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Monetary aggregates to improve early output gap estimates in the euro area -- an empirical assessment
Boysen-Hogrefe, Jens - 2014
Output gap estimates at the current edge are subject to severe revisions. This study analyzes whether monetary aggregates can be used to improve the reliability of early output gap estimates as proposed by several theoretical models. A real-time experiment shows that real M1 can improve output...
Persistent link: https://www.econbiz.de/10010248220
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Does the dream of home ownership rest upon biased beliefs? : a test based on predicted and realized life satisfaction
Odermatt, Reto; Stutzer, Alois - 2020
The belief that home ownership makes people happy is probably one of the most widespread intuitive theories of happiness. However, whether it is accurate is an open question. Based on individual panel data, we explore whether home buyers systematically overestimate the life satisfaction...
Persistent link: https://www.econbiz.de/10012254078
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Forecasting Adoption of Ultra-Low-Emission Vehicles Using the GHK Simulator and Bayes Estimates of a Multinomial Probit Model
Daziano, Ricardo; Achtnicht, Martin - 2014
stated-preference data on vehicle choice from a Germany-wide survey of potential light-duty-vehicle buyers using computer …-assisted personal interviewing. We show that Bayesian estimation of a multinomial probit model with a full covariance matrix is feasible … representing an average of the current vehicle choice situation in Germany. Consumer response to qualitative changes in the base …
Persistent link: https://www.econbiz.de/10014172337
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Why Does the Yield Curve Predict Economic Activity? : Dissecting the Evidence for Germany and the United States
Smets, Frank; Tsatsaronis, Kostas - 2013
This paper investigates why the slope of the yield curve predicts future economic activity in Germany and the United … spread in that country. However, the main reason for the stronger leading indicator property in Germany is the positive … at lag four in Germany and almost nothing in the United States …
Persistent link: https://www.econbiz.de/10014224209
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Do corporate cash holdings predict stock returns?
Rao, Ramesh K.; Tang, Hongfei; Chandrashekar, Satyajit - In: The journal of investing 22 (2013) 2, pp. 29-39
Persistent link: https://www.econbiz.de/10009771069
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The cash premium in international stock returns
Walkshäusl, Christian - In: The journal of asset management 19 (2018) 1, pp. 3-12
Persistent link: https://www.econbiz.de/10011847575
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Forecasting cash holding with cash deposit using time series approaches
Kobpongkit Navapan; Liu, Jianxu; Songsak Sriboonchitta - In: Robustness in econometrics, (pp. 501-510). 2017
Persistent link: https://www.econbiz.de/10011801810
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Measuring the Value of Corporate Cash Holdings against Predictable and Unpredictable Negative Shocks
Hori, Keiichi; Aono, Kohei - 2021
This paper explores how cash mitigates predictable and unpredictable adverse cash flow shocks to firms using the financial data of Japanese firms. We find that (i) cash has no value after the predicted shock regardless of the severity of the financial constraint, (ii) after the unpredicted...
Persistent link: https://www.econbiz.de/10013230436
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The role of monetary aggregates in the policy analysis of the Swiss National Bank
Kirchgässner, Gebhard; Wolters, Jürgen - 2010
Using Swiss data from 1983 to 2008, this paper investigates whether growth rates of the different measures of the quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand relations are specified, estimated and tested. Then,...
Persistent link: https://www.econbiz.de/10003936693
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Divisia Monetary Aggregates for Russia : Money Demand, GDP Nowcasting, and the Price Puzzle
El-Shagi, Makram; Tochkov, Kiril - 2021
The lack of developed financial markets and well-functioning transmission channels assigns monetary aggregates in emerging economies the potential role of nominal anchor, intermediate target, or informational variable for monetary policy. The effectiveness of this approach relies crucially on...
Persistent link: https://www.econbiz.de/10013219425