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International Evidence on Sticky Consumption Growth

Carroll, Christopher D. - 2008

We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...

Persistent link: https://www.econbiz.de/10012770257

Modelling and Forecasting Liquidity Supply Using Semiparametric Factor Dynamics

Hautsch, Nikolaus - 2016

We model the dynamics of ask and bid curves in a limit order book market using a dynamic semiparametric factor model. The shape of the curves is captured by a factor structure which is estimated nonparametrically. Corresponding factor loadings are assumed to follow multivariate dynamics and are...

Persistent link: https://www.econbiz.de/10013009132

Why do contracts differ between VC types? Market segmentation versus corporate governance varieties

Hirsch, Julia; Walz, Uwe - 2006

entrepreneurial firms in the period 1990-2004. By employing various matching procedures, we show that VC types differ in both firm …

Persistent link: https://www.econbiz.de/10010298326

Instabile Finanzmärkte

Franke, Günter; Krahnen, Jan Pieter - 2009

Aufgabe darin besteht, glaubwürdige Information für Investoren bereitzustellen. Drei Determinanten der Instabilität werden …

Persistent link: https://www.econbiz.de/10010303746

Disclosure, transparency, and market discipline

Freixas, Xavier; Laux, Christian - 2011

The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis …. We consider two main sources of information to the market, financial statements and information provided by credit rating … agencies. We examine how these sources of information work and the effectiveness of their disclosure process during the crisis …

Persistent link: https://www.econbiz.de/10010308575

Evaluating how child allowances and daycare subsidies affect fertility

Goldstein, Joshua R.; Koulovatianos, Christos; Li, Jian; … - 2017 - This version: January 31, 2017

We compare the cost effectiveness of two pronatalist policies: (a) child allowances; and (b) daycare subsidies. We pay special attention to estimating how intended fertility (fertility before children are born) responds to these policies. We use two evaluation tools: (i) a dynamic model on...

Persistent link: https://www.econbiz.de/10011603561

Contractual relations between European VC-funds and investors: The impact of reputation and bargaining power on contractual design

Schmidt, Daniel; Wahrenburg, Mark - 2003

The paper explores factors that influence the design of financing contracts between venture capital investors and European venture capital funds. 122 Private Placement Memoranda and 46 Partnership Agreements are investigated in respect to the use of covenant restrictions and compensation...

Persistent link: https://www.econbiz.de/10010298250

Are IPOs of different VCs different?

Tykvová, Tereza; Walz, Uwe - 2004

This paper aims to analyze the impact of different types of venture capitalists on the performance of their portfolio firms around and after the IPO. We thereby investigate the hypothesis that different governance structures, objectives and track record of different types of VCs have a...

Persistent link: https://www.econbiz.de/10010298255

The determinants of debt and (private-) equity financing in young innovative SMEs: Evidence from Germany

Schäfer, Dorothea; Werwatz, Axel; Zimmermann, Volker - 2004

Financial theory creates a puzzle. Some authors argue that high-risk entrepreneurs choose debt contracts instead of equity contracts since risky but high returns are of relatively more value for a loan-financed firm. On the contrary, authors who focus explicitly on start-up finance predict that...

Persistent link: https://www.econbiz.de/10010298280

Optimal monetary policy under commitment with a zero bound on nominal interest rates

Adam, Klaus; Billi, Roberto M. - 2004

We determine optimal monetary policy under commitment in a forwardlooking New Keynesian model when nominal interest rates are bounded below by zero. The lower bound represents an occasionally binding constraint that causes the model and optimal policy to be nonlinear. A calibration to the U.S....

Persistent link: https://www.econbiz.de/10010298285