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We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand...
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Many budget surveys present the interesting features that for a wide range of goods they contain quantity information along with expenditure information, and that the geographical location of households is fairly precise. We take advantage of these features to develop a method for estimation of...
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because the vulnerability to outflows is found to depend on asset liquidity and fund ownership. We construct a unique panel of … German corporate bond funds by merging data on asset liquidity with information on fund ownership. First, conditional on … meet redemptions is found to differ across ownership structures and depends on the degree of macroeconomic uncertainty: in …
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studies analyzing the relative capital-skill complementarity hypothesis formulated by GRILICHES (1969). According to this … hypothesis, the degree of substitutability between skilled labor and capital is lower than that for unskilled labor and capital …
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