Now showing items 1-20 of 35

    • ​Afriat's Theorem and Samuelson's 'Eternal Darkness' 

      Polisson, Matthew; Renou, Ludovic (2016-08) - Journal article
      Suppose that we have access to a finite set of expenditure data drawn from an individual consumer, i.e., how much of each good has been purchased and at what prices. Afriat (1967) was the first to establish necessary and ...
    • Altruism and global environmental taxes 

      Daube, Marc (2018-09-20) - Journal article
      A global externality like the GHG emissions leading to climate change are both due to free-riding at the individual level as well as the government level. A government aiming to maximise domestic social welfare may make ...
    • Capital regulation and systemic risk in the insurance sector 

      Gehrig, Thomas; Iannino, Maria Chiara (2018-06-19) - Journal article
      This paper analyses systemic risk in and the effect of capital regulation on the European insurance sector. In particular, the evolution of an exposure measure (SRISK) and a contribution measure (Delta CoVaR) are analyzed ...
    • The Chinese Phillips curve – inflation dynamics in the presence of structural change 

      Egan, Paul Gerard; Leddin, Anthony J (2017-05-16) - Journal article
      This paper models inflation dynamics in China from 1987 to 2014 using a Phillips curve framework. The Phillips curve is generally estimated under the assumption of linearity and parameter constancy. The existence of ...
    • Choosing on Influence 

      Cuhadaroglu, Tugce (2017-05-26) - Journal article
      Interaction, the act of mutual influence, is an essential part of daily life and economic decisions. This paper presents an individual decision procedure for interacting individuals. According to our model, individuals ...
    • Cost of borrowing shocks and fiscal adjustment 

      de Groot, Oliver; Holm-Hadulla, F.; Leiner-Killinger, N. (2015-12) - Journal article
      Do capital markets impose fiscal discipline? To answer this question, we estimate the fiscal response to a change in the interest rate paid by 14 European governments over four decades in a panel VAR, using sign restrictions ...
    • Dynamic benchmark targeting 

      Schlag, Karl H.; Zapechelnyuk, Andriy (2017-05-01) - Journal article
      We study decision making in complex discrete-time dynamic environments where Bayesian optimization is intractable. A decision maker is equipped with a finite set of benchmark strategies. She aims to perform similarly to ...
    • Earnout financing in the financial services industry 

      Barbopoulos, Leonidas G.; Molyneux, Phil; Wilson, John O.S. (2016-10) - Journal article
      This paper explores the effects of earnout contracts used in US financial services M&A. We use propensity score matching (PSM) to address selection bias issues with regard to the endogeneity of the decision of financial ...
    • Education, income and happiness : panel evidence for the UK 

      FitzRoy, Felix R.; Nolan, Michael A. (2018-11-14) - Journal article
      Using panel data from the BHPS and its Understanding Society extension, we study life satisfaction (LS) and income over nearly two decades, for samples split by education, and age, to our knowledge for the first time. The ...
    • Endogenous price flexibility and optimal monetary policy 

      Senay, Ozge; Sutherland, Alan (2014) - Journal article
      Much of the literature on optimal monetary policy uses models in which the degree of nominal price flexibility is exogenous. There are, however, good reasons to suppose that the degree of price flexibility adjusts endogenously ...
    • Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach 

      Egan, Paul Gerard; Leddin, Anthony J. (2016-05-13) - Journal article
      This paper estimates a monetary policy rule for the People’s Republic of China (PRC) using a standard OLS estimation and a Markov switching model. As the People’s Bank of China (PBOC) generally uses a battery of instruments ...
    • Examining monetary policy transmission in the People's Republic of China – structural change models with a Monetary Policy Index 

      Egan, Paul Gerard; Leddin, Anthony J. (2016-03) - Journal article
      This paper estimates augmented versions of the Investment–Saving curve for the People's Republic of China in an attempt to examine the relationship between monetary policy and the real economy. It endeavors to account for ...
    • Fiscal policy multipliers in an RBC model with learning 

      Mitra, Kaushik; Evans, George W.; Honkapohja, Seppo (2019-01) - Journal article
      Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers ...
    • Free trade versus autarky under asymmetric Cournot oligopoly 

      Amir, Rabah; Jin, Jim Y.; Tröge, Michael (2017-02) - Journal article
      The paper compares free trade with autarky in an asymmetric multi-country world under Cournot competition with constant returns to scale and linear demand. We derive respective conditions under which free trade will hurt ...
    • Inequalities in LPG and electricity consumption in India : The role of caste, tribe, and religion 

      Saxena, Vibhor; Bhattacharya, PC (2018-02) - Journal article
      This paper examines the role of caste, tribe, and religion in determining energy inequality in India. We provide evidence by using the National Sample Survey Organisation data from the 68th round (2011–12) of 87,753 ...
    • Information disclosure and asymmetric speed of learning in booms and busts 

      Palazzo, Francesco; Zhang, Min (2017-09) - Journal article
      We consider a model in which agents gradually learn about the aggregate market conditions — ‘boom’ or ‘bust’ — from the information disclosed after a trading round. The disclosure rules can generate asymmetric learning and ...
    • The ‘inventor balance’ and the functional specialization in global inventive activities 

      Picci, Lucio; Savorelli, Luca (2018-01) - Journal article
      Inventors and organizational assets are inputs of inventive activities which are often provided at a global scale, where countries might specialize in the provision of one or the other type of inputs. We introduce a new ...
    • Local currency pricing, foreign monetary shocks and exchange rate policy 

      Senay, Ozge; Sutherland, Alan (2015-09-01) - Journal article
      The implications of local currency pricing (LCP) for monetary regime choice are analysed for a country facing foreign monetary shocks. In this analysis expenditure switching is potentially welfare reducing. This contrasts ...
    • Monetary policy and financial stability in the long run : a simple game-theoretic approach 

      Cao, Jin; Chollete, Lorán (2017-02) - Journal article
      Many theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality, central banks play complex, long-horizon games and face more than one tradeoff. We account for these strategic ...
    • Multi-task research and research joint ventures 

      La Manna, Manfredi M A (2013-04) - Journal article
      The paper shows that, whenever the completion of a research project requires the overcoming of more than one research obstacle, then Research Joint Ventures enjoy an intrinsic advantage relative to independent firms. This ...