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Less of a puzzle: a new look at the forward forex market

Roche, Maurice J.; Moore, Michael J. - Department of Economics, National University of Ireland

The two-country monetary model is extended to include a consumption externality with habit persistence. This is set …

Persistent link: https://www.econbiz.de/10010954125

Gomes, Orlando; Ferreira-Lopes, Alexandra; Sequeira, Tiago - In: Journal of Economics 113 (2014) 1, pp. 31-57

agent adopts, at some initial date, an optimal behavior that shapes her consumption trajectory over time. This agent desires …

Persistent link: https://www.econbiz.de/10010959146

Can a Lucas model with habit generate realistic conditional volatility in exchange rate returns?

Liu, Jingyi - School of Economics, University of Edinburgh - 2008

In this paper, we attempt to give a theoretical underpinning to the well established empirical stylized fact that asset returns in general and the spot FOREX returns in particular display predictable volatility characteristics. Adopting Moore and Roche.s habit persistence version of Lucas model...

Persistent link: https://www.econbiz.de/10005369094

Dynamic analysis of British demand for tourism abroad

Lyssiotou, Panayiota - In: Empirical Economics 25 (2000) 3, pp. 421-436

This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979-91 and the empirical results suggest that preference endogeneity...

Persistent link: https://www.econbiz.de/10005382489

Food Consumption, Paternalism and Economic Policy

Thunström, Linda - Institutionen för Nationalekonomi, Umeå Universitet - 2008

The thesis consists of a summary and four papers, concerned with food consumption, behavior associated with … consumption based on household panel data and detailed product characteristics, and simulate the effect on grain consumption of … results suggest that price instruments need to be substantial to change consumption. For instance, removing the VAT on …

Persistent link: https://www.econbiz.de/10005207278

Finanzmarktentwicklung, Immobilienpreise und Konsum

Dreger, Christian; Slacalek, Jiri - In: DIW Wochenbericht 74 (2007) 35, pp. 533-536

Im Euroraum und vor allem in Deutschland hat sich die Konjunktur seit dem Boom der "New Economy" lange Zeit nur verhalten entwickelt. Ein wesentlicher Grund dafür war die schwache Dynamik der Binnennachfrage, insbesondere der Konsumausgaben der privaten Haushalte. Sie haben in Deutschland in...

Persistent link: https://www.econbiz.de/10005019361

Monetary Policy and the Term Structure of Interest Rates

Ravenna, Federico; Seppala, Juha - Society for Computational Economics - SCE - 2006

We study how well a New Keynesian business cycle model can explain the observed behavior of nominal interest rates. We focus on two puzzles raised in previous literature. First, Donaldson, Johnsen, and Mehra (1990) show that while in the U.S. nominal term structure the interest rates are...

Persistent link: https://www.econbiz.de/10005342933

Current Account Dynamics in OECD Countries and in the New EU Member States: An Intertemporal Approach

Bussière, Matthieu; Fratzscher, Marcel - In: Journal of Economic Integration 21 (2006), pp. 593-618

the fiscal balance. Specifically, a closed form solution for consumption in the presence of habit persistence and …

Persistent link: https://www.econbiz.de/10009392016

Interactions between cigarette and alcohol consumption in rural China

Yu, Xiaohua; Abler, David - In: The European Journal of Health Economics 11 (2010) 2, pp. 151-160

Persistent link: https://www.econbiz.de/10009404287

Can a Lucas model with habit generate realistic conditional volatility in exchange rate returns?

Liu, Jingyi - Scottish Institute for Research in Economics (SIRE) - 2008

Persistent link: https://www.econbiz.de/10010550770