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Witte, Kristof De; Dijkgraaf, Elbert - Tinbergen Instituut - 2007

See also the article 'Mean and bold: on separating merger economies from structural efficiency gains in the drinking … benchmarking aimed to increase the efficiency and effectiveness of the sector. Secondly, merger activity arose. This paper develops … a tailored nonparametric model to dissect and distinguish the effects on efficiency of these two evolutions. In …

Persistent link: https://www.econbiz.de/10011255577

Nonparametric Estimation for Non-Homogeneous Semi-Markov Processes: An Application to Credit Risk

Monteiro, Andre; Smirnov, Georgi V.; Lucas, Andre - Tinbergen Instituut - 2006

We propose procedures for estimating the time-dependent transition matrices for the general class of finite nonhomogeneous continuous-time semi-Markov processes. We prove the existence and uniqueness of solutions for the system of Volterra integral equations defining the transition matrices,...

Persistent link: https://www.econbiz.de/10011255640

Decomposing Portfolio Value-at-Risk: A General Analysis

Hallerbach, Winfried G. - Tinbergen Instituut - 1999

proposed estimation approach pairs intuitiveappeal with computational efficiency. We evaluate various alternative estimation …

Persistent link: https://www.econbiz.de/10011256282

Extracting Business Cycles using Semi-parametric Time-varying Spectra with Applications to US Macroeconomic Time Series

Koopman, Siem Jan; Wong, Soon Yip - Tinbergen Instituut - 2006

A growing number of empirical studies provides evidence that dynamic properties of macroeconomic time series have been changing over time. Model-based procedures for the measurement of business cycles should therefore allow model parameters to adapt over time. In this paper the time dependencies...

Persistent link: https://www.econbiz.de/10011256642

Transformed Polynomials for Nonlinear Autoregressive Models of the Conditional Mean

Blasques, Francisco - Tinbergen Instituut - 2012

This paper proposes a new set of transformed polynomial functions that provide a flexible setting for nonlinear autoregressive modeling of the conditional mean while at the same time ensuring the strict stationarity, ergodicity, fading memory and existence of moments of the implied stochastic...

Persistent link: https://www.econbiz.de/10011257412

New Evidence on Fungibility at the Aggregate Level

Marc, Lukasz - Tinbergen Instituut - 2012

This study examines the fungibility of foreign aid and makes three contributions to the existing literature. Firstly, fungibility of aid at the aggregate level is reexamined on a richer panel dataset of 91 developing countries for 1980-2009, taking into account endogeneity of aid and...

Persistent link: https://www.econbiz.de/10011256640

A Theory of Policy Reversal

Dur, Robert A.J.; Swank, Otto H. - Tinbergen Instituut - 1997

After decades of government growth, Western countries have witnessed major policy reversals. Prominent examples include the far-reaching policy reversals implemented by Thatcher, Reagan, and Douglas. This paper offers an explanation for these policy reversals. Our key argument rests on the...

Persistent link: https://www.econbiz.de/10011256715

Transmission of Government Spending Shocks in the Euro Area: Time Variation and Driving Forces

Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - Tinbergen Instituut - 2010

This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...

Persistent link: https://www.econbiz.de/10011257061

The Causal Links between Aid and Government Expenditures

Marc, Lukasz - Tinbergen Instituut - 2014

The most recent literature on aid effectiveness finds a positive effect of aid on growth. To the extent that aid goes through the budget, this either reflects an aid-financed increase in government expenditures (quantity effect) or an improvement in the use of government resources as a result of...

Persistent link: https://www.econbiz.de/10011257144

Informal Sector in Developed and less Developed Countries: A Literature Survey

Gerxhani, Klarita - Tinbergen Instituut - 1999

The main goal of this study is two-fold: (1) to provide a general overview of thecontributions to the literature on the informal sector, with a special focus on the PublicChoice approach; and (2) to compare these contributions across two institutionallydifferent types of countries: developed and...

Persistent link: https://www.econbiz.de/10011255865

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