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Geroski, Paul A; Samiei, Hossein; Van Reenen, John - C.E.P.R. Discussion Papers - 1996

This paper examines the innovative history of a number of UK firms using two large databases, looking for evidence consistent with the view that firms who innovate typically do so persistently. The first sample contains 3,304 firms who registered at least one patent in the United States during...

Persistent link: https://www.econbiz.de/10005136678

Corporate Efficiency in Europe

Hanousek, Jan; Kocenda, Evzen; Shamshur, Anastasiya - C.E.P.R. Discussion Papers - 2015

Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, and (iii) high competition is less...

Persistent link: https://www.econbiz.de/10011213309

Noisy News in Business cycles

Forni, Mario; Gambetti, Luca; Lippi, Marco; Sala, Luca - C.E.P.R. Discussion Papers - 2013

can still be successfully employed to estimate the shock and the associated impulse response functions. Identification is … reached by means of dynamic rotations of the reduced form residuals. We use our identification approach to investigate the … role of the "noise" shock the component of the signal observed by agents which is unrelated to economic fundamentals as a …

Persistent link: https://www.econbiz.de/10011145478

Understanding Exchange Rate Volatility Without the Contrivance of Macroeconomics

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 1998

Exchange rate regimes differ primarily by the activity of the exchange rate, not observable macroeconomic ‘fundamentals’. Fixed exchange rates are typically stable and floating exchange rates are volatile, but macro phenomena are regime-independent. Fundamentals only seem to be relevant for...

Persistent link: https://www.econbiz.de/10005788957

Structural Vector Autoregressions

Kilian, Lutz - C.E.P.R. Discussion Papers - 2011

of this literature. It focuses on alternative approaches to the identification of structural shocks within the framework …

Persistent link: https://www.econbiz.de/10009201117

Asset Prices, News Shocks and the Current Account

Fratzscher, Marcel; Straub, Roland - C.E.P.R. Discussion Papers - 2010

We analyze the relationship between asset prices and current account positions estimating a Bayesian VAR for a broad set of 42 industrialized and emerging market countries. To derive model-based identifying restrictions, we model asset price shocks as news shocks about future productivity in a...

Persistent link: https://www.econbiz.de/10008680756

The Fiscal Theory of the Price Level - identification and testing for the UK in the 1970s

Fan, Jingwen; Minford, Patrick; Ou, Zhirong - C.E.P.R. Discussion Papers - 2013

the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an …

Persistent link: https://www.econbiz.de/10011083765

Multivariate Choice and Identification of Social Interactions

Cohen-Cole, Ethan; Liu, Xiaodong; Zenou, Yves - C.E.P.R. Discussion Papers - 2012

In this paper, we investigate the impact of peers on own outcomes where all agents embedded in a network choose more than one activity. We develop a simple network model that illustrates these issues. We differentiate between the ‘seemingly unrelated’ simultaneous equations model where...

Persistent link: https://www.econbiz.de/10011083770

The role of fiscal policy in Britain's Great Inflation

Fan, Jingwen; Minford, Patrick; Ou, Zhirong - C.E.P.R. Discussion Papers - 2014

the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an …

Persistent link: https://www.econbiz.de/10011083838

The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy

Jordà, Òscar; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2013

-contingent framework. We achieve identification of causal effects with new propensity-score based methods for time series data. Using this …

Persistent link: https://www.econbiz.de/10011083942