type="main" xml:id="obes12041-abs-0001" <title type="main">Abstract</title> <p>We propose a new methodology for ranking in probability the commonly proposed drivers of inflation in the new Keynesian model. The approach is based on Bayesian model selection among restricted vector autoregressive (VAR) models, each of which...</p>

type="main" xml:id="obes12044-abs-0001" <title type="main">Abstract</title> <p>The objective of our study is to identify patterns and causes of households' transitions into and out of poverty using the long household panel data on rural China in 1989–2009. We propose a discrete-time multi-spell duration model that not only...</p>

type="main" xml:id="obes12042-abs-0001" <p>We examine the impact of job loss on entrepreneurship behaviour. Our identification strategy relies on the use of mass layoffs caused by bankruptcies as indicators of exogenous displacement. Building on Norwegian register data, we find that working in a...</p>

type="main" xml:id="obes12048-abs-0001" <title type="main">Abstract</title> <p>Cross-section regressions often examine many candidate regressors. We use multiple testing procedures (MTPs) controlling the false discovery rate (FDR) — the expected ratio of false to all rejections — so as not to erroneously select variables...</p>

type="main" xml:id="obes12045-abs-0001" <title type="main">Abstract</title> <p>Using a unique panel data set of art auctions on eBay, we conduct an empirical analysis of the impact of charity status on the outcome of an auction and find it to be substantial. Charity status increases the probability of sale by 46%, the...</p>

type="main" xml:id="obes12037-abs-0001" <title type="main">Abstract</title> <p>In this article, we consider estimating the timing of a break in level and/or trend when the order of integration and autocorrelation properties of the data are unknown. For stationary innovations, break point estimation is commonly performed by...</p>

type="main" xml:id="obes12038-abs-0001" <title type="main">Abstract</title> <p>We investigate the possible existence of asymmetries among Euro Area countries reactions to the European Central Bank monetary policy. Our analysis is based on a Structural Dynamic Factor model estimated on a large panel of Euro Area quarterly...</p>

type="main" xml:id="obes12047-abs-0001" <title type="main">Abstract</title> <p>We perform a fully real-time nowcasting (forecasting) exercise of US GDP growth using Giannone et al.'s (2008) factor model framework. To this end, we have constructed a real-time database of vintages from 1997 to 2010 for a panel of variables,...</p>

type="main" xml:id="obes12040-abs-0001" <title type="main">Abstract</title> <p>Thin-capitalization rules (TCRs) aim at limiting the tax advantage of internal debt financing by restricting the tax deductibility of the corresponding interest expenses. This article examines how subsidiaries of multinational firms respond to a...</p>

type="main" xml:id="obes12036-abs-0001" <title type="main">Abstract</title> <p>We quantify the impact of government spending shocks in the US. Thereby, we control for fiscal foresight, a specific limited information problem (LIP) by utilizing the narrative approach. Moreover, we surmount the generic LIP inherent in vector...</p>