发布求助
文献互助 智能选刊 最新文献

Oxford Bulletin of Economics and Statistics最新文献

筛选
英文 中文
What Drives House Prices in Europe? 是什么推动了欧洲的房价？
IF 1.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-02-18 DOI: 10.1111/obes.12601
Federica Ciocchetta, Elisa Guglielminetti, Alessandro Mistretta
{"title":"What Drives House Prices in Europe?","authors":"Federica Ciocchetta,&nbsp;Elisa Guglielminetti,&nbsp;Alessandro Mistretta","doi":"10.1111/obes.12601","DOIUrl":"10.1111/obes.12601","url":null,"abstract":"<p>Boom-and-bust cycles in the housing market pose a threat to macroeconomic and financial stability, thus calling for a timely assessment of imbalances. This work sheds light on the drivers of house price dynamics in some euro area economies, investigating the risks of overheating. We show that an Error-Correction-Model (ECM) featuring a long-run relationship between house prices and income and short-run effects of interest rates and housing supply fits the data well in most cases. We then propose a novel model-based misalignment indicator and find that extrapolative house price expectations play an important role in the build-up of speculative bubbles.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 5","pages":"1089-1121"},"PeriodicalIF":1.5,"publicationDate":"2024-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139918436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Effects of Grandmothers' Proximity on Mothers' Labour Force Participation* 祖母就近对母亲劳动力参与的影响*
IF 1.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-02-05 DOI: 10.1111/obes.12600
Pelin Akyol, Zeynep Yılmaz
{"title":"Effects of Grandmothers' Proximity on Mothers' Labour Force Participation*","authors":"Pelin Akyol,&nbsp;Zeynep Yılmaz","doi":"10.1111/obes.12600","DOIUrl":"10.1111/obes.12600","url":null,"abstract":"<p>This paper investigates the causal effects of grandmothers' geographical proximity on labour supply decisions of married women with young children by leveraging a novel data set from Turkey. We deal with the reverse causality and endogeneity problems arising from mothers' and grandmothers' joint location and labour supply decisions by implementing a two-stage least squares estimation method using the number of alive grandmothers as an instrument. We argue that grandmothers' proximity can increase mothers' labour supply through their free and flexible childcare services. On the other hand, geographically close grandmothers can reduce mothers' labour supply by imposing the traditional gender norms prevalent in Turkey or requiring them to take on elderly caregiving duties. The overall effect depends on the relative size of these opposing factors. Our findings suggest that living in the same neighbourhood as grandmothers increases the probability of labour force participation and the employment rates of women with young children by 18.2 ppt and 16.4 ppt, respectively. These results are mostly driven by the non-village sample. The ‘traditional gender norm’ channel explains the insignificant impact of grandmothers' proximity on the labour market outcomes of mothers who have been raised in villages.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 5","pages":"1122-1162"},"PeriodicalIF":1.5,"publicationDate":"2024-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139758374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Paper of How: Estimating Treatment Effects Using the Front-Door Criterion* 如何的论文：使用前门标准估算治疗效果*
IF 1.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-01-29 DOI: 10.1111/obes.12598
Marc F. Bellemare, Jeffrey R. Bloem, Noah Wexler
{"title":"The Paper of How: Estimating Treatment Effects Using the Front-Door Criterion*","authors":"Marc F. Bellemare,&nbsp;Jeffrey R. Bloem,&nbsp;Noah Wexler","doi":"10.1111/obes.12598","DOIUrl":"10.1111/obes.12598","url":null,"abstract":"<p>We illustrate the use of Pearl's (1995) front-door criterion with observational data with an application in which the assumptions for point identification hold. For identification, the front-door criterion leverages exogenous mediator variables on the causal path. After a preliminary discussion of the identification assumptions behind and the estimation framework used for the front-door criterion, we present an empirical application. In our application, we look at the effect of deciding to share an Uber or Lyft ride on tipping by exploiting the algorithm-driven exogenous variation in whether one actually shares a ride conditional on authorizing sharing, the full fare paid, and origin–destination fixed effects interacted with two-hour interval fixed effects. We find that most of the observed negative relationship between choosing to share a ride and tipping is driven by customer selection into sharing rather than by sharing itself. In the Appendix, we explore the consequences of violating the identification assumptions for the front-door criterion.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 4","pages":"951-993"},"PeriodicalIF":1.5,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/obes.12598","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139657236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A Spatial Sample Selection Model* 空间样本选择模型*
IF 1.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-01-27 DOI: 10.1111/obes.12599
Yong Bao, Gucheng Li, Xiaotian Liu
{"title":"A Spatial Sample Selection Model*","authors":"Yong Bao,&nbsp;Gucheng Li,&nbsp;Xiaotian Liu","doi":"10.1111/obes.12599","DOIUrl":"10.1111/obes.12599","url":null,"abstract":"<p>This paper presents a sample selection model with spatial correlation in the selection and outcome variables and studies the maximum likelihood method of estimation. Consistency and asymptotic normality of the maximum likelihood estimator are established by the spatial near-epoch dependent properties of the variables. Monte Carlo simulations show its good finite-sample performance. This model is used to examine the impact of climate change on cereal yields in Southeast Asia and projects that climate change may cause a reduction in cereal yields by <span></span><math>\u0000 <semantics>\u0000 <mrow>\u0000 <mn>7</mn>\u0000 <mo>%</mo>\u0000 </mrow>\u0000 <annotation>$$ 7% $$</annotation>\u0000 </semantics></math> (<span></span><math>\u0000 <semantics>\u0000 <mrow>\u0000 <mn>31</mn>\u0000 <mo>%</mo>\u0000 </mrow>\u0000 <annotation>$$ 31% $$</annotation>\u0000 </semantics></math>) in the minimum-change (maximum-change) scenario.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 4","pages":"928-950"},"PeriodicalIF":1.5,"publicationDate":"2024-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139578201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does Stress Shorten Your Life? Evidence from Parental Bereavement 压力会缩短寿命吗？父母丧亲的证据
IF 2.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-01-17 DOI: 10.1111/obes.12596
Bernhard Schmidpeter
{"title":"Does Stress Shorten Your Life? Evidence from Parental Bereavement","authors":"Bernhard Schmidpeter","doi":"10.1111/obes.12596","DOIUrl":"10.1111/obes.12596","url":null,"abstract":"<p>I study the impact of stress resulting from the unexpected death of a child on parents' mortality risk. Using a flexible approach and allowing for time-varying treatment effects, I find no impact on the short-run mortality risk. However, I estimate a substantial increase in the long-run, particularly among men. I provide evidence that this group likely resorts to risky health behaviours such as heavy smoking and drinking as coping mechanisms. Assessing the possible protective effects of mental health support, I find evidence that it lowers the mortality risk for women. Mental health support has a smaller impact for men. I show that this is likely due to underutilization by those who would benefit the most. Finally, I present robustness of my results to specific departure from my identifying assumptions.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 3","pages":"485-518"},"PeriodicalIF":2.5,"publicationDate":"2024-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/obes.12596","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139481075","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A Green Wave in Media: A Change of Tack in Stock Markets* 媒体的绿色浪潮股票市场的转变*
IF 1.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-01-17 DOI: 10.1111/obes.12597
Marie Bessec, Julien Fouquau
{"title":"A Green Wave in Media: A Change of Tack in Stock Markets*","authors":"Marie Bessec,&nbsp;Julien Fouquau","doi":"10.1111/obes.12597","DOIUrl":"10.1111/obes.12597","url":null,"abstract":"<p>This paper examines the impact of environmental news coverage in US newspapers on stock markets. Using textual analysis with a dictionary-based approach, we obtain several measures of attention, tonality and uncertainty in the coverage of environmental news in major US newspapers. We consider different weighting schemes to account for the visibility and relevance of the text sources, and several sets of newspapers to measure the possible impact of their editorial line. Our results show that greater attention to environmental news in the US media reduced the excess returns of carbon-intensive stocks and increased their volatility over the last decade, especially when the coverage was uncertain. The opposite result holds for the most virtuous green assets. Restricting the corpus of texts to conservative newspapers mitigates the impact of coverage. Overall, our results illustrate how rising environmental concerns lead investors to change their asset allocation.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 5","pages":"1026-1057"},"PeriodicalIF":1.5,"publicationDate":"2024-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139481009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A Non-parametric Estimation of Productivity with Idiosyncratic and Aggregate Shocks: The Role of Research and Development (R&D) and Corporate Tax 非参数估计具有非同步冲击和总体冲击的生产力：研发（R&D）和公司税的作用
IF 2.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-01-12 DOI: 10.1111/obes.12594
Ioannis Bournakis, Mike Tsionas
{"title":"A Non-parametric Estimation of Productivity with Idiosyncratic and Aggregate Shocks: The Role of Research and Development (R&D) and Corporate Tax","authors":"Ioannis Bournakis,&nbsp;Mike Tsionas","doi":"10.1111/obes.12594","DOIUrl":"10.1111/obes.12594","url":null,"abstract":"<p>We develop a non-parametric technique framework for estimating firm-level Total Factor Productivity (TFP). Our paper has two major novelties: first, we propose a modelling of productivity with both firm-idiosyncratic factors and aggregate shocks. Second, we apply the Bayesian Markov Chain Monte Carlo (MCMC) technique that offers a numerical integration of productivity outside the posterior overcoming the restrictive assumptions about the relationship between productivity and variable production inputs. We implement our methodology in a group of 4,286 manufacturing firms from France, Germany, Italy, and the UK (2001–14). The results show that: (i) aggregate shocks matter for firm TFP evolution. The global financial crisis of 2008 caused severe, albeit short, adverse effects on TFP; (ii) there is substantial heterogeneity across countries in the way firms react to changes in R&amp;D and taxation. German and UK firms are more sensitive to fiscal changes than R&amp;D, while the opposite is true for Italian firms. R&amp;D and taxation effects are symmetrical for French firms; (iii) the UK productivity handicap continues for years after the financial crisis; and (iv) there are substantial knowledge spillovers among German and Italian firms.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 3","pages":"641-671"},"PeriodicalIF":2.5,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139460123","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Global Financial Risk, Equity Returns and Economic Activity in Emerging Countries 新兴国家的全球金融风险、股票回报和经济活动
IF 2.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2024-01-05 DOI: 10.1111/obes.12595
Jaroslav Horvath, Guanyi Yang
{"title":"Global Financial Risk, Equity Returns and Economic Activity in Emerging Countries","authors":"Jaroslav Horvath,&nbsp;Guanyi Yang","doi":"10.1111/obes.12595","DOIUrl":"10.1111/obes.12595","url":null,"abstract":"<p>International financial integration exposes countries to external shocks. This paper identifies the impact and transmission of global financial risk (GFR) shocks to emerging market economies (EMEs). Heightened GFR significantly raises EME borrowing costs and lowers equity returns, reducing domestic economic activity. We document a novel transmission channel of GFR shocks to EMEs via international capital flows. Countries experiencing larger capital inflows are more affected by GFR fluctuations. Exploring the transmission through capital flows, GFR shocks affect EMEs mainly through their effect on equity returns, instead of country spreads. We show that equity returns contain more information about EME macroeconomic fluctuations than sovereign and corporate bond spreads.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 3","pages":"672-689"},"PeriodicalIF":2.5,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139376325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Do Financial Markets Respond to Populist Rhetoric? 金融市场会对民粹主义言论做出反应吗？
IF 2.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2023-12-29 DOI: 10.1111/obes.12591
CEM ÇAKMAKLI, SELVA DEMİRALP, GÖKHAN ŞAHİN GÜNEŞ
{"title":"Do Financial Markets Respond to Populist Rhetoric?","authors":"CEM ÇAKMAKLI,&nbsp;SELVA DEMİRALP,&nbsp;GÖKHAN ŞAHİN GÜNEŞ","doi":"10.1111/obes.12591","DOIUrl":"10.1111/obes.12591","url":null,"abstract":"<p>With the global rise in populism over the last decade, there has been an increase in political commentaries (PC) by leaders that criticize their central banks and argue for lower interest rates. We analyse the effects of PCs on exchange rates, bond yields, and the risk premium for six countries that are subject to political pressures. Utilizing a specification with time-varying parameters, we show that PCs affect the level and the volatility of exchange rates, bond yields and the risk premium in Turkey. The response increases over time. In other countries, there is a significant impact on exchange rate volatility.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 3","pages":"541-567"},"PeriodicalIF":2.5,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139070160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Global Demand and Supply Sentiment: Evidence From Earnings Calls* 全球需求和供应情绪：盈利电话会议的证据*
IF 2.5 3区 经济学
Oxford Bulletin of Economics and Statistics Pub Date : 2023-12-28 DOI: 10.1111/obes.12587
Franz Ulrich Ruch, Temel Taskin
{"title":"Global Demand and Supply Sentiment: Evidence From Earnings Calls*","authors":"Franz Ulrich Ruch,&nbsp;Temel Taskin","doi":"10.1111/obes.12587","DOIUrl":"10.1111/obes.12587","url":null,"abstract":"<p>This paper quantifies global demand and supply conditions and compares two major global recessions: the 2009 Great Recession and the COVID-19 pandemic. First, we compute demand and supply sentiment by applying Natural Language Processing techniques on earnings call transcripts. Second, we corroborate our sentiment measure by identifying demand and supply shocks using a structural Bayesian vector autoregression model. The results highlight sharp contrast in the size of supply and demand conditions over time and across sectors. While the Great Recession was characterized by weak demand, COVID-19 caused sizable disruptions to both demand and supply, with varying relative importance across major sectors. Furthermore, certain sub-sectors, such as professional and business services, internet retail, and grocery/department stores, fared better than others during the pandemic.</p>","PeriodicalId":54654,"journal":{"name":"Oxford Bulletin of Economics and Statistics","volume":"86 2","pages":"314-334"},"PeriodicalIF":2.5,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139051547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信