Empirical Economics
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Intratemporal elasticity of substitution between private and public consumption: new evidence and implications
Empirical Economics - Tập 65 Số 4 - Trang 1655-1692 - 2023
Causation between health and income: a need to panic
Empirical Economics - Tập 42 - Trang 583-601 - 2012
This article tests whether health has improved income or income has improved health in OECD countries over the last 50 years. A theoretical framework for both directions of causation is first outlined. A panel time-series approach is then taken and, unlike similar work, common shocks across countries (‘cross-sectional dependence’) are taken into account in the analysis using the PANIC (Panel Analy...... hiện toàn bộ
Does corporate governance affect financial analysts’ stock recommendations, target prices accuracy and earnings forecast characteristics? An empirical investigation of US companies
Empirical Economics - Tập 63 - Trang 2125-2171 - 2022
This paper investigates how corporate governance quality affects the analyst’s stock recommendations, forecast efficiency and target price accuracy on New York Stock Exchange. In particular, as corporate governance is often uncertain and ambiguous to investors, expert financial advisors may use transparent corporate governance information to set their recommendations and improve the level of accur...... hiện toàn bộ
Public good provision rules and income distribution: Some general equilibrium calculations
Empirical Economics - Tập 16 - Trang 25-33 - 1991
A central issue in the analysis of public goods is the relationship between the optimal provision level and the distribution of income. Theoretical research has stressed the conditions under which the optimum is independent of the distribution of income. Here we focus on numerical analysis of more policy-relevant concerns. Specifically, to what extent is a given redistribution of income likely to ...... hiện toàn bộ
The impact of wages on job search in a transition economy - evidence with data from Eastern Germany
Empirical Economics - Tập 22 - Trang 41-61 - 1997
This study is concerned with the impact of wages on job search decisions in Eastern Germany immediately after reunification and in later periods. Several concepts measuring wage effects are used. The results of bivariate probit estimates with incomplete classification for a global and local job search show that the wage level had stronger effects on the former than on the latter job search decisio...... hiện toàn bộ
Size-corrected inference in fiscal policy reaction functions: a three country assessment
Empirical Economics - Tập 55 - Trang 391-416 - 2017
As a reflection of both strong persistence of debt-to-GDP ratios and correlation of respective innovations with governments’ primary surpluses, standard t-tests in policy reaction functions show actual significance levels that are up to five times larger than their nominal reference. Adopting size-controlled inference by means of Monte Carlo-based and asymptotic Bonferroni critical values, we diag...... hiện toàn bộ
The HUMP-shaped behavior of macroeconomic fluctuations
Empirical Economics - Tập 18 - Trang 707-727 - 1993
We analyze the nature of persistence in macroeconomic fluctuations. The current view is that shocks to macroeconomic variables (in particular realGNP) have effects that endure over an indefinite horizon. This conclusion is drawn from the presence of a unit root in the univariate time series representation. Following Perron (1989), we challenge this assessment arguing that most macroeconomic variab...... hiện toàn bộ
The effects of revealing the prosecution of political corruption on local finances
Empirical Economics - Tập 64 - Trang 249-275 - 2022
This paper analyzes the financial implications on local public budgets of disseminating information about the prosecution of political corruption at the local level. We build a database from a wave of corruption scandals in Spain to use a quasi-experimental design and find that after corruption is revealed, both local public revenues and expenditures decrease significantly (approximately by 7 and ...... hiện toàn bộ
On the predictability of time-varying VAR and DSGE models
Empirical Economics - Tập 45 - Trang 635-664 - 2012
Over the last few years, there has been a growing interest in DSGE modelling for predicting macroeconomic fluctuations and conducting quantitative policy analysis. Hybrid DSGE models have become popular for dealing with some of the DSGE misspecifications as they are able to solve the trade-off between theoretical coherence and empirical fit. However, these models are still linear and they do not c...... hiện toàn bộ
Permanent and transitory price shocks in commodity futures markets and their relation to speculation
Empirical Economics - Tập 56 - Trang 1359-1382 - 2018
This paper takes an innovative look at the relationship between commodity futures prices and speculation. Contrary to other studies, we analyze the effect of speculation on temporary and permanent futures price shocks estimated from a cointegrated system of pairwise short- and long-dated contracts. Where cointegration is found, the long-term equilibrium is determined by the long-dated contract, wh...... hiện toàn bộ
Tổng số: 2,293
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