Showing 1 - 10 of 22
We propose a novel approach to modelling time preferences, based on a cognitive shortcoming of human decision makers: the perception of future events becomes increasingly `blurred' as the events are pushed further in time. Our model explains behavioural `anomalies' such as preference reversal...
Persistent link: https://www.econbiz.de/10014589002
Over the past twenty years, the R&D-based agricultural biotechnology industry has exhibited cyclical behavior in consolidation. This paper provides a positive, theoretical model of endogenous R&D, in which the number of firms engaged in R&D exhibits cyclical behavior. Additional, empirically...
Persistent link: https://www.econbiz.de/10014601276
theory while the cyclical component is a prominent issue of business cycles theory. The firm statistical foundation of the …
Persistent link: https://www.econbiz.de/10014608630
fully determined by the economic business cycles; (ii) explanatory variables such as sentence length, imprisonment and …
Persistent link: https://www.econbiz.de/10014609423
Summary The HP filter is the most popular filter for extracting the unobserved trend and cycle components from a time series. Many researchers consider the smoothing parameter λ = 1600 as something like a universal constant. It is well known that the HP filter is an optimal filter under some...
Persistent link: https://www.econbiz.de/10014609545
Purpose The purpose of this paper is to look at the lessons learnt from the previous real estate cycles based on a …
Persistent link: https://www.econbiz.de/10014898805
Purpose The purpose of this paper is to assess the duration of the UK commercial property cycles, their volatility and … persistence to gauge future market direction. Design/methodology/approach The study employs a novel approach to dissect cycles in … past values to assess the level of persistence. The sequential steps screen the length of the cycles in UK commercial …
Persistent link: https://www.econbiz.de/10014899047
Purpose – How can one better manage risk in situations with a lot of business cycles exposure? This article offers …
Persistent link: https://www.econbiz.de/10014846957
paper builds long-term cycles based on the city (real) data by estimating the common components of cointegrated time series …
Persistent link: https://www.econbiz.de/10014862796
Purpose A comprehensive understanding business cycles needs to account not only for the allocation of resources over … affected. The application of financial concepts to macroeconomic cycles shows the price mechanism through which resources are … allocated across industries. Originality/value The financial approach we offer to business cycles is fairly unexplored. As such …
Persistent link: https://www.econbiz.de/10014867081