Browsing ECO Articles by Title

Title: Markets and Contracts Author(s): BISIN, Alberto; GEANAKOPOLS, John; GOTTARDI, Piero; MINELLI, Enrico; POLEMARCHAKIS, Herakles Date: 2011 Type of Publication: Article Abstract: 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 ...

Title: Markov Switching Causality and the Money-Output Relationship Author(s): RAVN, Morten O.; PSARADAKIS, Zacharias; SOLA, Martin Date: 2005 Type of Publication: Article Abstract: The causal link between monetary variables and output is one of the most studied issues in macroeconomics. One puzzle from this literature is that the results of causality tests appear to be sensitive with respect to the ...

Title: Markov-perfect optimal taxation Author(s): ORTIGUEIRA, Salvador Date: 2006 Type of Publication: Article

Title: The Measurement of Growth under Embodied Technical Change Author(s): LICANDRO, Omar; RUIZ-CASTILLO, Javier; DURAN, Jorge Date: 2002 Type of Publication: Article

Title: Mechanism Design with Interdependent Valuations: Efficiency Author(s): MEZZETTI, Claudio Date: 2004 Type of Publication: Article

Title: Mergers and national champions Author(s): MOTTA, Massimo; RUTA, Michele Date: 2008 Type of Publication: Article Abstract: The suspicion that national governments were in various forms promoting or defending domestic national champions (or discouraging foreign ones) arose in a long list of recent merger cases. This paper provides an analysis ...

Title: MIDAS vs. Mixed-Frequency VAR: Nowcasting GDP in the Euro Area Author(s): KUZIN, Vladimir; MARCELLINO, Massimiliano; SCHUMACHER, Christian Date: 2011 Type of Publication: Article Abstract: This paper compares the mixed-data sampling (MIDAS) and mixed-frequency VAR (MF-VAR) approaches to model specification in the presence of mixed-frequency data, e.g. monthly and quarterly series. MIDAS leads to parsimonious ...

Title: The mixed blessing of IMF intervention: Signalling versus liquidity support Author(s): ZWART, Sanne Date: 2007 Type of Publication: Article Abstract: Although IMF support is supposed to benefit a country, it might be bad news that the IMF believes intervention is necessary. This paper analyzes a bank run model in which both the liquidity effect and the signalling effect ...

Title: Model Selection for Nested and Overlapping Nonlinear Dynamic and Possibly Mis-specified Models Author(s): MARCELLINO, Massimiliano; ROSSI, Barbara Date: 2008 Type of Publication: Article

Title: Modeling and Forecasting Exchange-Rates With a Bayesian Time-Varying Coefficient Model Author(s): CANOVA, Fabio Date: 1993 Type of Publication: Article Abstract: This paper employs a multivariate Bayesian time-varying coefficients (TVC) approach to model and forecast exchange rate data. It is shown that, if used as a data-generating mechanism, a TVC model induces nonlinearities in ...

Title: Modeling and Forecasting Stock Return Volatility Using a Random Level Shift Model Author(s): LU, Yang K.; PERRON, Pierre Date: 2010 Type of Publication: Article Abstract: We consider the estimation of a random level shift model for which the series of interest is the sum of a short-memory process and a jump or level shift component. For the latter component, we specify the commonly used ...

Title: Modelling of Cointegration in the Vector Autoregressive Model Author(s): JOHANSEN, Soren Date: 2000 Type of Publication: Article Abstract: A survey is given of some results obtained for the cointegrated VAR. The Granger representation theorem is discussed and the notions of cointegration and common trends are defined. The statistical model for cointegrated ...

Title: Modelling Shifts in the Wage-Price and Unemployment-Inflation Relationships in Italy, Poland and the Uk Author(s): MARCELLINO, Massimiliano; MIZON, Grayham E. Date: 2000 Type of Publication: Article Abstract: The relationship between wages, prices, productivity, inflation and unemployment in Italy, Poland, and the UK between the 1960s and the early 1990s is modelled as a cointegrated vector autoregression subject to regime ...

Title: Modelling Structural Breaks, Long Memory and Stock Market Volatility: an Overview Author(s): BANERJEE, Anindya; URGA, Giovanni Date: 2005 Type of Publication: Article

Title: Modelling Vintage Structures with DDEs: Principles and Applications Author(s): LICANDRO, Omar; BOUCEKKINE, Raouf; DE LA CROIX, David Date: 2004 Type of Publication: Article

Title: A modern reconsideration of the theory of Optimal Currency Areas Author(s): CORSETTI, Giancarlo Date: 2008 Type of Publication: Article Abstract: What can be learnt from revisiting the Optimal Currency Areas (OCA) theory 50 years from its birth, in light of recent advances in open economy macro and monetary theory? This paper presents a stylized micro-founded model ...

Title: Monetary Targeting in the Netherlands - An Application of Cointegration Tests Author(s): CESAR, Herman S. J.; DE HAAN, Jakob; JACOBS, Jan Date: 1990 Type of Publication: Article

Title: Monetary-Theory and Roman History Author(s): DE CECCO, Marcello Date: 1985 Type of Publication: Article

Title: Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries Author(s): CARSTENSEN, Kai; HAGEN, Jan; HOSSFELD, Oliver; NEAVES, Abelardo Salazar Date: 2009 Type of Publication: Article Abstract: In this paper, we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain ...

Title: More Equal but Less Mobile?: Education Financing and Intergenerational Mobility in Italy and in the US Author(s): ICHINO, Andrea; CHECCHI, Daniele; RUSTICHINI, Aldo Date: 1999 Type of Publication: Article Abstract: A centralised and egalitarian school system reduces the cost of education for poor families, and so it should reduce income inequality and make intergenerational mobility easier. In this paper we provide evidence that ...

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