ZEW，Centre for European Economic Research，Germany

Research Results · Conferences & Workshops · Publications

November/December 2019

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Economic Policy Analysis：Daycare Centres Foster Integration of Refugees

Supplement M&A Report： German M&A Market in Distress

Event：Specialization Helps to Avoid Job Losses

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ZEWNEWS SEPTEMBER/OCTOBER 2019

ZEWnews English edition – published bimonthly

Publisher: ZEW – Leibniz Centre for European Economic Research

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President: Prof. Achim Wambach, PhD · Director: Thomas Kohl

Editors: Gunter Grittmann (V.i.S.d.P) · Phone +49 621 12 35 - 132 · gunter.grittmann@zew.de

Investments in digitalisation and automation will lead to moderate employment growth in Germany.

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Forward Trading and Collusion in Supply Functions

This paper studies the effect of forward contracts on the stability of collusion among firms, competing in supply functions on the spot market. A forward market can increase the range of discount factors which allow to sustain collusion. On the contrary, collusion is destabilised when a potential deviator sells a significant amount forward. Results do not depend on the type (financial or physical) of contract fulfilment and are robust to different levels of demand uncertainty. As a policy implication, the study finds that liquid and anonymous forward markets are incompatible with collusion.

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Wölfing, Nikolas (2019), Forward Trading and Collusion in Supply Functions, ZEW Discussion Paper No. 19-003, Mannheim.

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ZEW，Centre for European Economic Research，Germany

The Centre for European Economic Research (ZEW) in Mannheim is a non-profit and independent institute with the legal form of a limited liability company (GmbH). Founded in 1990 on the basis of a public-private initiative in the Federal State of Baden-Württemberg in co-operation with the University of Mannheim, ZEW is one of Germany's leading economic research institutes, and enjoys a strong reputation throughout Europe. ZEW pursues four key objectives:

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To conduct research of the highest quality

To provide scientifically grounded economic policy advice

To train up-and-coming economists, and

To inform the professional and lay public

The institute addresses on decision-makers in politics, business, and administration, scientists in the national and international arena as well as the interested public. Frequent surveys on the situation on the financial markets and the business situation of the information economy as well as the large-scale annual study on innovation activities in the German economy are representative for the different types of information provided by ZEW.

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ZEW，Centre for European Economic Research，Germany

The Centre for European Economic Research (ZEW) in Mannheim is a non-profit and independent institute with the legal form of a limited liability company (GmbH). Founded in 1990 on the basis of a public-private initiative in the Federal State of Baden-Württemberg in co-operation with the University of Mannheim, ZEW is one of Germany's leading economic research institutes, and enjoys a strong reputation throughout Europe. ZEW pursues four key objectives:

更多

To conduct research of the highest quality

To provide scientifically grounded economic policy advice

To train up-and-coming economists, and

To inform the professional and lay public

The institute addresses on decision-makers in politics, business, and administration, scientists in the national and international arena as well as the interested public. Frequent surveys on the situation on the financial markets and the business situation of the information economy as well as the large-scale annual study on innovation activities in the German economy are representative for the different types of information provided by ZEW.

收起

ZEW，Centre for European Economic Research，Germany

The Centre for European Economic Research (ZEW) in Mannheim is a non-profit and independent institute with the legal form of a limited liability company (GmbH). Founded in 1990 on the basis of a public-private initiative in the Federal State of Baden-Württemberg in co-operation with the University of Mannheim, ZEW is one of Germany's leading economic research institutes, and enjoys a strong reputation throughout Europe. ZEW pursues four key objectives:

更多

To conduct research of the highest quality

To provide scientifically grounded economic policy advice

To train up-and-coming economists, and

To inform the professional and lay public

The institute addresses on decision-makers in politics, business, and administration, scientists in the national and international arena as well as the interested public. Frequent surveys on the situation on the financial markets and the business situation of the information economy as well as the large-scale annual study on innovation activities in the German economy are representative for the different types of information provided by ZEW.

收起

ZEW，Centre for European Economic Research，Germany

The Centre for European Economic Research (ZEW) in Mannheim is a non-profit and independent institute with the legal form of a limited liability company (GmbH). Founded in 1990 on the basis of a public-private initiative in the Federal State of Baden-Württemberg in co-operation with the University of Mannheim, ZEW is one of Germany's leading economic research institutes, and enjoys a strong reputation throughout Europe. ZEW pursues four key objectives:

更多

To conduct research of the highest quality

To provide scientifically grounded economic policy advice

To train up-and-coming economists, and

To inform the professional and lay public

The institute addresses on decision-makers in politics, business, and administration, scientists in the national and international arena as well as the interested public. Frequent surveys on the situation on the financial markets and the business situation of the information economy as well as the large-scale annual study on innovation activities in the German economy are representative for the different types of information provided by ZEW.

收起

ZEW，Centre for European Economic Research，Germany

The Centre for European Economic Research (ZEW) in Mannheim is a non-profit and independent institute with the legal form of a limited liability company (GmbH). Founded in 1990 on the basis of a public-private initiative in the Federal State of Baden-Württemberg in co-operation with the University of Mannheim, ZEW is one of Germany's leading economic research institutes, and enjoys a strong reputation throughout Europe. ZEW pursues four key objectives:

更多

To conduct research of the highest quality

To provide scientifically grounded economic policy advice

To train up-and-coming economists, and

To inform the professional and lay public

The institute addresses on decision-makers in politics, business, and administration, scientists in the national and international arena as well as the interested public. Frequent surveys on the situation on the financial markets and the business situation of the information economy as well as the large-scale annual study on innovation activities in the German economy are representative for the different types of information provided by ZEW.

收起