This paper analyses fluctuations in the economic efficiency in 15 European countries over more than a period of three decades, between 1970s and 2000s, using movements in the wedge between the marginal rate of substitution between leisure and consumption, and the marginal product of labour as a...

This paper offers an alternative method for modelling bond risk premia for a panel of corporate bond yields using a daily data set for 48 corporate bonds of utilities industry over four years. This is done by using proxies for default, liquidity and interest rate factors that we get employing...

Asymmetric volatility is a widely encountered concept particularly in financial series. It refers to the case that "bad news" generates more volatility than "good news" of equal magnitude. In an inflationary environment "bad news" is disclosed as increasing inflation that is expected to generate...

This paper uses micro-data from the Reserve Bank of New Zealand’s Household Inflation Expectations survey to obtain a more accurate read of households’ true inflation expectations by understanding how different demographic groups respond (or do not respond) to specific questions in the...