Title:Liberalizing the Intra-Ec Long-Distance Market - Promoting Competition in Basic Telephone Services
Author(s):STEHMANN, OliverDate:1991Type of Publication:ArticleAbstract:The road towards competition in telecommunications services has been quite different in the USA and the European Community. The former has pursued a policy of network fragmentation and network competition. In contrast, ...
Title:Likelihood Analysis of Seasonal Cointegration
Author(s):JOHANSEN, Soren; SCHAUMBURG, ErnstDate:1999Type of Publication:ArticleAbstract:The error correction model for seasonal cointegration is analyzed. Conditions are found under which the process is integrated of order I and cointegrated at seasonal frequency, and a representation theorem is given. The ...
Title:Likelihood Analysis of the I(2) Model
Author(s):JOHANSEN, SorenDate:1997Type of Publication:ArticleAbstract:The I(2) model is defined as a submodel of the general vector autoregressive model, by two reduced rank conditions. The model describes stochastic processes with stationary second difference. A parametrization is suggested ...
Title:A Linear Benchmark for Forecasting GDP Growth and Inflation?
Author(s):MARCELLINO, MassimilianoDate:2008-01-01Type of Publication:ArticleAbstract:Predicting the future evolution of GDP growth and inflation is a central concern in economics. Forecasts are typically produced either from economic theory-based models or from simple linear time series models. While a ...
Title:Liquidity Runs with Endogenous Information Acquisition
Author(s):ZWART, SanneDate:2008Type of Publication:ArticleAbstract:This paper analyzes a liquidity run model in which investors strategically acquire private information. The availability of information can eliminate the multiplicity typical for models without private information. Even ...
Title:The Long-Run Educational Cost of World War II
Author(s):ICHINO, Andrea; WINTER-EBMER, RudolfDate:2004Type of Publication:ArticleAbstract:An important component of the long-run cost of a war is the loss of human capital suffered by school-age children who receive less education. Austrian and German individuals who were 10 years old during the conflict, or ...
Title:Lower and Upper Bounds of Returns to Schooling: An exercise in IV Estimation with Different Instruments
Author(s):ICHINO, Andrea; WINTER-EBMER, RudolfDate:1999Type of Publication:ArticleAbstract:Several recent studies based on exogenous' sources of variation in educational outcomes show IV estimates of returns to schooling that are substantially higher than the corresponding OLS estimates. Card (1995a, Earnings, ...
Title:LSM: A DSGE model for Luxembourg
Author(s):DEÁK, Szabolcs; FONTAGNÉ, Lionel; MAFFEZZOLI, Marco; MARCELLINO, MassimilianoDate:2011Type of Publication:ArticleAbstract:Luxembourg is a small open economy with a set of particular features, including rather limited competition in the domestic goods market, strong union power, and a segmented labor market for resident and non-resident workers. ...
Title:Macroeconomics of Subsistence Points
Author(s):RAVN, Morten O.; SCHMITT-GROHE, Stephanie; URIBE, MartinDate:2008Type of Publication:ArticleAbstract:This paper explores the macroeconomic consequences of preferences displaying a subsistence point. It departs from the existing related literature by assuming that subsistence points are specific to each variety of goods ...
Title:Making Government Accountable: Lessons from a Federal Job Training Program
Author(s):COURTY, Pascal; MARSCHKE, GeraldDate:2007Type of Publication:ArticleAbstract:This article describes the evolution of a performance measurement system in a government job training program. In this program, a federal agency establishes performance measures and standards for substate agencies. The ...
Title:Mark-to-market Accounting and Liquidity Pricing
Author(s):CARLETTI, Elena; ALLEN, FranklinDate:2008Type of Publication:ArticleAbstract:When liquidity plays an important role as in financial crises, asset prices may reflect the amount of liquidity available rather than the asset's future earning power. Using market prices to assess financial institutions’ ...
Title:Market regulation and firm performance : the case of smoking bans in the United Kingdom
Author(s):ADDA, Jérôme; BERLINSKI, Samuel; MACHIN, StephenDate:2012Type of Publication:ArticleAbstract:This paper analyzes the effects on firms of a ban on smoking in public places. Our empirical strategy relies on comparing outcomes in Scotland before and after the Scottish smoking ban (introduced in March 2006) with those ...
Title:Markets and Contracts
Author(s):BISIN, Alberto; GEANAKOPOLS, John; GOTTARDI, Piero; MINELLI, Enrico; POLEMARCHAKIS, HeraklesDate:2011Type of Publication:ArticleAbstract:Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium that does not require an explicit modeling of private information. Sellers have discretion over deliveries ...