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排序方式: 共有1396条查询结果,搜索用时 0 毫秒
1.
Rodríguez Gabriel Ojeda Cunya Junior A. Gonzáles Tanaka José Carlos 《Portuguese Economic Journal》2019,18(2):107-123
Portuguese Economic Journal - A set of RLS-type models with ARMA and ARFIMA dynamics is estimated and compared in a forecasting exercise with ARFIMA, GARCH and FIGARCH models. It is an extension of... 相似文献
2.
In this paper we use a micro panel data set of Spanish manufacturing firms to measure the contributions of continuing firms and turnover to total factor productivity growth over the period 1990–1997. The paper proposes an approach to the decomposition of productivity growth that is based on the estimation of productivity distributions. We characterize the dynamics of productivity distributions defining counterfactual distributions and using non-parametric methods. The results we obtain indicate that incumbent firms are the main factor contributing to the change in the productivity distribution. Net entry contributes positively to TFP growth. Finally, changes in the relative weights of incumbent, entering and exiting firms produce a counter-cyclical movement of productivity. 相似文献
3.
André Sobczak 《Journal of Business Ethics》2003,44(2-3):225-234
In the past ten years, many European companies organised into subcontracting networks have decided to adopt codes of conduct to regulate labour relations and to ensure the respect of fundamental social rights. This paper first determines the context and the issues to be addressed by codes of conduct within networks of companies, and second analyses the terms under which they can be implemented. The paper argues that codes of conduct can complement the standards developed by States, the European Union or the social partners, but that steps should be taken in order to avoid that these texts replace the existing labour law. 相似文献
4.
Summary. All agents have the same ordinal ranking over all objects, receiving no object (opting out) may be preferable to some objects,
agents differ on which objects are worse than opting out, and the latter information is private. The Probabilistic Serial
assignment, improves upon (in the Pareto sense) the Random Priority assignment, that randomly orders the agents and offers
them successively the most valuable remaining object. We characterize Probabilistic Serial by efficiency in an ordinal sense,
and envy-freeness. We characterize it also by ordinal efficiency, strategyproofness and equal treatment of equals.
Received: October 5, 1999; revised version: December 20, 2000 相似文献
5.
In the mid-nineties FIFA decided to increase from two to three the number of points assigned to the winning team of a soccer
match played under traditional round-robin national leagues. Since a game of soccer can be regarded as a contest, FIFA's measure
provides an interesting case-study for analysing how a change in the system of rewards (from a zero to a non-zero sum rule)
may affect the contestants' equilibrium behaviour. In this paper we try to assess, both theoretically and empirically, whether
FIFA's new point rule has changed soccer towards a more offensive game, in which teams adopt more risky strategies. In particular,
we evaluate the “na?ve hypothesis” according to which the measure would induce every team to play always more offensively,
and we explore the extent to which the change in teams' behaviour may be affected by quality differentials between teams.
Our most important hypothesis is that when the asymmetry between opposing teams is large enough, an increase in the reward
for victory induces the weaker team to play more defensively, rather than the opposite. By looking at a subset of matches
held in the Portuguese first division league, which approximate the conditions of our model, we find support for this hypothesis.
First version received: July 1999/Final version received: May 2001 相似文献
6.
Rennison (Comparing alternative output gap estimations: a Monte Carlo approach, 2003) has provided simulation-based evidence showing that the joint use of extended multivariate filters and structural vector autoregression models is optimal for estimating potential output. We use this approach to estimate the two components of potential GDP: the full-employment labour input and trend labour productivity. This decomposition is useful for identifying sources of fluctuations in potential output. It reveals, for example, that the vigorous growth rate of U.S. potential GDP recorded during the second half of the 1990s is attributable to a fall in the structural rate of unemployment and a marked upswing in trend productivity growth. 相似文献
7.
José M. Luengo Sagrario Arias Mario Arcos Elías R. Olivera 《Spanish Economic Review》2005,7(4):307-307
Spanish Economic Review referees (2003-2004)
Spanish Economic Review referees (2003-2004) 相似文献8.
Abstract. Researchers have used stylized facts on asset prices and trading volume in stock markets (in particular, the mean reversion
of asset returns and the correlations between trading volume, price changes and price levels) to support theories where agents
are not rational expected utility maximizers. This paper shows that this empirical evidence is in fact consistent with a standard
infinite horizon – perfect information – expected utility economy where some agents face leverage constraints similar to those
found in todays financial markets. In addition, and in sharp contrast to the theories above, we explain some qualitative differences
that are observed in the price-volume relation on stock and on futures markets.
We consider a continuous-time economy where agents maximize the integral of their discounted utility from consumption under
both budget and leverage constraints. Building on the work by Vila and Zariphopoulou (1997), we find a closed form solution,
up to a negative constant, for the equilibrium prices and demands in the region of the state space where the constraint is
non-binding. We show that, at the equilibrium, stock holdings volatility as well as its ratio to stock price volatility are
increasing functions of the stock price and interpret this finding in terms of the price-volume relation.
We would like to thank the editor and two anonimous referees for valuable substantive comments. Our gratitude also to Franklin
Allen, Kerry Back, Domenico Cuoco, Xavier Freixas, Sanford Grossman, Michel Habib, Lutz Hendricks, Richard Kihlstrom, Fernando
Restoy, Mary Thomson, Jean-Luc Vila, participants to seminars at Birkbeck College, Carnegie-Mellon, Columbia, ESSEC, HEC,
IAE, INSEAD, London Business School, London School of Economics, McGill, Michigan, National University of Singapore, Pompeu
Fabra, North Carolina, Washington-St-Louis, Wharton, the Jornadas de Economía Financiera BBV, and the Meetings of the Society
for Economic Dynamics and Control and the American Finance Association. Special thanks are due to Süleyman Basak for his enthusiastic
support and many helpful suggestions. The usual disclaimer applies. We gratefully acknowledge the support of the BBV and Caja
de Madrid Foundations and CREF (both authors) and of the Spanish Ministry of Education under DGICYT grant no. PB93-0388 (first
author). 相似文献
9.
Three main objectives are pursued in this paper. First, we intend to analyze the aggregation problem of directional distance functions from a constructive viewpoint. We provide necessary and sufficient conditions concerning the structural properties of the production technology and of the nature of groups of firms. Indeed, exact additive aggregation holds for a linear technology and for a direction solely defined in the output space. Second, since these conditions are somewhat restrictive, we are interested in providing a measure for the aggregation bias through the relationship between industrial and structural technical efficiency. Finally, we show that this aggregation bias is a lower bound for industrial allocative efficiency. 相似文献
10.
Top dominance and the possibility of strategy-proof stable solutions to matching problems 总被引:1,自引:0,他引:1
Summary This paper explores the possibility of designing strategy-proof mechanisms yielding satisfactory solutions to the marriage and to the college admissions problem. Our first result is negative. We prove that no strategy-proof mechanism can always choose marriages that are individually rational and Pareto efficient. This strengthens a result by Roth (1982) showing that strategy-proof mechanisms cannot always select stable marriages. The result also applies, a fortiori, to college admissions. Since finding difficulties with strategy-proofness is quite an expected result, we then address a second question which is classical within the incentives literature. Are there restrictions on the preferences of agents under which strategy-proof and stable mechanisms do exist? We identify a nontrivial restriction on the domain of preferences, to be called top dominance, under which there exist strategy-proof and stable mechanisms for both types of matching problems. The mechanisms turn out to be exactly those that derive from the most classical algorithms in the literature; namely, the women's optimal, the men's optimal and the student's optimal. Finally, top dominance is shown to be essentially necessary, as well as sufficient, for the existence of strategy-proof stable matching mechanisms.This work is partially supported by grant PB 89-0294, from the Directión General de Investigatión Ciencia y Tecnología of the Spanish Ministerio de Educación y Ciencia. Salvador Barberà is also grateful to the Instituto de Estudios Fiscales. This research was initiated while both authors were visting GREMAQ, Université des Sciencies Sociales, Toulouse, whose hospitality is gratefully acknowledged. The paper extends results that were circulated as GREMAQ W.P. 91.22.232. We are grateful to Matthew Jackson and Marilda Sotomayor for their comments. 相似文献