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Persistent link: https://www.econbiz.de/10000667260
The study examines the effect of financial crises on international trade with a gravity approach and a large data set covering almost 70 importing and 200 exporting countries from 1950 to 2009. Thus it is possible to put the "Great Trade Collapse" witnessed during the financial crisis 2008/2009,...
Persistent link: https://www.econbiz.de/10011521734
The Global Vector Autoregressive (GVAR) approach has proven to be a very useful approach to analyze interactions in the global macroeconomy and other data networks where both the cross-section and the time dimensions are large. This paper surveys the latest developments in the GVAR modeling,...
Persistent link: https://www.econbiz.de/10010354717
This paper provides evidence on the degree of persistence of one of the key components of the CAPM, namely the market risk premium, as well as its volatility. The analysis applies fractional integration methods to data for the US, Germany and Japan, and for robustness purposes considers...
Persistent link: https://www.econbiz.de/10012199998
Ansatz einer ökonomischen Theorie der Moral. Untersucht wird, wie die beiden Ansätze dem moralischen Anliegen vorarbeiten …, die internationale Versorgung mit Arzneimitteln zu verbessern, d.h. wie sie als Theorie dem praktischen Missstand … einer ökonomischen Theorie der Moral primär darin, dass in armen Ländern vielfach die institutionellen Voraussetzungen …
Persistent link: https://www.econbiz.de/10011757912
Millions of people in the developing world lack access to curative drugs. Thomas Pogge identifies the cause for this … countries hinder the poor from expressing their needs as actual demand on the market. From a theory point of view, the major …
Persistent link: https://www.econbiz.de/10011757929
Persistent link: https://www.econbiz.de/10011919041
are analysed and insights from the theory of industrial organisation are given. Governments intervene in the market for …
Persistent link: https://www.econbiz.de/10002734112
This paper evaluates the Morningstar mutual fund ranking system. We find that indeed higher Morningstar ratings are associated with higher returns on the portfolios including respectively five-, four-, three-, two- and one-star funds only (STAR5 to STAR1). We then perform an unconditional and...
Persistent link: https://www.econbiz.de/10003823971
This paper introduces a novel approach for dealing with the "curse of dimensionality" in the case of large linear dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the number of endogenous variables tends to infinity. It is...
Persistent link: https://www.econbiz.de/10003831142