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Cointegration of matched home purchases and rental price indexes : evidence from Sinpagore

Baltagi, Badi H.; Li, Jing - 2015

This paper exploits the homogeneity feature of the Singapore private residential condominium market and constructs matched home purchase price and rental price series using the repeated sales method. These matched series allow us to conduct time series analysis to examine the long-term present...

Persistent link: https://www.econbiz.de/10011350189

Is there a friday the 13th effect in emerging Asian stock markets?

Auer, Benjamin R.; Rottmann, Horst - 2013

In this article, we revisit the Friday the 13th effect discussed by Kolb and Rodriguez (1987) that has received increased interest in recent research. Using a dummy-augmented GARCH model, we investigate whether the occurrence of this superstitious calendar day has significant impact on the...

Persistent link: https://www.econbiz.de/10010189834

Estimation of conditional asset pricing models with integrated variables in the beta specification

Antypas, Antonios; Caporale, Guglielmo Maria; … - 2019

We introduce a methodology which deals with possibly integrated variables in the specification of the betas of conditional asset pricing models. In such a case, any model which is directly derived by a polynomial approximation of the functional form of the conditional beta will inherit a...

Persistent link: https://www.econbiz.de/10012138849

Financing entrepreneurial firms in Europe : facts, issues, and research agenda

Bottazzi, Laura; Da Rin, Marco - 2003

During the latter part of the 1990s the introduction of the euro, the dramatic increase in the supply of venture capital in most EU countries, and the creation of several new equity markets targeted at innovative firms have dramatically transformed the financing prospects of European...

Persistent link: https://www.econbiz.de/10011507965

Investment shocks, tax evasion and the consumption puzzle : a DSGE analysis with financial frictions

Chiarini, Bruno; Ferrara, Maria; Marzano, Elisabetta - 2016

This paper contributes to the GDP-consumption comovement puzzle literature investigating the role of tax evasion in explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New Keynesian DSGE model combining tax evasion with...

Persistent link: https://www.econbiz.de/10011515322

Should Faustmann forecast climate change?

Gars, Johan; Spiro, Daniel - 2019

Climate change is predicted to substantially alter forest growth. Optimally, forest owners should take these future changes into account when making rotation decisions today. However, the fundamental uncertainty surrounding climate change makes predicting these shifts hard. Hence, this paper...

Persistent link: https://www.econbiz.de/10012015877

Improving incentives in unemployment insurance : a review of recent research

Fredriksson, Peter; Holmlund, Bertil - 2003

sequencing of benefits), monitoring in conjunction with sanctions, and workfare. Our reading of the theoretical literature is …

Persistent link: https://www.econbiz.de/10011507749

Petroleum taxation and investment behaviour

Osmundsen, Petter; Emhjellen, Magne; Johnsen, Thore; … - 2014

Petroleum administration can be regarded as a principal-agent problem. The government allocates exploration and production rights to petroleum companies on behalf of the population. The government is the principal and the companies are agents. With the aim of capturing revenue for the state, the...

Persistent link: https://www.econbiz.de/10010426021

Black sheep or scapegoats? : implementable monitoring policies under unobservable levels of misbehavior

Buechel, Berno; Mühlheußer, Gerd - 2014

An authority delegates a monitoring task to an agent. It can only observe the number of detected offenders, but neither … the monitoring intensity chosen by the agent nor the resulting level of misbehavior. We provide a necessary and sufficient … condition for the implementability of monitoring policies. Typically, several monitoring intensities give rise to the same …

Persistent link: https://www.econbiz.de/10010256706

Optimal redistribution and monitoring of labor effort

Zoutman, Floris T.; Jacobs, Bas - 2014

This paper extends the Mirrlees (1971) model of optimal non-linear income taxation with a monitoring technology that … the joint determination of the non-linear monitoring and tax schedules and the conditions under which these can be … implemented. Monitoring of labor effort reduces the distortions created by income taxation and raises optimal marginal tax rates …

Persistent link: https://www.econbiz.de/10010249672