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41.
Irina Dubova 《International Economics and Economic Policy》2016,13(3):499-518
This paper investigates long-run behavior of Russian real effective exchange rate. Due to high dependence on natural resources’ exports and, at the same time, absence of stable domestic policy, unexpected and/or excessive changes in the real exchange rate might negatively affect the Russian economy, causing large welfare costs. Since the determinants as well the causal links to different fundamental determinants are not straightforward, we employ the Johansen cointegration framework in order to determine factors that drive real exchanges rate in the long run. Compared to previous research on the Russian exchange rate, we expand the period of observations and construct potential determinants in a not traditional way, but as differences between domestic and foreign variables. This proceeding might also be relevant for researches, dedicated to another countries’ exchange rates. 相似文献
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The paper empirically estimates the financial transmission within and across bond and equity markets in the four largest global financial markets – the United States, the Euro area, Japan, and the United Kingdom. We argue that international bond and equity markets are highly interconnected both within and across asset classes in a globalized world, where the complex transmission process across various financial assets is not restricted to just the domestic market. This paper employs identification through generalized forecast error variance decompositions to estimate spillovers across four systemic markets in a Vector Autoregression (VAR) framework. We find that asset prices react most strongly to international shocks within the same asset class, but that there are also substantial international spillovers across asset classes. Rolling estimations analysis provides evidence that global asset markets have become more integrated and that the bilateral relationships change over time. Our results are robust to specifications that take into account the monetary policy stance and include foreign exchange markets. 相似文献
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Brooke Fisher Liu Holly Roberts Elizabeth L. Petrun Sayers Gary Ackerman Daniel Smith Irina Iles 《Journal of Risk Research》2017,20(11):1394-1417
Scholars often call for research on the public’s involvement in crisis and risk mitigation. Yet, before the public can be persuaded to become involved in new mitigation initiatives, risk managers must first understand how members of the public perceive such initiatives. Grounded in diffusion of innovation (DOI) theory, this study presents insights from 70 adult residents of a US urban metro area through focus group research. Findings yield insights about public perceptions of risk management innovations including that ‘greater good’ incentives can motivate interest in innovations (more so than financial incentives), thereby extending DOI theory. In addition, participants suggested mechanisms for facilitating government transparency to encourage program participation, along with additional insights about involving the public in government-sponsored risk management innovations. 相似文献
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This article offers new insights on determinants of degree and scope of new venture internationalization from emerging markets. We set our study by development of a theoretical framework and hypothesis integrating entrepreneur-, firm-, industry-, and institutional factors to be tested in the Russian empirical context. The results indicate that institutional factors have the strongest relationship with the degree and scope of internationalization in Russian NVs. However, contrary to our expectations and existing literature, entrepreneur-, firm-, and industry-related factors are not associated with new venture internationalization. These unexpected findings have motivated us to implement the second round of empirical research using qualitative approach. As an outcome, we were able to explain the underlying forces behind the inconsistencies in the survey results and to develop four puzzles that provide a foundation for the theoretical extension of new venture internationalization from emerging markets. 相似文献
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Irina Barakova Raphael W. Bostic Paul S. Calem Susan M. Wachter 《Journal of Housing Economics》2003,12(4):318-336
While micro-level household data on wealth and income are available for assessing income- and wealth-based constraints to homeownership, lack of data on household credit ratings has precluded evaluation of credit quality as a potential barrier to homeownership. The study, for the first time, measures the relative importance of credit-, income-, and wealth-based constraints and estimates how the effects of these constraints have evolved over the past decade. The results show that financing constraints continue to have an important impact on potential homebuyers. The wealth constraint has the largest impact, although its importance declined substantially during the 1990s. Credit quality based constraints have become more important barriers to homeownership during the 1990s, mostly reflecting an increase in the number of households with impaired credit quality. Thus, both wealth and credit constraints persist as barriers to the attainment of homeownership. 相似文献
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Edward C. Norton Olena Nizalova Irina Murtazashvili 《Journal of Comparative Economics》2018,46(4):1104-1121
The profound economic and political changes of the 1990s had detrimental social effects in many domains of life in post-socialist countries, including diminishing life expectancy and growing unhappiness. Despite economic improvements in the second decade of transition, research has documented that happiness lagged behind. We test whether past unemployment experience can explain this “transition happiness gap in the context of Ukraine”, a country with a painful delayed transition from planned to market economy. We analyze unique longitudinal data for the period 2003–2012. Current unemployment substantially reduces subjective wellbeing, and the effect is roughly 50% larger for men than for women. The effect of past unemployment is significant, but small in magnitude compared to the effect of current unemployment. However, it does correspond to around 8% of the ‘’transition happiness gap” found by Guriev and Melnikov (2017), suggesting that past unemployment experience can be considered as a partial explanation. 相似文献
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Claudia Keser Irina Suleymanova Christian Wey 《Information Economics and Policy》2012,24(3-4):262-276
We examine a technology-adoption game with network effects in which coordination on either technology A or technology B constitutes a Nash equilibrium. Coordination on technology B is assumed to be payoff dominant. We define a technology’s critical mass as the minimal share of users, which is necessary to make the choice of this technology the best response for any remaining user. We show that the technology with the lower critical mass implies risk dominance and selection by the maximin criterion. We present experimental evidence that both payoff dominance and risk dominance explain participants’ choices in the technology-adoption game. The relative riskiness of a technology can be proxied using either technologies’ critical masses or stand-alone values absent any network effects. 相似文献
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Morgan X. Yang Ji Li Irina Y. Yu Kevin J. Zeng Jian‐Min Sun 《Business Strategy and the Environment》2019,28(6):989-997
Environmentally and economically sustainable strategies are predicted to influence the public perception of a firm's green performance in terms of environmental protection as well as corporate social responsibility as a whole. We empirically tested this prediction with the data from 214 Chinese manufacturing firms. Our empirical findings showed that firms' environmentally sustainable strategies are more important compared with the economic ones in shaping firms' green performances. Moreover, we also found a significant moderating effect of employees' education on the relationship between the two sustainable strategies and firms' green performances. We explain the findings and conclude with a discussion of the implications of our findings for academic researchers and practitioners. 相似文献