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Classical Business Cycles for G7 and European Countries

Artis, Michael J; Kontolemis, Zenon G; Osborn, Denise - C.E.P.R. Discussion Papers - 1995

This paper proposes classical business cycle turning points for a number of countries based on industrial production. The countries selected are the G7 together with most major European countries. This information enables us to examine the international nature of cyclical movements. In...

Persistent link: https://www.econbiz.de/10005662258

Household Production and International Business Cycles

Canova, Fabio; Ubide, Angel J - C.E.P.R. Discussion Papers - 1995

This paper investigates the effects of introducing household production in an international real business cycle model. We show how a model driven by disturbances to the household production can account for some features of international cycles. A version of the model which considers shocks to...

Persistent link: https://www.econbiz.de/10005504316

International Business Cycles and the Dynamics of the Current Account

Elliott, Graham; Fatás, Antonio - C.E.P.R. Discussion Papers - 1995

This paper analyses the transmission of productivity shocks across countries and how the responses of investment and the current account differ depending on the degree of propagation of the shocks. We explore both issues by estimating a structural model for Japan, the United States and Europe....

Persistent link: https://www.econbiz.de/10005123648

From Learning to Partnership. Multinational R&D Cooperation in Developing Countries

Barba Navaretti, Giorgio; Carraro, Carlo - C.E.P.R. Discussion Papers - 1997

This paper is a first attempt to analyse the determinants of inter-firm R&D agreements between advanced and developing countries, i.e. between firms with asymmetric endowments of knowledge. It shows that international dispersion of R&D activity by multinationals also concerns developing...

Persistent link: https://www.econbiz.de/10005124163

Persistence, Performance and Prices in Foreign Exchange Markets

Ramadorai, Tarun - C.E.P.R. Discussion Papers - 2006

Using detailed data on currency transactions of institutional investors, this paper shows that funds that experience high returns on their currency holdings also execute currency trades at more favourable prices. This observation is consistent with foreign exchange dealers bidding for...

Persistent link: https://www.econbiz.de/10005788969

Hedge Funds: Performance, Risk and Capital Formation

Fung, William; Hsieh, David A; Naik, Narayan; … - C.E.P.R. Discussion Papers - 2006

We use a comprehensive dataset of Funds-of-Hedge-Funds (FoFs) to investigate performance, risk and capital formation in … superior performance over time. In keeping with this implication, we provide evidence that even successful hedge funds have … experienced a recent, dramatic decline in risk-adjusted performance. …

Persistent link: https://www.econbiz.de/10005792343

Paying for Performance with Altruistic or Motivated Providers

Siciliani, Luigi - C.E.P.R. Discussion Papers - 2007

We present a model of optimal contracting between a purchaser (a principal) and a provider (an agent). We assume that: a) providers differ in efficiency and there are two types of provider; b) efficiency is private information (adverse selection); c) providers are partially altruistic or...

Persistent link: https://www.econbiz.de/10005661600

Incentives in the Public Sector: Some Preliminary Evidence from a UK Government Agency

Burgess, Simon; Propper, Carol; Ratto, Marisa; Tominey, Emma - C.E.P.R. Discussion Papers - 2003

against our data. We find that team size affects the impact of the incentive scheme upon performance. Moreover, while the …

Persistent link: https://www.econbiz.de/10005498005

Competition and Firm Performance in Transition Economies: Evidence from Firm Level Surveys in Slovenia, Hungary and Romania

Konings, Jozef - C.E.P.R. Discussion Papers - 1997

In this paper firm level data are used to test whether competition affects productivity performance in three transition … pressure has a positive impact on firm performance in Hungary and Slovenia, but not in Romania, while in Romenia short …-run competitive pressure has a positive impact on performance. The paper also finds evidence that ownership matters. Traditional firms …

Persistent link: https://www.econbiz.de/10005498145

Are LPs Funds of Funds? Relationship Building in the Private Equity Industry

Massa, Massimo; Zhang, Hong; Zhou, Xiaolan - C.E.P.R. Discussion Papers - 2015

We investigate an informal yet important mechanism in the private equity industry that helps to reduce uncertainty: relationship building. Based on a large sample of private equity funds over the 1980-2010 period, we find that the general partners strategically allocate good funds to loyal...

Persistent link: https://www.econbiz.de/10011186612