Now showing items 1-20 of 69

    • ​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 ...
    • Antitrust penalties and the implications of empirical evidence on cartel overcharges 

      Katsoulacos, Yannis; Ulph, David Tregear (2013-11) - Journal article
      In this paper we provide a number of extensions to the theory of antitrust fines and we use these, with existing and new datasets, to contribute to a better understanding of the current fining policies of Competition ...
    • Asymmetric dominance, deferral and status quo bias in a behavioral model of choice 

      Gerasimou, Georgios (2016-02) - Journal article
      This paper proposes and axiomatically characterizes a model of choice that builds on the criterion of partial dominance and allows for two types of avoidant behavior: *choice deferral* and *status quo bias*. These phenomena ...
    • Beliefs and actions in the trust game : creating instrumental variables to estimate the causal effect 

      Costa-Gomes, Miguel; Huck, Steffan; Weizsaecker, Georg (2014-11) - Journal article
      In many economic contexts, an elusive variable of interest is the agent's belief about relevant events, e.g. about other agents' behavior. A growing number of surveys and experiments ask participants to state beliefs ...
    • 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 ...
    • A comment on "Can relaxation of beliefs rationalize the winner's curse? An experimental study" 

      Costa-Gomes, M.A.; Shimoji, M. (2015) - Journal article
      Ivanov, Levin, and Niederle (2010) use a common-value second-price auction experiment to reject beliefs-based explanations for the winner's curse. ILN's conclusion, however, stems from the misuse of theoretical arguments. ...
    • 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 ...
    • Disinflation and exchange-rate pass-through 

      Senay, Ozge (2008-04) - Journal article
      This paper analyzes exchange-rate dynamics following a money-based disinflation under different degrees of exchange-rate pass-through. Using a microfounded dynamic general equilibrium model with imperfect competition and ...
    • 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 ...
    • Finance and balanced growth 

      Trew, Alex William (2014-06) - Journal article
      We study the relationships between various concepts of financial development and balanced economic growth. A model of endogenous growth that incorporates roles for both financial efficiency and access to financial services ...
    • 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 ...