All Outputs (604)

Testing for a unit root against ESTAR stationarity (2017)
Journal Article
Harvey, D. I., Leybourne, S. J., & Whitehouse, E. J. (2018). Testing for a unit root against ESTAR stationarity. Studies in Nonlinear Dynamics and Econometrics, 22(1), https://doi.org/10.1515/snde-2016-0076

In this paper we examine the local power of unit root tests against globally stationary exponential smooth transition autoregressive [ESTAR] alternatives under two sources of uncertainty: the degree of nonlinearity in the ESTAR model, and the presenc... Read More about Testing for a unit root against ESTAR stationarity.

Forecast evaluation tests and negative long-run variance estimates in small samples (2017)
Journal Article
Harvey, D. I., Leybourne, S. J., & Whitehouse, E. J. (2017). Forecast evaluation tests and negative long-run variance estimates in small samples. International Journal of Forecasting, 33(4), https://doi.org/10.1016/j.ijforecast.2017.05.001

In this paper, we show that when computing standard Diebold-Mariano-type tests for equal forecast accuracy and forecast encompassing, the long-run variance can frequently be negative when dealing with multi-step-ahead predictions in small, but empiri... Read More about Forecast evaluation tests and negative long-run variance estimates in small samples.

The sustainability of empire in a global perspective: the role of international trade patterns (2017)
Journal Article
Bonfatti, R. (2017). The sustainability of empire in a global perspective: the role of international trade patterns. Journal of International Economics, 108, 137-156. https://doi.org/10.1016/j.jinteco.2017.06.002

I construct a model in which a colony trades raw materials for manufactures with the mother country and the rest of the world, and can rebel at the cost of some trade disruption with the mother country. Decolonisation is more likely when the rest of... Read More about The sustainability of empire in a global perspective: the role of international trade patterns.

Do psychological fallacies influence trading in financial markets? Evidence from the foreign exchange market (2017)
Journal Article
Bleaney, M., Bougheas, S., & Zhiyong, L. (2017). Do psychological fallacies influence trading in financial markets? Evidence from the foreign exchange market. Journal of Behavioral Finance, 18(3), 344-357. https://doi.org/10.1080/15427560.2017.1331234

Research in both economics and psychology suggests that, when agents predict the next value of a random series, they frequently exhibit two types of biases, which are called the gambler’s fallacy (GF) and the hot hand fallacy (HHF). The gambler’s fal... Read More about Do psychological fallacies influence trading in financial markets? Evidence from the foreign exchange market.

On the Impossibility of Protecting Risk?takers (2017)
Journal Article
Hinnosaar, T. (2018). On the Impossibility of Protecting Risk?takers. Economic Journal, 128(611), 1531-1544. https://doi.org/10.1111/ecoj.12446

Risk?neutral sellers can extract high profits from risk?loving buyers using lotteries. To limit risk?taking, gambling is heavily regulated in most countries. In this article, I show that protecting risk?loving buyers is essentially impossible. Even i... Read More about On the Impossibility of Protecting Risk?takers.

The importance of peers for compliance with norms of fair sharing (2017)
Journal Article
Gaechter, S., Gerhards, L., & Nosenzo, D. (2017). The importance of peers for compliance with norms of fair sharing. European Economic Review, 97, https://doi.org/10.1016/j.euroecorev.2017.06.001

A burgeoning literature in economics has started examining the role of social norms in explaining economic behavior. Surprisingly, the vast majority of this literature has studied social norms in asocial decision settings, where individuals are obser... Read More about The importance of peers for compliance with norms of fair sharing.

Who Becomes A Politician? (2017)
Journal Article
Dal Bó, E., Finan, F., Folke, O., Persson, T., & Rickne, J. (2017). Who Becomes A Politician?. Quarterly Journal of Economics, 132(4), 1877-1914. https://doi.org/10.1093/qje/qjx016

Can a democracy attract competent leaders, while attaining broad representation? Economic models suggest that free-riding incentives and lower opportunity costs give the less competent a comparative advantage at entering political life. Moreover, if... Read More about Who Becomes A Politician?.

The costs, resource use, and cost-effectiveness of Clinical Nurse Specialist (CNSs) led interventions for patients with palliative care needs: a systematic review of international evidence (2017)
Journal Article
Salamanca-Balen, N., Seymour, J., Caswell, G., Whynes, D., & Tod, A. (2017). The costs, resource use, and cost-effectiveness of Clinical Nurse Specialist (CNSs) led interventions for patients with palliative care needs: a systematic review of international evidence. Palliative Medicine, https://doi.org/10.1177/0269216317711570

Background: Patients with palliative care (PC) needs do not access specialist palliative care services according to their necessities. Clinical Nurse Specialists (CNS) working across a variety of fields are playing an increasingly important role in t... Read More about The costs, resource use, and cost-effectiveness of Clinical Nurse Specialist (CNSs) led interventions for patients with palliative care needs: a systematic review of international evidence.

Distributional Comparative Statics (2017)
Journal Article
Jensen, M. K. (2018). Distributional Comparative Statics. Review of Economic Studies, 85(1), 581-610. https://doi.org/10.1093/restud/rdx021

Distributional comparative statics is the study of how individual decisions and equilibrium outcomes vary with changes in the distribution of economic parameters (income, wealth, productivity, information, etc.). This article develops new tools to ad... Read More about Distributional Comparative Statics.

Occasional errors can benefit coordination (2017)
Journal Article
Gaechter, S. (2017). Occasional errors can benefit coordination. Nature, 545, https://doi.org/10.1038/545297a

The chances solving a problem that involves coordination between people are increased by introducing robotic players that sometimes make mistakes. This finding has implications for real-world coordination problems.

Off the waterfront: the long-run impact of technological change on dock workers (2017)
Journal Article
El-Sahli, Z., & Upward, R. (in press). Off the waterfront: the long-run impact of technological change on dock workers. British Journal of Industrial Relations, 55(2), https://doi.org/10.1111/bjir.12224

We investigate how individual workers and local labour markets adjust over a long time period to a discrete and plausibly exogenous technological shock, namely the introduction of containerisation in the UK port industry. This technology, which was... Read More about Off the waterfront: the long-run impact of technological change on dock workers.

Conducting interactive experiments online (2017)
Journal Article
Arechar, A. A., Gaechter, S., & Molleman, L. (2018). Conducting interactive experiments online. Experimental Economics, 21(1), https://doi.org/10.1007/s10683-017-9527-2

Online labor markets provide new opportunities for behavioral research, but conducting economic experiments online raises important methodological challenges. This particularly holds for interactive designs. In this paper, we provide a methodological... Read More about Conducting interactive experiments online.

Fiscal reforms and the fiscal effects of aid in Uganda (2017)
Journal Article
Bwire, T., Morrissey, O., & Lloyd, T. (in press). Fiscal reforms and the fiscal effects of aid in Uganda. Journal of Development Studies, 53(7), https://doi.org/10.1080/00220388.2017.1303677

Uganda implemented public expenditure and revenue management reforms from the early 1990s with specific aims of improving budget planning and aligning aid with fiscal priorities. The dynamic relationship between aid and domestic fiscal aggregates is... Read More about Fiscal reforms and the fiscal effects of aid in Uganda.

Internally reporting risk in financial services: an empirical analysis (2017)
Journal Article
Bryce, C., Chmura, T., Webb, R., Stiebale, J., & Cheevers, C. (in press). Internally reporting risk in financial services: an empirical analysis. Journal of Business Ethics, https://doi.org/10.1007/s10551-017-3530-6

The enduring failure of financial institutions to identify and deal with risk events continues to have serious repercussions, whether in the form of small but significant losses or major and potentially far-reaching scandals. Using a mixed-methods ap... Read More about Internally reporting risk in financial services: an empirical analysis.

Entrepreneurial migration in an integrated world (2017)
Journal Article
Bougheas, S., & Falvey, R. (2018). Entrepreneurial migration in an integrated world. Scandinavian Journal of Economics, 120(4), 1171-1201. https://doi.org/10.1111/sjoe.12249

A growing number of developed countries are offering entrepreneurial visas as a means of attracting entrepreneurial talent and capital. In this paper we use a simple two sector model of international trade with heterogeneous agents and financial fric... Read More about Entrepreneurial migration in an integrated world.

How does happiness relate to economic behaviour?: a review of the literature (2017)
Journal Article
Lane, T. (2017). How does happiness relate to economic behaviour?: a review of the literature. Journal of Behavioral and Experimental Economics, 68, https://doi.org/10.1016/j.socec.2017.04.001

This article reviews research on the relationship between happiness (subjective wellbeing) and economic behaviour. I describe how experimental and non-experimental methods have been used, across the social sciences, to investigate how happiness drive... Read More about How does happiness relate to economic behaviour?: a review of the literature.

The golden hello and political transitions (2017)
Journal Article
Aidt, T. S., Albornoz, F., & Gassebner, M. (2018). The golden hello and political transitions. Journal of Comparative Economics, 46(1), https://doi.org/10.1016/j.jce.2017.03.004

We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version of Acemoglu and Robinson’s [American Economic Review 91, 2001] model of political transitions to show how the anticipation of new... Read More about The golden hello and political transitions.

Immigration and the school system (2017)
Journal Article
Albornoz, F., Cabrales, A., & Hauk, E. (in press). Immigration and the school system. Economic Theory, https://doi.org/10.1007/s00199-017-1041-4

This paper presents a tractable model to study the effect of immigration on host countries’ school system and student outcomes. In our model, education quality and student outcomes are determined endogenously by the interaction of parents, schools an... Read More about Immigration and the school system.

The macroeconomics of aid: overview (2017)
Journal Article
Addison, T., Morrissey, O., & Tarp, F. (in press). The macroeconomics of aid: overview. Journal of Development Studies, 53(7), https://doi.org/10.1080/00220388.2017.1303669

This Special Issue explores macroeconomic effects of aid from various perspectives through a blend of studies, both conceptual and empirical in nature. The overall aim is to enhance the understanding of the macroeconomic dimensions of aid in the poli... Read More about The macroeconomics of aid: overview.

Tests for an end-of-sample bubble in financial time series (2017)
Journal Article
Astill, S., Harvey, D. I., Leybourne, S. J., & Taylor, R. (in press). Tests for an end-of-sample bubble in financial time series. Econometric Reviews, 36(6-9), https://doi.org/10.1080/07474938.2017.1307490

In this paper we examine the issue of detecting explosive behaviour in economic and financial time series when an explosive episode is both ongoing at the end of the sample, and of finite length. We propose a testing strategy based on the sub-samplin... Read More about Tests for an end-of-sample bubble in financial time series.