Title:Pre-announcement and Timing - The Effects of a Government Expenditure Shock
Author(s):KRIWOLUZKY, AlexanderDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper investigates the effect of a government expenditure shock on consumption and real wages. I identify the shock by exploiting its pre-announced nature, i.e. different signs of the responses in investment, hours ...
Title:Pre-Announcement and Timing. The Effects of a Government Expenditure Shock
Author(s):KRIWOLUZKY, AlexanderDate:2009Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:This paper investigates the effect of a government expenditure shock on consumption and real wages. I identify the shock by exploiting its pre-announced nature, i.e. different signs of the responses in investment, hours ...
Title:Precautionary Motives and Portfolio Decisions
Author(s):HOCHGUERTEL, StefanDate:2003Type of Publication:ArticleAbstract:This paper studies the empirical relevance of precautionary and other motives for household portfolio behaviour using recent panel data from the Netherlands. Dutch households' portfolios exhibit low degrees of risk taking ...
Title:Predicting one Shot Play in 2x2 Games Using Beliefs Based on Minimax Regret
Author(s):GALLICE, AndreaDate:2006Type of Publication:Working PaperSeries/Report no.:FEEM Working PapersAbstract:We present a simple procedure that selects the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 matching pennies games. As a first step we axiomatically describe players' beliefs. ...
Title:Preferred Point Geometry and Statistical Manifolds
Author(s):CRITCHLEY, Frank; MARRIOTT, Paul; SALMON, MarkDate:1993Type of Publication:ArticleAbstract:A new mathematical object called a preferred point geometry is introduced in order to (a) provide a natural geometric framework in which to do statistical inference and (b) reflect the distinction between homogeneous aspects ...
Title:Preferred Point Geometry and the Local Differential Geometry of the Kullback-Leibler Divergence
Author(s):CRITCHLEY, Frank; MARRIOTT, Paul; SALMON, MarkDate:1994Type of Publication:ArticleAbstract:A new preferred point geometric structure for statistical analysis, closely related to Amari's alpha-geometries, is introduced. The added preferred point structure is seen to resolve the problem that divergence measures ...
Title:Price Discrimination in the Concert Industry
Author(s):COURTY, Pascal; PAGLIERO, MarioDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Concert tickets can either be sold at a single price or at different prices to reflect the various levels of seating categories available. Here we consider how two product characteristics (the artist’s age and venue capacity) ...
Title:Price Smoothing Policies - A Welfare Analysis
Author(s):CANOVA, FabioDate:1992Type of Publication:ArticleAbstract:In post-WWII experience U.S. monetary authorities have attempted to eliminate seasonal fluctuations in prices and nominal interest rates. Developments in financial markets and recently discovered empirical regularities ...
Title:Price Variation Antagonism and Firm Pricing Policies
Author(s):COURTY, Pascal; PAGLIERO, MarioDate:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Survey evidence suggests firms do not use pricing policies that vary prices in
response to demand changes because they fear that such practices would antagonize
consumers. We investigate this hypothesis using a dataset ...
Title:Price Variation Antagonism and Firm Pricing Policies
Author(s):COURTY, Pascal; PAGLIERO, MarioDate:2010Type of Publication:ArticleAbstract:Pricing schemes that vary prices in response to demand shocks may antagonize consumers and reduce demand. At the same time, consumers may take advantage of the opportunities offered by price changes. Overall, the net impact ...
Title:Price Variation Antagonism and Firm Pricing Policies
Author(s):COURTY, Pascal; PAGLIERO, MarioDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Pricing schemes that vary prices in response to demand shocks may antagonize consumers and reduce demand. At the same time, consumers may take advantage of the opportunities offered by price changes. Overall, the net impact ...