This paper examines German business survey data to uncover the influence of political news on expectations concerning the starting date of the European Monetary Union (EMU). In this survey the participants were asked to indicate whether they expect a punctual or a delayed start of the EMU....

The paper compares two approaches to the estimation of panel probit models: the Generalized Method of Moments (GMM) and the Simulated Maximum Likelihood (SML) technique. Both have in common that they circumvent multiple integrations of joint density functions without the need to impose...

This study examines the causes of the East Asian financial crisis and presents an early warning system based on data from Malaysia, Indonesia, Thailand, Singapore, and Philippines during 1982:1–1998:1 through a panel probit regression model using 20 monthly macroeconomic and financial sector...

This paper moves beyond traditional models of car ownership in that we propose a framework for modeling household-level decisions to acquire specific types and numbers of mobility tools to fulfill the mobility needs of household members. The framework is applied to a data set collected during...

This paper investigates whether firms innovate persistently or discontinuously over time using an innovation panel data set on German manufacturing and service firms for the period 1994–2002. It turns out that innovation behaviour is permanent at the firm–level to a very large extent. Using...