Title:Does the Good Matter? Evidence on Moral Hazard and Adverse Selection from Consumer Credit Market
Author(s):BICAKOVA, AlenaDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Default rates on instalment loans vary with type of the good purchased.
Using an Italian dataset of instalment loans between 1995-1999, we first
show that the variation persists even after controlling for contract ...
Title:Does Trade Foster Institutions? An Empirical Assessment
Author(s):NICOLINI, Marcella; PACCAGNINI, AlessiaDate:2011Type of Publication:ArticleAbstract:The relationship between trade and institutions has been extensively debated by trade economists and political scientists. The aim of the present paper is to provide some empirical evidence on the causal relationship between ...
Title:Domestic and International Influences on Business Cycle Regimes in Europe
Author(s):ARTIS, Michael J.; SENSIER, Marianne; BIRCHENHALL, Chris; OSBORNE, DeniseDate:2002Type of Publication:Working PaperSeries/Report no.:Centre for Growth and Business Cycle Research Discussion Paper SeriesAbstract:This paper examines the roles of domestic and international variables in predicting classical business cycle regimes in Germany, France, Italy and the UK over the period 1970 to 2001. A range of real and financial variables ...
Title:DSGE Models of High Exchange-Rate Volatility and Low Pass-Through
Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2005Type of Publication:Working PaperSeries/Report no.:CEPR Discussion PapersAbstract:This paper develops a quantitative, dynamic, open-economy model which endogenously generates high exchange rate volatility, whereas a low degree of exchange rate pass-through (ERPT) stems from both nominal rigidities (in ...
Title:Durable Consumption and Asset Management with Transaction and Observation Costs
Author(s):ALVAREZ, Fernando; GUISO, Luigi; LIPPI, FrancescoDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The empirical evidence on rational inattention lags far behind the theoretical developments:
micro evidence on the most immediate consequence of observation costs
- the infrequent observation of state variables - is not ...
Title:Dynamic Competitive Economies with Complete Markets and Collateral Constraints
Author(s):GOTTARDI, Piero; KUBLER, FelixDate:2012Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:In this paper we examine the competitive equilibria of a dynamic stochastic economy with complete markets and collateral constraints. We show that, provided both the set of asset payoffs and collateral levels are sufficiently ...
Title:Dynamic factor models in estimation and forecasting
Author(s):BYSTROV, VictorDate:2008Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:This thesis addresses the issue of the relative performance of dynamic factor models in finite samples in the presence of structural breaks. It extends an existing literature by considering new data sets and evaluating ...
Title:Dynamic Factor Models in Macro-finance
Author(s):SCHERRER, DavidDate:2011Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:Macroeconomic concepts such as inflation and real economic activity are not directly observed. Researchers often use factor models in order to measure these unobserved concepts. The underlying view is that a small number ...
Title:Dynamic Factors in the Presence of Block Structure
Author(s):HALLIN, Marc; LIŠKA, RomanDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Macroeconometric data often come under the form of large panels of time series, themselves
decomposing into smaller but still quite large subpanels or blocks. We show how the
dynamic factor analysis method proposed in ...
Title:Dynamic Labor Demand in China: Public and private objectives
Author(s):COOPER, Russell; GONG, Guan; YAN, PingDate:2010Type of Publication:Working PaperSeries/Report no.:NBER Working PaperAbstract:This paper studies dynamic labor demand of private and state-controlled manufacturing plants in China. A goal of the paper is to characterize adjustment costs for these plants. As our sample includes private and state-controlled ...