Using conditional quantile regression methods, we test for the existence of a non-linearity in the determinants of capital structure. We show that the size of the firm has a positive impact on the debt-equity ratio for low leverage firms and a negative impact for high leverage firms. Asset...

The need for a proper burial is widely felt. This paper makes use of an original data set to explore the relationship between the prices of cemetery plots and the prices of housing. It considers a simple model where the services from both real estate and funeral homes enter individuals’...

This paper proves that the variability of output over the business cycle can be exacerbated due to the expected inflation effect even in new classical models with fully flexible prices. The authors also consider a variant of Fischer's rational expectations model with overlapping wage contracts....

This paper investigates the distributional implications of debt policy in an overlapping generations model with heterogeneous asset holders. The issue of new debt to be repaid by future taxation redistributes resources amongst agents, even for small degrees of wealth inequality, via its impact...

This article presents an indirect approach to investigate the possible existence of measurement error bias in the harmonized index of consumer prices for the UK and Italy. Our empirical results show that there is no significant evidence of a bias for the UK or for Italy prior to the introduction...