We propose to use the wavelet concept of the phase angle to determine the lead-lag relationship between investor sentiment and excess returns that are related to the bubble component of stock prices. The wavelet phase angle allows for decoupling short- and long-run relations and is additionally...

This paper proposes a technique to decompose short-run fluctuations in the terms of trade. Using Ethiopia as an example, we decompose the commodity terms of trade into various components to measure the impact of price and volume shifts as well as export diversification. We use monthly data from...

The present paper analyzes the impact of a climate coalition's border carbon adjustment on emissions from commodity production, welfare and the coalition size. The coalition implements border carbon adjustment to reduce carbon leakage and to improve its terms of trade, while the fringe abstains...

We analyze pricing patterns and price level effects of algorithms in the market segments for OTC-antiallergics and -painkillers in Germany. Based on a novel hourly dataset which spans over four months and contains over 10 million single observations, we produce the following results. First,...

The aim of this paper is to analyze entrepreneurial activity in OECD countries over the period 1999-2012 in order to make a distinction between economies that are more or less entrepreneurial. A combined use of multidimensional and evolutive data analysis methods is used with variables...

Due to their well-known indeterminacies, factor models require identifying assumptions to guarantee unique parameter estimates. For Bayesian estimation, these identifying assumptions are usually implemented by imposing constraints on certain model parameters. This strategy, however, may result...

Implementation and usage of the latest inventions in information technology provides enterprises better position on the global market. Radio Frequency Identification (RFID) presents the innovative information technology that can change and improve many of the enterprises collaboration operations...

In this research, we propose the bootstrap procedure as a method for train/test splitting in machine learning algorithms for classification. We show that this resampling method can be a reliable alternative to cross validation and repeated random test/train splitting algorithms. The bootstrap...

In the context of demographic changes and active aging in the workplace, managing age diversity contributes to creating new perspectives across the entire field of human resource management. The main objective of this paper is to determine the impact of appropriate working conditions and...

Digitization in the tourism sector beside hospitality information systems application as its integral part has also led to the application of on-line booking systems, which enable the booking of the desired tourist arrangement via the Internet. Consequently, the emergence of the e-booking...