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Forecasting exchange rates with a large Bayesian VAR

Carriero, Andrea; Kapetanios, George; Marcellino, … - 2008

Models based on economic theory have serious problems at forecasting exchange rates better than simple univariate driftless random walk models, especially at short horizons. Multivariate time series models suffer from the same problem. In this paper, we propose to forecast exchange rates with a...

Persistent link: https://www.econbiz.de/10010280768

Gambling for dollars: Strategic hedge fund manager investment

Bernhardt, Dan; Nosal, Ed - 2013

Hedge fund managers differ in ability and investors want to distinguish good ones from bad. Via the design of their investment strategies, better fund managers want to ease this inference problem while worse fund managers want to complicate it. We impose only the minimal restrictions on the...

Persistent link: https://www.econbiz.de/10010352178

A simultaneous equations analysis of analysts’ forecast bias and institutional ownership

Ackert, Lucy F.; Athanassakos, George - 2000

In this paper we use a simultaneous equations model to examine the relationship between analysts' forecasting decisions and institutions' investment decisions. Neglecting their interaction results in model misspecification. We find that analysts' optimism concerning a firm's earnings responds...

Persistent link: https://www.econbiz.de/10010397439

Financial development and TFP growth: Cross-country and industry-level evidence

Arizala, Francisco; Cavallo, Eduardo; Galindo, Arturo - 2009

This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. A significant relationship is found between financial...

Persistent link: https://www.econbiz.de/10010278217

Commodity prices: Structural factors, financial markets and non-linear dynamics

Bastourre, Diego; Carrera, Jorge; Ibarlucia, Javier - 2010

Up to the financial slump of the second quarter of 2008 commodity prices grew fast for several consecutive years in a highly volatile context. Recent commodity fluctuations have raised both policy concerns and a prolific academic debate. This paper offers a coherent theoretical and empirical...

Persistent link: https://www.econbiz.de/10010325086

Financial markets

Bibow, Jörg - 2011

This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in monetary production economies Post Keynesian economics offers a refreshing alternative to mainstream...

Persistent link: https://www.econbiz.de/10010286553

Productivity Shocks and Aggregate Cycles in an Estimated Endogenous Growth Model

Malley, James R.; Woitek, Ulrich - 2009

Using a two-sector endogenous growth model, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate cycles in output, consumption, investment and hours. To contextualize our findings, we also assess whether the human capital...

Persistent link: https://www.econbiz.de/10014207350

Honesty in the digital age

Cohn, Alain; Gesche, Tobias; Maréchal, Michel André - 2020

Modern communication technologies enable effcient exchange of information but often sacrifice direct human interaction inherent in more traditional forms of communication. This raises the question of whether the lack of personal interaction induces individuals to exploit informational...

Persistent link: https://www.econbiz.de/10012420694

Covid-19 e didattica a distanza.Il caso Basilicata, una regione a rischio digital divide

De Filippo, Marcella; Percoco, Annalisa; Voce, Angela - 2020

digitization of the Italian school; it then explores digital education in Lucanian schools through the analysis of statistical … digitalization but has also shown the internal weaknesses and fragilities of states. Distance learning (DAD) has been the response of … schools to the suspension of lessons in order to guarantee students' right to education. The working paper explains what DAD …

Persistent link: https://www.econbiz.de/10012419711

Financialization: what it is and why it matters

Palley, Thomas I. - 2007

Financialization is a process whereby financial markets, financial institutions, and financial elites gain greater influence over economic policy and economic outcomes. Financialization transforms the functioning of economic systems at both the macro and micro levels. Its principal impacts are...

Persistent link: https://www.econbiz.de/10010266625