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Long Memory in the Ukrainian Stock Market and Financial Crises
Caporale, Guglielmo Maria - 2014
This paper examines persistence in the Ukrainian stock market during the recent financial crisis. Using two different long memory approaches (R/S analysis and fractional integration) we show that this market is inefficient and the degree of persistence is not the same in different stages of the...
Persistent link: https://www.econbiz.de/10013046301
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Satisfaction with Democracy and Collective Action Problems: The Case of the Environment
Halla, Martin; Schneider, Friedrich; Wagner, Alexander - 2008
satisfied with the way democracy works in their country if more environmental policies are in place and if environmental quality …
Persistent link: https://www.econbiz.de/10010294929
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What does it take to sell environmental policy? An empirical analysis of referendum data
Halbheer, Daniel; Niggli, Sarah; Schmutzler, Armin - 2005
We analyze the factors that influence the support for environmental policy proposals. Swiss referendum data show that proposals obtain more yes-votes if they do not restrict consumption possibilities directly, if they are endorsed by the largest business association, if environmental preferences...
Persistent link: https://www.econbiz.de/10010315545
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Tullock challenges: Happiness, revolutions and democracy
Frey, Bruno S. - 2011
Gordon Tullock has been one of the most important founders and contributors to Public Choice. Two innovations are typical Tullock Challenges. The first relates to method: the measurement of subjective well-being, or happiness. The second relates to digital social networks such as Facebook,...
Persistent link: https://www.econbiz.de/10010316889
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Institutions, taxation, and market relationships in ancient Athens
Lyttkens, Carl Hampus - 2008
democracy. Between 600 and 322 B.C., Athenian society underwent significant institutional change. Rule by a birth aristocracy …
Persistent link: https://www.econbiz.de/10013208528
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Globalization and Child Health in Developing Countries: The Role of Democracy
Welander, Anna; Lyttkens, Carl Hampus; Nilsson, Therese - 2014
variation across countries is the quality of democracy. Using panel data for 70 developing countries between 1970 and 2009 this … paper disentangles the relationship between globalization, democracy, and child health. Specifically the paper examines how … globalization and a country's democratic status and historical experience with democracy, respectively, affect infant mortality. In …
Persistent link: https://www.econbiz.de/10013208679
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Bowling for fascism: Social capital and the rise of the Nazi Party
Satyanath, Shanker; Voigtländer, Nico; Voth, Hans-Joachim - 2014
literature on its "dark side". We examine the role of social capital in the downfall of democracy in interwar Germany. We analyze … democracy. We also show that the effects of social capital were more important in the starting phase of the Nazi movement, and …
Persistent link: https://www.econbiz.de/10011282481
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God does not play dice, but people should: Random selection in politics, science and society
Frey, Bruno S.; Steiner, Lasse - 2014
This paper discusses and proposes random selection as a component in decision-making in society. Random procedures have played a significant role in history, especially in classical Greece and the medieval city-states of Italy. We examine the important positive features of decisions by random...
Persistent link: https://www.econbiz.de/10011282483
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Asset-pricing models and economic risk premia: A decomposition
Balduzzi, Pierluigi; Robotti, Cesare; Balduzzi, Pierluigi; … - 2005
The risk premia assigned to economic (nontraded) risk factors can be decomposed into three parts: (i) the risk premia on maximum-correlation portfolios mimicking the factors; (ii) (minus) the covariance between the nontraded components of the candidate pricing kernel of a given model and the...
Persistent link: https://www.econbiz.de/10010397680
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Leverage and beliefs: Personal experience and risk taking in margin lending
Koudijs, Peter; Voth, Hans-Joachim - 2014
What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndicate speculating in Amsterdam in 1772 went...
Persistent link: https://www.econbiz.de/10011282480