Similar Search Results

The delayed response to a technology shock: a flexible price explanation

Vigfusson, Robert J. - Federal Reserve Board (Board of Governors of the … - 2004

I present empirical evidence of how the U.S. economy, including per-capita hours worked, responds to a technology shock. In particular, I present results based on permanent changes to a constructed direct measure of technological change for U.S. manufacturing industries. Based on empirical...

Persistent link: https://www.econbiz.de/10005368140

Distributional dynamics under smoothly state-dependent pricing

Costain, James; Nakov, Anton - Federal Reserve Board (Board of Governors of the … - 2011

Starting from the assumption that firms are more likely to adjust their prices when doing so is more valuable, this …

Persistent link: https://www.econbiz.de/10009364675

Rising inequality: transitory or permanent? New evidence from a U.S. panel of household income 1987-2006

DeBacker, Jason; Heim, Bradley; Panousi, Vasia; … - Federal Reserve Board (Board of Governors of the … - 2011

We use a new and large panel dataset of household income to shed light on the permanent versus transitory nature of rising inequality in individual male labor earnings and in total household income, both before and after taxes, in the United States over the period 1987-2006. Due to the quality...

Persistent link: https://www.econbiz.de/10009390669

The usefulness of core PCE inflation measures

Detmeister, Alan K. - Federal Reserve Board (Board of Governors of the … - 2011

This paper examines a number of alternative PCE price inflation measures including overall PCE inflation, PCE inflation excluding food and energy, trimmed mean PCE inflation, component-smoothed inflation, variance-weighted inflation, inflation with weights based on disaggregated regressions, and...

Persistent link: https://www.econbiz.de/10009395283

Who benefits from a bull market? an analysis of employee stock option grants and stock prices

Liang, Nellie; Weisbenner, Scott - Federal Reserve Board (Board of Governors of the … - 2001

prices in recent years. This paper examines the growth in stock option grants at S&P 1500 companies between 1996 and 1999 … positive relationship between firms' stock prices and the value of new option grants. We find substantial sensitivities for … executives, the sensitivities for employees below the senior management levels do not differ by whether firm stock prices have …

Persistent link: https://www.econbiz.de/10005720979

Expectations of risk and return among household investors: Are their Sharpe ratios countercyclical?

Amromin, Gene; Sharpe, Steven A. - Federal Reserve Board (Board of Governors of the … - 2008

Data obtained from special questions on the Michigan Survey of Consumer Attitudes over several years are used to analyze stock market beliefs and portfolio choices of household investors. Consistent with other survey results, expected future returns appear to be extrapolated from past realized...

Persistent link: https://www.econbiz.de/10005721010

Evidence of excess returns on firms that issue or repurchase equity

Nelson, William R. - Federal Reserve Board (Board of Governors of the … - 1999

Between 1927 and 1992, portfolios of the stock of the 5 percent of firms with the lowest annual growth in shares outstanding (generally a reduction in shares outstanding) posted returns over the subsequent five years that averaged 12 percentage points more per year than the returns to portfolios...

Persistent link: https://www.econbiz.de/10005721226

Confidence intervals for long-horizon predictive regressions via reverse regressions

Wei, Min; Wright, Jonathan - Federal Reserve Board (Board of Governors of the … - 2009

Long-horizon predictive regressions in finance pose formidable econometric problems when estimated using the sample sizes that are typically available. A remedy that has been proposed by Hodrick (1992) is to run a reverse regression in which short-horizon returns are projected onto a long-run...

Persistent link: https://www.econbiz.de/10004994089

The Stambaugh bias in panel predictive regressions

Hjalmarsson, Erik - Federal Reserve Board (Board of Governors of the … - 2007

This paper analyzes predictive regressions in a panel data setting. The standard fixed effects estimator suffers from a small sample bias, which is the analogue of the Stambaugh bias in time-series predictive regressions. Monte Carlo evidence shows that the bias and resulting size distortions...

Persistent link: https://www.econbiz.de/10005498753

Motor vehicle stocks, scrappage, and sales

Greenspan, Alan; Cohen, Darrel - Federal Reserve Board (Board of Governors of the … - 1996

set of assumptions about demographic trends, the state of the economy, consumer "preferences," new vehicle prices and …, a new historical annual time series estimate of motor vehicle stocks in the United States is presented. …

Persistent link: https://www.econbiz.de/10005513050

1
2
3
4
5
6
7
8
9
10
Next
Last