Showing 1 - 10 of 93
This paper compares investor sentiment measures based on consumer confidence surveys with measures extracted from the closed-end fund discount (CEFD). Our evidence suggests that these two kinds of sentiment measures do not correlate well with one another. For a short 2 - 4 year period in which...
Persistent link: https://www.econbiz.de/10012467896
developing nation today. We construct a "corruption and fraud index" using word counts from a large number of newspapers for 1815 … to 1975, supplemented with other historical facts. The index reveals that America experienced a substantial decrease in … the "corruption and fraud index" is about five times its level from the end of the Progressive Era to the 1970s. If the …
Persistent link: https://www.econbiz.de/10012467915
We describe a new index of the current and historical returns to venture-type capital. The conceptual basis for the … index is the value of a continuously reinvested value-weighted portfolio of all venture-backed and similar pre …-public companies. It provides a metric for private equity comparable to the S&P 500 for public equity. We build the index from …
Persistent link: https://www.econbiz.de/10012468492
In this paper we derive the standard error of a price index when both prices and tastes or technology are treated as … stochastic. Changing tastes or technology are a reason for the weights in the price index to be treated as stochastic, which can … function (with Sato-Vartia price index), and also the translog function (with Törnqvist price index), which proves to be more …
Persistent link: https://www.econbiz.de/10012468497
widely used techniques: (a) index numbers, (b) data envelopment analysis, and three parametric methods, (c) instrumental …
Persistent link: https://www.econbiz.de/10012468629
The standard source for pre-WWII global freight rate trends is the Isserlis British tramp shipping index. We think it … transported. Previous scholars have deflated their nominal freight rate indices by a price index that includes tradables not …
Persistent link: https://www.econbiz.de/10012469171
In this paper, we investigate several key problems in Japanese economic statistics. We use CPI mismeasurements and biases as an example to explore the roots of the problems and also to offer guidelines for improvements. We emphasize 3 major shortcomings shared by many official statistics in...
Persistent link: https://www.econbiz.de/10012469267
Measuring the performance of private equity investments (buyout and venture) has historically only been possible over long horizons because the IRR on a fund is only observable following the fund's final distribution. We propose a new approach to evaluating performance using actual prices paid...
Persistent link: https://www.econbiz.de/10012480859
We assemble a new global database on motor vehicle travel speed in over 1,200 large cities in 152 countries. We then estimate comparable city-level indices of travel speed and congestion. Most of the variation in urban travel speed is across countries, not within. National income per capita...
Persistent link: https://www.econbiz.de/10014337874
Building on Baker, Bloom and Davis (2016), I construct a monthly index of Global Economic Policy Uncertainty (GEPU …) from January 1997. The GEPU Index is a GDP-weighted average of national EPU indices for 16 countries that account for two …-thirds of global output. Each national EPU index reflects the relative frequency of own-country newspaper articles that contain …
Persistent link: https://www.econbiz.de/10012455940