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Fragmentation, globalization and labor markets

Burda, Michael C.; Dluhosch, Barbara - 2001 - Rev.

Fragmentation of the value-added-chain is modeled as the reaction of monopolistically competitive firms to the removal of barriers to trade and factor mobility in an integrated trading environment. Since fragmentation requires high-skilled labor, this form of globalization can induce labor...

Persistent link: https://www.econbiz.de/10009614300

The empirical determinants of the Euro : short and long run perspectives

Chinn, Menzie David - 2000

estimation methodologies such as single-equation error correction and first differences specifications. A longer term perspective … is provided by a productivity-based model of the real value of the euro. Some panel regression estimates of the … relationship between intercountry relative productivity differentials and real exchange rates is presented. Using these estimates …

Persistent link: https://www.econbiz.de/10009583879

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

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

Flexible stochastic volatility structures for high frequency financial data

Feldmann, David; Härdle, Wolfgang; Hafner, Christian M.; … - 1998

Stochastic Volatility (SV) models are widely used in financial applications. To decide whether standard parametric restrictions are justified for a given dataset, a statistical test is required. In this paper, we develop such a test based on the linear state space representation. We provide a...

Persistent link: https://www.econbiz.de/10009578026

Forecasting performance of market share attraction models : a comparison of different models assuming that competitors’ actions are forecasts

Klapper, Daniel; Herwartz, Helmut - 1998

Persistent link: https://www.econbiz.de/10009578563

Modelling exchange rates volatility with multivariate long-memory ARCH processes

Teyssière, Gilles - 1999 - Rev.

, and the Deutschmark-US dollar. The estimation results for both models show: (i) that the unrestricted model outperforms …

Persistent link: https://www.econbiz.de/10009579181

Testing for short and long-run causality : the case of the yield spread and economic growth

Breitung, Jörg; Candelon, Bertrand - 2001

To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short-run from long-run predictability by using two different approaches. First, following Dufour and Renault (1998) a test procedure is proposed to test for causality at different...

Persistent link: https://www.econbiz.de/10009617950

Money and banks : some theory and empirical evidence for Germany

Holtemöller, Oliver - 2002

. -- monetary policy ; Endogenous money ; industrial organization approach to banking theory ; money multiplier ; vector error …

Persistent link: https://www.econbiz.de/10009620766

A simple state space model of house prices

Schulz, Rainer; Werwatz, Axel - 2002

Persistent link: https://www.econbiz.de/10009622676

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