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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

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

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

Efficient hedging : cost versus shortfall risk

Föllmer, Hans; Leukert, Peter - 1999

An investor faced with a contingent claim may eliminate risk by (super-)hedging in a financial market. As this is often quite expensive, we study partial hedges, which require less capital and reduce the risk. In a previous paper we determined quantile hedges which succeed with maximal...

Persistent link: https://www.econbiz.de/10009579176

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