Inferences about the coefficient values of a model estimated with a linear regression cannot be made when both the dependent and the independent variable are part of an accounting (semi) identity. The coefficients will no longer indicate a causal relation as they must adapt to satisfy the...

This paper provides an empirical test of the Fisher effect and of the real interest parity. The objetive is to determinate the behavior of the ex-ante real interest that condicionate the intertemporal savings and investment decisions. The method used is the time series properties of the data,...

This paper investigates whether threshold effects exist in the relationship between dollar-euro real exchange rate and real interest differential, over the period January 1984 to December 2004. We specify a three-regime threshold model and the results provide evidence that there is no threshold...

Research has shown that more than half of attempted recovery efforts fail, producing a "double deviation" effect. Surprisingly, these double deviation effects have received little attention in marketing literature. This paper examines what happens after these critical encounters, which behavior...

This paper analyzes the determinants of the corporate cash holding for a sampleof companies listed in the Spanish stock market. The results show that the firms have acorporate cash holding target level, and that this level is greater in companies withgreater cash flows. On the other hand, cash...

This paper addresses the incorporation of in-kind public transfers in the studies on income and welfare distribution. More precisely, we focus on the analysis of the effect the inclusion of public education has on income distribution. Therefore, we've added the estimated value of public...