All Outputs (48)

Firm Dynamics and Residual Inequality in Open Economies (2018)
Journal Article
Felbermayr, G., Impullitti, G., & Prat, J. (2018). Firm Dynamics and Residual Inequality in Open Economies. Journal of European Economic Association, 16(5), 1476-1539. https://doi.org/10.1093/jeea/jvx049

© The Author(s) 2018. Published by Oxford University Press on behalf of European Economic Association. All rights reserved. Wage inequality between similar workers has been on the rise in many rich countries. Recent empirical research suggests that h... Read More about Firm Dynamics and Residual Inequality in Open Economies.

Testing for parameter instability in predictive regression models (2018)
Journal Article
Gorgiev, I., Harvey, D. I., Leybourne, S. J., & Taylor, A. R. (2018). Testing for parameter instability in predictive regression models. Journal of Econometrics, 204(1), https://doi.org/10.1016/j.jeconom.2018.01.005

We consider tests for structural change, based on the SupF and Cramer-von-Mises type statistics of Andrews (1993) and Nyblom (1989), respectively, in the slope and/or intercept parameters of a predictive regression model where the predictors display... Read More about Testing for parameter instability in predictive regression models.

Price adjustment in currency unions: another dimension to the endogeneity of the optimum currency area criteria? (2018)
Journal Article
Bleaney, M., & Yin, L. (2018). Price adjustment in currency unions: another dimension to the endogeneity of the optimum currency area criteria?. Oxford Bulletin of Economics and Statistics, 80(4), 788-803. https://doi.org/10.1111/obes.12235

In a rational expectations model, wages and prices should respond more to shocks in currency unions than under adjustable pegs because of the absence of exchange rate adjustment. This is an aspect of the endogeneity of the optimum currency area crite... Read More about Price adjustment in currency unions: another dimension to the endogeneity of the optimum currency area criteria?.

Adaptive wild bootstrap tests for a unit root with non-stationary volatility (2018)
Journal Article
Boswijk, P., & Zu, Y. (2018). Adaptive wild bootstrap tests for a unit root with non-stationary volatility. Econometrics Journal, 21(2), 87-113. https://doi.org/10.1111/ectj.12100

© 2017 The Authors. The Econometrics Journal published by John Wiley & Sons Ltd on behalf of Royal Economic Society. Recent research has emphasized that permanent changes in the innovation variance (caused by structural shifts or an integrated vola... Read More about Adaptive wild bootstrap tests for a unit root with non-stationary volatility.

Foreign currency borrowing, exports and firm performance: evidence from a currency crisis (2018)
Journal Article
Bougheas, S., Lim, H., Mateut, S., Mizen, P., & Yalcin, C. (2018). Foreign currency borrowing, exports and firm performance: evidence from a currency crisis. European Journal of Finance, 24(17), 1649-1671. https://doi.org/10.1080/1351847x.2017.1421246

This paper develops a simple signaling model of foreign currency borrowing that yields predictions about firm survival and performance during a currency crisis. Using a large panel of firm level data for South Korea we offer empirical support for man... Read More about Foreign currency borrowing, exports and firm performance: evidence from a currency crisis.

The Elusive Pro-Competitive Effects of Trade (2018)
Journal Article
Arkolakis, C., Donaldson, D., Costinot, A., & Rodríguez-Clare, A. (2019). The Elusive Pro-Competitive Effects of Trade. Review of Economic Studies, 86(1), 46-80. https://doi.org/10.1093/restud/rdx075

We study the gains from trade liberalization in models with monopolistic competition, firm-level heterogeneity, and variable markups. For a large class of demand functions used in the international macro and trade literature, we derive a parsimonious... Read More about The Elusive Pro-Competitive Effects of Trade.

Systemic risk and the optimal seniority structure of banking liabilities (2018)
Journal Article
Bougheas, S., & Kirman, A. (2018). Systemic risk and the optimal seniority structure of banking liabilities. International Journal of Finance and Economics, 23(1), 47-54. https://doi.org/10.1002/ijfe.1602

The paper argues that systemic risk must be taken into account when designing optimal bankruptcy procedures in general, and priority rules in particular. Allowing for endogenous formation of links in the interbank market we show that the optimal poli... Read More about Systemic risk and the optimal seniority structure of banking liabilities.

Is intuition really cooperative? Improved tests support the social heuristics hypothesis (2018)
Journal Article
Isler, O., Maule, J., & Starmer, C. (in press). Is intuition really cooperative? Improved tests support the social heuristics hypothesis. PLoS ONE, 13(1), Article e0190560. https://doi.org/10.1371/journal.pone.0190560

Understanding human cooperation is a major scientific challenge. While cooperation is typically explained with reference to individual preferences, a recent cognitive process view hypothesized that cooperation is regulated by socially acquired heuris... Read More about Is intuition really cooperative? Improved tests support the social heuristics hypothesis.