The market enthusiasm generated around investment in CRM technology is in stark contrast to the naysaying by many academic and business commentators. This raises an important research question concerning the extent to which companies should continue to invest in building a CRM capability. Drawing on field interviews and a survey of senior executives, the results reveal that a superior CRM capab...

We examine using the Stochastic Grid Bundling Method (SGBM) to price a Bermudan swaption driven by a one-factor LIBOR Market Model (LMM). Using a wellknown approximation formula from the finance literature, we implement SGBM with one basis function and show that it is around six times faster than the equivalent Longstaff–Schwartz method. The two methods agree in price to one basis point, and th...

The paper presents recent developments in Morfeusz – a morphological analyser for Polish. The program, being already a fundamental resource for processing Polish, has been reimplemented with some important changes in the tagset, some new options, added information on proper names, and ability to perform simple prefix derivation. The present version of Morfeusz (including its dictionaries) is ma...

On the job search is a key feature of real life labor markets. Yet, traditional equilibrium unemployment theory has not been able to account for on-thejob search in a satisfactory manner. In this paper we present an equilibrium model which includes on-thejob search as an optimal response to search frictions and differences in firm productivity. Our model is laid out in detail in ongoing researc...

This paper studies the impact of financial innovations on real investment decisions. We model an incomplete market economy comprised of firms, investors and an intermediary. The firms face unique investment opportunities that are not spanned by the securities traded in the financial market, and thus, cannot be priced uniquely using the no-arbitrage principle. The specific innovation we consider...

This paper presents an empirical analysis of the value of a coordinated market exchange mechanism. I present a model of e cient trading mechanisms under uncertainty, and develop a measure of the value of an inter rm trade agreement in the context of sequential `buy-versus-produce' decisionmaking by rms. The theory is applied to estimate the value of a formal trading institution in the Californi...

The aim of this paper is to study the behavior of the agents that participate in the Spanish electricity market, for this purpose, the data that the Market Operator provides us after the period of confidentiality are analyzed. The objective is to know the operation to simulate the offerings of blocks the some of them. Market participants are companies authorized to participate in the electricit...

This paper estimates the markup for the Mexican manufacturing sector to detect the impact of trade liberalization on market power. Using Hall’s proposal that states that a procyclical Solow residual is an indication of market power, this research estimates the markup for different periods to detect the change in market power after trade liberalization was implemented. We account for the potenti...

A fter the 2014 Ebola outbreak, the World Bank committed to providing a financial mechanism to support global pandemic preparedness. In line with its mandate of creating new markets, the bank is proposing an insurance arrangement that does not simply pool donor money but creates a market for private sector investment. We outline the bank’s efforts to do so through the Pandemic Emergency Financi...