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Success and Failure of Technical Trading Strategies in the Cocoa Futures Market

Boswijk, Peter; Griffioen, Gerwin; Hommes, Cars - 2001

A large set of 5350 trend following technica! trading rules is applied to LIFFEand CSCE cocoa futures prices, and tothe Pound-Dollar exchange rate, in the period 1983:1-1997:6. We find that 72% ofthe trading rules generatespositive profits, even when correcting for transaction and borrowing...

Persistent link: https://www.econbiz.de/10010325010

New Economy, Old Central Banks?

Berk, Jan Marc - 2002

Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inf1ation and economic growth are no longer valid. But such...

Persistent link: https://www.econbiz.de/10010325031

Credit vs. payment services: Financial development and economic activity revisited

Bebczuk, Ricardo; Burdisso, Tamara; Sangiácomo, Máximo - 2012

The purpose of this paper is to assess whether the banking system, over and beyond its credit function, has a significant impact on per capita GDP by providing means of payment. An annual database of 85 countries spanning the 1980-2008 period is exploited to this end. On the descriptive front,...

Persistent link: https://www.econbiz.de/10010325088

A new look into credit procyclicality: International panel evidence

Bebczuk, Ricardo; Burdisso, Tamara; Carrera, Jorge; … - 2011

The goal of this paper is to provide up-to-date worldwide evidence on the short-term relationship between credit changes and output changes. Standard correlation methods, stateof-the-art panel Granger causality tests, and panel regressions were applied on a maximum sample of 144 countries over...

Persistent link: https://www.econbiz.de/10010325095

Dangerous liaisons? An empirical assessment of inflation targeting and exchange rate regimes

Aguirre, Horacio; Burdisso, Tamara - 2008

The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy discussions -and a challenge for central banks implementing IT, especially in developing countries. This paper aims at assessing whether there is a relation between the nominal...

Persistent link: https://www.econbiz.de/10010325099

Gestaltungskriterien für ein Folgeabkommen zum Kyoto-Protokoll: Eine ökonomische Analyse des globalen Klimaschutzes

Kleber, Carolin - 2011

Latest findings of climate change research indicate that anthropogenic greenhouse gas emissions since the beginning of the industrial revolution have significantly contributed to the observed rise in global mean temperature. In addition, a further rise, with the potential passing of critical...

Persistent link: https://www.econbiz.de/10010325134

On the heterogeneity of Terror

Kis-Katos, Krisztina; Liebert, Helge; Schulze, Günther - 2012

The existing literature on the determinants of terrorism treats terror as a uniform phenomenon and does not distinguish between different types of terror. This paper explicitly addresses the heterogeneity of terror by classifying groups according to their ideologies. We show that the pattern of...

Persistent link: https://www.econbiz.de/10010325137

The Transaction Costs Perspective on Standards as a Source of Trade and Productivity Growth

den Butter, Frank A.G.; Groot, Stefan P.T.; Lazrak, Faroek - 2007

This paper discusses the design, implementation and use of standards from the perspective of transaction costs economics. A proper design and implementation of standards may lead to a considerable reduction of transaction costs, which enhances trade and, consequently, economic welfare. A major...

Persistent link: https://www.econbiz.de/10010325142

Lobbying on Entry

Perotti, Enrico; Volpin, Paolo - 2004

We develop a model of endogenous lobby formation in which wealth inequalityand political accountability undermine entry and financial development. In-cumbents seek a low level of effective investor protection to prevent potentialentrants from raising capital. They succeed because they can...

Persistent link: https://www.econbiz.de/10010325212

Economics: An Emerging Small World?

Goyal, Sanjeev; van der Leij, Marco; Moraga, Jose Luis - 2004

This paper examines the small world hypothesis. The first part of the paper presents empirical evidence on the … evolution of a particular world: the world of journal publishing economists during the period 1970-2000. We find that in the … 1970's the world of economics was a collection of islands. Two decades later, in the 1990's the world of economics was much …

Persistent link: https://www.econbiz.de/10010325260