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Logit Price Dynamics
Costain, James S. - 2013
We propose a near-rational model of retail price adjustment consistent with microeconomic and macroeconomic evidence on price dynamics. Our framework is based on the idea that avoiding errors in decision making is costly. Given our assumed cost function for error avoidance, the timing of firms'...
Persistent link: https://www.econbiz.de/10013087226
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Trade and Credit : Revisiting the Evidence
Gutiérrez Chacón, Eduardo - 2019
This paper explores the effects of bank lending shocks on export behavior of Spanish firms. For that purpose, we combine Balance of Payments data on exports at the firm product-destination level with a matched bank-firm dataset incorporating information on the universe of corporate loans from...
Persistent link: https://www.econbiz.de/10012894264
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International Migration Pressures in the Long Run
Campos, Rodolfo G. - 2017
migration flows for the whole world. In contrast to their findings, and despite of the slowdown of population growth in Latin … America, the US will face sustained immigration pressures because of strong population growth in other regions of the world …, leading to a projected immigrant stock that grows for decades to come. For the world as a whole, international migrants are …
Persistent link: https://www.econbiz.de/10012944491
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Development, Growth and Volatility
Moro, Alessio - 2010
theory of development consistent with these three facts. I show that even when total factor productivity (TFP) growth and …
Persistent link: https://www.econbiz.de/10013141336
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Is Infrastructure Capital Productive? A Dynamic Heterogeneous Approach
Calderón, César - 2011
This paper offers an evaluation of the output contribution of infrastructure. Drawing from a large data set of infrastructure stocks covering 88 countries and spanning the years 1960-2000, and using a panel time-series approach, the paper estimates a long-run aggregate production function...
Persistent link: https://www.econbiz.de/10013127893
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International Financial Flows, Real Exchange Rates and Cross-Border Insurance
Viani, Francesca - 2011
Whether cross-border financial market integration has raised global insurance, is still a controversial issue in the literature. If this is so, what should we observe in the data? The insurance literature emphasizes that efficient risk-sharing requires financial markets to channel resources to...
Persistent link: https://www.econbiz.de/10013131344
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Determinants of Economic Growth : A Bayesian Panel Data Approach
Moral-Benito, Enrique - 2010
investment goods, distance to major world cities, and political rights …
Persistent link: https://www.econbiz.de/10013137102
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Income and Democracy : Revisiting the Evidence
Moral-Benito, Enrique - 2011
It is well-known in the literature that income per capita is strongly correlated with the level of democracy across countries. In an influential paper, Acemoglu et al. (2008) find that this linear correlation disappears once they control for country-specific effects focusing on within-country...
Persistent link: https://www.econbiz.de/10013122635
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Growth Empirics in Panel Data Under Model Uncertainty and Weak Exogeneity
Moral-Benito, Enrique - 2013
This paper considers panel growth regressions in the presence of model uncertainty and reverse causality concerns. For this purpose, my econometric framework combines Bayesian Model Averaging with a suitable likelihood function for dynamic panel models with weakly exogenous regressors and fixed...
Persistent link: https://www.econbiz.de/10013089196
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Heterogeneity and Cross-Country Spillovers in Macroeconomic-Financial Linkages
Ciccarelli, Matteo - 2013
We investigate heterogeneity and spillovers in macro-financial linkages across developed economies, with a particular emphasis on the most recent recession. A panel Bayesian VAR model including real and financial variables identifies a statistically significant common component, which proves to...
Persistent link: https://www.econbiz.de/10013089300