Search Results - Business Economics

Identifying Fiscal Policy (In)effectiveness from the Differential Counter-Cyclicality of Government Spending in the Interwar Period

Martineau, Nicolas-Guillaume; Smith, Gregor W. - Economics Department, Queen's University - 2014

Differences across decades in the counter-cyclical stance of fiscal policy can identify whether the growth in government spending affects output growth and so speeds recovery from a recession. We study government-spending reaction functions from the 1920s and 1930s for twenty countries. There...

A monthly stock exchange index for Ireland, 1864-1930

O'Rourke, Kevin Hjortshøj; Grossman, Richard S.; Ursu, … - Department of Economics, Oxford University - 2013

Information on the performance of equities during the latter part of the globalized long nineteenth century is scarce, particularly for smaller European economies such as Ireland. Using a dataset of over 35,000 price-year observations from the Investor's Monthly Manual, this paper constructs...

Economics of Corporate Form: Why Do Russian Firms Prefer to Be Closed Companies?

Iwasaki, Ichiro - Russian Research Center, Institute of Economic Research - 2013

In Russia, an overwhelming number of joint-stock companies (JSCs) choose to become closed companies despite the fact that this corporate form strays far from the primary nature of stock companies. Using the results of a Japan-Russia joint enterprise survey conducted in 2005, we examine a variety...

Deviant Generations, Ricardian Equivalence, and Growth Cycles

Barnett, Richard C.; Bhattacharya, Joydeep; Bunzel, Helle - Department of Economics, Iowa State University - 2013

TTwo equilibrium possibilities are known to obtain in a standard overlapping-generations model with dynastic preferences: either the altruistic bequest motive is operative for every generation (in which case, Ricardian equivalence obtains) or it is not, for any generation. Dynamic equilibria,...

Search, Liquidity and the Dynamics of House Prices and Construction

Head, Allen; Lloyd-Ellis, Huw; Sun, Hongfei - Economics Department, Queen's University - 2012

We characterize the dynamics of relative house prices, housing sales, construction rates and population growth in response to city-specific income shocks for 106 US cities. We then develop a dynamic search model of the housing market in which construction, the entry of buyers, house prices and...

Saving lives: Evidence from a conditional food supplementation program

Litschig, Stephan; Meller, Marian - Department of Economics and Business, Universitat … - 2012

Many governments in developing countries implement programs that aim to address nutrional failures in early childhood, yet evidence on the effectiveness of these interventions is scant. This paper evaluates the impact of a conditional food supplementation program on child mortality in Ecuador....

How responsive are people to changes in their bargaining position? Earned bargaining power and the 50–50 norm

Anbarci, Nejat; Feltovich, Nick - Deakin University, Faculty of Business and Law, School … - 2012

Previous research has shown that individuals do not respond to changes in their bargaining position to the extent predicted by standard bargaining theories. Most of these results come from experiments with bargaining power allocated exogenously, so that individuals may perceive it as having been...

Forecasting Value-at-Risk Using Block Structure Multivariate Stochastic Volatility Models

Asai, Manabu; Caporin, Massimiliano; McAleer, Michael - Department of Economics and Finance, College of … - 2012

Most multivariate variance or volatility models suffer from a common problem, the “curse of dimensionality”. For this reason, most are fitted under strong parametric restrictions that reduce the interpretation and flexibility of the models. Recently, the literature has focused on...

Does the Business Environment Affect Corporate Investment in India?

Tokuoka, Kiichi - International Monetary Fund (IMF) - 2012

investment but that they do not appear to account fully for recent weak performance, suggesting a key role of the business … environment in reviving corporate investment. Analysis of micro panel data suggests that improving the business environment by … reducing costs of doing business, improving financial access, and developing infrastructure, could stimulate corporate …

Free entry, regulatory competition, and globalization

Miyagiwa, Kaz; Sato, Yasuhiro - Graduate School of Economics, Osaka University - 2012

This paper examines the optimal entry policy towards oligopoly in an globalized world. In an open economy free entry is socially suboptimal, but corrective tax policy to curb entry proves insufficient unless internationally harmonized. Thus, while conferring the gains from trade, globalization...