individual, willingness to pay. Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/2262/60047 2004-01-01T00:00:00Z http://hdl.handle.net/2262/60023 Title: Does outsourcing increase profitability? Author: Görg, Holger; Hanley, Aoife Abstract: We investigate the relationship between outsourcing and profitability paying particular attention to the endogeneity of outsourcing. The empirical analysis uses unique plant level data for the electronics sector in Ireland. A particular feature of the data is that it records detailed information for 12 electronics sub-sectors covering both manufacturing and services activities. We distinguish outsourcing of materials from outsourcing of services inputs. We find that plants that are substantially larger than the mean employment size benefit from outsourcing materials while this does not appear to be the case for small plants. Results for outsourcing of services are not as clear-cut, however. Description: Paper presented at the Eighteenth Annual Conference of the Irish Economic Association, Belfast, 2004 Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/2262/60023 2004-01-01T00:00:00Z