Now showing items 20-39 of 83 starting with E

    • 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 

      Sutherland, Alan; Senay, Ozge (Centre for Dynamic Macroeconomic Analysis, 2010) - Working or discussion paper
      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 ...
    • 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 ...
    • A financial accelerator through coordination failure 

      de Groot, Oliver (University of St Andrews, 2019-01-31) - Working or discussion paper
      This paper studies the effect of liquidity crises in short-term debt markets in a dynamic general equilibrium framework. Creditors (retail banks) receive imperfect signals regarding the profitability of borrowers (wholesale ...
    • Financial intermediation, resource allocation, and macroeconomic interdependence 

      Ozhan, G. Kemal (University of St Andrews, 2017-02-17) - Working or discussion paper
      This paper studies the role of the financial sector in affecting domestic resource allocation and cross-border capital flows. I develop a quantitative, two-country, macroeconomic model in which banks face endogenous and ...
    • 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 ...
    • Growing through subsidies 

      Aloi, Marta; Lasselle, Laurence (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      We consider an overlapping generation model based on Matsuyama (1999) and show that, whenever actual capital accumulation falls below its balanced growth path, subsidising innovators by taxing consumers has stabilising ...
    • (Hemi)Continuity of additive preference preorders 

      Gerasimou, Georgios (2015-05) - Journal article
      It is shown that the two common notions of topological continuity for preference preorders, which require closed contour sets and a closed graph respectively, are equivalent even when completeness is not assumed, provided ...
    • Heterogeneous beliefs and instability 

      Lasselle, Laurence; Svizzero, Serge; Tisdell, Clem (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      While Rational Expectations have dominated the paradigm of expectations formation, they have been more recently challenged on the empirical ground such as, for instance, in the dynamics of the exchange rate. This challenge ...
    • Higher tax for top earners 

      FitzRoy, Felix; Jin, Jim (University of St Andrews, 2017-02) - Working or discussion paper
      The literature can justify increasing and decreasing marginal taxes (IMT & DMT) on top income under different social objectives and income distributions. Even if DMT are optimal, they are often politically infeasible. Then ...
    • Indecisiveness, undesirability and overload revealed through rational choice deferral 

      Gerasimou, Georgios (2018-09) - Journal article
      Three reasons why decision makers may defer choice are indecisiveness between various feasible options, unattractiveness of these options, and choice overload. This paper provides a choice-theoretic explanation for each ...
    • 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 ...
    • Interest rate rules and welfare in open economies 

      Senay, Ozge (2008-07) - Journal article
      This paper analyses the welfare performance of a set of five alternative interest rate rules in an open economy stochastic dynamic general equilibrium model with nominal rigidities. A rule with a lagged interest rate term, ...
    • 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 ...