Search Results - subject:"Partial Adjustment Models"

Rational habits in residential electricity demand

Filippini, Massimo; Hirl, Bettina; Masiero, Giuliano - 2016

Dynamic partial adjustment models of residential electricity demand account for the fact that households may not adjust …

Persistent link: https://www.econbiz.de/10011753292

Partial Adjustment Toward Equilibrium Mutual Fund Allocations: Evidence from U.S.-based Equity Mutual Funds

Hassan, M. Kabir; Hippler III, William J. - Networks Financial Institute, Scott College of Business - 2014

Mutual fund managers face increasing competition and have incentives to quickly reallocate their portfolios in order to achieve the best risk-adjusted return. However, portfolio allocation is costly, as trading, administrative, and information costs all lower returns after management fees....

Persistent link: https://www.econbiz.de/10010817370

A yield spread perspective on the great financial crisis: Break-point test evidence

Guidolin, Massimo; Tam, Yu Man - 2010

We use a simple partial adjustment econometric framework to investigate the effects of the crisis on the dynamic properties of a number of yield spreads. We find that the crisis has caused substantial disruptions revealed by changes in the persistence of the shocks to spreads as much as by in...

Persistent link: https://www.econbiz.de/10010285861

Evolution of capital structure in East Asia: corporate inertia or endeavours?

Driffield, Nigel; Pal, Sarmistha - 2008

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

Persistent link: https://www.econbiz.de/10010268733

Evolution of Capital Structure in East Asia: Corporate Inertia or Endeavours?

Driffield, Nigel; Pal, Sarmistha - Institute for the Study of Labor (IZA) - 2008

dynamics, partial adjustment models, firm- and time-varying speed, generalised methods of moments, inertia and endeavours … (1984), we extend theses conventional models and estimate partial adjustment models with (a) firm-specific and (b) firm …- and time- varying speeds of adjustment. 3.1. Partial adjustment models Let the optimal leverage of a firm i at time …

Persistent link: https://www.econbiz.de/10005566540

Unit Roots and the Demand for Cigarettes in Turkey: Pitfalls and Possibilities

Juselius, Katarina - Økonomisk Institut, Københavns Universitet - 2001

The partial adjustment model for cigarette demand in Tansel (1993) is formulated as a restriction on the more general VAR model. The question whether the Tansel estimation results are spurious as claimed by Cameron and Collins (1998) is addressed in this framework. The role of intervention...

Persistent link: https://www.econbiz.de/10005225475