This paper aims to shed light on some of the major allocative consequences of financial market bubbles. In March 1997, the Neuer Markt in Germany opened. Six years later, in June 2003, it closed forever. In the interim period lay the spectacular rise and fall of the first and most important...

This paper introduces the notion of nowcasting causality for mixed-frequency VARs as the mixed-frequency version of instantaneous causality. We analyze the relationship between nowcasting and Granger causality in the mixed-frequency VAR setting of Ghysels 2012 and illustrate that nowcasting...

This paper presents some selective aspects of standard econometric methods and of new developments in econometrics that are important for applications with microeconomic data. The range includes variance estimators, measurement of outliers, problems of partially identified parameters, nonlinear...

This study investigates whether mother's empowerment as measured by mother's relative (to father) bargaining power affects children's nutritional status using the National Family Health Survey (NFHS) and National Council of Applied Economic Research (NCAER) data spanning the period between 1992...

This paper studies changes in wage differentials accross education groups for full-time male workers in the French private sector, from 1976 to 2004. We apply quantile regressions to Mincer-type equations to disentangle between- and within-education group wage inequalities, and we describe...

This paper aims to evaluate the distributional impact of both income taxation and noncash income transfers in Italy, where the latter are related to health and educational services. By definition, a tax (in-kind income transfers) system is progressive (regressive) if the tax liabilities (the non...

Though the hypothesis that exchange rate regimes fully predetermine monetary policy in the face of external shocks hardly finds any advocates on theoretical ground it has crept in the most of empirical research. This study adopts a more discerning empirical approach that looks at monetary policy...

Though the hypothesis that exchange rate regimes fully predetermine monetary policy in the face of external shocks hardly finds any advocates in the field of theory, it has crept into empirical research. This study adopts a careful and rigorous empirical approach that looks at monetary policy...

Using the 2004-05 India Human Development Survey data, we estimate and decompose the earnings of household businesses owned by Scheduled Castes and Tribes (SCSTs) and non-SCSTs across the earnings distribution. We find clear diferences in characteristics between the two types of businesses with...

Traditional analysis of gender wage gaps has largely focused on average gaps between men and women, and mean wage decompositions such as the Blinder-Oaxaca (1973) decomposition method. To answer the question of whether there is a “glass ceiling” or a “sticky floor”, i.e. whether wage...