We introduce a dynamic panel threshold model to estimate inflation thresholds for long-term economic growth. Advancing on Hansen (J Econom 93:345–368, <CitationRef CitationID="CR14">1999</CitationRef>) and Caner and Hansen (Econom Theory 20:813–843, <CitationRef CitationID="CR7">2004</CitationRef>), our model allows the estimation of threshold effects with panel data even in...</citationref></citationref>

This paper provides new evidence on the causes and consequences of herding by institutional investors. Using a comprehensive database of every transaction made by financial institutions in the German stock market, we show that institutions exhibit herding behavior on a daily basis. Herding...