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estimation, using data with self-reported periods of hunger earlier in life, with famines as instruments. The data contain … estimation to deal with imperfect recollection of conditions at very early stages of life. The estimated average causal effects …
Persistent link: https://www.econbiz.de/10010321143
It has long been recognized that there is considerable heterogeneity in individual risk taking behavior but little is known about the distribution of risk taking types. We present a parsimonious characterization of risk taking behavior by estimating a finite mixture regression model for three...
Persistent link: https://www.econbiz.de/10014207351
This paper extends the empirical stock-flow consistent (SFC) literature through the introduction of distributional features and labor market institutions in a Godley-type empirical SFC model. In particular, labor market institutions, such as the minimum wage and the collective bargaining...
Persistent link: https://www.econbiz.de/10012610177
experienced poverty, loss of dignity, and humiliation and Greece was the country hit hardest. For Merkel, placing national …
Persistent link: https://www.econbiz.de/10014322574
of the accumulation of Greece's public debt since the 1960s and the role of public debt in the recent crisis. We show …
Persistent link: https://www.econbiz.de/10011784657
This paper analyzes the trajectories of the Greek public deficit and sovereign debt over the last three decades and their connection to the political and economic environment, paying special attention to the causality between the public and the foreign deficit. The authors argue that, from 1980...
Persistent link: https://www.econbiz.de/10010318673
relevant research question to be addressed. We illustrate our arguments with examples for Greece, Italy, and Ecuador. We also …
Persistent link: https://www.econbiz.de/10012142966
We assess the role of financial linkages for the transmission of sovereign risk in the Euro Crisis. Building on the narrative approach by Romer and Romer (1989), we use financial news to identify structural shocks in a VAR model of daily sovereign CDS for eleven European countries. To estimate...
Persistent link: https://www.econbiz.de/10011430097
Readily available information about the current term structure of interest rates, its level and recent trends in important countries has become a standard tool of monetary policy analysis. Interest rate curves can be used for inflation and output forecasts, they may give useful indications about...
Persistent link: https://www.econbiz.de/10013369954
scale of a DSGE model and that of the time series data used for its estimation generally creates identfication problems …, introduces estimation bias and distorts the results of policy analysis. On the constructive side, we prove that the use of mixed … frequency data, combined with a proper estimation approach, can alleviate the temporal aggregation bias, mitigate the …
Persistent link: https://www.econbiz.de/10012143827