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Staggered difference-in-differences in gravity settings : revisiting the effects of trade agreements

Nagengast, Arne J.; Yotov, Yoto - 2023

We nest an extended two-way fixed effect (ETWFE) estimator for staggered difference-in-differences within the structural gravity model. To test the ETWFE, we estimate the effects of regional trade agreements (RTAs). The results suggest that RTA estimates in the current gravity literature may be...

Persistent link: https://www.econbiz.de/10014435475

Credit risk connectivity in the financial industry and stabilization effects of government bailouts

Bosma, Jakob; Koetter, Michael; Wedow, Michael - 2012

We identify the connections between financial institutions from different sectors of the financial industry based on joint extreme movements in credit default swap (CDS) spreads. First, we estimate pairwise co-crash probabilities (CCP) to identify significant connections among 193 international...

Persistent link: https://www.econbiz.de/10009566462

Zipf's law for cities : a cross country investigation

Soo, Kwok Tong (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002122641

On the Size Distribution of Macroeconomic Disasters

Barro, Robert J. - 2009

In the rare-disasters setting, a key determinant of the equity premium is the size distribution of macroeconomic disasters, gauged by proportionate declines in per capita consumption or GDP. The long-term national-accounts data for up to 36 countries provide a large sample of disaster events of...

Persistent link: https://www.econbiz.de/10012463402

Searching for Prosperity

Kremer, Michael - 2001

Quah's [1993a] transition matrix analysis of world income distribution based on annual data suggests an ergodic distribution with twin peaks at the rich and poor end of the distribution. Since the ergodic distribution is a highly non-linear function of the underlying transition matrix estimated...

Persistent link: https://www.econbiz.de/10012470474

Bubble Investing : Learning from History

Goetzmann, William N. - 2015

History is important to the study of financial bubbles precisely because they are extremely rare events, but history can be misleading. The rarity of bubbles in the historical record makes the sample size for inference small. Restricting attention to crashes that followed a large increase in...

Persistent link: https://www.econbiz.de/10012456977

Asset Pricing in the Frequency Domain : Theory and Empirics

Dew-Becker, Ian - 2013

In affine asset pricing models, the innovation to the pricing kernel is a function of innovations to current and expected future values of an economic state variable, for example consumption growth, aggregate market returns, or short-term interest rates. The impulse response of this priced...

Persistent link: https://www.econbiz.de/10012459245

Mismatch and Assimilation

Wang, Ping - 2018

Income disparity across countries has been large and widening over time. We develop a tractable model where factor requirements in production technology do not necessarily match a country's factor input profile. Appropriate assimilation of frontier technologies balances such multi-dimensional...

Persistent link: https://www.econbiz.de/10012480613

Are International R&D Spillovers Trade-Related? Analyzing Spillovers Among Randomly Matched Trade Partners

Keller, Wolfgang - 1997

In this paper, I analyze recent findings by Coe and Helpman (1995) on trade-related international R&D spillovers. A Monte Carlo based robustness test is proposed which compares the elasticity of domestic productivity with respect to foreign R&D estimated by Coe and Helpman with an elasticity...

Persistent link: https://www.econbiz.de/10012472749

Meritocracy across Countries

Bandiera, Oriana; Kotia, Ananya; Lindenlaub, Ilse; … - National Bureau of Economic Research - 2024

Are labor markets in higher-income countries more meritocratic, in the sense that worker-job matching is based on … the role of worker-job matching in development accounting, we build an equilibrium matching model that allows for cross … determine match feasibility; (ii) technology, which determines the returns to matching; and (iii) idiosyncratic matching …

Persistent link: https://www.econbiz.de/10014528414