Portuguese Economic Journal

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Do bad borrowers hurt good borrowers? A model of biased banking competition
Portuguese Economic Journal - Tập 18 - Trang 5-17 - 2018
David Peón, Manel Antelo
This paper explores a two-bank model in which, first, one bank correctly estimates the probability of low-quality loan repayment while the other overestimates it, and second, both banks have identical convex costs when granting loans. In this context of optimistically biased banking competition, we show how the unbiased bank follows the biased competitor as long as the bias of the latter is not to...... hiện toàn bộ
Boom, slump, sudden stops, recovery, and policy options. Portugal and the Euro
Portuguese Economic Journal - Tập 16 - Trang 149-168 - 2017
Olivier Blanchard, Pedro Portugal
Over the past 20 years, Portugal has gone through a boom, a slump, a sudden stop, and now a recovery. Unemployment has decreased, but remains high, and output is still far below potential. Competitiveness has improved, but more is needed to keep the current account in check as the economy recovers. Private and public debt are high, both legacies of the boom, the slump and the sudden stop. Producti...... hiện toàn bộ
Real exchange rates and target interest rates in a simple VAR model
Portuguese Economic Journal - Tập 2 - Trang 195-218 - 2003
André Varella Mollick
This paper proposes a simple vector autoregressions (VAR) model with (real) output and exchange rate shocks on interest rates. Rather than assuming non-recursive identification schemes, we test the identifying assumption of the error term decompositions. Applying the model to quarterly data on major currencies against the U.S. dollar (USD) from 1974 to 1997, interest rate shocks explain - after 3 ...... hiện toàn bộ
Threshold effect of foreign direct investment on environmental degradation
Portuguese Economic Journal - Tập 14 - Trang 75-102 - 2015
Shu-Chen Chang
The aim of this paper is to investigate the threshold effect of foreign direct investment (FDI) on environmental degradation. In empirical analysis, FDI and environmental degradation are jointly determined under the given threshold variable and other exogenous variables. Using carbon dioxide (CO2) emissions per capita as a proxy for environmental degradation, the results show that increasing FDI w...... hiện toàn bộ
A new approach to bad news effects on volatility: the multiple-sign-volume sensitive regime EGARCH model (MSV-EGARCH)
Portuguese Economic Journal - Tập 8 - Trang 23-36 - 2009
José Dias Curto, João Amaral Tomaz, José Castro Pinto
In this paper, using daily data for six major international stock market indexes and a modified EGARCH specification, the links between stock market returns, volatility and trading volume are investigated in a new nonlinear conditional variance framework with multiple regimes and volume effects. Volatility forecast comparisons, using the Harvey-Newbold test for multiple forecasts encompassing, see...... hiện toàn bộ
Assessing volatility transmission between Brent and stocks in the major global oil producers and consumers – the multiscale robust quantile regression
Portuguese Economic Journal - Tập 21 - Trang 67-93 - 2020
Dejan Živkov, Slavica Manić, Jelena Kovačević, Željana Trbović
This paper investigates the volatility transmission effect between Brent oil futures and stock markets in the major global oil producing and consuming countries – the U.S., Russia, China and Saudi Arabia. In that process, we employ a mixture of novel and elaborate methodologies – wavelet signal decomposing procedure, GARCH model with complex distribution and recently developed robust quantile regr...... hiện toàn bộ
Evolution of price-cost margins during the troika intervention
Portuguese Economic Journal - Tập 22 - Trang 315-351 - 2022
Carlos Figueira, Ricardo Pinheiro-Alves
Market competition is a key driver for an efficient allocation of resources and thus to sustained economic growth and higher aggregate welfare. Portugal implemented significant policy reforms during the difficult period 2010-2016 to improve the level of competition and flexibility in the product and labour markets. This paper measures price-cost margins in 190 markets during these years and the re...... hiện toàn bộ
Sốc cầu và tăng trưởng năng suất Dịch bởi AI
Portuguese Economic Journal - Tập 4 - Trang 15-45 - 2005
António Gomes de Menezes
Bài báo này trình bày bằng chứng về mối quan hệ giữa các sốc chu kỳ và tăng trưởng năng suất, cho 20 ngành sản xuất của Hoa Kỳ được phân loại theo mã SIC 2 chữ số và một loạt các sốc chính sách tiền tệ, chính sách tài khóa và giá dầu. Bài báo sử dụng độ lệch Solow đã được hiệu chỉnh để làm thước đo thay đổi năng suất, với sự điều chỉnh cho một loạt các tác động phi công nghệ do cạnh tranh không ho...... hiện toàn bộ
#sốc cầu #tăng trưởng năng suất #chính sách tiền tệ #chính sách tài khóa #giá dầu
Fossil fuel prices and the economic and budgetary challenges of a small energy-importing economy: the case of Portugal
Portuguese Economic Journal - Tập 12 Số 3 - Trang 181-214 - 2013
Alfredo Marvão Pereira, Rui M. Pereira
Anticipating the location of a waste collection point: an application based on Portugal
Portuguese Economic Journal - Tập 18 - Trang 87-106 - 2018
Vitor Miguel Ribeiro, Mario Pezzino
We study the optimal location of a waste facility in a horizontally differentiated duopoly where firms choose their location and price. The policymaker decides the location of a waste facility targeting social welfare maximization. Consistent with the observation of the location decisions of waste facilities in Portugal, we show that the optimal location of a waste facility is never in the city ce...... hiện toàn bộ
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