Sweta C. Saxena 《Review of International Economics》2006,14(3):532-534

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Steven  Dunaway  Lamin  Leigh  Xiangming  Li 《Pacific Economic Review》2009,14(3):361-375

Abstract.  Assessments of a country's real exchange rate relative to its 'equilibrium' value as suggested by 'fundamental' determinants have received increasing attention. Using China as an example, the present paper illustrates models commonly used to derive equilibrium real exchange rate estimates. The large variance in the estimates raises serious questions about the robustness of these results. The basic conclusion is that, at least for China, small changes in model specifications, explanatory variable definitions, and time periods used in estimation can lead to very substantial differences in equilibrium real exchange rate estimates. Therefore, such estimates should be treated with great caution.  相似文献   

    

BRIAN C. HILL  MATTHEW N. MURRAY 《Contemporary economic policy》2008,26(4):539-554

This paper provides an empirical examination of interactions between welfare caseloads and local labor markets using data on caseload stocks, entries, and exits. Granger‐causality tests show that unemployment rates Granger‐cause caseload activity but caseload activity does not Granger‐cause unemployment rates. The results also reveal differential dynamics between caseloads and labor market conditions for rural versus metropolitan markets. Several models of one‐way association between caseload activity and unemployment rates are presented. The results show that higher unemployment rates are positively associated with welfare caseloads and entries and negatively related to exits. (JEL I38, R23)  相似文献   

    

Donald I. Price  Kabir C. Sen 《Managerial and Decision Economics》2003,24(1):35-46

This paper develops a predictive model which includes game, team and university specific factors that are likely to influence game day demand for Division 1‐A college football. Attendance during the 1997 regular season is used as the dependent variable. Tobit estimates of two separate equations reveal that the quality of both teams, traditional rivalry and membership of specific conferences have a significant influence on demand. In addition, colleges with lower enrollments and a higher percentage of off‐campus students attract smaller crowds. The presence of a nearby professional football team also detracts from a college team's drawing power. Copyright © 2003 John Wiley & Sons, Ltd.  相似文献   

    

Yueh-Neng Lin  Shih-Kuo Yeh  Shih-Ching Chuan  Steven J. Jordan 《The Service Industries Journal》2013,33(13):2273-2288

This study proposes a linkage between intraday variables (signal amounts and signal duration) and the mispricing of Taiwan call warrant prices, based on the lower boundary condition of Merton [1973. Theory of rational option pricing. Bell Journal of Economics and Management Science, 4(1), 141–183] as modified by Galai [1978. Empirical tests of boundary conditions for CBOE options. Journal of Financial Economics, 9(2), 321–346]. Trading mispriced call warrants associated with a riskless hedging strategy over the period January 2004–December 2005 on average produces abnormal profits after taking into account transaction costs, as indicative of an inefficient market.  相似文献   

    

Michael A. Hauser 《Empirical Economics》1997,22(2):247-271

The finite sample properties of three semiparametric estimators, several versions of the modified rescaled range, MRR, and three versions of the GHURST estimator are investigated. Their power and size for testing for long memory under short-run effects, joint short and long-run effects, heteroscedasticity andt-distributions are given using Monte Carlo methods. The MRR with the Bartlett window is generally robust with the disadvantage of a relatively small power. The trimmed Whittle likelihood has high power in general and is robust except for large short-run effects. The tests are applied to changes in exchange rate series (daily data) of 6 major countries. The hypothesis of no fractional integration is rejected for none of the series.  相似文献   

  总被引：1，自引：0，他引：1  

Michael Alexeev 《Economics of Transition》1999,7(2):449-465

The paper considers the Russian privatization process and examines how its deviation from the competitive sale standard was likely to affect wealth inequality. (Privatization here is defined narrowly as the transfer of existing assets from government ownership to private hands.) While empirical evaluation is all but impossible due to the dearth of reliable data, it is feasible to analyze the institutional features of Russian privatization in terms of their effect on redistribution of wealth. The paper argues that the most relevant and interesting issue is to evaluate privatization's distributional consequences relative to the informal pre-reform property rights. In light of this, privatization is modelled as a rent-seeking contest with incumbency advantage of enterprise managers who initially held the greatest informal rights over assets. The rent-seeking contest is shown to strongly magnify this pre-reform wealth inequality reflected in the incumbency advantage.
In addition, the paper analyzes the distributional consequences for various wealth groups of the differences in the composition of their pre-reform informal wealth, most importantly a relatively large share of housing assets in the wealth of the poor. The effect of wealth redistribution on economic growth in Russia is also discussed.  相似文献   

    

Sarah Robinson  Trevor Murrells  Michael Clinton 《Human Resource Management Journal》2006,16(3):287-312

Although increasing numbers of graduates now enter the UK labour market, there has been little evaluation of the benefits that this component of the workforce is reported to bring to employing organisations. This study focused on nursing; a profession in which graduate entry is increasing but potential benefits of moving to all‐graduate entry are strongly contested. Career behaviour and expectations of graduate nurses were compared with those of diploma‐qualified nurses. Career behaviours were similar but differences were found in fulfilment of expectations that reflected findings reported for graduates in other employment contexts. Graduates entered nursing with higher expectations than diplomates but these were often unfulfilled. Graduates reported lower levels of satisfaction than diplomates over time and became less likely to intend remaining in nursing. Implications for increasing graduate entry are discussed, together with strategies to facilitate better synchronisation between graduate expectations and opportunities within the NHS and beyond.  相似文献   

    

Michael D. Intriligator 《The Australian economic review》1994,27(2):4-14

Abstract
Russia has recently embarked on a dramatic program of privatisation as part of the process of shock therapy which aims to convert the command economy to a market economy. This program has been undertaken in the absence of a well-developed set of institutions needed for the proper functioning of a market economy. These institutions include a legal system, a related system of property rights, a credit system, a system of commercial banks, classified advertising, an accounting system and others including a sound currency and a social safety net. In the absence of these institutions the incentives facing agents in economic transactions have been perverted. This has led to criminalisation of the economy, dramatic falls in production, loss of confidence in all aspects of commerce, and political instability. The recent Russian experience of privatisation has important lessons for other economies in transition, for developing economies and for economic theory.  相似文献   

    

Hosay CK 《Employee benefits journal》1993,18(4):4-8

Employer sponsorship of long-term care programs is a growing trend, one that is likely to continue, no matter what direction national health care reform takes.  相似文献