Title:Accounting for the Changing Role of Family Income in Determining College Entry
Author(s):WINTER, ChristophDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Assessing the importance of borrowing constraints for college entry is key for education
policy analysis in the U.S. economy. I present a computable dynamic general
equilibrium model with overlapping generations and ...
Title:Acquisition of Information and Share Prices: An Empirical Investigation of Cognitive Dissonance
Author(s):ARGENTESI, Elena; LUETKEPOHL, Helmut; MOTTA, MassimoDate:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper deals with the determinants of agents’ acquisition of information.
Our econometric evidence shows that the general index of Italian
share-prices and the series of Italy’s financial newspaper sales are ...
Title:Adapting the Litterman prior for cointegrated VARs
Author(s):MARKUN, MichalDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The paper presents a novel prior for Bayesian VAR models, characterized by explicit modelling of cointegration that avoids certain unattractive restrictive properties of the priors used previously. The potential of the ...
Title:The African Financial Development Gap
Author(s):ALLEN, Franklin; CARLETTI, Elena; CULL, Robert; QIAN, Jun 'QJ'; SENBET, LemmaDate:2010-10-01Type of Publication:Working PaperSeries/Report no.:Wharton Financial Institutions CenterAbstract:Economic growth in Africa has long been disappointing. We document that the financial sectors of most sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. We ...
Title:The African Financial Development Gap
Author(s):ALLEN, Franklin; CARLETTI, Elena; CULL, Robert; QIAN, Jun 'QJ'; SENBET, LemmaDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Economic growth in Africa has long been disappointing. We document that the financial sectors of most sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. We ...
Title:The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence
Author(s):MERTENS, Karel; RAVN, Morten O.Date:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We provide empirical evidence on the effects of tax liability changes in the United States. We make a distinction between “surprise” and “anticipated” tax shocks. Surprise tax cuts give rise to a large boom in the economy. ...
Title:“Aggregation Bias” DOES Explain the PPP Puzzle
Author(s):RAVN, Morten O.; REY, Helene; MUMTAZ, Haroon; IMBS, JeanDate:2005Type of Publication:Working PaperSeries/Report no.:NBER Working Paper
Title:Anchors for Inflation Expectations
Author(s):DEMERTZIS, Maria; MARCELLINO, Massimiliano; VIEGI, NicolaDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We identify credible monetary policy with first, a disconnect between inflation and inflation expectations and second, the anchoring of the latter at the inflation target announced by the monetary authorities. We test ...
Title:Approval Quorums Dominate Participation Quorums
Author(s):MANIQUET, François; MORELLI, MassimoDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We study direct democracy with population uncertainty. Voters' participation is often among the desiderata by the election designer. A participation quorum is a threshold on the fraction of participating voters below which ...