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Political repression and child labor : theory and empirical evidence
Maffei, Sandro; Raabe, Nikolai; Ursprung, Heinrich W. - 2004
more lenient and child labor thus more prevalent than in countries enjoying political freedom. We test this implication and …
Persistent link: https://www.econbiz.de/10010261268
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Coups, Regime Transition, and the Dynamics of Press Freedom
Bjørnskov, Christian - 2018
This paper explores the dynamics of press freedom around events that threaten or oust the incumbent regime of a country …. While democracies on average grant the press more freedom, our theoretical starting point is that democracies and … government. We estimate the dynamics of press freedom around both failed and successful coups and find that although press …
Persistent link: https://www.econbiz.de/10012908729
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Debt as Safe Asset
Brunnermeier, Markus K.; Merkel, Sebastian; Sannikov, Yuliy - 2022
The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete markets setting. This lowers the issuers’ interest burden and allows the government to run a...
Persistent link: https://www.econbiz.de/10013308246
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Time-Varying Parameters in Monetary Policy Rules : A GMM Approach
Anderl, Christina; Caporale, Guglielmo Maria - 2023
This paper assesses time variation in monetary policy rules by applying a Time-Varying Parameter Generalised Methods of Moments (TVP-GMM) framework. Using monthly data until December 2022 for five inflation targeting countries (the UK, Canada, Australia, New Zealand, Sweden) and five countries...
Persistent link: https://www.econbiz.de/10014348141
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Corporate Taxes and Multi-Product Exporters : Theory and Evidence from Trade Dynamics
Flach, Lisandra - 2019
This paper analyzes how exporters are affected by corporate tax reforms in destination markets. We introduce tax policy in a trade model of multi-product firms and show that producers face tougher competition in export markets with lower corporate tax rates. This competitive effect induces firms...
Persistent link: https://www.econbiz.de/10012861462
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Gravity Without Apology : The Science of Elasticities, Distance, and Trade
Carrère, Céline - 2020
Gravity as both fact and theory is one of the great success stories of recent research on international trade, and has … general-equilibrium system. Next, we point out some anomalies with the theory: mounting evidence against constant trade …
Persistent link: https://www.econbiz.de/10012839359
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Real-Time Forecasting Using Mixed-Frequency Vars with Time-Varying Parameters
Heinrich, Markus - 2020
This paper provides a detailed assessment of the real-time forecast accuracy of a wide range of vector autoregressive models (VAR) that allow for both structural change and indicators sampled at different frequencies. We extend the literature by evaluating a mixed-frequency time-varying...
Persistent link: https://www.econbiz.de/10012842676
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Fiscal Consolidation and Automatic Stabilization : New Results
Dolls, Mathias - 2020
We analyze how the combined effect of automatic stabilizers and discretionary changes in tax-benefit systems have affected the cushioning of income shocks in the Euro zone and the EU-27 in the period 2007–2014. We propose a new summary measure of the combined effect of automatic stabilizers...
Persistent link: https://www.econbiz.de/10012843440
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Measuring Monetary Policy with Residual Sign Restrictions at Known Shock Dates
Badinger, Harald - 2020
We propose a novel identification strategy to measure monetary policy in a structural VAR. It is based exclusively on known past policy shocks, which are uncovered from high-frequency data, and does not rely on any theoretical a-priori restrictions. Our empirical analysis for the euro area...
Persistent link: https://www.econbiz.de/10012822501
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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