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aufzeigen: zur Investition in Humankapital, zu Maßnahmen, die auf verstärkte Eigenverantwortlichkeit abstellen …
Persistent link: https://www.econbiz.de/10010291037
In this paper we design a simple trading strategy to exploit the hypothesized distinct informational content of the arithmetic and geometric mean. The rejection of cointegration between the two stock market indicators supports this conjecture. The profits generated by this cheaply replicable...
Persistent link: https://www.econbiz.de/10010291049
In the paper we consider the role of seasonal intercepts in seasonal cointegration analysis. For the nonseasonal unit root, such intercepts can generate a stochastic trend with a drift common to all observations. For the seasonal unit roots, however, we show that unrestricted seasonal intercepts...
Persistent link: https://www.econbiz.de/10010291050
We propose a bivariate structural time series framework to decompose GDP and the unemployment rate into their trend, cyclical, and irregular components. We implement Okun's law by a generalised version of the common cycles restriction allowing for a phase shift between the two cycles and add a...
Persistent link: https://www.econbiz.de/10010291052
Based on the Heckscher-Ohlin-Vanek (H-O-V) theory, the paper develops theoretical models that lead to estimating cross …-industry equations in a proper way, when allowing for departures from some of the strong assumptions of the H-O theory, such as perfect … reformulate the rank hypotheses that allow for direct tests of the H-O-V theory when some of the assumptions of the original …
Persistent link: https://www.econbiz.de/10010291053
The Heckscher-Ohlin theory and the Ricardian theory of international commerce traditionally have been treated as … integrated theory. This paper combines the Heckscher-Ohlin model and Ricardian model into a single unified framework and offers …
Persistent link: https://www.econbiz.de/10010291054
This paper investigates a Dutch data set on vacancy durations and numbers of applicants to inquire employer's search strategies. A non-sequential search process assumes that most vacancies are filled from a pool of applicants, which is formed shortly after the posting of the vacancy. The time...
Persistent link: https://www.econbiz.de/10010291058
The importance of auction theory has gained increased recognition in the scientific community, the latest recognition … being the award of the Nobel price to Vickrey and Mirrlees. Auction theory has been used in quite different fields, both …
Persistent link: https://www.econbiz.de/10010291059
In most of the empirical research on capital markets, stock market indexes are used as proxies for the aggregate market development. In previous work we found that a particular market segment might be less efficient than the whole market and hence easier to forecast. In this paper we extend the...
Persistent link: https://www.econbiz.de/10010291063
This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilizes in the absence of any wage-price surprises. Conventional thinking...
Persistent link: https://www.econbiz.de/10010291066