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Abbring, Jaap H; den Berg, Gerard J van; Ours, Jan C van - C.E.P.R. Discussion Papers - 1995

This paper examines the relation between individual unemployment durations and incidence on the one hand, and the time-varying macroeconomic conditions in the economy on the other. We allow for calendar time effects acting on the exit probabilities for all currently unemployed. We also allow for...

Persistent link: https://www.econbiz.de/10005123747

Hot and Cold Seasons in the Housing Market

Ngai, Liwa Rachel; Tenreyro, Silvana - C.E.P.R. Discussion Papers - 2013

fourth and first quarters (the "cold season"). House price seasonality poses a challenge to existing models of the housing …, deterministic driver of seasonality can be amplified and revealed as deterministic seasonality in transactions and prices …

Persistent link: https://www.econbiz.de/10011083859

Seasonality and the Effect of Advertising on Price

Genesove, David; Simhon, Avi - C.E.P.R. Discussion Papers - 2008

price on log advertising (and trend), in which monthly dummies are used as instruments. Using Israeli data we find a … sufficiently large degree of advertising seasonality to justify estimation by the LIML or Fuller-k method. Among those industries …, only a few exhibit a significant response of price to advertising. The interpretation of these results depends on the …

Persistent link: https://www.econbiz.de/10005666809

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

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

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

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