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Interest rate hysteresis in macroeconomic investment under uncertainty
Belke, Ansgar; Göcke, Matthias - 2019
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...
Persistent link: https://www.econbiz.de/10012099522
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559
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Following Germany's lead : using international monetary linkages to identify the effect of monetary policy on the economy
Di Giovanni, Julian (contributor);  … - 2005
Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European...
Persistent link: https://www.econbiz.de/10002630639
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How should peer-review panels behave?
Sgroi, Daniel; Oswald, Andrew J. - 2012
Many governments wish to assess the quality of their universities. A prominent example is the UK's new Research Excellence Framework (REF) 2014. In the REF, peer-review panels will be provided with information on publications and citations. This paper suggests a way in which panels could choose...
Persistent link: https://www.econbiz.de/10009672292
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Delegation to a group
Fehrler, Sebastian; Janas, Moritz - 2021
We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … aggregation. On the one hand, the expected benefit from being informed is larger in case the experts are consulted individually …. Hence, the experts either acquire the same or a larger amount of information, depending on the cost of information, than in …
Persistent link: https://www.econbiz.de/10012549435
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Counterfactual analysis in macroeconometrics : an empirical investigation into the effects of quantitative easing
Pesaran, M. Hashem; Smith, Ron - 2012
This paper is concerned with ex ante and ex post counterfactual analyses in the case of macroeconometric applications where a single unit is observed before and after a given policy intervention. It distinguishes between cases where the policy change affects the model's parameters and where it...
Persistent link: https://www.econbiz.de/10009548055
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Don't give up on me baby : spousal correlation in smoking behaviour
Clark, Andrew E. (contributor); Etilé, Fabrice (contributor) - 2005
We use nine waves of BHPS data to examine interactions between spouses in terms of a behaviour with important health repercussions: cigarette smoking. Correlation between partners' behaviours may be due to correlated effects, as a consequence of matching or information revealed by others'...
Persistent link: https://www.econbiz.de/10003039640
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Employer learning and schooling-related statistical discrimination in Britain
Galindo-Rueda, Fernando (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001760435
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Job market signaling and employer learning
Alós-Ferrer, Carlos (contributor); Prat, Julien (contributor) - 2008
This paper extends the job market signaling model of Spence (1973) by allowing firms to learn the ability of their employees over time. Contrary to the model without employer learning, we find that the Intuitive Criterion does not always select a unique separating equilibrium. When the Intuitive...
Persistent link: https://www.econbiz.de/10003652697
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The speed of employer learning and job market signaling revisited
Habermalz, Steffen (contributor) - 2006
This paper discusses the claim made in Altonji and Pierret (1997) and Lange (2005) that a high speed of employer learning indicates a low value of job market signaling. The claim is first discussed intuitively in light of Spence’s original model and then evaluated in a simple extension of a...
Persistent link: https://www.econbiz.de/10003469479