Showing 1 - 9 of 9
Persistent link: https://www.econbiz.de/10005207506
Theory suggests a negative relationship between disclosure and the cost of capital. However, empirical research has not, in general, confirmed this. In particular, <link rid="b6">Botosan (1997)</link> finds no evidence of a negative relationship for firms with a high analyst following, and moreover, <link rid="b7">Botosan and...
Persistent link: https://www.econbiz.de/10005312567
This article identifies the best models for forecasting the volatility of daily exchange returns of developing countries. An emerging consensus in the recent literature focusing on industrialized countries has noted the superior performance of the Fractionally Integrated Generalized...
Persistent link: https://www.econbiz.de/10010760610
Persistent link: https://www.econbiz.de/10005625919
In their empirical analysis of Real Business Cycle models for the UK, Holland and Scott (1998) find that they cannot reject the proposition that movements in output are largely determined by 'productivity shocks' which are independent of demand side variables, such as interest rates. In this...
Persistent link: https://www.econbiz.de/10008852307
New trade theory suggests that improvements in the variety and quality of products may be as important as price competitiveness as an explanation of trade flows. This paper tests this proposition for export volumes for the G7 using relative cumulated investment as a proxy for innovation....
Persistent link: https://www.econbiz.de/10008852348
The Fundamental Equilibrium Exchange Rate (FEER) method of calculating an equilibrium real exchange rate is the most widely used alternative to PPP. This paper presents the first comprehensive historical test of FEER calculations for six major economies, using estimates for the last twenty...
Persistent link: https://www.econbiz.de/10008852351
The Fiscal Stability Pact for EMU suggests that constraints on fiscal policy are thought by policy makers to be necessary to ensure that the independent European central bank can control inflation. In this paper we examine the interrelationship between monetary and fiscal policy when both follow...
Persistent link: https://www.econbiz.de/10008852366
The four papers which follow were written for a conference organised by the National Institute on 24 February. The papers draw on some of the major developments in macroeconomic research and policy appraisal at the Institute over the last two or three years. Particular emphasis is placed on the...
Persistent link: https://www.econbiz.de/10010627988