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Agent-based financial markets and New Keynesian macroeconomics: A synthesis
Lengnick, Matthias; Wohltmann, Hans-Werner - 2010
We combine a simple agent-based model of financial markets with a standard New Keynesian macroeconomic model via two straightforward channels. The result is a macroeconomic model that allows for the endogenous development of stock price bubbles. Even with such a simplistic comprehensive model,...
Persistent link: https://www.econbiz.de/10010302700
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The Olympic effect: A reply
Maennig, Wolfgang; Richter, Felix - 2011
Rose & Spiegel (2011) find that Olympic Games host countries experience significant positive and lasting effects on exports. They interpret their results as an indication that countries use the hosting of such an event as a signal of their (new) openness and competitiveness. We challenge these...
Persistent link: https://www.econbiz.de/10010333188
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Estimating the immediate impact of monetary policy shocks on the exchange rate and other asset prices in Hungary
Rezessy, András - 2005
The paper estimates the immediate impact of Hungarian monetary policy on three classes of asset prices: the exchange rate of the forint vis-r-vis the euro, spot and forward government bond yields and the index of the Budapest Stock Exchange. The endogeneity problem is treated with the method of...
Persistent link: https://www.econbiz.de/10010322405
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Monetary policy and real estate prices: A disaggregated analysis for Switzerland
Berlemann, Michael; Freese, Julia - 2010
Most empirical studies found that monetary policy has a significant effect on house prices while stock markets remain unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the real estate market. Employing a new dataset for...
Persistent link: https://www.econbiz.de/10010289022
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Identification through heteroscedasticity in a multicountry and multimarket framework: The effects of European Central Banks on European financial markets
Hayo, Bernd; Niehof, Britta - 2011
This paper formally proves that Rigobon and Sack (2004)'s approach of identifying monetary policy shocks through heteroscedasticity can be extended to a multimarket and multicountry framework. Applying our multivariate framework allows deriving consistent estimators of monetary policy effects....
Persistent link: https://www.econbiz.de/10010286345
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Equity market liberalization, credit constraints and income inequality
Sun, Puyang; Sen, Somnath; Jin, Shujing - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-12, pp. 1-28
This paper provides compelling evidence that equity market liberalization, as the most efficient way to smooth financial market frictions such as credit constraints, can alleviate persistent cross-dynastic income inequality by promoting increased human capital accumulation. The authors examine...
Persistent link: https://www.econbiz.de/10010311850
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Ökonomische Wirkungen der Fußball-WM 2006 in Deutschland zum Teil überschätzt
Brenke, Karl; Wagner, Gert G. - In: DIW Wochenbericht 74 (2007) 29, pp. 445-449
Inzwischen liegen fünf Studien zu den volkswirtschaftlichen Wirkungen der Fußball- WM vor. Naturgemäß behandeln alle nur Teilaspekte, da die gesamte ökonomische Bedeutung des Sportereignisses mit seiner Vielzahl von Wechselwirkungen nicht quantifizierbar ist. Überhaupt nicht messbar sind...
Persistent link: https://www.econbiz.de/10011601742
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Fußball-WM in Südafrika: kaum wirtschaftlicher Nutzen, aber ein Beitrag zum Nation Building
Huschka, Denis; Bruhn, Anja; Wagner, Gert G. - In: DIW Wochenbericht 77 (2010) 23, pp. 11-18
vielerlei Hinsicht der Dritten Welt angehört. Der gesamtwirtschaftliche Nutzen der Fußballweltmeisterschaften ist umstritten. Es …
Persistent link: https://www.econbiz.de/10011602184
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Sports Retailinf in India: Opportunities, Constraints and Way Forward
Mukherjee, Arpita - 2010
Sports retail is a small but fast growing segment of modern retail in India. Recently, the country has been hosting … many international sports and this has given a boost to this sector. Many foreign and domestic corporate retailers have … entered sports retail. Sports goods manufacturing is a focus area in the Foreign Trade Policy (2009-2014) and the government …
Persistent link: https://www.econbiz.de/10011807656
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Beyond the classroom: Using title IX to measure the return to high school sports
Stevenson, Betsey - 2010
expansion in female sports participation by using variation in the level of boys' athletic participation across states before … changes between pre- and post-cohorts reveals that a 10-percentage point rise in state-level female sports participation … participation. Furthermore, greater opportunities to play sports leads to greater female participation in previously male …
Persistent link: https://www.econbiz.de/10010266109