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The elasticity of substitution between domestic and imported goods is a central parameter in macroeconomic models, but after decades of empirical studies there is no consensus on its magnitude. Earlier literature using time series arrives at low values, while more recent studies using...
Persistent link: https://www.econbiz.de/10013100338
bias. In order to evaluate the regional bias hypothesis, we augment individual Taylor rules for the Federal Reserve Bank … rules reveal that the preferences of some Federal Reserve Bank Presidents were not free of a regional bias. Augmented Taylor …
Persistent link: https://www.econbiz.de/10013047995
This paper studies the causal effect of gender bias on access to bank credit. We extract an exogenous measure of gender … bias from survey responses by descendants of US immigrants on questions about the role of women in society. We then use … data on 6,000 small business firms from 17 countries and find that in countries with higher gender bias, female-owned firms …
Persistent link: https://www.econbiz.de/10013019627
compared with the Fisher Ideal index to quantify elementary index bias. Across product categories, mean levels of annual … elementary index bias vary between -0.53 percentage points and 0.55 percentage points depending on the index, while the standard … average effect of elementary index bias on national inflation ranges from -0.45 to 0.45 percentage points depending on the …
Persistent link: https://www.econbiz.de/10013040610
Using data from the ECB's Survey of Professional Forecasters, we investigate the reporting practices of survey participants by comparing their point predictions and the mean/median/mode of their probability forecasts. We find that the individual point predictions, on average, tend to be biased...
Persistent link: https://www.econbiz.de/10013316742
IFC as the debt bias would fall. However, when other considerations eclipse competence and give the incumbent a strong … electoral advantage or disadvantage, setting up an IFC may be counterproductive as the debt bias would increase. If the … bias if voters care sufficiently about policymakers' competence; (ii) not all political environments are conducive to the …
Persistent link: https://www.econbiz.de/10012949941
Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...
Persistent link: https://www.econbiz.de/10011605124
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10011605589
Innovative firms with good ideas may still struggle to fine-tune them to the stage where they can attract outside funding. We conduct a five-country randomized experiment that tests the impact of an investment readiness program. Firms then pitched their ideas to independent judges. The program...
Persistent link: https://www.econbiz.de/10012422053
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10013082537