Showing 761 - 770 of 886
This paper is an attempt to explain currency crises and exchange rate movements in open emerging markets during the 1990s. A model is developed that allows a systematic comparison and evaluation of three competing explanations for crises: weak economic fundamentals, contagion and sunspots, i.e....
Persistent link: https://www.econbiz.de/10005697723
We highlight the salient characteristics and implications of the seminal contributions in the field of vintage capital growth theory (proposed entry for the New Palgrave Dictionary of Economics, 2nd edition).
Persistent link: https://www.econbiz.de/10005697724
The majority of the participating voters in referenda does not necessarily reflect the majority of the whole population since voters can abstain. This paper shows that a quorum exists for which the outcome of the referendum coincides with the population preference. However, a second equilibrium...
Persistent link: https://www.econbiz.de/10005697725
Fractionally integrated ARMA (ARFIMA) models are investigated in an Extended version of Nelson and Plosser's (1982) data set.
Persistent link: https://www.econbiz.de/10005697726
This paper further investigated wave behaviours for mergers and acquisitions-M&A in the U.K. during the 1969Q1/2004Q1 period by means of Markov-Switching models. Previous analysis had focused on traditional models that incorporate the potentially limiting assumption of constant transition...
Persistent link: https://www.econbiz.de/10005697727
A brief overview is given of some problems in econometric model building. We discuss, by example, the concept of a time series, a random walk, and integrated variable and the notion of cointegration and common trends.
Persistent link: https://www.econbiz.de/10005697728
This paper uses a recent model on ticket pricing with the aim of studying how the population of potential buyers is partitioned when there are two ranked qualities on offer. Owr exercise incorporated specific distributions of tastes in the computation of the first order conditions for price...
Persistent link: https://www.econbiz.de/10005697729
This paper presents results concerning the size and power of first generation panel unit root and stationarity tests obtained from a large scale simulation study, with in total about 290 million test statistics computed. The tests developed in the following papers are included: Levin, Lin and...
Persistent link: https://www.econbiz.de/10005697730
This paper examines consumption and savings dynamics in a standard model of incomplete markets. Existence of equilibrium requires the imposition of exogenous debt limits but these are often ignored because of the computational difficulties that arise in models with occasionally binding...
Persistent link: https://www.econbiz.de/10005697731
This paper argues that in a growing economy unemployment can be the cause of goods markets failures, even if these are purely transitory. As the economy grows, new firms wish to enter products are accepted on the market, which we model as a purely transitory demand shock. It may take some time,...
Persistent link: https://www.econbiz.de/10005697732