Showing 1 - 10 of 91
Persistent link: https://www.econbiz.de/10005661292
This paper analyses the design of carbon markets in time (i.e., intertemporally). It is part of a twin set of papers that ask, starting from first principles, what an optimal global carbon market would look like by around 2030. Our focus is on firm-level cap-and-trade systems, although much of...
Persistent link: https://www.econbiz.de/10011126649
models. The recent financial crisis, however, shows that market prices can give very misleading signals for long periods, and … asymmetries and market power in distorting the wisdom of prices. …
Persistent link: https://www.econbiz.de/10011071336
wage workers could have passed on any higher labour costs resulting from the minimum wage in the form of higher prices …. This study looks at the effects of the minimum wage on the prices of UK goods and services by comparing prices of goods … produced by industries in which UK minimum wage workers make up a substantial share of total costs with prices of goods and …
Persistent link: https://www.econbiz.de/10010884638
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Persistent link: https://www.econbiz.de/10005661287
This paper is an empirical investigation into the duration of exchange rate episodes characterized by the absence of speculative attacks. We estimate a duration model for OECD countries during the 1970-1997 period. Specifically, we use semi-parametric methods to estimate model with unrestricted...
Persistent link: https://www.econbiz.de/10010744847
This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance model of exchange rates to consider whether the dollar might be affected by a change in transactions costs that alters international portfolio allocations. Our empirical findings...
Persistent link: https://www.econbiz.de/10010745774
We document that cross-sectional FX correlation disparity is countercyclical, as exchange rate pairs with high average correlation become more correlated in bad times whereas pairs with low average correlation become less correlated. We show that currencies that perform badly (well) during...
Persistent link: https://www.econbiz.de/10011170089
employment, investment and productivity, and a moderate loss in GDP. This temporary impact of a second moment shock is different …
Persistent link: https://www.econbiz.de/10010744930