Showing 1 - 10 of 45
This paper makes three contributions to our understanding of the price discovery process in currencymarkets. First, it provides evidence that this process cannot be the familiar one based on adverse selectionand customer spreads, since such spreads are inversely related to a trade’s likely...
Persistent link: https://www.econbiz.de/10005867482
Price comparison services are being used by more and more internet users worldwide tocompare prices of (online-)suppliers. The characteristics of price comparison services differinternationally. Not only are they different in the reference to their scope of work. Also with regard tothe technical...
Persistent link: https://www.econbiz.de/10005867595
We study the relationship between foreign exchange trading activity and volatility on theUSD/EUR foreign exchange market on the basis of a unique data set around the events of09/11/2001. We find that volatility and bid-ask spreads are by far larger at that time, but theshock is not persistent....
Persistent link: https://www.econbiz.de/10005867597
The rational prodigality argument, which often serves to justify social security,is considered in a second-best tax framework with endogenous labor supply. Rationalprodigality renders the familiar policies time inconsistent. We analyze time consistentpolicies and show that a wage tax suffices to...
Persistent link: https://www.econbiz.de/10005867641
We use a long panel data set for four entry cohorts into an internal labor market toanalyze the effect of age on the probability to participate in different training measures.We find that training participation probabilities are inverted u-shaped with age and thatlonger training measures are...
Persistent link: https://www.econbiz.de/10005870739
The use of technical analysis by financial market professionals is not well understood. Thispaper thus analyzes survey evidence from 692 fund managers in five countries, the vast majorityof whom rely on technical analysis. At a forecasting horizon of weeks, technical analysis isthe most...
Persistent link: https://www.econbiz.de/10005870741
We consider a recently proposed class of nonlinear time series models and focus mainly onmisspecification testing for models of such type. Following the modeling cycle for nonlineartime series models of specification, estimation and evaluation we first treat how to choosean adequate transition...
Persistent link: https://www.econbiz.de/10005870742
In ESTAR models it is usually dfficult to determine parameter estimates, as it can be observedin the literature. We show that the phenomena of getting strongly biased estimators is aconsequence of the so-called identication problem, the problem of properly distinguishing thetransition function...
Persistent link: https://www.econbiz.de/10005870744
This study provides a unied growth theory to correctly predictthe initially negative and subsequently positive relationship between child mortalityand net reproduction observed in industrialized countries over the courseof their demographic transitions. The model captures the intricate...
Persistent link: https://www.econbiz.de/10005870762
This paper theoretically investigates how community approval or disapprovalaects school attendance and child labor and how aggregate behavior of thecommunity feeds back towards the formation and persistence of an anti- (or pro-)schooling norm. The proposed community-model continues to take...
Persistent link: https://www.econbiz.de/10005870765