Similar Search Results

Endogenous Public Information and Welfare

Vives, Xavier - C.E.P.R. Discussion Papers - 2011

internal efficiency benchmark (accounting only for the collective welfare of the active players). However, received results …

Persistent link: https://www.econbiz.de/10009148881

The Social Cost of Near-Rational Investment

Hassan, Tarek; Mertens, Thomas M. - C.E.P.R. Discussion Papers - 2014

We show that the stock market may fail to aggregate information even if it appears to be efficient and that the resulting decrease in the information content of stock prices may drastically reduce welfare. We solve a macroeconomic model in which information about fundamentals is dispersed and...

Persistent link: https://www.econbiz.de/10011083430

The Ex Ante Auction Model for the Control of Market Power in Standard Setting Organizations

Geradin, Damien; Layne-Farrar, Anna; Padilla, Atilano Jorge - C.E.P.R. Discussion Papers - 2007

RAND commitments - i.e., promises to license on reasonable and non-discriminatory terms - play a key role in standard setting processes. However, the usefulness of those commitments has recently been questioned. The problem allegedly lies in the absence of a generally agreed test to determine...

Persistent link: https://www.econbiz.de/10005791937

Measurement Error in Education and Growth Regressions

Alessie, Rob; Portela, Miguel; Teulings, Coen N - C.E.P.R. Discussion Papers - 2004

The perpetual inventory method used for the construction of education data per country leads to systematic measurement … error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the … the measurement error. The standard attenuation bias suggests that using these corrected data would lead to a higher …

Persistent link: https://www.econbiz.de/10005788941

Monetary Misperceptions, Output and Inflation Dynamics

Collard, Fabrice; Dellas, Harris - C.E.P.R. Discussion Papers - 2010

We revisit the contribution of misperceived money to business cycles, and in particular to the inertial dynamics of inflation following a monetary policy shock. We establish three things. First, the difference between preliminary and revised money data captures monetary misperceptions well....

Persistent link: https://www.econbiz.de/10008468616

Measurement Issues, the Productivity Slowdown and the Explosion of Computer Power

Baily, Martin; Gordon, Robert J - C.E.P.R. Discussion Papers - 1989

One of the starkest differences between the recent economic performance of the US and of Europe, in addition to faster job creation in the US, is its slower productivity growth. This paper begins with data showing that US productivity growth has been essentially zero since 1973 outside of...

Persistent link: https://www.econbiz.de/10005281397

Peer Effects in European Primary Schools: Evidence from PIRLS

Ammermüller, Andreas; Pischke, Jörn-Steffen - C.E.P.R. Discussion Papers - 2006

the estimate is much reduced within schools. This could be explained either by selection into schools or by measurement … error in the peer background variable. When we correct for measurement error we find within school estimates close to the … original OLS estimates. Our results suggest that the peer effect is modestly large, measurement error is important in our …

Persistent link: https://www.econbiz.de/10005666654

Are there Economies of Scale in the Demand for Money by Firms? Some Panel Data Estimates

Bover, Olympia; Watson, Nadine - C.E.P.R. Discussion Papers - 2001

, efficiency wages, technological sophistication; second, a measurement error in sales, probably because cash holdings are end … estimates for Spain increase substantially jointly considering correlated fixed effects and measurement error. Additionally, our …

Persistent link: https://www.econbiz.de/10005666781

Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy

Coenen, Günter; Levin, Andrew; Wieland, Volker - C.E.P.R. Discussion Papers - 2003

substantial information content in an environment with high variability of output measurement errors, low variability of money …

Persistent link: https://www.econbiz.de/10005661786

Returns to Education: Evidence from UK Twins

Bonjour, Dorothe; Cherkas, Lynn; Haskel, Jonathan; … - C.E.P.R. Discussion Papers - 2002

reported by the other twin to control for schooling measurement error. Our estimates suggest a return to schooling for UK …

Persistent link: https://www.econbiz.de/10005662039