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Currency substitution and the stability of the Italian demand for money before the entry into the monetary union, 1972 - 1998
Nielsen, Hannah; Tullio, Giuseppe; Wolters, Jürgen - 2000
A money demand function for M2 is estimated for Italy for the period 1972-1998 within an error correction framework … monetary policy. This study takes these changes into account. Moreover, currency substitution, especially between Italy and …
Persistent link: https://www.econbiz.de/10009611545
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Forecasting the real output using fractionally integrated techniques
Gil-Alaña, Luis A. - 2001
The annual structure of the real GDP in the UK, France, Germany and Italy is examined in this article by means of …
Persistent link: https://www.econbiz.de/10009613608
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Money and banks : some theory and empirical evidence for Germany
Holtemöller, Oliver - 2002
In a world with imperfect competition, market externalities or asymmetric information, the impact of money and monetary policy on the real sector depends on the way money is created. Two conflicting views of money supply can be distinguished in the literature: the endogeneity view and the...
Persistent link: https://www.econbiz.de/10009620766
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Fairness versus efficiency : an experimental study of (mutual) gift giving
Güth, Werner; Kliemt, Hartmut; Ockenfels, Axel - 2000
Fairness is a strong concern as shown by the robust results of dictator giving and ultimatum experiments. Efficiency … provision games. In our experiment participants can increase efficiency by gift giving at the cost of reducing their own … for mutual gift giving. In both cases decisions can be conditioned on whether there is or there is not an efficiency gain …
Persistent link: https://www.econbiz.de/10009612570
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Non-uniformity of job-matching in a transition economy : a nonparametric analysis for the Czech Republic
Profit, Stefan; Sperlich, Stefan - 1998
explorative study aims to shed some light into the black-box of the matching technology by applying nonparametric estimation …
Persistent link: https://www.econbiz.de/10009574874
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Nonparametric estimation and testing of interaction in additive models
Sperlich, Stefan; Tjostheim, Dag; Yang, Lijian - 1998
Estimation …
Persistent link: https://www.econbiz.de/10009574875
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The monetary model of the exchange rate : a structural interpretation
Moersch, Mathias; Nautz, Dieter - 1998
exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows …
Persistent link: https://www.econbiz.de/10009574885
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Semiparametric analysis of German East-West migration intentions : facts and theory
Burda, Michael C.; Härdle, Wolfgang; Müller, Marlene; … - 1997
East-West migration in Germany peaked at the beginning of the 90s although the average wage gap between Eastern and Western Germany continues to average about 25%. We analyze the propensity to migrate using microdata from the German Socioeconomic Panel. Fitting a parametric Generalized Linear...
Persistent link: https://www.econbiz.de/10009574896
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The Beveridge-Nelson decomposition : a different perspective with new results
Gómez, Víctor; Breitung, Jörg - 1998
We show in the paper that the decomposition proposed by Beveridge and Nelson (1981) for models that are integrated of order one can be generalized to seasonal Arima models by means of a partial fraction decomposition. Two equivalent algorithms are proposed to optimally (in the mean squared...
Persistent link: https://www.econbiz.de/10009577456
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A note on stochastic volatility, GARCH models, and hyperbolic distributions
Jaschke, Stefan R. - 1997
We establish a relation between stochastic volatility models and the class of generalized hyperbolic distributions. These distributions have been found to fit exceptionally well to the empirical distribution of stock returns. We review the background of hyperbolic distributions and prove...
Persistent link: https://www.econbiz.de/10009577459