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Infinite dimensional VARs and factor models

Chudik, Alexander; Pesaran, Mohammad Hashem - 2007

documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate …

Persistent link: https://www.econbiz.de/10010276258

Potential, prizes and performance : testing tournament theory with professional tennis data

Sunde, Uwe - 2003

This paper tests two hypotheses from the theory of elimination tournaments: (i) that uneven tournaments, where the … contestants are ex ante heterogeneous, entail lower effort exertion; this is a prediction from agency theory that has not been … underlies any agency theory about elimination tournaments, and has been empirically tested in other contexts. The evidence …

Persistent link: https://www.econbiz.de/10010261647

Life expectancy and economic growth: the role of the demographic transition

Cervellati, Matteo; Sunde, Uwe - 2009

the role of the econometric specification. We present a simple theory of the economic and demographic transition where … individuals' education and fertility decisions depend on their life expectancy. The theory predicts that before the demographic …

Persistent link: https://www.econbiz.de/10010269079

Predictability of asset returns and the efficient market hypothesis

Pesaran, Mohammad Hashem - 2010

This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...

Persistent link: https://www.econbiz.de/10010276268

Unobserved Bilateral Search on the Labor Market: A Theory-Based Correction for a Common Flaw in Empirical Matching Studies

Sunde, Uwe - 2002

This paper develops a model of equilibrium unemployment with (unobservable) endogenous on-the-job search and (partly unobservable) endogenous search behavior by firms. The model allows to analyze crowding-out of unemployed job seekers by endogenous on-the job search of employees, and the...

Persistent link: https://www.econbiz.de/10010262710

Cross-sectional earnings risk and occupational sorting: the role of risk attitudes

Bonin, Holger; Dohmen, Thomas; Falk, Armin; Huffman, David - 2006

This paper investigates whether risk preferences explain how individuals are sorted into occupations with different earnings variability. We exploit data from the German Socio-Economic Panel, which contains a subjective assessment of willingness to take risks whose behavioral relevance has been...

Persistent link: https://www.econbiz.de/10010267608

Aggregation in large dynamic panels

Pesaran, Mohammad Hashem; Chudik, Alexander - 2011

concludes with an empirical application to consumer price inflation in Germany, France and Italy, and re-examines the extent to …

Persistent link: https://www.econbiz.de/10010285520

Are all democracies equally good? The role of interactions between political environment and inequality for rule of law

Sunde, Uwe; Cervellati, Matteo; Fortunato, Piergiuseppe - 2007

Using cross-country data, we find evidence for a significant negative interaction effect between democracy and inequality in determining the quality of growth-promoting institutions like rule of law. Democracy is associated with institutions of higher quality when inequality is lower.

Persistent link: https://www.econbiz.de/10010268341

Democratization and civil liberties: The role of violence during the transition

Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - 2011

emerging democracies, and in particular, the protection of civil (political and economic) liberties. A simple theory in which …

Persistent link: https://www.econbiz.de/10010274710

A Pair-Wise Approach to Testing for Output and Growth Convergence

Pesaran, Mohammad Hashem - 2004

to output series in the Penn World Tables over 1950-2000, as well as to Maddion?s historical series over 1870 …

Persistent link: https://www.econbiz.de/10010276183