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on domestic productivity. The domestic R&D capital stock plays an active role in Western Europe while in the Eastern part …
Persistent link: https://www.econbiz.de/10010264898
How is it possible that exchange rates move in the long run towards fundamentals, while professionals form consistently irrational exchange rate expectations? We look at this puzzle from a different perspective by analyzing investor sentiment in the US-dollar market. First, long-horizon...
Persistent link: https://www.econbiz.de/10010264930
This study suggests another explanation of the missing globalization puzzle typically observed in the empirical gravity models. In contrast to the previous research that focused on aggregated trade flows, we employ the trade flows in manufacturing products broken down by 25 three-digit ISIC...
Persistent link: https://www.econbiz.de/10010264976
) estimation procedure applied to the non-linear multiplicative specification of the gravity model. We use the trade flows for all … explanatory variables such as exporter and importer total income, distance, preferential trade agreements, common border …/or quantitative differences in the values of estimated coefficients as a result of application of an alternative estimation method …
Persistent link: https://www.econbiz.de/10010264979
forecasts: a moving average transformation of the underlying forecasts and estimation with constant forecast-horizon- effects …
Persistent link: https://www.econbiz.de/10010265008
Germany, the two largest electricity distribution countries in Europe. We examine the relative performance of 99 French and 77 …
Persistent link: https://www.econbiz.de/10010265037
of income taxation for this group. To this end, we derive the social welfare function which guarantees that joint … earn a similar amount of income. In contrast, the optimality of individual taxation is less dependent of the working …
Persistent link: https://www.econbiz.de/10010265042
problems with examining gender issues in the context of an income-based pro-poor growth framework, the paper considers theory …
Persistent link: https://www.econbiz.de/10010265077
This paper investigates the magnitude and the main determinants of share price reactions to buy-back announcements of German corporations. For our comprehensive sample of 224 announcements that took place between May 1998 and April 2003 we find average cumulative abnormal returns around -7.5%...
Persistent link: https://www.econbiz.de/10010265096
This paper compares the accuracy of credit ratings of Moody's and Standard&Poor's. Based on 11,428 issuer ratings and 350 defaults in several datasets from 1999 to 2003 a slight advantage for the rating system of Moody's is detected. Compared to former research the robustness of the results is...
Persistent link: https://www.econbiz.de/10010265098