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Trust in Public Institutions over the Business Cycle

Stevenson, Betsey; Wolfers, Justin - C.E.P.R. Discussion Papers - 2011

the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial …We document that trust in public institutions--and particularly trust in banks, business and government--has declined … over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in …

Persistent link: https://www.econbiz.de/10008925712

Supermarkets and Planning Regulation

Griffith, Rachel; Harmgart, Heike - C.E.P.R. Discussion Papers - 2008

We are interested in evaluating the impact of restrictive planning regulation on entry into the UK grocery retail …

Persistent link: https://www.econbiz.de/10005788990

Regulation and UK Retailing Productivity: Evidence from Micro Data

Haskel, Jonathan; Sadun, Raffaella - C.E.P.R. Discussion Papers - 2009

with a lowering of chain TFP by about 0.4% pa, about 40% of the post-1995 slowdown in UK retail TFP growth. The foregone …

Persistent link: https://www.econbiz.de/10005136776

Heterogeneity in Wage Setting Behavior in a New-Keynesian Model

Eijffinger, Sylvester C W; Grajales, Anderson; Uras, … - C.E.P.R. Discussion Papers - 2015

In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

Persistent link: https://www.econbiz.de/10011249376

Takeovers and the Dynamics of Information Flows

Chemla, Gilles - C.E.P.R. Discussion Papers - 2003

This Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business relationships. We consider a long-term relationship between a firm and a privately-informed stakeholder, a buyer for example. In our model, takeovers both increase the surplus from...

Persistent link: https://www.econbiz.de/10005662138

Currency Unions and International Integration

Engel, Charles M; Rose, Andrew K - C.E.P.R. Discussion Papers - 2001

This Paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone and the East Caribbean Currency Area). We empirically explore different features of currency unions, and compare them both to countries with sovereign monies, and to regions within...

Persistent link: https://www.econbiz.de/10005666442

Why do within firm-product export prices differ across markets?

Görg, Holger; Halpern, László; Muraközy, Balázs - C.E.P.R. Discussion Papers - 2010

constant markups. The differences are important quantitatively; price differences in Hungarian exports between Germany and the …

Persistent link: https://www.econbiz.de/10008530371

Financial Integration: A New Methodology and an Illustration

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 2003

This Paper develops a simple new methodology to test for asset integration and applies it within and between American stock markets. Our technique is tightly based on a general intertemporal asset-pricing model, and relies on estimating and comparing expected risk-free rates across assets....

Persistent link: https://www.econbiz.de/10005497716

Estimating the Expected Marginal Rate of Substitution: Exploiting Idiosyncratic Risk

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 2004

This Paper develops a simple but general methodology to estimate the expected intertemporal marginal rate of substitution or ‘EMRS’, using only data on asset prices and returns. Our empirical strategy is general, and allows the EMRS to vary arbitrarily over time. A novel feature of our...

Persistent link: https://www.econbiz.de/10005656417

Making Democracy Work: Culture, Social Capital and Elections in China

Padró i Miquel, Gerard; Qian, Nancy; Xu, Yiqing; Yao, Yang - C.E.P.R. Discussion Papers - 2015

This paper aims to show that culture is an important determinant of the effectiveness of formal democratic institutions, such as elections. We collect new data to document the presence of voluntary and social organizations and the history of electoral reforms in Chinese villages. We use the...

Persistent link: https://www.econbiz.de/10011213313