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Does monetary policy affect stock market uncertainty? : Empirical evidence from the United States

Jovanović, Mario - 2011

This paper investigates the response of US stock market uncertainty to monetary policy of the Federal Reserve Bank. It can be shown that monetary policy significantly Granger-causes stock market confidence. By using monthly closing prices of the V IX as a stock market uncertainty proxy and a...

Persistent link: https://www.econbiz.de/10008935254

Being focused : when the purpose of inference matters for model selection

Behl, Peter; Dette, Holger; Frondel, Manuel; Tauchmann, … - 2011

In contrast to conventional model selection criteria, the Focused Information Criterion (FIC) allows for purpose-specific choice of models. This accommodates the idea that one kind of model might be highly appropriate for inferences on a particular parameter, but not for another. Ever since its...

Persistent link: https://www.econbiz.de/10009579634

Immigration and status exchange in Australia and the United States

Choi, Kate H.; Tienda, Marta; Cobb-Clark, Deborah A.; … - 2011

The claim that marriage is a venue for status exchange of achieved traits, like education, and ascribed attributes, notably race and ethnic membership, has regained traction in the social stratifi cation literature. Most studies that consider status exchanges ignore birthplace as a social...

Persistent link: https://www.econbiz.de/10009579650

Gold as an inflation hedge in a time-varying coefficient framework

Beckmann, Joscha; Czudaj, Robert - 2012

. Using data for four major economies, namely the USA, the UK, the Euro Area, and Japan, we allow for nonlinearity and … USA and the UK compared to Japan and the Euro Area. In addition, the adjustment of the general price level is … bietet aus einem neuen Blickwinkel. Basierend auf Daten für die USA, Großbritannien, die Eurozone und Japan unterscheiden wir …

Persistent link: https://www.econbiz.de/10009580064

Empirical evidence on the generalized Taylor principle

Jovanović, Mario - 2012

During financial crises central banks usually decrease interest rates in order to reduce financial uncertainty. This behavior increases inflation risk. The trade-off between inflation and uncertainty stabilization can be modeled by the generalized Taylor rule, which describes inflation...

Persistent link: https://www.econbiz.de/10009580165

Household labor supply and Home services in a general-equilibrium model with heterogeneous agents

Bredemeier, Christian (contributor); … - 2009

We propose a new explanation for differences and changes in labor supply by gender and marital status, and in particular for the increase in married women's labor supply over time. We argue that this increase as well as the relative constancy of other groups' hours are optimal reactions to...

Persistent link: https://www.econbiz.de/10003811812

Men, women, and the ballot : woman suffrage in the United States

Braun, Sebastian; Kvasnicka, Michael - 2009

Woman suffrage led to the greatest enfranchisement in the history of the United States. Before World War I, however, suffrage states remained almost exclusively confined to the American West. The reasons for this pioneering role of the West are still unclear. Studying the timing of woman...

Persistent link: https://www.econbiz.de/10003824710

Capital taxation, long-run growth, and bequests

Kunze, Lars - 2009

It has been shown that higher capital taxes can have a growth-enhancing effect when combined with a revenue-compensating cut in wage taxes (Uhlig and Yanagawa 1996; European Economic Review 40, 1521-1540) or with an expansion in productivity-increasing public services (Rivas 2003; European Economic...

Persistent link: https://www.econbiz.de/10003850899

A simple model of an oil based global savings glut : the "China factor" and the OPEC cartel

Belke, Ansgar; Gros, Daniel - 2009

The purpose of this contribution is to illustrate the mechanism by which higher oil prices might lead to lower interest rates in the context of a simple model that takes into account the global external savings equilibrium. The simple model has interesting implications for how one views the huge...

Persistent link: https://www.econbiz.de/10003861478

Measuring residential energy efficiency improvements with DEA

Grösche, Peter (contributor) - 2008

This paper measures energy efficiency improvements of US single-family homes between 1997 and 2001 using a two-stage procedure. In the first stage, an indicator of energy efficiency is derived by means of Data Envelopment Analysis (DEA), and the analogy between the DEA estimator and traditional...

Persistent link: https://www.econbiz.de/10003740305