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31.
We studied the distribution dynamics of the demand for books in Italy. We found that for each of the three broad sub-markets into which the book publishing industry can be classified – Italian novels, foreign novels and non-fiction – sales over a three-year sample can be adequately fitted by a power law distribution. Our results can be plausibly interpreted in terms of a model of interactions among buyers exchanging information on the books they buy. 相似文献
32.
The problem of dating the business cycle has recently received many contributions, with a lot of proposed statistical methodologies, parametric and non-parametric. In general, these methods are not used in official dating, which is carried out by experts, who use their subjective evaluations of the state of economy. In this work we try to apply some statistical procedures to obtain an automatic dating of the Italian business cycle in the last 30 years, checking differences among various methodologies and with the ISAE chronology. The purpose of this exercise is to verify if purely statistical methods can reproduce the turning points detection proposed by economists, so that they could be fruitfully used in official dating. To this end parametric as well as non-parametric methods are employed. The analysis is carried out both aggregating results from single time series and directly in a multivariate framework. The different methods are also evaluated with respect to their ability to timely track (ex post) turning points. 相似文献
33.
Fabrizio Cipollini Giampiero M. Gallo Edoardo Otranto 《International Journal of Forecasting》2021,37(1):44-57
In this paper, we suggest how to handle the issue of the heteroskedasticity of measurement errors when specifying dynamic models for the conditional expectation of realized variance. We show that either adding a GARCH correction within an asymmetric extension of the class (-), or working within the class of asymmetric multiplicative error models () greatly reduces the need for quarticity/quadratic terms to capture attenuation bias. This feature in can be strengthened by considering regime specific dynamics. Model Confidence Sets confirm this robustness both in- and out-of-sample for a panel of 28 big caps and the S&P500 index. 相似文献
34.
We consider a model in which educational investments entail productivity gains, signaling power, and social status. The latter depends on the agent's relative achievement in one of three dimensions: innate skills, level of schooling, and income. We study the three scenarios separately and characterize the conditions under which social concerns increase or decrease educational and income inequality. Inequality increases (decreases) if education lowers the stigma suffered by low‐skilled workers less (more) than it boosts the prestige enjoyed by high‐skilled workers. We discuss the expected results of some policies in light of these findings. 相似文献
35.
ABSTRACTThe influence of the EU (and the IMF) on domestic cutback management were studied in nine European countries. In this concluding article, a cross-country comparative analysis is presented. The influence of the EU and the IMF being most evident in bailed-out countries, we first take a closer look at the loan programmes in Greece, Ireland, Portugal, and Spain, plus the hardly-known earlier bailouts in Hungary and Latvia. We then turn to two factors that influence cutbacks and reforms: economics and politics. Finally, the concept of the influence of the EU (and the IMF) is differentiated into degrees and types of influence. 相似文献
36.
This article examines the liquidity of international real estate securities across 10 markets over the period 1990–2015. We apply and compare results for four different measures of liquidity, and find that while liquidity has increased consistently, wide variations still exist across markets, with the United States and Japan in the lead. Our results also suggest that the introduction of local REIT regimes did not have any pervasive effects on stock liquidity. When we study the relationship between liquidity and returns, we document new and consistent evidence for international return chasing behavior, whose pattern is a function of local market efficiency, listed real estate market maturity and stock ownership dispersion. The introduction of REIT regimes seems to weaken the importance of extra performance over and above general equity returns as investors tend to allocate funds to real estate securities within real estate rather than equity portfolios. 相似文献
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38.
C. Edoardo Altamura 《The Economic history review》2014,67(1):317-319
39.
Edoardo Boria 《Geopolitics》2013,18(2):278-308
Eurasian Geopolitics as explained in the Heartland model has been reincarnated as Energy Geopolitics. Germany and India are the two strategic economies of the Inner Crescent of Mackinder's ‘Heartland’ Model and are largely similar in geopolitical focus to the rest of Eurasia. The article argues that in the coming decades at least, Russia will play an important role in these countries' energy vision. A similar unique convergence of goals regarding energy technology requirements will also be seen in the coming decades. India cannot abandon the developmental needs of its one billion plus people to the energy monopolies. Neither does Germany as a significant global economy wish to hang its globalisation efforts on similar energy uncertainties. Both countries therefore seek to spread their energy security through technology-centred geopolitical pluralism. Central Asian energy resources thus seem to be a geopolitical temptation that both nations find hard to ignore. Geopolitical contingencies, it is argued, might bring them together to explore a mixed set of options under some kaleidoscopic combination of an altogether new energy vision. 相似文献
40.
This article extends the Vector Autoregression (VAR) methodology to examine the consequences of monetary policy decisions by considering two types of nonlinearities in the determination of official interest rates: (1) the asymmetry related to the different nature of the discrete and infrequent positive and negative interest rate movements determined by central bankers and (2) the convexity in the transmission of policy shocks induced by the nonnegativity constraint in interest rates. For the UK, we find some evidence of both types of asymmetries. In the US, responses to unexpected interest rate shocks are far more symmetric. Results highlight the importance of considering all types of asymmetries when studying monetary transmission. 相似文献