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Using data from a 1998 establishment-level survey in the telecommunications industry, the authors examine the predictors of aggregate quit rates. They draw on strategic human resource and industrial relations theory to identify the sets of employee voice mechanisms and human resource practices...
Persistent link: https://www.econbiz.de/10014034012
Participants in meetings of the Federal Open Market Committee (FOMC) regularly produce individual projections of real activity and inflation that are published in summary form. These summaries indicate participants' views about the most likely course for the macro-economy but, by themselves, are...
Persistent link: https://www.econbiz.de/10014222281
We examine the relation between star analyst rankings and analysts’ forecast performance. To strengthen identification, we explore the exogenous variation in analysts’ incentives generated by the suspension of the New Fortune Star Analyst Contest in China. We find that the reduction in...
Persistent link: https://www.econbiz.de/10014361919
This paper finds that participants in the European Central Bank's Survey of Professional Forecasters have submitted forecasts that are consistent with a (mostly forward-looking) New Keynesian Phillips Curve for the euro area. The estimation results suggest that euro-area inflation forecasts have...
Persistent link: https://www.econbiz.de/10013026617
Persistent link: https://www.econbiz.de/10000941825
Persistent link: https://www.econbiz.de/10002139996
In this paper, we study the Tradesports contracts targeted to the American football outcomes during NFL 2005-2006 regular season. By testing the distribution of actual games' points and the market prices of the contracts, running the regressions of the market prices on the actual outcomes, and...
Persistent link: https://www.econbiz.de/10014052737
We show that log-periodic power-law (LPPL) functions are intrinsically very hard to fit to time series. This comes from their sloppiness, the squared residuals depending very much on some combinations of parameters and very little on other ones. The time of singularity that is supposed to give...
Persistent link: https://www.econbiz.de/10014193969
This paper extends the study of Herrmann and Thomas (2005) on granularity in analyst forecasts at multiples of nickels and finds that forecasts at multiples of nickels are more optimistic, and induce weaker market responses. Granularity in analyst forecasts combined with managers’ incentive to...
Persistent link: https://www.econbiz.de/10014205618
We investigate the cross-sectional pattern of stock returns for eight emerging markets using Vector Autoregressive Approach (VAR) to test whether dividend yields can predict stock returns through impulse response characteristics. Our results confirm that dividend yield shocks play an important...
Persistent link: https://www.econbiz.de/10014205825