Showing 1 - 10 of 41
This paper studies the signalling effect of the consumption-wealth ratio (cay) on German stock returns via vector error correction models (VECMs). The effect of cay on U.S. stock returns has been recently confirmed by Lettau and Ludvigson with a two-stage method. In this paper, performances of...
Persistent link: https://www.econbiz.de/10002633392
This paper studies the signalling effect of the consumption-wealth ratio (cay) on German stock returns via vector error correction models (VECMs). The effect of cay on U.S. stock returns has been recently confirmed by Lettau and Ludvigson with a two-stage method. In this paper, performance of...
Persistent link: https://www.econbiz.de/10013154587
Persistent link: https://www.econbiz.de/10001388900
Persistent link: https://www.econbiz.de/10013360835
Persistent link: https://www.econbiz.de/10000168630
Persistent link: https://www.econbiz.de/10003938662
The introduction of hospital reimbursement based on diagnosis related groups (DRG) in 2004 has been a conspicuous attempt to increase hospital efficiency in the German health sector. In this paper changes of hospital efficiency, quantified as a Malmquist index decomposition in pure technical...
Persistent link: https://www.econbiz.de/10008902422
Persistent link: https://www.econbiz.de/10008908611
We consider the problem of ex-ante forecasting conditional correlation patterns using ultra high frequency data. Flexible semiparametric predictors referring to the class of dynamic panel and dynamic factor models are adopted for daily forecasts. The parsimonious set up of our approach allows to...
Persistent link: https://www.econbiz.de/10003516408
Persistent link: https://www.econbiz.de/10009578563