Title:A Bartlett Correction Factor for Tests On the Cointegrating Relations
Author(s):JOHANSEN, SorenDate:2000Type of Publication:ArticleAbstract:Likelihood ratio tests for restrictions on cointegrating vectors are asymptotically chi (2) distributed. For some values of the parameters this asymptotic distribution does not give a good approximation to the finite sample ...
Title:A Costly State Verification Model with Diversity of Opinions
Author(s):CARLIER, Guillaume; RENOU, LudovicDate:2005Type of Publication:ArticleAbstract:In simple models of borrowing and lending with ex-post asymmetric information, Gale and Hellwig (1985) and Williamson (1986) have shown that optimal debt contracts are simple debt contracts where borrowers repay a fixed ...
Title:A Functional Coefficient Model View of the Feldstein-Horioka Puzzle
Author(s):HERWARTZ, Helmut; XU, FangDate:2010Type of Publication:ArticleAbstract:What does the saving-investment (SI) relation really measure and how should the SI relation be measured? These are two of the most discussed issues triggered by the so-called Feldstein-Horioka puzzle. Based on panel data ...
Title:A general test for distortions in performance measures
Author(s):COURTY, Pascal; MARSCHKE, GeraldDate:2008Type of Publication:ArticleAbstract:Results from the incentive literature suggest that performance measures are often distorted, eliciting dysfunctional and unintended responses. The existence of these responses, however, is difficult to demonstrate in ...
Title:A Markup Model for Forecasting Inflation for the Euro Area
Author(s):RUSSELL, Bill; BANERJEE, AnindyaDate:2006Type of Publication:ArticleAbstract:We develop a small model for forecasting inflation for the euro area using quarterly data over the period June 1973 to March 1999. The model is used to provide inflation forecasts from June 1999 to March 2002. We compare ...
Title:A Note on Comparative Statics For A Labor-Managed Firm Engaged in Exporting
Author(s):BANIAK, AndrzejDate:2000Type of Publication:ArticleAbstract:The behavior of a labor-managed firm (LMF) producing both for the domestic market and for export is analyzed assuming that it competes with a foreign profit-maximizing firm (PMF) in the export market. Conventional wisdom ...
Title:A Re-Interpretation of the Linear-Quadratic Model When Inventories and Sales Are Polynomially Cointegrated
Author(s):BANERJEE, Anindya; MIZEN, PaulDate:2006Type of Publication:ArticleAbstract:Estimation of the linear quadratic model, the workhorse of the inventory literature, traditionally takes inventories and sales to be first-difference stationary series, and the ratio of the two variables to be stationary. ...
Title:A Semi-Parametric Estimator for Censored Selection Models with Endogeneity
Author(s):LEE, M. J.; VELLA, FrankDate:2006Type of Publication:ArticleAbstract:We propose a semi-parametric least-squares estimator for a censored-selection (type 3 tobit) model under the mean independence of the outcome equation error u from the regressors given the selection indicator and its error ...
Title:A Small Sample Correction for Tests of Hypotheses on the Cointegrating Vectors
Author(s):JOHANSEN, SorenDate:2002Type of Publication:ArticleAbstract:The main purpose of the analysis of the cointegrated VAR model is conducting inference on the cointegrating relations. Asymptotic inference is chi(2), but the asymptotic results are not accurate enough for small samples. ...
Title:A Structured Var For Denmark Under Changing Monetary Regimes
Author(s):JUSELIUS, KatarinaDate:1998Type of Publication:ArticleAbstract:Using recently developed statistical tools for analyzing cointegrated I(2) data, this article models money, income, prices, and interest rates in Denmark. The final model describes the dynamic adjustment to short-run changes ...
Title:A Unique Informationally Efficient and Decentralized Mechanism with Fair Outcomes
Author(s):CALSAMIGLIA, Xavier; KIRMAN, AlanDate:1993Type of Publication:ArticleAbstract:It is shown that any informationally decentralized mechanism that realizes fair allocations over the class of classical pure exchange environments has a message space of dimension no smaller than the number of agents times ...
Title:Abilities, Attitudes, Behaviors and their Effects on Economic Outcomes
Author(s):WEISS, ChristophDate:2011Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:This thesis takes latent variables seriously. It consists of three chapters discussing the determinants of economic success for a British cohort. The evidence presented shows that abilities during childhood and adolescence ...