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Seasonality in Smoking Behaviour : Re-Evaluating the Effects of the 2005 Public Smoking Ban in Italy
Bono, Emilia Del - 2013
This paper investigates the impact of the public smoking ban which came into effect in Italy on January 2005 on individual smoking behaviour. Current empirical evidence supports the existence of a negative effect of the Italian ban on smoking prevalence and consumption in the general population....
Persistent link: https://www.econbiz.de/10013073844
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Stock Market Returns and Consumption
Di Maggio, Marco - 2018
This paper employs Swedish data on households' stock holdings to investigate how consumption responds to changes in stock market returns. We instrument the actual capital gains and dividend payments with past portfolio weights. Unrealized capital gains lead to a marginal propensity to consume...
Persistent link: https://www.econbiz.de/10012925516
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When the Market Drives You Crazy : Stock Market Returns and Fatal Car Accidents
Giulietti, Corrado - 2018
The stock market influences some of the most fundamental economic decisions of investors, such as consumption, saving, and labor supply, through the financial wealth channel. This paper provides evidence that daily fluctuations in the stock market have important - and hitherto neglected -...
Persistent link: https://www.econbiz.de/10012912252
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Testing CAPM with a Large Number of Assets
Pesaran, M. Hashem - 2012
This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to Sharpe (1964) and Lintner (1965), when the number of securities, N, is large relative to the time dimension, T, of the return series. In the case of cross-sectionally correlated...
Persistent link: https://www.econbiz.de/10013107698
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Less Myth, More Measurement : Decomposing Excess Returns from the 1989 Minimum Wage Hike
Lin, Carl - 2012
In the book Myth and Measurement, Card and Krueger (1995) examine the economic impact of the 1989 minimum wage hike on the welfare of 110 firms which employ a disproportionate number of minimum-wage workers. Their results show mixed evidence that excess returns associated with news about the...
Persistent link: https://www.econbiz.de/10013112058
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Returns to Childbirth Technologies : Evidence from Preterm Births
Daysal, N. Meltem - 2014
We investigate the impact of obstetrician supervision, as opposed to midwife supervision, on the short-term health of low-risk newborns. We exploit a unique policy rule in the Netherlands that creates a large discontinuity in the probability of a low-risk birth being attended by an obstetrician...
Persistent link: https://www.econbiz.de/10013061603
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Growth, Volatility and Political Instability : Non-Linear Time-Series Evidence for Argentina, 1896-2000
Campos, Nauro F. - 2009
What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … and legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the …
Persistent link: https://www.econbiz.de/10012766848
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Public Wages, Public Employment, and Business Cycle Volatility : Evidence from U.S. Metro Areas
A. Reicher, Claire - 2016
business cycle volatility, hinting at a stabilizing effect of public employment, while public wages correlate weakly and … positively with business cycle volatility, hinting at a destabilizing effect of public wages. To explain these relationships, we …
Persistent link: https://www.econbiz.de/10012989839
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Volatility and Growth : Governments are Key
Jetter, Michael - 2013
paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …
Persistent link: https://www.econbiz.de/10013071293
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Modelling Heterogeneity and Dynamics in the Volatility of Individual Wages
Hospido, Laura - 2010
proposed. The expression for a modified likelihood function is obtained for estimation and inference in a fixed-T context …. Using a bias-corrected likelihood approach makes it possible to reduce the estimation bias to a term of order 1/Tﾲ. The …
Persistent link: https://www.econbiz.de/10013148328