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Make-up strategies with incomplete markets and bounded rationality
Dobrew, Michael; Gerke, Rafael; Giesen, Sebastian; … - 2023
We study the impact of market incompleteness and bounded rationality on the effectiveness of make-up strategies. To do so, we simulate a heterogeneous-agent New Keynesian (HANK) model with reflective expectations and an occasionally-binding effective lower bound (ELB) on the policy rate. Our...
Persistent link: https://www.econbiz.de/10013493615
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Agency and communication in IMF conditional lending : theory and empirical evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
the countries' authorities, openness, and transparency, consistently with the theory. -- IMF conditionality ; delegation …
Persistent link: https://www.econbiz.de/10003908576
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Poolability and the finance-growth nexus : a cautionary note
Schiavo, Stefano (contributor); Vaona, Andrea (contributor) - 2006
The present contribution tests whether countries can be pooled when studying the financegrowth nexus. Overall, our results point toward a ‘pragmatic’ positive answer, though considerable heterogeneity is present among developing countries.
Persistent link: https://www.econbiz.de/10003380206
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The effect of information and communication technologies on urban structure
Ioannides, Yannis M.; Overman, Henry G.; … - 2007
Persistent link: https://www.econbiz.de/10003505310
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Demand systems with unit values : a comparison of two specifications
Lahatte, Agénor; Miquel, Ruth; Laisney, François; … - 1997
The availability of quantity information along with expenditure information in some household surveys allows the estimation of price reactions on the basis of unit values. We compare two specifications that have been proposed in this context by Deaton (1990) and Crawford et al. (1997) in order...
Persistent link: https://www.econbiz.de/10011427724
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The geography of inter-state resource wars
Caselli, Francesco; Morelli, Massimo; Rohner, Dominic - 2013
Persistent link: https://www.econbiz.de/10009746312
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The golden hello and political transitions
Aidt, Toke; Albornoz, Facundo; Gassebner, Martin - 2012
have taken place. We test this unexplored implication of the theory empirically. We find in a world sample from 1970 to …We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version … transitions ; democracy ; autocracy ; IMF ; World Bank …
Persistent link: https://www.econbiz.de/10009629705
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Do real exchange rate appreciations matter for growth?
Bussière, Matthieu; Lopez, Claude; Tille, Cédric - 2014
While the impact of exchange rate changes on economic growth has long been an issue of key importance in international macroeconomics, it has received renewed attention in recent years, owing to weaker growth rates and the debate on "currency wars". However, in spite of its prevalence in the...
Persistent link: https://www.econbiz.de/10010348280
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Equity premium prediction : are economic and technical indicators instable?
Baetje, Fabian; Menkhoff, Lukas - 2015
We show that technical indicators deliver economic value in predicting the U.S. equity premium. A crucial element of this value stems from the stability of return predictability over the full sample period from 1950 to 2013. Results tentatively improve over time and beat alternatives over...
Persistent link: https://www.econbiz.de/10010472502
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International investment positions and exchange rate dynamics
Binder, Michael; Offermanns, Christian J. - 2014
We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
Persistent link: https://www.econbiz.de/10010414236