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Stochastic processes subject to time-scale transformations: An application to high-frequency FX data

Jordá, Oscar; Marcellino, Massimiliano - 2000

This paper is a general investigation of temporal aggregation in time series analysis. It encompasses traditional research on time aggregation as a particular case and extends the analysis to irregular intervals of aggregation. The Data Generating Process is allowed to evolve at regular,...

Persistent link: https://www.econbiz.de/10010318618

Intersection bounds: Estimation and inference

Chernozhukov, Victor; Lee, Sokbae; Rosen, Adam - 2012

bounds as a by-product of our inferential procedures. We develop theory for large sample inference based on the strong …

Persistent link: https://www.econbiz.de/10010318689

State of Literature on Small to Medium-Size Enterprises and Entrepreneurship in Low-Income Communities

Ács, Zoltán J.; Kallas, Kadri - 2007

Motivated by differences in new-firm survival across regions, this paper explores the impact of regional human capital on new-firm survival rates. New-firm survival is interpreted through formation rates of surviving versus closed firms in the service sector. By incorporating knowledge...

Persistent link: https://www.econbiz.de/10010318827

Testing the significance of calendar effects

Hansen, Peter Reinhard; Lunde, Asger - 2003

When evaluating the significance of calendar effects, such as those associated with Monday and January, it is necessary to control for all possible calendar effects to avoid spurious results. The downside of having to control for a large number of possible calendar effects is that it diminish...

Persistent link: https://www.econbiz.de/10010318856

Annexation or conquest? The economics of empire building

Grossman, Herschel I.; Mendoza, Juan - 2002

This paper develops an economic theory of empire building. This theory addresses the choice among three strategies that … Conquest. The theory yields hypotheses that relate the choice among these strategies to such factors as the economic gains from … liquidity constraints on Þnancing imperial armies. This theory also yields hypotheses about the scope of imperial ambitions. The …

Persistent link: https://www.econbiz.de/10010318858

Helping the invisible hand: A theory of endogenous mutual concern

Kolmar, Martin - 2001

This paper develops a theory of endogenous mutual concern. The mutual concern or the morality of economic agents is …

Persistent link: https://www.econbiz.de/10010318859

Endogenously excludable goods

Kolmar, Martin - 2001

In this paper we analyze the optimal interplay between the publie and private enforceement of property rights. In doing so we endogenize the distinction between public and club goods on the one and private and common-pool goods on the other hand. The private enforcement of property rights is...

Persistent link: https://www.econbiz.de/10010318860

Distributional disputes and civil conflict

Grossman, Herschel I. - 2003

Some polities are able to use constitutionally prescribed political processes to settle distributional disputes, whereas in other polities distributional disputes result in civil conflict. Theoretical analysis reveals that the following properties help to make it possible to design a...

Persistent link: https://www.econbiz.de/10010318866

Theory of demand in incomplete markets

Turner, Sergio - 2005

We develop the theory of demand for commodities and assets facing incompletely insurable uncertainty. First, a Slutsky …

Persistent link: https://www.econbiz.de/10010318868

Arrow's impossibility theorem: Two simple single-profile versions

Feldman, Allan M.; Serrano, Roberto - 2006

In this short paper we provide two versions of Arrow’s impossibility theorem, in a world with only one preference profile. Both versions are extremely simple and allow a transparent understanding of Arrow’s theorem. The first version assumes a two-agent society; the second version, which is...

Persistent link: https://www.econbiz.de/10010318869