Showing 1 - 10 of 84
pricing-to-market. After the end of the first year, we find the traditional result where the increase in the American interest …
Persistent link: https://www.econbiz.de/10008790871
Recent studies on general equilibrium models with transaction costs show that the dynamics of the real exchange rate are necessarily nonlinear. Our contribution to the literature on nonlinear price adjustment mechanisms is threefold. First, we model the real exchange rate by a Multi-Regime...
Persistent link: https://www.econbiz.de/10010899153
Using methods from machine learning - adaptive sequential ridge regression with discount factors - that prevent overfitting in-sample for better and more stable forecasting performance out-of-sample we show that fundamentals from the PPP, UIRP and monetary models consistently improve the...
Persistent link: https://www.econbiz.de/10010899931
Since the late nineties, both theoretical and empirical analysis devoted to the real exchange rate suggest that their dynamics might be well approximated by nonlinear models. This paper examines this possibility for post-1970 monthly ASEAN-5 data, extending the existing research in two...
Persistent link: https://www.econbiz.de/10010540567
equilibrium on the international assets market may exist but not on the international goods market. Our purpose in this paper is … international good market. More precisely, we focus on the link between no-arbitrage, equilibrium and PPP. At equilibrium, assets … markets must clear and international goods market balance. In particular, equilibrium goods prices respect the PPP. …
Persistent link: https://www.econbiz.de/10010603675
The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 developed and developing countries. We find that strong...
Persistent link: https://www.econbiz.de/10008791812
the retrospective and prospective view of the orphan drugs market in Europe (history, regulations, epidemiology, economic … du marché des médicaments orphelins en Europe (histoire, règlementation, épidémiologie, modèle économique, monopole, prix … model, monopoly, pricing, size / cover / limits of the market) ? …
Persistent link: https://www.econbiz.de/10010630686
In this paper we use data on French export prices at the disaggregated firm and product level to evaluate the effect of economic integration on price convergence. We use the European integration ‘experiment' and firm-level data on export prices to distinguish between two possible margins of...
Persistent link: https://www.econbiz.de/10008793459
principle. Although scarcity and its consequences for market economies are key aspects of mainstream economics, they have been … institutionally created. This type of scarcity encourages the process of market collectivization and empowers those generating it. The …
Persistent link: https://www.econbiz.de/10010821497
State governance as well as market governance limits paved the way to emerging form of hybrid governance, based on … System in Madagascar. Despite several domestic and international crises, domestic market stability has improved and … production growth has accelerated. These positive results cannot be directly related to these new devices. But a regular market …
Persistent link: https://www.econbiz.de/10011025545