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Centre for European Reform <London>

The Centre for European Reform is a think-tank devoted to improving the quality of the debate on the European Union. It is a forum for people with ideas from Britain and across the continent to discuss the many political, economic and social challenges facing Europe. It seeks to work with...

Persistent link: https://www.econbiz.de/10009636990

Structural Estimation of the Effect of Out-of-Stocks

Musalem, Andres - 2010

W e develop a structural demand model that endogenously captures the effect of out-of-stocks on customer choice by simulating a time-varying set of available alternatives. Our estimation method uses store-level data on sales and partial information on product availability. Our model allows for...

Persistent link: https://www.econbiz.de/10009475399

Understanding Market potential for biodiesel in Spain: A Pilot study based on consumer preferences

Gracia, Azucena; Barreiro-Hurle, Jesus; Perez y Perez, Luis - 2009

biodiesel is still low compared to other EU countries. The aim of the paper is to analyze consumers’ preferences for biodiesel …

Persistent link: https://www.econbiz.de/10009444780

Choosing Differently But In the Same Way: How Self Impacts Beliefs about Others

Orhun, A. Yesim - 2011

We study how people’s own evaluation of choice options influences their estimates of other people’s evaluations when their choices are known. People draw a parallel between themselves and others based on the known choice, and conditionally project their own evaluations of the corresponding...

Persistent link: https://www.econbiz.de/10009477571

Stock market cycles and supply side dynamics : two worlds, one vision?

Grauwe, Paul de; Gerba, Eddie - 2016

En este trabajo se comparan dos metodologías macroeconómicas punteras pero a la vez muy distintas: el modelo DSGE con expectativas racionales y el modelo de comportamiento con racionalidad limitada. Procedemos a ampliar los dos para incluir fricciones financieras por el lado de la oferta...

Persistent link: https://www.econbiz.de/10012530525

The effects of tax changes on economic activity : a narrative approach to frequent anticipations

García Uribe, Sandra

Este artículo estudia los efectos que anticipaciones de cambios impositivos a través de noticias en los medios pudieron tener en la actividad económica de Estados Unidos. Para ello construyo una nueva medida que contiene el nivel de anticipación de la posible aprobación de proyectos de ley...

Persistent link: https://www.econbiz.de/10012532175

Estimating individual responses when tomorrow matters

Bonhomme, Stéphane; Denis, Angela

-step estimation method that relies on subjective beliefs data. We illustrate our approach in a model of consumption and saving …, focusing on the impact of an income tax that not only changes current income but also affects beliefs about future income …. Applying our approach to Italian survey data, we find that individuals’ beliefs matter for evaluating the impact of tax …

Persistent link: https://www.econbiz.de/10014502630

Reference-Dependent Preferences : Models and Experiments

Tenberge, Maximilian - 2010

point and exert a strong influence on decision making and preferences. This paper surveys the theory of reference …-dependent preferences. I will summarize the theoretical framework and present experimental evidence in support of preferences being …

Persistent link: https://www.econbiz.de/10009471596

Do teams alleviate or exacerbate the extrapolation bias in the stock market?

Barahona, Ricardo; Cassella, Stefano; Jansen, Kristy A. E.

Investigamos la manera en que los equipos influyen en la extrapolación de rentabilidades, un sesgo en la formación de creencias que es generalizado a nivel individual y crucial para los modelos conductuales de valoración de activos. Utilizando una muestra de gestores de fondos de inversión...

Persistent link: https://www.econbiz.de/10014436941

Dynamic effects of persistent shocks

Alloza, Mario; Gonzalo, Jesús; Sanz, Carlos

particular, standard local projections identify responses that include an effect due to the persistence of the shock, while … projections and moving average representations. In particular, the inclusion of leads of the shock in local projections allows to … proyecciones locales estándar identifi can respuestas que incluyen un efecto debido a la persistencia del shock, mientras que las …

Persistent link: https://www.econbiz.de/10012523677