发布求助
文献互助 智能选刊 最新文献

International journal of economic research最新文献

筛选
英文 中文
Deviations from the law of one price across cities: testing for a border effect in persistence and volatility 城市间对单一价格法则的偏离:对持久性和波动性的边界效应的检验
International journal of economic research Pub Date : 2010-08-01 DOI: 10.17256/JER.2010.15.2.002
M. Wohar
{"title":"Deviations from the law of one price across cities: testing for a border effect in persistence and volatility","authors":"M. Wohar","doi":"10.17256/JER.2010.15.2.002","DOIUrl":"https://doi.org/10.17256/JER.2010.15.2.002","url":null,"abstract":"In this paper, we test for border effects in deviations from the law of one price. With respect to the AR(p) representation of deviations from the law of one price, we test for a border effect in both the sum of the autoregressive coefficients (persistence) and the variance of the disturbance term (volatility). Using consumer price index data for a large number of categories of consumer goods and services for Canadian and U.S. cities from Engel and Rogers (1996), we first use the Hansen (1999) grid-bootstrap procedure to generate median-unbiased estimates of the persistence and volatility in deviations from the law of one price for every city pair and CPI category. We then estimate cross-section regression models across city pairs for the estimates of persistence and volatility for each CPI category, and we find that (after controlling for the distance between cities) crossing the Canadian-U.S. border leads to significant increases in both persistence and volatility for nearly all of the CPI categories. We also document a border effect in both persistence and volatility using the aggregate consumer price index data for European cities from Engel and Rogers (2001).","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"82 1","pages":"129-146"},"PeriodicalIF":0.0,"publicationDate":"2010-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72700543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Voluntary Disclosure of Information 自愿披露资料
International journal of economic research Pub Date : 2010-08-01 DOI: 10.17256/JER.2010.15.2.003
Cheolbeom Park
{"title":"Voluntary Disclosure of Information","authors":"Cheolbeom Park","doi":"10.17256/JER.2010.15.2.003","DOIUrl":"https://doi.org/10.17256/JER.2010.15.2.003","url":null,"abstract":"This paper investigates whether firms issuing securities will voluntarily disclose their private information in the absence of mandatory disclosure rules. We extend the usual model to one with two periods and show that no informed firm chooses to disclose its information in the first period if they expect a bigger fraction of shares to be sold in the second period. Informed firms can afford not to disclose their information because some firms choose to remain uninformed due to the costs of acquiring information. We also compute the optimal fraction of shares sold each period and show that the value of information increases as more firms get informed. The last result implies that in the absence of a mandatory disclosure rule, more voluntary disclosure is expected because more firms will acquire the information.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"33 1","pages":"147-170"},"PeriodicalIF":0.0,"publicationDate":"2010-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74802876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Structural Change in Stock Price Volatility of Asian Financial Markets 亚洲金融市场股价波动的结构性变化
International journal of economic research Pub Date : 2010-05-01 DOI: 10.17256/JER.2010.15.1.001
J. Kim, Byeongseon Seo, David J. Leatham
{"title":"Structural Change in Stock Price Volatility of Asian Financial Markets","authors":"J. Kim, Byeongseon Seo, David J. Leatham","doi":"10.17256/JER.2010.15.1.001","DOIUrl":"https://doi.org/10.17256/JER.2010.15.1.001","url":null,"abstract":"Structural change in the volatility of five Asian and U.S. stock markets is examined during the post-liberalization period (1990-2005) of Asian financial markets using the Sup-LM test. Four Asian financial markets (Korea, Japan, Hong Kong, and Singapore) experienced structural changes. However, test results do not support the structural changes in volatility for Thailand and the U.S. Also, the empirical results show that the GARCR persistent coefficients tend to increase while the ARCH impact coefficients decrease in Asian markets, which implies that the volatility process has become more persistent.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"2009 1","pages":"1-27"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82601351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Inflation and Capital Stock in The Long Run 通货膨胀和长期资本存量
International journal of economic research Pub Date : 2010-05-01 DOI: 10.17256/JER.2010.15.1.002
Joonwon Kim
{"title":"Inflation and Capital Stock in The Long Run","authors":"Joonwon Kim","doi":"10.17256/JER.2010.15.1.002","DOIUrl":"https://doi.org/10.17256/JER.2010.15.1.002","url":null,"abstract":"The validity of the Tobin effect in the monetary growth literature depends largely on whether a model supports the substitutability or complementarity hypothesis regarding money and capital. This paper presents an overlapping generations monetary economy in which either hypothesis can be addressed, depending on the specified role of money and the role of government in the capital market. The model with money as single outside asset in which money is held purely on speculative grounds generates the Tobin effect. However, in the model with multiple means of payment, the Tobin effect depends on the elasticity of substitution between cash and credit goods. For example, the reverse-Tobin effect prevails unambiguously when goods are complements. In the extended model with multiple outside assets, the reverse-Tobin effect becomes more likely. Under logarithmic utility, we show that the Tobin effect no longer holds due to the crowding out effect.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"70 1","pages":"29-51"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86290727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
How Do Families Smooth Household Heads' Earnings Volatility? 家庭如何平抑户主收入波动?
International journal of economic research Pub Date : 2010-05-01 DOI: 10.17256/JER.2010.15.1.004
Ki Seong Park, Donggyun Shin
{"title":"How Do Families Smooth Household Heads' Earnings Volatility?","authors":"Ki Seong Park, Donggyun Shin","doi":"10.17256/JER.2010.15.1.004","DOIUrl":"https://doi.org/10.17256/JER.2010.15.1.004","url":null,"abstract":"We investigate the extent to which household heads' earnings volatility is translated into household consumption volatility, and, in the process, identify measures of smoothing idiosyncratic earnings variation. Analysis, based on the Korea Labor & Income Panel Study (KLIPS) data, reveals that volatility of heads' earnings is almost entirely smoothed. The most effective measure of smoothing heads' earnings volatility is income from self-employment, with the next most effective being labor income of other family members. Put together, 73 percent of heads' earnings volatility is smoothed by these two measures of Within-family 'income pooling.' Unlike many studies dealing with a similar issue in the United States labor market, government plays virtually no role in smoothing volatility in the Korean labor market. All these observations are still preserved even when we consider various types of endogeneity of earnings' changes. Additional analysis finds that consumption as well as income volatility is countercyclical, even skilled workers experience large earnings volatility, and both hours and wage volatilities are substantial contributors to heads' earnings volatility.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"15 1","pages":"79-97"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85581264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Extensive Robustness of Large Games with a Continuum of Players 具有连续参与者的大型博弈的广泛鲁棒性
International journal of economic research Pub Date : 2010-05-01 DOI: 10.17256/JER.2010.15.1.003
S. Kim
{"title":"Extensive Robustness of Large Games with a Continuum of Players","authors":"S. Kim","doi":"10.17256/JER.2010.15.1.003","DOIUrl":"https://doi.org/10.17256/JER.2010.15.1.003","url":null,"abstract":"'We present a model of Bayesian games with a continuum of players and prove that pure strategy Bayesian Nash equilibria exist and are extensively robust. This extends Kalai's (2004) approximate extensive robustness results to the limiting continuum model and highlights the roles played by key assumptions such as semi-anonymity and independence of type distributions.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"399 1","pages":"53-78"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87976379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
The effect of bundling on the stable coalition in the composite goods market 捆绑对复合商品市场稳定联盟的影响
International journal of economic research Pub Date : 2009-11-01 DOI: 10.17256/JER.2009.14.3.003
Tae Eui Lee, G. Wang
{"title":"The effect of bundling on the stable coalition in the composite goods market","authors":"Tae Eui Lee, G. Wang","doi":"10.17256/JER.2009.14.3.003","DOIUrl":"https://doi.org/10.17256/JER.2009.14.3.003","url":null,"abstract":"","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"28 1","pages":"309-328"},"PeriodicalIF":0.0,"publicationDate":"2009-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81568846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Testing for risk spillover between stock market and foreign exchange market in Korea 韩国股市和外汇市场的风险溢出检验
International journal of economic research Pub Date : 2009-11-01 DOI: 10.17256/JER.2009.14.3.004
Hangyong Lee, Jin Lee
{"title":"Testing for risk spillover between stock market and foreign exchange market in Korea","authors":"Hangyong Lee, Jin Lee","doi":"10.17256/JER.2009.14.3.004","DOIUrl":"https://doi.org/10.17256/JER.2009.14.3.004","url":null,"abstract":"","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"58 1","pages":"329-340"},"PeriodicalIF":0.0,"publicationDate":"2009-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74768191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 17
The technological level of exports and economic growth 出口技术水平与经济增长
International journal of economic research Pub Date : 2009-11-01 DOI: 10.17256/JER.2009.14.3.002
Jong－il Kim
{"title":"The technological level of exports and economic growth","authors":"Jong－il Kim","doi":"10.17256/JER.2009.14.3.002","DOIUrl":"https://doi.org/10.17256/JER.2009.14.3.002","url":null,"abstract":"","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"34 1","pages":"285-308"},"PeriodicalIF":0.0,"publicationDate":"2009-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78000622","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Bayesian Methods for TFP Analysis of a Multi-Region Economy with Dynamic Structure and Application to Japan 动态结构多区域经济全要素生产率分析的贝叶斯方法及其在日本的应用
International journal of economic research Pub Date : 2009-08-01 DOI: 10.17256/JER.2009.14.2.002
Hideo Noda, Koki Kyo
{"title":"Bayesian Methods for TFP Analysis of a Multi-Region Economy with Dynamic Structure and Application to Japan","authors":"Hideo Noda, Koki Kyo","doi":"10.17256/JER.2009.14.2.002","DOIUrl":"https://doi.org/10.17256/JER.2009.14.2.002","url":null,"abstract":"In this paper, we present the Bayesian methods for total factor productivity (TFP) analysis of a multi-region economy with dynamic structure. Conventional approaches to the empirical analysis of regional economic growth are incapable of providing an appropriate description of the behavior of TFP. Accordingly, we introduce a set of Bayesian statistical models based on regional production functions. In our framework, TFP is regarded as a time-varying parameter, and is estimated using a Bayesian smoothness priors approach. Compared with conventional approaches, this application of a Bayesian method makes it possible to analyze the behavior of TFP in detail. In addition, we take into account the fact that elasticity of output with respect to factors of production may vary across regions, implying a structural heterogeneity among the regions. Further, the possibility of structural changes in regional economies is incorporated. As an empirical application, we present the results for an analysis of Japanese prefectural data.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"173 1","pages":"151-195"},"PeriodicalIF":0.0,"publicationDate":"2009-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76039586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
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：604180095
Book学术官方微信