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these linked bubbles primarily focus on the irrationality of investor speculation and the corresponding stock price behavior … examine a broad cross-section of security price data to evaluate the causes of the bubbles. Using newly collected stock prices … in 1720. Our findings are consistent with the hypothesis that financial bubbles require a plausible story to justify …
Persistent link: https://www.econbiz.de/10012463318
We ask whether stock returns in France, Germany, Japan, the UK and the US are predictable by three instruments: the dividend yield, the earnings yield and the short rate. The predictability regression is suggested by a present value model with earnings growth, payout ratios and the short rate as...
Persistent link: https://www.econbiz.de/10012470517
A pre-specified set of nine prominent U.S. equity return anomalies produce significant alphas in Canada, France, Germany, Japan, and the U.K. All of the anomalies are consistently significant across these five countries, whose developed stock markets afford the most extensive data. The anomalies...
Persistent link: https://www.econbiz.de/10012453902
Several studies based on US and UK data have used market value as an indicator of the firm''s expected R&D performance. However, there exist no investigations for the continental countries in the European Union, partly because the analysis is complicated by data availability problems. In this...
Persistent link: https://www.econbiz.de/10012468285
We evaluate the impact of government mandated proof of vaccination requirements for access to public venues and non-essential businesses on COVID-19 vaccine uptake. We find that the announcement of a mandate is associated with a rapid and significant surge in new vaccinations (more than 60\%...
Persistent link: https://www.econbiz.de/10012794591
The rapid growth of derivative markets has raised concerns about counterparty risk. It has been argued that their mutual guarantee funds provide an adequate safety net. While this mutualization of risk protects clients and brokers from idiosyncratic shocks, it is generally assumed that it also...
Persistent link: https://www.econbiz.de/10012465723
Due to its overwhelming significance among taxes on earnings in the agricultural and forestry sector, the analyses are primarily concentrated on the international comparison of effective income tax burden in the selected EU Member States as well as Canada, the United States and Japan. In this...
Persistent link: https://www.econbiz.de/10011698365
Das ifo Institut untersuchte im Auftrag der Bundesanstalt für Landwirtschaft und Ernährung (BLE) die Besteuerung bestimmter Produktionsmittel in ausgewählten EU-Mitgliedstaaten. Neben einem steuerrechtlichen Teil, in dem die unterschiedlichen Regelungen in den einzelnen Ländern dargelegt...
Persistent link: https://www.econbiz.de/10011698377
In allen OECD-Ländern sind die Geburtenraten in den letzten vierzig Jahren erheblich gesunken. Trotz dieses gemeinsamen Trends kann aber sowohl in der zeitlichen Entwicklung als auch im aktuellen Stand des Geburtenverhaltens eine erhebliche Heterogenität beobachtet werden. Deutschland, Spanien...
Persistent link: https://www.econbiz.de/10011698383
The present study reports on results emerging from the research project «Fertility and Prosperity: Links between Demography and Growth» that was commissioned to the Ifo Institute by Deutscher Arbeitskreis für Familienhilfe e.V., Kirchzarten, in December 2003. The study adopts a two-stage...
Persistent link: https://www.econbiz.de/10011698397