Calculation of purchasing power parities based on observed consumer behaviour typically relies on the existence of some kind of 'international preferences'. We argue that this unrealistic assumption can be abandoned in 'regional' studies of purchasing power, where prices in both territories...

Recently, the U. S. subprime crisis has shown that a weak collateralization of credits may have massive economic implications, entailing severe perturbations of the international financial system. We focus on central bank lending and try to pin down the quantitative impact of the...

Zusammenfassung Es wird untersucht, inwieweit sich Unterschiede in den existenznotwendigen Ausgaben von Haushalten verschiedener Zusammensetzung adäquat durch die Schätzung demographisch funktionalisierter Linearer Ausgabensysteme quantifizieren lassen. Im Rahmen einer empirischen Analyse auf...

Summary Drawing on household budget data from the German Income and Consumption Surveys of 1988 and 1993, we estimate demographicaily structured Quadratic Expenditure Systems. Both Full Information Maximum Likelihood methods and a Limited Information approach as proposed recently by Ding and...