All Outputs (628)

The impact of the initial condition on covariate augmented unit root tests (2016)
Journal Article
Aristidou, C., Harvey, D. I., & Leybourne, S. J. (2016). The impact of the initial condition on covariate augmented unit root tests. Journal of Time Series Econometrics, 9(1), https://doi.org/10.1515/jtse-2015-0013

We examine the behaviour of OLS-demeaned/detrended and GLS-demeaned/detrended unit root tests that employ stationary covariates, as proposed by Hansen (1995, “Rethinking the Univariate Approach to Unit Root Testing.” Econometric Theory 11:1148–71) an... Read More about The impact of the initial condition on covariate augmented unit root tests.

Intrinsic honesty and the prevalence of rule violations across societies (2016)
Journal Article
Gaechter, S., & Schulz, J. (2016). Intrinsic honesty and the prevalence of rule violations across societies. Nature, 531(7595), https://doi.org/10.1038/nature17160

Deception is common in nature and humans are no exception. Modern societies have created institutions to control cheating, but many situations remain where only intrinsic honesty keeps people from cheating and violating rules. Psychological, sociolog... Read More about Intrinsic honesty and the prevalence of rule violations across societies.

State history, historical legitimacy and modern ethnic diversity (2016)
Journal Article
Bleaney, M., & Dimico, A. (2016). State history, historical legitimacy and modern ethnic diversity. European Journal of Political Economy, 43, https://doi.org/10.1016/j.ejpoleco.2016.03.001

How much does the antiquity of states, and the sometimes arbitrary nature of colonial boundaries, explain the modern degree of theory of ethnic diversity and income disthnic diversity? It is shown that states with greater historical legitimacy (more... Read More about State history, historical legitimacy and modern ethnic diversity.

Tullock contests may be revenue superior to auctions in a symmetric setting (2016)
Journal Article
Matros, A., & Possajennikov, A. (2016). Tullock contests may be revenue superior to auctions in a symmetric setting. Economics Letters, 142, https://doi.org/10.1016/j.econlet.2016.03.003

We consider a symmetric two-player common-value setting where each player gets a private signal about the object value. We show that for some parameter values the equilibrium revenue can be higher in a Tullock contest than in the standard auctions.

A test for risk-averse expected utility (2016)
Journal Article
Chambers, C. P., Liu, C., & Martinez, S.-K. (2016). A test for risk-averse expected utility. Journal of Economic Theory, 163, 775-785. https://doi.org/10.1016/j.jet.2016.03.002

We provide a universal condition for rationalizability by risk-averse expected utility preference in a demand-based framework with multiple commodities. Our test can be viewed as a natural counterpart of a classical test of expected utility, due to F... Read More about A test for risk-averse expected utility.

Norm elicitation in within-subject designs: testing for order effects (2016)
Journal Article
D’Adda, G., Drouvelis, M., & Nosenzo, D. (2016). Norm elicitation in within-subject designs: testing for order effects. Journal of Behavioral and Experimental Economics, 62, https://doi.org/10.1016/j.socec.2016.02.003

We investigate norms of corruption using the norm-elicitation procedure introduced by Krupka and Weber (2013). We use a within-subject design whereby the norms are elicited from the same subjects who are observed making choices in a bribery game. We... Read More about Norm elicitation in within-subject designs: testing for order effects.

A representation theorem for guilt aversion (2016)
Journal Article
Jensen, M. K., & Kozlovskaya, M. (2016). A representation theorem for guilt aversion. Journal of Economic Behavior and Organization, 125, 148-161. https://doi.org/10.1016/j.jebo.2016.02.001

Guilt aversion has been shown to play an important role in economic decision-making. In this paper, we take an axiomatic approach to guilt by deducing a utility representation from a list of easily interpretable assumptions on an agent's preferences.... Read More about A representation theorem for guilt aversion.

How firms export: processing vs. ordinary trade with financial frictions (2016)
Journal Article
Manova, K., & Yu, Z. (2016). How firms export: processing vs. ordinary trade with financial frictions. Journal of International Economics, 100, https://doi.org/10.1016/j.jinteco.2016.02.005

The fragmentation of production across borders allows firms to make and export final goods, or to perform only intermediate stages of production by processing imported inputs for re-exporting. We examine how financial frictions affect companies' choi... Read More about How firms export: processing vs. ordinary trade with financial frictions.

Learning from potentially-biased statistics: Household inflation perceptions and expectations in Argentina (2016)
Journal Article
Cavallo, A., Cruces, G., & Perez-Truglia, R. (2016). Learning from potentially-biased statistics: Household inflation perceptions and expectations in Argentina. Brookings Papers on Economic Activity, Spring 2016, 59-108

When forming expectations, households may be influenced by perceived bias in the information they receive. In this paper, we study how individuals learn from potentially biased statistics using data from both a natural experiment and a survey experim... Read More about Learning from potentially-biased statistics: Household inflation perceptions and expectations in Argentina.

Bond spreads and economic activity in eight European economies (2016)
Journal Article
Bleaney, M., Mizen, P., & Veleanu, V. (in press). Bond spreads and economic activity in eight European economies. Economic Journal, 126(598), https://doi.org/10.1111/ecoj.12288

We provide new insights into the relationship between financial market tightness and real activity, using a new database of corporate bonds issued in eight European countries. Bond spreads have a significant negative relationship with four real activ... Read More about Bond spreads and economic activity in eight European economies.

How do risk attitudes affect measured confidence? (2016)
Journal Article
Murad, Z., Sefton, M., & Starmer, C. (2016). How do risk attitudes affect measured confidence?. Journal of Risk and Uncertainty, 52(1), https://doi.org/10.1007/s11166-016-9231-1

We examine the relationship between confidence in own absolute performance and risk attitudes using two confidence elicitation procedures: self-reported (non-incentivised) confidence and an incentivised procedure that elicits the certainty equivalent... Read More about How do risk attitudes affect measured confidence?.

Differences in the determinants and targeting of anti-dumping: China and India compared (2016)
Journal Article
Meng, N., Milner, C., & Song, H. (in press). Differences in the determinants and targeting of anti-dumping: China and India compared. Applied Economics, https://doi.org/10.1080/00036846.2016.1150954

Despite both being developing countries, China and India have markedly contrasting patterns in their use and targeting of antidumping (AD) measures. We explore the factors driving AD use by these two countries, considering in turn macroeconomic, stra... Read More about Differences in the determinants and targeting of anti-dumping: China and India compared.

Foreign exchange inflows in emerging markets: how much are they sterilised? (2016)
Journal Article
Bleaney, M., & Devadas, S. (in press). Foreign exchange inflows in emerging markets: how much are they sterilised?. Manchester School, https://doi.org/10.1111/manc.12144

As some emerging market economies have amassed large quantities of foreign exchange reserves, concern has arisen over the sterilisation of the domestic money stock from these flows. Existing studies focus mostly on narrow (reserve) money, and estimat... Read More about Foreign exchange inflows in emerging markets: how much are they sterilised?.

Statistical inference in a random coefficient panel model (2016)
Journal Article
Horváth, L., & Trapani, L. (2016). Statistical inference in a random coefficient panel model. Journal of Econometrics, 193(1), https://doi.org/10.1016/j.jeconom.2016.01.006

This paper studies the asymptotics of the Weighted Least Squares (WLS) estimator of the autoregressive root in a panel Random Coefficient Autoregression (RCA). We show that, in an RCA context, there is no “unit root problem” : the WLS estimator is al... Read More about Statistical inference in a random coefficient panel model.

Tests of the co-integration rank in VAR models in the presence of a possible break in trend at an unknown point (2016)
Journal Article
Harris, D., Leybourne, S. J., & Taylor, A. R. (2016). Tests of the co-integration rank in VAR models in the presence of a possible break in trend at an unknown point. Journal of Econometrics, 192(2), 451-467. https://doi.org/10.1016/j.jeconom.2016.02.010

In this paper we consider the problem of testing for the co-integration rank of a vector autoregressive process in the case where a trend break may potentially be present in the data. It is known that un-modelled trend breaks can result in tests whi... Read More about Tests of the co-integration rank in VAR models in the presence of a possible break in trend at an unknown point.

Social motives in intergroup conflict: group identity and perceived target of threat (2016)
Journal Article
Weisel, O., & Zultan, R. (2016). Social motives in intergroup conflict: group identity and perceived target of threat. European Economic Review, https://doi.org/10.1016/j.euroecorev.2016.01.004

We experimentally test the social motives behind individual participation in intergroup conflict by manipulating the perceived target of threat—groups or individuals—and the symmetry of conflict. We find that behavior in conflict depends on whether o... Read More about Social motives in intergroup conflict: group identity and perceived target of threat.

Measuring loss aversion under ambiguity: a method to make prospect theory completely observable (2016)
Journal Article
Abdellaoui, M., Bleichrodt, H., l'Haridon, O., & van Dolder, D. (2016). Measuring loss aversion under ambiguity: a method to make prospect theory completely observable. Journal of Risk and Uncertainty, 52(1), 1-20. https://doi.org/10.1007/s11166-016-9234-y

We propose a simple, parameter-free method that, for the first time, makes it possible to completely observe Tversky and Kahneman’s (1992) prospect theory. While methods exist to measure event weighting and the utility for gains and losses separately... Read More about Measuring loss aversion under ambiguity: a method to make prospect theory completely observable.

England and Wales: Empirical Findings (2016)
Book Chapter
Kemp, V., & Hodgson, J. (2016). England and Wales: Empirical Findings. In M. Vanderhallen, M. V. Oosterhout, M. Panzavolta, & D. D. Vocht (Eds.), Interrogating young suspects: procedural safeguards from an empirical perspective. Intersentia

Employee incentives: bonuses or penalties? (2016)
Journal Article
Nosenzo, D. (2016). Employee incentives: bonuses or penalties?. https://doi.org/10.15185/izawol.234

Firms regularly use incentives to motivate their employees to be more productive. However, often little attention is paid to the language used in employment contracts to describe these incentives. It may be more effective to present incentives as ent... Read More about Employee incentives: bonuses or penalties?.

Forecasting global recessions in a GVAR model of actual and expected output (2016)
Journal Article
Garratt, A., Lee, K., & Shields, K. (2016). Forecasting global recessions in a GVAR model of actual and expected output. International Journal of Forecasting, 32(2), https://doi.org/10.1016/j.ijforecast.2015.08.004

We compare a Global VAR model of actual and expected outputs with alternative models to assess the role of cross-country interdependencies and confidence in forecasting. Forecast performance is judged on point and density forecasts of growth, on proba... Read More about Forecasting global recessions in a GVAR model of actual and expected output.