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Long-term minimum return guarantees sold by European life insurers increasingly become binding as interest rates decline. While participating contracts embedding these guarantees are designed to share market risk across investor cohorts when guarantees are not binding, we study how binding...
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. This paper provides a critical review of recent econometric work on the determinants and impacts of training in Europe …
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instability of euro area money demand. Our results obtained from panel estimation indicate that the observed instability of … money demand but constant across member countries. -- Money demand ; cross-country analysis ; panel error correction model …
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We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth …. The empirical analysis is based on a large panel-data set including 124 countries during the period from 1950 to 2004. For … developing countries. -- Inflation Thresholds ; Inflation and Growth ; Dynamic Panel Threshold Model …
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German municipalities using a panel on municipalities in the two largest German states from 1999 to 2006. We find significant …
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