We analyze a unique dataset to test an empirical model of retail bank fee determinants in five Central European countries. Due to the data structure we can cope with heterogeneity and cross-subsidization by employing a representative fee index instead of using variables associated with...

In this paper, I investigate the effect of the takeover of a Slovak petroleum firm on its price setting mechanism. In particular, I tested the changes in the reaction of output (fuel) price on input (dollar and crude oil) prices and competitors' prices (approximated by the reference Commodity...

The empirical transition literature on the comparison of restructuring prior to privatization is quite limited. Macedonia is a specific case among transition economies where a large number of break-ups occurred at the beginning of privatization. Using firm-level data, we estimate the effects of...

Rietz (1988) and Barro (2006) subject consumption and dividends to rare disasters in the growth rate. We extend their framework and subject consumption and dividends to rare disasters in the growth persistence. Wemodel growth persistence by means of two hidden types of economic slowdowns:...

We examine a trivariate time series model that is subject to a regime switch, where the shifts are governed by an unobserved, two-state variable that follows a Markov process. The analysis is performed in a Bayesian framework developed by Albert and Chib (1993), where the unobserved states are...

We show that the business education/occupations have expanded and that the technical education/occupations have contracted in the Czech Republic and Poland since 1990. We interpret these changes as an adjustment necessary for their transition to a market economy. We do not find the same pattern...

We identify the causal effect of cognitive abilities on economic behavior in an experimental setting. Using a forecasting task with varying cognitive load, we identify the causal effect of working memory on subjects' forecasting performance, while also accounting for the effect of other...

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so-called uncertainty effect, namely, that people value a binary lottery over non-monetary outcomes less than other people value the lottery’s worse outcome. While the authors implemented a verbal...

Drawing on Gneezy and Rustichini (2000), we illustrate that subjects' cognitive abilities seem at least as important for their performance as do financial incentives they face. Theorists should thus pay more attention to the ability aspect of cognitive production.

This paper extends existing evidence on the interaction and relative productivity of cognitive effort and cognitive capital in an experimental environment. I focus on the impact of task-specific cognitive capital, which is central to the capital-labor argument of Camerer and Hogarth (1999) as...