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Long-run Determinants of Sovereign Yields

Afonso, António; Rault, Christophe - CESifo - 2010

We study sovereign bond yields in OECD countries with a dynamic panel by checking for cross-section dependence; assessing panel cointegration; and estimating panel error-correction models. The results show that markets consider budgetary and external imbalances and inflation as relevant...

Persistent link: https://www.econbiz.de/10008498994

Short and Long-run Behaviour of Long-term Sovereign Bond Yields

Afonso, António; Rault, Christophe - CESifo - 2010

determinants, we resort to simulation and bootstrap methods for the analysis. Results based on the Common Correlated Effect …

Persistent link: https://www.econbiz.de/10008727299

The Importance of the Electoral Rule: Evidence from Italy

Bordignon, Massimo; Monticini, Andrea - CESifo - 2011

We employ bootstrap methods (Efron (1979)) to test the effect of an important electoral reform implemented in Italy …

Persistent link: https://www.econbiz.de/10008853865

Sectoral Trade Freeness and Agglomeration in the EU: An Empirical Test Strategy

Cafiso, Gianluca - CESifo - 2012

different bootstrap distributions. …

Persistent link: https://www.econbiz.de/10010877933

Optimal Investment Strategies under Demand and Tax Policy Uncertainty

Boehm, Hjalmar; Funke, Michael - CESifo - 2000

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

Persistent link: https://www.econbiz.de/10005765662

Optimal Income Taxation with a Risky Asset – The Triple Income Tax

Schindler, Dirk - CESifo - 2006

We show in a two-period world with endogenous savings and two assets, one of them exhibiting a stochastic return, that an interest-adjusted income tax is optimal. This tax leaves a riskless component of interest income tax free and taxes the excess return with a special tax rate. There is no...

Persistent link: https://www.econbiz.de/10005766078

On Corporate Tax Asymmetries and Neutrality

Panteghini, Paolo - CESifo - 2000

not only to income uncertainty but also to policy uncertainty. …

Persistent link: https://www.econbiz.de/10005766102

Does the Nominal Exchange Rate Regime Matter for Investment?

Böhm, Hjalmar; Funke, Michael - CESifo - 2001

This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate …

Persistent link: https://www.econbiz.de/10005766171

Exchange Rate Uncertainty and Labour Market Adjustment under Fixed and Flexible Exchange Rates

Chen, Yu-Fu; Funke, Michael - CESifo - 2002

The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we follow the real options approach, which allows us to investigate the...

Persistent link: https://www.econbiz.de/10005766184

A Stochastic Multiple Players Multi-Issues Bargaining Model for the Piave River Basin

Sgobbi, Alessandra; Carraro, Carlo - CESifo - 2007

). Exogenous uncertainty over the size of the negotiated amount of water is introduced to capture the fact that water availability …

Persistent link: https://www.econbiz.de/10005249457