We document information rigidity in forecasts for real GDP growth in 46 countries over the past two decades. We investigate: (i) if rigidities are lower around turning points in the economy, such as in times of recessions and crises; (ii) if rigidities differ across countries, particularly...

We use recently proposed Bayesian statistical methods to compare the habit persistence asset pricing model of Campbell and Cochrane, the long-run risks model of Bansal and Yaron, and the prospect theory model of Barberis, Huang, and Santos. We improve these Bayesian methods so that they can...

The recognition that contracts have a time dimension has given rise to a very abundant literature since the end of the 1980s. In such a dynamic context, the contract may take place over several periods and develop repeated interactions. Then, the principal topics of the analysis are commitment,...

The growth empirics of two separate but related issues are studied. In the first, the annual data on GDP per person (GDPpp) for Brazil, 1822-2000, and the US, 1869-1996, were converted into arrival times for innovations defined as permanent increments to GDPpp of given size (e.g. 3%). We say an...

This paper analyzes the effects of IMF member countries participation in the IMF’s Data Standards Initiatives (DSI) on the statistical quality of WEO forecasts. Results show that WEO forecasts for SDDS subscribers are in general better than for GDDS participants and those member countries...

The recognition that contracts have a time dimension has given rise to a very abundant literature since the end of the 1980s. In such a dynamic context, the contract may take place over several periods and develop repeated interactions. Then, the principal topics of the analysis are commitment,...

The economic evolutions in Romania, in the first decade of the XXI century, were marked by increases and decreases with rather large amplitudes. Growth period up to 2008 was followed by a significant recession, the economic crisis started in 2009 having implications in the all economic sectors....

En este trabajo se presenta una aportación original en el ámbito del método de valoración conocido como «de las dos betas» (en general método de las dos funciones de distribución), como es sabido, en este método el valor de un activo se establece a través del valor de un índice de...

In the last few years, and especially after the beginning of the economic and financial crisis in Romania, significant changes occurred in the macroeconomic indicators conditioning the final consumption of the population. Consequently, in this article, we aimed at analysing the evolution of the...

Recent studies have tested the preference axioms of completeness and transitivity, and have detected other preference phenomena such as unstability, learning- and tiredness effects, ordering effects and dominance, in stated preference discrete choice experiments. However, it has not been...