Showing 1 - 10 of 566
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011555532
In this paper we investigate optimal harvesting of a renewable natural resource. While in the standard approach the resource is located at a single point in space we allow for the resource to be distributed over the plane. Consequently, an agent who exploits the resource has to travel from one...
Persistent link: https://www.econbiz.de/10010290761
We estimate by means of indirect inference a structural economic model where firms' exit and investment decisions are the solution to a discrete-continuous dynamic programming problem. In the model the exit probability depends on the current capital stock and a measure of short-run...
Persistent link: https://www.econbiz.de/10010480899
. However, perverse market timing manifests itself mainly in female managed funds and in the left tail of the returns …
Persistent link: https://www.econbiz.de/10010317013
how capital tax uncertainty affects investment timing. However, it is well known that both uncertainty and capital tax may … be harmful for investment and decelerate investment activities. We are the first to study the investment timing effects … base or increasing the capital tax rate induces ambiguous timing effects. Furthermore, high-growth investments are likely …
Persistent link: https://www.econbiz.de/10011522546
Merged firms are typically rather complex organizations. Accordingly, merger has a more profound effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The...
Persistent link: https://www.econbiz.de/10010315137
What role does the selection of an investor and the timing of financing play in initial coin offerings (ICOs)? We …
Persistent link: https://www.econbiz.de/10014355191
This paper investigates how the heterogenous incomes and preferences of potential donors affect the timing of … endogenous choices of contribution timing and the level of the voluntary supplied public goods. This paper obtains the following … results. First, when income is extremely unequal, potential contributors are indifferent between the timing choices of …
Persistent link: https://www.econbiz.de/10012892149
In this paper we revisit the evidence on the effects of time spent on border-crossing procedures for international trade using a theory-consistent structural gravity model. We exploit a rich panel data set including domestic trade flows and employ a recent econometric estimator that exhibits...
Persistent link: https://www.econbiz.de/10012892158
Daylight Saving Time (DST) is currently implemented by more than seventy countries, yet we do not have a clear knowledge of how it affects individuals’ welfare. Using a regression discontinuity design combined with a differences-in-differences approach, we find that the Spring DST causes a...
Persistent link: https://www.econbiz.de/10013218293