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Sales and Markup Dispersion : Theory and Empirics

Mrazova, Monika - 2019

We derive exact conditions relating the distributions of firm productivity, sales, output, and markups to the form of demand in monopolistic competition. Applications include a new “CREMR” demand function (Constant Revenue Elasticity of Marginal Revenue): it is necessary and sufficient for...

Persistent link: https://www.econbiz.de/10012892151

Forensics, Elasticities and Benford's Law

Demir, Banu - 2019

Estimates of the trade elasticity based on actual trade policy changes are scarce, and the few that exist are all over the place. This paper offers a setting where an exogenous increase in a border tax can be used to estimate the trade elasticity. It shows theoretically and empirically that if...

Persistent link: https://www.econbiz.de/10012892309

The Distribution of Ambiguity Attitudes

Gaudecker, Hans-Martin von; Wogrolly, Axel; Zimpelmann, … - 2022

This paper analyzes the stability and distribution of ambiguity attitudes using a broad population sample. Using high-powered incentives, we collected six waves of data on ambiguity attitudes about financial markets—our main application—and climate change. Estimating a structural stochastic...

Persistent link: https://www.econbiz.de/10014241994

Exchange Rate Elasticities of International Tourism and the Role of Dominant Currency Pricing

Ding, Ding; Timmer, Yannick - 2022

We estimate exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange … rate, the exchange rate between the tourism origin country vis-à-vis the U.S. dollar is an important driver of tourism … flows, indicating a strong role of U.S. dollar pricing. The U.S. dollar exchange rate is more important for tourism …

Persistent link: https://www.econbiz.de/10014083483

Dynamics and Endogeneity of Firms' Recruitment Behaviour

Ehrenfried, Felix - 2019

Models of random search, directed search, or stock-ow matching differ substantially in the way they assume that job seekers and firms behave during the recruitment process. In this paper we identify new patterns about the recruitment behaviour of firms using the entropy balancing technique and...

Persistent link: https://www.econbiz.de/10012892289

Modelling volatilities and conditional correlations in futures markets with a multivariate t distribution

Pesaran, Bahram; Pesaran, Mohammad Hashem - 2007

This paper considers a multivariate t version of the Gaussian dynamic conditional correlation (DCC) model proposed by …

Persistent link: https://www.econbiz.de/10010276212

The Geographic Spread of COVID-19 Correlates with Structure of Social Networks as Measured by Facebook

Kuchler, Theresa - 2020

We use anonymized and aggregated data from Facebook to show that areas with stronger social ties to two early COVID-19 "hotspots" (Westchester County, NY, in the U.S. and Lodi province in Italy) generally have more confirmed COVID-19 cases as of March 30, 2020. These relationships hold after...

Persistent link: https://www.econbiz.de/10012835656

Harding, Matthew - 2018

This paper proposes a quantile regression estimator for a heterogeneous panel model with lagged dependent variables and interactive effects. The paper adopts the Common Correlated Effects (CCE) approach proposed by Pesaran (2006) and Chudik and Pesaran (2015) and demonstrates that the extension...

Persistent link: https://www.econbiz.de/10012908711

Are Characteristics Covariances or Characteristics?

Hornuf, Lars - 2020

In this article, we shed more light on the covariances versus characteristics debate by investigating the explanatory power of the instrumented principal component analysis (IPCA), recently proposed by Kelly et al. (2019). They conclude that characteristics are covariances because there is no...

Persistent link: https://www.econbiz.de/10012830352

Determinants of Stock Market Correlation. Accounting for Model Uncertainty and Reverse Causality in a Large Panel Setting

Afonso, António; Beck, Krzysztof; Jackson, Karen - 2022

current correlation being the best single predictor of the future stock market correlation (2) positive impact of the market …

Persistent link: https://www.econbiz.de/10014237624

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