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The Effects of the COVID-19 Pandemic on Stock Markets, CDS and Economic Activity : Time-Varying Evidence from the US and Europe

Caporale, Guglielmo Maria; Catik, Abdurrahman Nazif; … - 2021

This paper examines the effects of the COVID-19 pandemic on stock returns, CDS and economic activity in the US and the five European countries (the UK, Germany, France, Italy, and Spain) which have been most affected. The sample period covers the dates from the first confirmed COVID-19 cases in...

Persistent link: https://www.econbiz.de/10013211119

The Fiscal Effect of Immigration : Reducing Bias in Influential Estimates

Clemens, Michael A. - 2021

Immigration policy can have important net fiscal effects that vary by immigrants’ skill level. But mainstream methods to estimate these effects are problematic. Methods based on cash-flow accounting offer precision at the cost of bias; methods based on general equilibrium modeling address bias...

Persistent link: https://www.econbiz.de/10013311709

Price Effects of the Austrian Fuel Price Fixing Act : A Synthetic Control Study

Becker, Maike; Pfeifer, Gregor; Schweikert, Karsten - 2021

price regulations. Consumers demand stricter fuel price regulations to provide transparency about the current price level … and to protect them from sudden price fluctuations. Such regulations are already in place in several countries, but … whether they indeed help lower the overall fuel price level is unclear. In this paper, we study the effect of Austria’s Fuel …

Persistent link: https://www.econbiz.de/10013250741

Pharmaceutical Prices : The Impact of the Launch Strategy - An Analysis of German Data

Böhler, Yvonne-Beatrice - 2019

This paper reports the results from a statistical analysis of pharmaceutical price negotiations in Germany, where the …' launch strategy (freely chosen first year price) still has a major impact on pricing while the impact of the additional …

Persistent link: https://www.econbiz.de/10012860771

Heterogeneity in the Pass-Through from Oil to Gasoline Prices : A New Instrument for Estimating the Price Elasticity of Gasoline Demand

Kilian, Lutz; Zhou, Xiaoqing - 2023

We propose a new instrument for estimating the price elasticity of gasoline demand that exploits systematic differences … across U.S. states in the pass-through of oil price shocks to retail gasoline prices. We show that these differences are … transportation infrastructure, refinery technology, and environmental regulations, creating cross-sectional gasoline price shocks in …

Persistent link: https://www.econbiz.de/10014358334

Distressed Acquisitions : Evidence from European Emerging Markets

Iwasaki, Ichiro; Kočenda, Evžen; Shida, Yoshisada - 2021

We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007–2019. Besides the impact of financial ratios, legal form, ownership structure, firm size, and age, we emphasize the role of institutions and channels of their propagation. We show that the quality...

Persistent link: https://www.econbiz.de/10013231968

Partisan Fiscal Policy : Evidence from Central and Eastern Europe

Schneider, Ondrej - 2020

This paper examines effects of political ideology of a governing party on fiscal outcomes, using data from eight Central and Eastern European countries in the 2001-2017 period. The analysis shows that there is a statistically significant effect of conservative governments on fiscal variables,...

Persistent link: https://www.econbiz.de/10012844215

A Counterfactual Economic Analysis of COVID-19 Using a Threshold Augmented Multi-Country Model

Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2021

This paper develops a threshold-augmented dynamic multi-country model (TG-VAR) to quantify the macroeconomic effects of the Covid-19 pandemic. We show that there exist threshold effects in the relationship between output growth and excess global volatility at individual country levels in a...

Persistent link: https://www.econbiz.de/10013223666

Labor Market Effects of a Minimum Wage : Evidence from Ecuadorian Monthly Administrative Data

Choi, Jaerim; Rivadeneyra, Ivan; Ramirez, Kenia - 2021

When Ecuador raised its monthly Unified Minimum Wage from $170 to $200 in 2008, it affected 35 percent of all private sector workers. We use this unexpected minimum wage hike under former president Rafael Correa to assess the labor market impacts of the minimum wage. We use an administrative...

Persistent link: https://www.econbiz.de/10013235105

Estimating General Equilibrium Spillovers of Large-Scale Shocks

Huber, Kilian - 2021

functional forms can overcome different sources of bias. The analysis is particularly relevant to the estimation of spillovers …

Persistent link: https://www.econbiz.de/10013237223

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