Working Papers 2007

01_07: “TEMPORAL DISTRIBUTION OF PRICE CHANGES: STAGGERING IN THE LARGE AND SYNCHRONIZATION IN THE SMALL”, Emmanuel Dhyne and Jerzy Konieczny.

02_07: “BAYESIAN INFERENCE IN A COINTEGRATING PANEL DATA MODEL”, Gary Koop, Roberto Leon-Gonzalez and Rodney Strachan

03_07: “THE EFFECT OF INFORMATION TECHNOLOGY AND UMAN CAPITAL ON ECONOMIC GROWTH”, Elena Ketteni, Theofanis Mamuneas and  Thanasis Stengos

04_07: “PRICE POINTS AND PRICE RIGIDITY”, Daniel Levy, Dongwon Lee, Aipeng (Allan) Chen, Robert J. Kauffman and Mark Berger

05_07: “LEGAL INSTITUTIONS, SECTORAL HETEROGENEITY, AND ECONOMIC DEVELOPMENT”, Rui Castro, Gian Luca Clementi and Glenn MacDonald

06_07: “NON-LINEARITY IN THE CANADIAN AND US LABOUR MARKETS: UNIVARIATE AND MULTIVARIATE EVIDENCE FROM A BATTERY OF TESTS”, Theodore Panagiotidis and Gianluigi Pelloni

07_07: “ASSET PRICING IN A PRODUCTION ECONOMY WITH CHEW-DEKEL PREFERENCES”, Claudio Campanale, Rui Castro and Gian Luca Clementi

08_07:  “TECHNOLOGICAL SPILLOVERS AND PRODUCTIVITY IN ITALIAN MANUFACTURING”, Giuseppe Medda and Claudio A. Piga

09_07: “(S,S)-ADJUSTMENT STRATEGIES AND DYNAMIC HEDGING”, Elettra Agliardi and Rainer Andergassen

10_07: “LONG TERM REGIONAL FORECASTING WITH SPATIAL EQUATION SYSTEMS”, Wolfgang Polasek, Richard Sellner and Wolfgang Schwarzbauer

11_07: “NO TAXATION WITHOUT INFRASTRUCTURE”, Stefan Gruber and Luigi Marattin

12_07: “THE POST-CRISIS SEQUENCING OF ECONOMIC INTEGRATION IN ASIA: TRADE AS A COMPLEMENT TO A MONETARY FUTURE”, Michael G. Plummer and Ganeshan Wignaraja

13_07: GERMAN WORKS COUNCILS AND THE ANATOMY OF WAGES, John T. Addison, Paulino Teixeira and Thomas Zwick

14_07: “POST-SECONDARY EDUCATION IN CANADA:CAN ABILITY BIAS EXPLAINTHE EARNINGS GAP BETWEEN COLLEGE AND UNIVERSITY GRADUATES?” , Vincenzo Caponi and Miana Plesca

15_07: “EDUCATION AND CRIME OVER THE LIFE CYCLE”, Giulio Fella and Giovanni Gallipoli

16_07: “THE RISE OF A SERVICE-BASED ECONOMY AND ITS TRANSFORMATION: THE CASE OF RIMINI” , Patrizia Battilani and Francesca Fauri

17_07: “PRIOR ELICITATION IN MULTIPLE CHANGE-POINT MODELS”, Gary Koopy and Simon M. Potter

18_07: “EURO AREA INFLATION PERSISTENCE IN AN ESTIMATED NONLINEAR DSGE MODEL”, Gianni Amisano and Oreste Tristani

19_07: “HOW USEFUL ARE HISTORICAL DATA FOR FORECASTING THE LONG-RUN EQUITY RETURN DISTRIBUTION?”, John M. Maheu and Thomas H. McCurdy

20_07: “INTERGENERATIONAL TRANSMISSIONOF ABILITIES AND SELF SELECTIONOF OF MEXICAN IMMIGRANTS”, Vincenzo Caponi

21_07: “VOTES OR MONEY? THEORY AND EVIDENCE FROM THE U.S. CONGRESS”, Matilde Bombardini and Francesco Trebbi 

22_07: “DEMOGRAPHIC VS EXPENDITURE FLEXIBILITY IN ENGEL CURVES”, Panayiota Lyssiotou, Panos Pashardes and Thanasis Stengos

23_07: “THE ABSOLUTE HEALTH INCOME HYPOTHESIS REVISITED: SEMIPARAMETRIC QUANTILE EGRESSION APPROACH”, Yiguo Sun and Thanasis Stengos

24_07: “INFORMATION-THEORETIC DISTRIBUTION TEST WITH APPLICATION TO NORMALITY”, Thanasis Stengos and Ximing Wu 

25_07: “DOES HIGH M4 MONEY GROWTH TRIGGER LARGE INCREASES IN UK INFLATION? EVIDENCE FROM A REGIME-SWITCHING MODEL”, Costas Milas

26_07: WHAT IS THE ENVIRONMENTAL PERFORMANCE OF FIRMS OVERSEAS?: AN EMPIRICAL INVESTIGATION OF THE GLOBAL GOLD MINING INDUSTRY, Gary Koop and Lise Tole

27_07: “ARE INFLATION EXPECTATIONS RATIONAL?”, David Andolfatto, Scott Hendry and Kevin Moran

28_07: “ARE GOOD INDUSTRIAL RELATIONS GOOD FOR THE ECONOMY?”, John T. Addison and Paulino Teixeira

29-07: “PROGRESSIVE TAXATION AND CORPORATE LIQUIDATION: ANALYSIS AND POLICY IMPLICATIONS”, Elettra Agliardi and Rossella Agliardi

30_07: “CREDIT RISK AND BASEL II: RE NON-PROFIT FIRMS FINANCIALLY DIFFERENT?”, Barbara Luppi, Massimiliano Manzo and Antonello E. Scorcu

31_07: “LAST RESORT GAMBLES, RISKY DEBT AND LIQUIDATION POLICY”, Elettra Agliardi and Rainer Andergassen

32_07:  “ASSET PRICES AS INDICATORS OF EURO AREA MONETARY POLICY: AN EMPIRICAL ASSESSMENT OF THEIR ROLE IN A TAYLOR RULE*”, Pierre L. Siklos and Martin T. Bohl

33_07: “THE FED’S REACTION TO THE STOCK MARKET DURING THE GREAT DEPRESSION: FACT OR ARTEFACT?”, Pierre L. Siklos

34_07: “IDENTIFYING THE SHOCKS DRIVING INFLATION IN CHINA*”, Pierre L. Siklos and Yang Zhang

35_07: “POLICY WORDS AND POLICY DEEDS: THE ECB AND THE EURO*”, Pierre L. Siklos and Martin T. Bohl

36_07: “MONETARY POLICY AND THE HYBRID PHILLIPS CURVE”, Christopher Martin and Costas Milas  

37_07: “THE COMPLEX RESPONSE OF MONETARY POLICY TO THE EXCHANGE RATE”, Ram Sharan Kharel , Christopher Martin and Costas Milas

38_07: “ON THE EFFICIENCY AND CONSISTENCY OF LIKELIHOOD ESTIMATION IN MULTIVARIATE CONDITIONALLY HETEROSKEDASTIC DYNAMIC REGRESSION MODELS”, Gabriele Fiorentini and Enrique Sentana

39_07: “THE IMPLICATIONS OF INFORMATION LAGS FOR THE STABILIZATION BIAS AND OPTIMAL DELEGATION”, Jean-Paul Lam and Florian Pelgrin

40_07: “INDIRECT ESTIMATION OF LARGE CONDITIONALLY HETEROSKEDASTIC ACTOR MODELS, WITH AN APPLICATION O THE DOW 30 STOCKS”, Gabriele Fiorentini, Giorgio Calzolari and Enrique Sentana

41_07: “THE SUSTAINABILITY OF INDIA’S CURRENT ACCOUNT”, Mark J. Holmes, Theodore Panagiotidis and Abhijit Sharma 

42_07: “CONSUMER CONFIDENCE ND ELECTIONS”, Gikas A. Hardouvelis and Dimitrios D. Thomakos

43_07: “INFLATION DYNAMICS AND THE CROSS-SECTIONAL DISTRIBUTION OF PRICES IN THE E.U. PERIPHERY”, Constantina Kottaridi, Diego Méndez-Carbajo and Dimitrios D. Thomakos

44_07: “NOVAS TRANSFORMATIONS: FLEXIBLE INFERENCE FOR VOLATILITY FORECASTING”, Dimitris N. Politis and Dimitrios D. Thomakos 

45_07: “INFORMATION IN BALANCE SHEETS FOR FUTURE STOCK RETURNS: EVIDENCE FROM NET OPERATING ASSETS”, George Papanastasopoulos, Dimitrios Thomakos and Tao Wang

46_07: “THE IMPLICATIONS OF RETAINED AND DISTRIBUTED EARNINGS FOR FUTURE PROFITABILITY AND MARKET MISPRICING”, George Papanastasopoulos, Dimitrios Thomakos and Tao Wang

47_07: “ACCRUALS, NET STOCK ISSUES AND VALUE-GLAMOUR ANOMALIES: NEW EVIDENCE ON THEIR RELATION”, Gikas Hardouvelis, George Papanastasopoulos, Dimitrios Thomakos and Tao Wang

48_07: “DYNAMIC ADVERTISING WITH SPILLOVERS: ARTEL VS COMPETITIVE FRINGE”, Luca Lambertini and Arsen Palestini 

49_07: “OUT-OF-SAMPLE FORECASTING OF UNEMPLOYMENT RATES WITH POOLED STVECM FORECASTS”, Costas Milas and Philip Rothman

50_07: “SECOND HOMES VS. HOTELS:  A SUGGESTION FOR A SELF-ENFORCING POLICY”, Guido Candela, Massimiliano Castellani and Maurizio Mussoni

51_07: “ASSESSING VISITOR SATISFACTION WITH TOURISM REJUVENATION POLICIES: THE CASE OF RIMINI, ITALY”, Rinaldo Brau, Antonello E. Scorcu and Laura Vici