An empirical note about estimation and forecasting Latin American Forex returns volatility: the role of long memory and random level shifts components

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...     

Dynamic managerial capabilities: Scale development and validation

Studies on dynamic managerial capabilities still have a rather theoretical nature, and there is great difficulty in finding a valid, reliable instrument to measure this construct. The present study contributes to solving this problem: It aims to develop and validate a scale to measure dynamic managerial capabilities. In this investigation, we develop a scale for three factors related to dynamic managerial capabilities: human capital, managerial cognition (already described in the literature), and relationship networks. The prominent finding in this research is the factor that is referred to here as relationship networks.     

Coordination in a skeptical two-group population

Journal of Economic Interaction and Coordination - This paper explores a situation in which a population split into two groups attempts to achieve the socially efficient outcome of a coordination...     

Family firm’s management composition: the role played by family members’ age in TMT and supervisor levels

Quality & Quantity - Family firms (FFs) are the backbone of entrepreneurial fabric in many countries. Management of such businesses is complex because of their features: the overlap between...     

Statistical Decision Problems and Bayesian Nonparametric Methods

This paper considers parametric statistical decision problems conducted within a Bayesian nonparametric context. Our work was motivated by the realisation that typical parametric model selection procedures are essentially incoherent. We argue that one solution to this problem is to use a flexible enough model in the first place, a model that will not be checked no matter what data arrive. Ideally, one would use a nonparametric model to describe all the uncertainty about the density function generating the data. However, parametric models are the preferred choice for many statisticians, despite the incoherence involved in model checking, incoherence that is quite often ignored for pragmatic reasons. In this paper we show how coherent parametric inference can be carried out via decision theory and Bayesian nonparametrics. None of the ingredients discussed here are new, but our main point only becomes evident when one sees all priors—even parametric ones—as measures on sets of densities as opposed to measures on finite-dimensional parameter spaces.     

Flexible exchange rates as shock absorbers

In this paper we analyze empirically the effect of terms of trade shocks on economic performance under alternative exchange rate regimes. We are particularly interested in investigating whether terms of trade disturbances have a smaller effect on growth in countries with a flexible exchange rate arrangement. We also analyze whether negative and positive terms of trade shocks have asymmetric effects on growth, and whether the magnitude of these asymmetries depends on the exchange rate regime. We find evidence suggesting that terms of trade shocks get amplified in countries that have more rigid exchange rate regimes. We also find evidence of an asymmetric response to terms of trade shocks: the output response is larger for negative than for positive shocks. Finally, we find evidence supporting the view that, after controlling for other factors, countries with more flexible exchange rate regimes grow faster than countries with fixed exchange rates.     

Social capital effects on the discovery and exploitation of entrepreneurial opportunities

Social capital refers to social networks and the norms of reciprocity, cooperation and trust associated with them. It can be studied at different levels of analysis. As previous literature suggests, social capital has aspects at both the individual and collective levels. However, theory development and empirical research have focused on separate, sometimes diverging levels. In an attempt to address this, this research examines the simultaneous influence of individual and regional social capital on the discovery and exploitation of entrepreneurial opportunities using individual-level data from the Global Entrepreneurship Monitor linked with regional-level data on social capital. The results show that individuals from regions with higher social capital are more likely to discover and to exploit entrepreneurial opportunities. Moreover, individuals having networks with other entrepreneurs are also more likely to identify a business opportunity and to become an entrepreneur. Also, we found that social capital at individual level had a greater effect than social capital at regional level in the two stages of the entrepreneurial process.     

A UNIFIED PRESENTATION OF COMPETITION ANALYSIS IN TWO-SIDED MARKETS

The goal of this paper is to present quantitative tools to manage competition policy analysis in two-sided platforms, based on a common framework for transaction and non-transaction platforms. We explore tools for relevant market definition [Critical Loss Analysis and a small but significant non-transitory increase in price (SSNIP) test], unilateral effects indicators [Upward Pricing Pressure (UPP) and Gross Upward Pricing Pressure Index (GUPPI)] and tests for exclusionary practices. We review dispersed results in the literature and fill the gaps where appropriate. We highlight the required changes from the usual one-sided market framework and tools. While discussions of antitrust tools can be found in specialized forums devoted to advances in competition policy analysis, we organize the material in an integrated framework.