Showing 51 - 60 of 436
In this paper we investigate the presence of asymmetric information in the parallel trading of ten-year government fixed rate bonds (BTP) on two secondary electronic platforms: the business-to-business (B2B) MTS platform and the business-to-customer (B2C) BondVision one. The two platforms are...
Persistent link: https://www.econbiz.de/10004998519
This paper describes CADFtest, a R (R Development Core Team 2008) package for testing for the presence of a unit root in a time series using the Covariate Augmented Dickey-Fuller (CADF) test proposed in Hansen (1995). The procedures presented here are user friendly, allow fully automatic model...
Persistent link: https://www.econbiz.de/10005178344
This paper provides an assessment of the existing preferences on the products currently exported in a few key developed countries’ markets: EU, Japan and US. The analysis is undertaken drawing on the trade preferences database provided by the most recent version (release 6) of the GTAP...
Persistent link: https://www.econbiz.de/10005178345
Principal Component Analysis (PCA) is a well known technique the aim of which is to synthesize huge amounts of numerical data by means of a low number of unobserved variables, called components. In this paper, an extension of PCA to deal with interval valued data is proposed. The method, called...
Persistent link: https://www.econbiz.de/10005178346
The effect of spatial agglomeration (localisation and urbanisation economies) on employment growth is explored over a balanced panel of 23,374 Italian firms, using a flexible Bayesian model. Contrary to previous research, the agglomeration economies measures are calculated using direct measures...
Persistent link: https://www.econbiz.de/10005178347
We develop a two period model to investigate what makes the promise to repay public debt credible. We explor a political solution excluding any role for long-run reputational arguments. There are two sources of heterogeneity among individuals: wealth and income. Differences in asset holdings...
Persistent link: https://www.econbiz.de/10005178348
The aim of the paper is to investigate the indirect impact of internationalisation process, undertaken by the district firms located in Veneto region (north-eastern Italy), on the logistics’ employment change within the same industrial districts. The results of the empirical analysis have...
Persistent link: https://www.econbiz.de/10005178349
Economic theory suggests that firm’s investment depend on future growth opportunities, measured for example by price-earnings ratios, but might be dampened by inefficient financial markets. This paper tests these hypotheses using an unbalanced panel of 9,000 listed firms from 41 developed and...
Persistent link: https://www.econbiz.de/10005042075
MTS markets are an example of quote driven electronic order book markets for Government securities. Proposals are firm, immediately executable and aggregated in a limit order book. In this paper we analyse the evolution of the interaction between the order book and order flow by exploring the...
Persistent link: https://www.econbiz.de/10005450144
This paper contributes to the literature on the role of technology shocks as source of the business cycle in two ways. First, we document that time-series of US productivity and hours are apparently affected by a structural break in the late 60’s, which is likely due to a major change in the...
Persistent link: https://www.econbiz.de/10005748313