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Financial concentration and development: an empirical analysis of the Venezuelan case

Marquez, Jaime; Shack-Marquez, Janice - Federal Reserve Board (Board of Governors of the … - 1987

Persistent link: https://www.econbiz.de/10005368253

Econometric modeling of consumers' expenditure in Venezuela

Campos, Julia; Ericsson, Neil R. - Federal Reserve Board (Board of Governors of the … - 1988

Starting from a theoretical model with optimizing economic agents, we develop a highly parsimonious econometric model of consumers' expenditure on non-durables and services in Venezuela for 1970-85. Disposable income, liquidity, and inflation determine expenditure in an economically sensible...

Persistent link: https://www.econbiz.de/10005368482

Constructive data mining: modeling consumers' expenditure in Venezuela

Campos, Julia; Ericsson, Neil R. - Federal Reserve Board (Board of Governors of the … - 2000

Hoover and Perez (1999) advocate a constructive approach to data mining. The current paper identifies four pejorative senses of data mining and shows how Hoover and Perez's approach counters each. To assess the benefits of constructive data mining, the current paper applies a data-mining...

Persistent link: https://www.econbiz.de/10005372531

Financial innovation and the speed of adjustment of money demand: evidence from Bolivia, Israel, and Venezuela

Copelman, Martina - Federal Reserve Board (Board of Governors of the … - 1996

Traditional studies of money demand for both developed and less developed countries have shown that there are periods of "missing money," that is, there is consistent overprediction of real balances. This paper uses cointegration techniques to study the effects of financial innovation on the...

Persistent link: https://www.econbiz.de/10005712846

Political and economic consequences of alternative privatization strategies

Mann, Catherine L.; Lenway, Stefanie; Utter, Derek - Federal Reserve Board (Board of Governors of the … - 1993

The different approaches to large-scale privatization in Hungary, Poland, and the Czech Republic imply somewhat … privatization strategies could affect macroeconomic performance and the development of constituencies in favor of or against …

Persistent link: https://www.econbiz.de/10005498826

Social security privatization: what it can and cannot accomplish

Mariger, Randall P. - Federal Reserve Board (Board of Governors of the … - 1997

This paper assesses the effect of social security privatization on the government budget, economic efficiency, national … savings, and the distribution of resources across generations. It is shown that the benefits of privatization most often … touted by privatization advocates can be achieved by simply altering taxes and social security pensions and leaving the basic …

Persistent link: https://www.econbiz.de/10005393727

The effects of social security privatization on household saving: evidence from the Chilean experience

Coronado, Julia Lynn - Federal Reserve Board (Board of Governors of the … - 1998

-as-you-go (PAYGO) to partial or full funding. Privatization is viewed as one way to insulate social security from the political and … demographic pressures that currently threaten the financial stability of PAYGO systems. However, privatization would improve a …

Persistent link: https://www.econbiz.de/10005513036

Offshoring, Mismatch, and Labor Market Outcomes

Arseneau, David M.; Epstein, Brendan - Federal Reserve Board (Board of Governors of the … - 2014

We study the role of labor market mismatch in the adjustment to a trade liberalization that results in the offshoring of high-tech production. Our model features two-sided heterogeneity in the labor market: high- and low-skilled workers are matched in a frictional labor market with high- and...

Persistent link: https://www.econbiz.de/10010937979

Cash flows and discount rates, industry and country effects, and co-movement in stock returns

Ammer, John; Wongswan, Jon - Federal Reserve Board (Board of Governors of the … - 2004

This paper examines the relative importance of global, country-specific, and industry-specific factors in both the cash flow and discount rate components of equity returns between 1995 and 2003. Our framework draws upon previously separate literatures on country versus industry effects and...

Persistent link: https://www.econbiz.de/10005368137

Is the corporate loan market globally integrated? a pricing puzzle

Carey, Mark; Nini, Greg - Federal Reserve Board (Board of Governors of the … - 2004

We offer evidence that interest rate spreads on syndicated loans to corporate borrowers are economically significantly smaller in Europe than in the U.S., other things equal. Differences in borrower, loan and lender characteristics associated with equilibrium mechanisms suggested in the...

Persistent link: https://www.econbiz.de/10005368403