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Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading question analysed in this paper. In contrast to other studies we use expectations data instead of observable variables. Therefore we analyse the implicit structural models forecasters...
Persistent link: https://www.econbiz.de/10011442397
This paper suggests that exchange rates are related to economic fundamentals over medium-term horizons, such as a month or longer. We find from a large panel of individual professionals' forecasts that good exchange rate forecasts benefit from the proper understanding of fundamentals,...
Persistent link: https://www.econbiz.de/10009374424
This paper provides novel evidence on exchange rate expectations of both chartists and fundamentalists separately. These groups indeed form expectations differently. Chartists change their expectations more often; however, all professionals' expectations vary considerably as they generally...
Persistent link: https://www.econbiz.de/10009521123
Through a survey, economic value estimates were obtained on 962 inventions made in the United States and Germany and on …
Persistent link: https://www.econbiz.de/10011440946
We explore the tail of patented invention value distributions by using value estimates obtained directly from patent holders. The paper focuses on those full-term German patents of the application year 1977 which were held by West German and U.S. residents. The most valuable patents in our data...
Persistent link: https://www.econbiz.de/10011440960
impact of foreign competition on managerial compensation, (2) differences in the impact between Germany and the U.S. and (3 … covering the period from 1984-2010 for Germany respectively 1992-2011 for the U.S. and apply system GMM in order to solve … Germany. A differentiation between imported intermediates (efficient sourcing strategy) and final inputs (competition) reveals …
Persistent link: https://www.econbiz.de/10011897992
In this paper we present a computer-based model (so-called European Tax Analyzer) for the international computation and comparison of company tax burdens. The methodology follows the forward-looking concepts for the measurement of effective average tax rates (EATR) on the basis of a model-firm....
Persistent link: https://www.econbiz.de/10011443402
which can affect cross-border location, investment and financing decisions. Moreover, recent reform proposals in Germany are … likely to have an impact both on investment patterns and financing decisions of US multinationals in Germany. …
Persistent link: https://www.econbiz.de/10011443408
econometric analysis of firm performance in Germany. Based on a unique panel data set with detailed information on almost 400 … Germany's bank-based system of internal control, ownership concentration is harmful for productivity growth. …
Persistent link: https://www.econbiz.de/10011443499
first few quarters. This combination resulted in a major increase of imports from the main trading partners of West Germany … in other countries leading to a feedback on Germany. The paper provides a short overview over the basic model. The …
Persistent link: https://www.econbiz.de/10011444754