Title:Rolling Back the Public Sector: Differential Effects on Unemployment, Investment and Growth
Author(s):VAN DER PLOEG, FrederickDate:2005Type of Publication:Working PaperSeries/Report no.:CEPR discussion paperAbstract:The macroeconomic effects of different ways of rolling back the welfare state are analysed. Cutting public spending on market goods induces a lower interest rate, a higher wage, a lower capital stock and a fall in employment. ...
Title:RTAs Formation and Trade Policy
Author(s):SALA, DavideDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:From the mid-60s to the mid-80s there has been a gradual but fundamental change
in the nature of trade protection. International trade has become increasingly restricted
by quotas and other nontariff barriers, as the ...
Title:S-Curve Redux: On the International Transmission of Technology Shocks
Author(s):ENDERS, Zeno; MÜLLER, Gernot J.Date:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Using vector autoregressions on U.S. time series, we find that technology shocks induce an ‘S’-
shaped cross-correlation function for the trade balance and the terms of trade (S-curve). In calibrating
a prototypical ...
Title:Sample Kurtosis, GARCH-t and the Degrees of Freedom Issue
Author(s):HERACLEOUS, Maria S.Date:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Econometric modeling based on the Student’s t distribution introduces an
additional parameter — the degree of freedom. In this paper we use a simulation
study to investigate the ability of (i) the GARCH-t model (Bollerslev, ...
Title:Sample Kurtosis, GARCH-t and the Degrees of Freedom Issue
Author(s):HERACLEOUS, Maria S.Date:2007Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:Econometric modeling based on the Student's t distribution introduces an additional
parameter -- the degree of freedom. In this paper we use a simulation study to
investigate the ability of (i) the GARCH-t model (Bollerslev, ...
Title:The Saving Glut Explanation of Global Imbalances. The Role of Underinvestment
Author(s):CORNELI, FlaviaDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:According to the “Saving Glut hypothesis”, global imbalances are caused by inefficiently high level of precautionary savings in .nancially underdeveloped regions, where agents have limited opportunity to diversify idiosyncratic ...
Title:Sector-specific Markup Fluctuations and the Business Cycle
Author(s):GABLER, AlainDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The counter-cyclicality in the relative price of equipment investment
which is observed in the U.S. has been attributed to equipment-specific pro-
ductivity shocks. Cross-country evidence indicates that a number of ...
Title:Sectoral Survey-based Confidence Indicators for Europe
Author(s):CARRIERO, Andrea; MARCELLINO, MassimilianoDate:2011Type of Publication:ArticleAbstract:We analyse a novel dataset of Business and Consumer Surveys, using dynamic factor techniques, to produce composite coincident indices (CCIs) at the sectoral level for the European countries and for Europe. Surveys are ...
Title:Security: New Threats and New Strategies
Author(s):KRATOCHWIL, Friedrich; PETROVSKY, Vladimir; LANC, ErwinDate:2003Type of Publication:ArticleAbstract:Among many goals which governments and individuals always pursue, the broadest and most common is security. It is the basic context in which most other values are enjoyed, in the expectation that they will last for a long ...
Title:Self-fulfilling Beliefs and Bounded Bubbles in the U.S. Housing Market
Author(s):KASHIWAGI, MasanoriDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:This paper provides an equilibrium framework to organize the following empirical observations on the
U.S. housing market from 1975 to 2007: (i) housing tenure and vacancies were approximately
constant, (ii) rents were ...