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Strong Orthogonal Decompositions and Non-Linear Impulse Response Functions for Infinite Variance Processes

Hill, Jonathan B. - EconWPA - 2004

In this paper we prove Wold-type decompositions with strong-orthogonal prediction innovations exist in smooth, reflexive Banach spaces of discrete time processes if and only if the projection operator generating the innovations satisfies the property of iterations. Our theory includes as special...

Persistent link: https://www.econbiz.de/10005119165

The Modern World: The effect of democracy, colonialism and war on economic growth 1820-2000

Milanovic, Branko - EconWPA - 2005

The paper uses the recently available data on growth rates, democracy, protectionism, and wars over the period 1820 to … the effect of democracy on growth, was colonialism economically bad for colonies, does protectionism affect growth … negatively, what is the effect of wars? We find that own democracy has a significant positive impact on growth which increases as …

Persistent link: https://www.econbiz.de/10005062416

Where Have All the Minutes Gone? Asymmetric Telecom Liberalization, Carrier Alliances, and Gaming of International Settlements

Schwartz, Marius; Malueg, David - EconWPA - 1998

Inflated retail prices and termination rates for international telecommunications have spawned traffic re-routing practices, including call turnaround (e.g., callback) and re-origination via third countries. The US and other liberalized countries that allow telecom competition favor such...

Persistent link: https://www.econbiz.de/10005134403

Choice and performance of governance mechanisms: Matching contractual and relational governance to sources of asset specificity

Hoetker, Glenn; Mellewigt, Thomas - EconWPA - 2004

mechanisms. Using data on alliances in the German telecommunications industry, we find that the choice of governance mechanisms … contribute to the literature on alliances, as well as the underlying literatures of transaction cost economics, the literature on …

Persistent link: https://www.econbiz.de/10005134458

Alliances and Negotiations

MAnzini, Paola; Mariotti, Marco - EconWPA - 2000

A characteristic of many bargaining situations is that the negotiators represents the interests of a set of parties (trade unions, political parties, etc.) with composite interests, whose bargaining behaviour is regulated by some collective decision mechanism. In this paper we provide a natural...

Persistent link: https://www.econbiz.de/10005550932

Western Institution Building:The War, Hayek’s Cosmos and the WTO

Killion, M. Ulric - EconWPA - 2005

Despite the shortcomings of Hayek’s spontaneous order, there is a positive side, perhaps even a positive feedback. Hayek left us with a “what if” question and returns us to that initial opening of Pandora’s Box, or perhaps the initial onset of neo-realism, neo-liberalism,...

Persistent link: https://www.econbiz.de/10005407658

Why Do Investors Still Hope? The Soviet Repudiation Puzzle (1918- 1919)

Kim, Oosterlinck - EconWPA - 2004

Based on an original database, this paper provides an empirical study of Tsarist bond prices reactions after their repudiation by the Soviets. For the two years following the repudiation two striking features of a representative Tsarist bond traded in Paris are highlighted: first, the price...

Persistent link: https://www.econbiz.de/10005556882

A PUSH TO GEORGE ( IN ) BUSH

DR.VSR.SUBRAMANIAM - EconWPA - 2005

An imperative need has arisen to provide a Constructive push to the President Bush. American population, Corporate units, Expatriates and all nations with their currency related to US $, are not happy in the current $ dipping situation. Even the currencies of poor nations are galloping upward in...

Persistent link: https://www.econbiz.de/10005556940

Terrorism Prevention: A General Model

Dietrich, Franz - EconWPA - 2004

In this paper, I present and discuss a method for modelling an important trade-off faced by terrorism prevention policies: the trade-off between, on the one hand, trying to reduce people's inclination towards terrorism, and, on the other hand, trying to protect society against existing...

Persistent link: https://www.econbiz.de/10005118920

Relationship between Income and Emergence of Democracy Reexamined, 1820-2000: A non-parametric approach

Milanovic, Branko - EconWPA - 2005

The paper contrasts Lipset’s modernization hypothesis and Przeworski- Limongi hypothesis that entries into democracy … are random with respect to income. We use data on income and democracy going back to 1820, multiple definitions of … democracy, and non-parametric testing focusing on the distribution of entrants’ incomes. We find that income matters for entry …

Persistent link: https://www.econbiz.de/10005076629