Links between the Eurozone stock markets : a new perspective, considering the capitalization level
Vítor Gabriel, Helena Saraiva
Recent legalizations of cannabis at the state level in the United States have given rise to renewed interest in the price elasticity of demand for cannabis and implications for likely state excise and sales tax revenues. We use crowdsourced data on prices, qualities, and consumption of cannabis across regional markets in the United States to estimate the price elasticity of demand for cannabis. We use distances from growing areas to the major markets as a proxy for cost variations. We obtain an estimate of the price elasticity of demand for cannabis of -0.418, which suggests that legalizing and taxing recreational cannabis use would be lucrative for government treasuries.
Alternative title: | Relación entre los índices bursátiles europeos : una nueva perspectiva a partir de los niveles de capitalización |
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Year of publication: |
Junio 2017
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Authors: | Gabriel, Vítor ; Saraiva, Helena |
Published in: |
Revista de métodos cuantitativos para la economía y la empresa. - Sevilla : [Verlag nicht ermittelbar], ISSN 1886-516X, ZDB-ID 2584041-1. - Vol. 23.2017, p. 194-209
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Subject: | european stock markets | cap segments | vector autoregressive | cointegration | Aktienmarkt | Stock market | EU-Staaten | EU countries | Kointegration | Cointegration | Eurozone | Euro area | VAR-Modell | VAR model | Kapitaleinkommen | Capital income | Börsenkurs | Share price |
Saved in:
freely available
Type of publication: | Article |
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Type of publication (narrower categories): | Aufsatz in Zeitschrift ; Article in journal |
Language: | English |
Other identifiers: | hdl:10419/195418 [Handle] |
Classification: | G11 - Portfolio Choice ; G15 - International Financial Markets |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10011694292
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