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Persistence in the market risk premium : evidence across countries

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2020

This paper provides evidence on the degree of persistence of one of the key components of the CAPM, namely the market risk premium, as well as its volatility. The analysis applies fractional integration methods to data for the US, Germany and Japan, and for robustness purposes considers...

Persistent link: https://www.econbiz.de/10012199998

Agency and communication in IMF conditional lending : theory and empirical evidence

Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009

the countries’ authorities, openness, and transparency, consistently with the theory. -- IMF conditionality ; delegation …

Persistent link: https://www.econbiz.de/10003813630

Information transmission and ownership consolidation in aid programs

Dreher, Axel; Marchesi, Silvia - 2013

example of a "delegation-scheme." Conversely, project aid represents a more "centralized" type of aid. According to the theory …

Persistent link: https://www.econbiz.de/10010199746

Information transmission within federal fiscal architectures : theory and evidence

Gehring, Kai; Kotsogiannēs, Chrēstos; Marchesi, Silvia - 2013

This paper explores the role of information transmission and misaligned interests across levels of government in explaining variation in the degree of decentralization across countries. Within a two-sided incomplete information principal-agent framework, it analyzes two alternative...

Persistent link: https://www.econbiz.de/10010126407

Optimal tariffs, retaliation and the welfare loss from tariff wars in the Melitz model

Felbermayr, Gabriel; Jung, Benjamin; Larch, Mario - 2011

tariffs ; retaliation ; tariff wars ; heterogeneous firms ; World Trade Organization ; Nash equilibrium …

Persistent link: https://www.econbiz.de/10009130204

On the heterogeneous trade and welfare effects of GATT/WTO membership

Felbermayr, Gabriel; Larch, Mario; Yalçin, Erdal; … - 2020

We build on the latest developments in the structural gravity literature to quantify the partial and general equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980-2016, we find that the...

Persistent link: https://www.econbiz.de/10012287974

Measuring persistence of the world population : a fractional integration approach

Caporale, Guglielmo Maria; Infante, Juan; Rio, Marta del; … - 2023

world population over the period 1800-2016. The analysis is carried out for the original series, and also for its log …

Persistent link: https://www.econbiz.de/10013550205

Exploring the intensive and extensive margins of world trade : presented at Venice Summer Institute, Workshop on Dissecting Globalization, July 2004

Felbermayr, Gabriel; Kohler, Wilhelm - 2004

World trade evolves at two margins. Where a bilateral trading relationship already exists it may increase through time … have not traded with each other in the past (extensive margin). We provide an empirical dissection of post-World-War- II … growth in manufacturing world trade along these two margins. We propose a "cornersolutions- version"of the gravity model to …

Persistent link: https://www.econbiz.de/10011450770

What do we really know about the transatlantic current account?

Braml, Martin T.; Felbermayr, Gabriel - 2019

Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...

Persistent link: https://www.econbiz.de/10012065058

On the effects of sanctions on trade and welfare : new evidence based on structural gravity and a new database

Felbermayr, Gabriel; Syropoulos, Constantinos; Yalçin, … - 2019

Using a new, global data base covering the years 1950 to 2015, we study the impact of sanctions on international trade and welfare. We make use of the rich dimensionality of our data and of the latest developments in the structural gravity literature. Starting with a broad evaluation by sanction...

Persistent link: https://www.econbiz.de/10012031035