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Estimating border effects : the impact of spatial aggregation
Coughlin, Cletus Charles; Novy, Dennis - 2016
this paper, we investigate the sensitivity of standard gravity estimation to spatial aggregation. We build a model in which … associated with smaller border effects. The reason is that due to spatial frictions, aggregation across space increases the … mechanism leads to border effect heterogeneity and is independent of multilateral resistance effects in general equilibrium …
Persistent link: https://www.econbiz.de/10011458028
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Global Economic Uncertainty and the U.S. Equity Returns
Jahan-Parvar, Mohammad R.; Kitsul, Yuriy; Rahman, Jamil A. - 2021
We document the predictive ability and economic significance of global economic policy uncertainty for U.S. equity returns. After orthogonalizing global economic policy uncertainty (global EPU) with respect to the U.S. EPU, we find that it has significant predictive power for aggregate stock...
Persistent link: https://www.econbiz.de/10013242535
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Bayesian estimation of a DSGE model with inventories
Foerster, Marcel - 2011
This paper introduces inventories in an otherwise standard Dynamic Stochastic General Equilibrium Model (DSGE) of the business cycle. Firms accumulate inventories to facilitate sales, but face a cost of doing so in terms of costly storage of intermediate goods. The paper's main contribution is...
Persistent link: https://www.econbiz.de/10009011974
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It Investment and Hicks' Composite-Good Theorem : The U.S. Experience
Marquez, Jaime; Wang, Shing-Yi - 2003
We study whether aggregation residuals in U.S. private investment in information technology (IT) exhibit a predictable … finding is that ignoring movement in relative prices results in a loss of information for predicting aggregation residuals …
Persistent link: https://www.econbiz.de/10014076282
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Disaggregating multinationality : an empirical examination of aggregation, adaptation, and arbitrage activities by U.S. multinational corporations
Berry, Heather; Kaul, Aseem - In: Strategy Science 7 (2022) 2, pp. 90-105
Persistent link: https://www.econbiz.de/10013352706
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The day-of-the-week effect revisited : an alternative testing approach
Alt, Raimund; Fortin, Ines; Weinberger, Simon - 2002
This paper questions traditional approaches for testing the day-of-the-week effect on stock returns. We propose an alternative approach based on the closure test principle introduced by Marcus, Peritz and Gabriel (1976), which has become very popular in Biometrics and Medical Statistics. We test...
Persistent link: https://www.econbiz.de/10009725480
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"Beauty is the promise of happiness"?
Hamermesh, Daniel S.; Abrevaya, Jason - 2011
We measure the impact of individuals' looks on their life satisfaction or happiness. Using five data sets from the U.S., Canada, the U.K., and Germany, we construct beauty measures in different ways that allow putting a lower bound on the true effects of beauty on happiness. Personal beauty...
Persistent link: https://www.econbiz.de/10009235144
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U.S. Monetary Policy and the Prospective Structural Slump
Bruno, CMT, Daniel - 2011
It was a huge mistake to see monetary policy as a static problem of engineering the desired balance between unemployment and inflation. The cyclical phases of economic expansion and contraction do not repeat themselves the same way twice in a row, so the monetary and fiscal remedies that worked...
Persistent link: https://www.econbiz.de/10013128064
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Will 2000-Era Retirees Experience the Worst Retirement Outcomes in U.S. History? A Progress Report after 10 Years
Pfau, Wade D. - 2010
We find evidence that retirees in 2000, in particular, are on course to potentially experience the worst retirement outcomes of any retiree since 1926. This holds for a wide variety of asset allocations and withdrawal rate strategies. Wealth depletion is taking place more rapidly for 2000-era...
Persistent link: https://www.econbiz.de/10013135487
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The Effects of the U.S. Price Control Policies on OPEC : Lessons from the Past
Kisswani, Khalid M. - 2015
In 1973-1974, the U.S. faced the so-called “Energy Crisis” due to the Arab oil embargo and a quadrupling of world crude oil prices by OPEC. This led the U.S. to use a “Price Control” policy in the domestic energy market. The effects of such policy are explored and well documented....
Persistent link: https://www.econbiz.de/10013038399