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Product-Based Cultural Change: Is the Village Global?

Maystre, Nicolas; Olivier, Jacques; Thoenig, Mathias; … - C.E.P.R. Discussion Papers - 2009

This paper makes three contributions to the growing literature on culture and economics. Using answers to the World Values Survey for a sample of 79 countries over the 1989-2004 period, we first provide evidence of cultural homogenization between countries. Second, we provide a model of...

Persistent link: https://www.econbiz.de/10005082538

Endogenous Growth and Stochastic Trends

Fatás, Antonio - C.E.P.R. Discussion Papers - 1996

This paper shows that there exists a strong positive correlation between long-term growth rates and the persistence of … output fluctuations in a cross section of countries. We argue that the traditional explanation of persistence, a real …, output fluctuations are persistent and the degree of persistence is an increasing function of long-term growth rates. Growth …

Persistent link: https://www.econbiz.de/10005124049

Performance and Characteristics of Swedish Mutual Funds 1993-97

Dahlquist, Magnus; Engström, Stefan; Söderlind, Paul - C.E.P.R. Discussion Papers - 1999

The performance, and its characteristics, of Swedish-based equity and bond mutual funds are studied in detail. Accounting for survivorship biases, regular equity funds have a slight overperformance, equity funds with certain tax advantages have a negative performance (before tax), and bond funds...

Persistent link: https://www.econbiz.de/10005136548

A Variance Ratio Related Prediction Tool with Application to the NYSE Index 1825-2002

Kandel, Shmuel; Zilca, Shlomo - C.E.P.R. Discussion Papers - 2004

asset prices, such as short-term persistence and volatility clustering of unconditional returns. …

Persistent link: https://www.econbiz.de/10005067377

Noisy Financial Signals and Persistent Effects of Nominal Shocks in Open Economies

Andersen, Torben M; Beier, Niels C - C.E.P.R. Discussion Papers - 2000

Floating exchange rates display substantial short-run volatility causing a nontrivial information problem in disentangling temporary from permanent changes. Although agents observe current market signals they are imperfectly informed about the future, but they accumulate information and learn...

Persistent link: https://www.econbiz.de/10005067427

The Poor Stay Poor: Non-Convergence Across Countries and Regions

Canova, Fabio; Marcet, Albert - C.E.P.R. Discussion Papers - 1995

We study the issue of income convergence across countries and regions with a Bayesian model which allows us to use information in an efficient and flexible way. We argue that the very slow convergence rates to a common level of per-capita income found, for example, by Barro and Sala-i-Martin, is...

Persistent link: https://www.econbiz.de/10005067447

Fair Wages in a New Keynesian Model of the Business Cycle

Danthine, Jean-Pierre; Kurmann, Andre - C.E.P.R. Discussion Papers - 2002

marginal cost with respect to output. The smoother dynamics of real marginal cost increase both amplification and persistence …

Persistent link: https://www.econbiz.de/10005067494

The Behaviour of Relative Prices in the European Union: A Sectoral Analysis

Chen, Natalie - C.E.P.R. Discussion Papers - 2002

Using multivariate unit root test methods, this Paper investigates the Purchasing Power Parity (PPP) hypothesis at the sectoral level across six European countries over the last seventeen years. Evidence of mean reversion toward PPP is found for the relative prices of some sectors and countries....

Persistent link: https://www.econbiz.de/10005504281

The Structural Dynamics of Output Growth and Inflation: Some International Evidence

Canova, Fabio; Gambetti, Luca; Pappa, Evi - C.E.P.R. Discussion Papers - 2006

We examine the dynamics of output growth and inflation in the US, Euro area and UK using a structural time varying coefficient VAR. There are important similarities in structural inflation dynamics across countries; output growth dynamics differ. Swings in the magnitude of inflation and output...

Persistent link: https://www.econbiz.de/10005114193

Persistence of Power, Elites and Institutions

Acemoglu, Daron; Robinson, James A - C.E.P.R. Discussion Papers - 2006

We construct a model of simultaneous change and persistence in institutions. The model consists of landowning elites … (stochastic) equilibrium distribution of economic institutions, leading to a particular form of persistence in equilibrium …

Persistent link: https://www.econbiz.de/10005114453