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Exchange rate parities and taylor rule deviations

Anderl, Christina; Caporale, Guglielmo Maria - 2021

This paper investigates the PPP and UIP conditions by taking into account possible nonlinearities as well as the role of Taylor rule deviations under alternative monetary policy frameworks. The analysis is conducted using monthly data from January 1993 to December 2020 for five...

Persistent link: https://www.econbiz.de/10012491545

The relationship between prices and output in the UK and the US

Caporale, Guglielmo Maria; Claudio-Quiroga, Gloria; … - 2021

This paper analyses the relationship between CPI and real GDP in both the US and the UK using fractional integration and long-range dependence techniques. All series appear to be highly trended and to exhibit high degrees of integration and persistence, especially in the case of CPI. Since the...

Persistent link: https://www.econbiz.de/10012494781

Profit effects of consumers' identity management : a dynamic model

Laussel, Didier; Long, Ngo Van; Resende, Joana - 2021

We consider a non-durable good monopoly that collects data on its customers in order to profile them and subsequently practice price discrimination on returning customers. The monopolist’s price discrimination scheme is leaky, in the sense that an endogenous fraction of consumers choose to...

Persistent link: https://www.econbiz.de/10012612976

Asymmetric information and differentiated durable goods monopoly : intra-period versus intertemporal price discrimination

Laussel, Didier; Long, Ngo Van; Resende, Joana - 2021

A durable good monopolist faces a continuum of heterogeneous customers who make purchase decisions by comparing present and expected price-quality offers. The monopolist designs a sequence of price-quality menus to segment the market. We consider the Markov Perfect Equilibrium (MPE) of a game...

Persistent link: https://www.econbiz.de/10012619439

Immigrants as future voters

Hillman, Arye L.; Long, Ngo Van - 2021

Immigration policies in western democracies have often been contrary to the policies predicted by the mainstream theory … of international economics. In particular, political parties that, according to economic theory, should adopt policies …. We identify a political principal-agent problem based on ego-rents from political office. Our theory predicts voter …

Persistent link: https://www.econbiz.de/10012603038

Age and health related inheritance taxation

Leroux, Marie-Louise; Pestieau, Pierre - 2021

This paper studies the design of an optimal non linear inheritance taxation when individuals differ in wage as well as in their risks of both mortality and old-age dependance. We assume that the government cannot distinguish between bequests motives, that is whether bequests result from...

Persistent link: https://www.econbiz.de/10012499657

Nonlinearities in the exchange rate pass-through : the role of inflation expectations

Anderl, Christina; Caporale, Guglielmo Maria - 2022

This paper investigates nonlinearities in the exchange rate pass-through (ERPT) to consumer and import prices by estimating a smooth transition regression model with different inflation expectations regimes for five inflation targeting countries (the UK, Canada, Australia, New Zealand and...

Persistent link: https://www.econbiz.de/10012806637

Persistence and long memory in monetary policy spreads

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

The overnight money market rate is a key monetary policy tool. In recent years, central banks worldwide have developed new monetary policy strategies aimed at keeping its deviations from the policy rate small and short-lived. This paper describes the main instruments used for this purpose by the...

Persistent link: https://www.econbiz.de/10012308499

Nature versus nurture in social mobility under private and public education systems

Fan, Chengze Simon; Pang, Yu; Pestieau, Pierre - 2020

This paper analyzes the roles of innate talent versus family background in shaping intergenerational mobility and social welfare under different education systems. We establish an overlapping-generations model in which the allocation of workforce between a high-paying skilled labor sector and a...

Persistent link: https://www.econbiz.de/10012258519

Fair long-term care insurance

Leroux, Marie-Louise; Pestieau, Pierre; Ponthière, Grégory - 2019

The study of optimal long-term care (LTC) social insurance is generally carried out under the utilitarian social criterion, which penalizes individuals who have a lower capacity to convert resources into well-being, such as dependent elderly individuals or prematurely dead individuals. This...

Persistent link: https://www.econbiz.de/10012024401