Showing 1 - 10 of 65
means of a Markov switching-SVAR (MS-SVAR) model in heteroskedasticity. Using data from France, Germany, Italy, Japan, the … UK and the US we find that the restriction is rejected for Italy, supported at the 1% level for Japan and supported at …
Persistent link: https://www.econbiz.de/10011266592
Structural identification schemes are of essential importance to vector autoregressive (VAR) analysis. This paper tests a commonly used structural parameter identification scheme to assess whether it can properly capture fundamental and non-fundamental shocks to stock prices. In particular, five...
Persistent link: https://www.econbiz.de/10010729194
That partisanship is bounded. Almost every West German, East German and immigrant never supports one or both of the major parties and most people vary support for their party by claiming no partisan preference. Hardly anyone ever selects each of the parties at different points in time. Immediate...
Persistent link: https://www.econbiz.de/10005068815
The creation of the EU's Emission Trading Scheme (EU ETS) has turned the right to emit CO2 into a positively priced intermediate good for the affected firms. Firms thus face the decision whether to source compliance with the EU ETS within their boundaries or to acquire it through the permit...
Persistent link: https://www.econbiz.de/10010628353
This paper empirically investigates the relevance of liquidity constraints and excess sensitivity in intertemporal household consumption. Using a pseudo panel that has been constructed on rich German consumption survey data, we estimate the consumption responses to permanent and transitory...
Persistent link: https://www.econbiz.de/10010561138
income taxation on investment in case of binding and non-binding financial constraints. By employing two different sample … average tax rate to measure liquidity outflow through taxation that corporate taxation affects investment through changing …
Persistent link: https://www.econbiz.de/10009401159
This paper investigates the link between the optimal level of non-financial firms' liquid assets and industry-level uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as industry-level uncertainty increases the firm will increase its optimal...
Persistent link: https://www.econbiz.de/10005068997
In this paper, we construct the country-specific chronologies of the house price bubbles for 12 OECD countries over the period 1969:Q1- 2010:Q2. These chronologies are obtained using a combination of a fundamental and a filter approaches. The resulting speculative bubble chronology is the one...
Persistent link: https://www.econbiz.de/10009216692
Using high-frequency transaction data for the three largest European markets (France, Germany and Italy), this paper …
Persistent link: https://www.econbiz.de/10008742946
This paper investigates whether male soccer tradition can predict the success of female soccer. Different from the existing literature, this paper utilizes panel data covering 175 countries during the 1991-2011 period, capturing country heterogeneity effects and time trends. An instrumental...
Persistent link: https://www.econbiz.de/10010607548