Working Papers 2013

01-13: EMPLOYMENT REALLOCATION AND UNEMPLOYMENT REVISITED: A QUANTILE REGRESSION APPROACH, Theodore Panagiotidis, Gianluigi Pelloni 

02-13: PRODUCTIVITY GROWTH AND VOLATILITY: HOW IMPORTANT ARE WAGE AND PRICE RIGIDITIES?, Barbara Annicchiarico, Alessandra Pelloni 

03-13: DOES CENTRAL BANK INDEPENDENCE REALLY MATTER? RE-ASSESSING THE ROLE OF THE INDEPENDENCE OF MONETARY POLICYMAKERS IN MACROECONOMIC OUTCOMES, Athina Zervoyianni, Athanasios Anastasiou, Andreas Anastasiou 

04-13: COMPARISON OF SIMPLE SUM AND DIVISIA MONETARY AGGREGATES IN GDP FORECASTING: A SUPPORT VECTOR MACHINES APPROACH, Periklis Gogas, Theophilos Papadimitriou, Elvira Takli 

05-13: SPATIAL SYSTEM ESTIMATORS FOR PANEL MODELS: A SENSITIVITY AND SIMULATION STUDY, Shuangzhe Liu, Tiefeng Ma, Wolfgang Polasek 

06-13: BACKGROUND RISK OF FOOD INSECURITY AND INSURANCE BEHAVIOUR: EVIDENCE FROM THE WEST BANK, Elisa Cavatorta, Luca Pieroni 

07-13: ASYMMETRIC FISCAL POLICY SHOCKS, Periklis Gogas, Ioannis Pragidis 

08-13: SOVEREIGN CONTAGION IN EUROPE: EVIDENCE FROM THE CDS MARKET, Paolo Manasse, Luca Zavalloni 

09-13: ENTREPRENEURIAL UNDER-DIVERSIFICATION: OVER OPTIMISM AND OVERCONFIDENCE, Enrico Maria Cervellati, Pierpaolo Pattitoni, Marco Savioli

10-13: A NOTE ON THE EXTENT OF US REGIONAL INCOME CONVERGENCE, Mark J. Holmes, Jesús Otero, Theodore Panagiotidis 

11-13: ON THE OPTIMAL TIMING OF SWITCHING FROM NON-RENEWABLE TO RENEWABLE RESOURCES: DIRTY VS CLEAN ENERGY SOURCES AND THE RELATIVE EFFICIENCY OF GENERATORS, Elettra Agliardi, Luigi Sereno 

12-13: A NEW INDEX OF ENVIRONMENTAL QUALITY BASED ON GREENHOUSE GAS EMISSIONS, Elettra Agliardi, Mehmet Pinar, Thanasis Stengos 

13-13: INCOME DISTRIBUTION IN NETWORK MARKETS, Corrado Benassi, Marcella Scrimitore 

14-13: PUBLIC AND PRIVATE DYNAMICS AND CO-OPETITION: EVIDENCE FROM THE TOURISM SECTOR, Mika Kylänen, Marcello M. Mariani 

15-13: EDUCATION POLICY AND INTERGENERATIONAL TRANSFERS IN EQUILIBRIUM, Brant Abbott, Giovanni Gallipoli, Costas Meghir, Giovanni L. Violante 

16-13: MODELLING THE FISCAL REACTION FUNCTIONS OF THE GIPS BASED ON STATE-VARYING THRESHOLDS, Gabriella Legrenzi, Costas Milas 

17-13: CORRUPTION, PUBLIC EXPENDITURE, AND HUMAN CAPITAL ACCUMULATION, Spyridon Koikos 

18-13: BUSINESS CYCLE SYNCHRONIZATION IN THE EUROPEAN UNION: THE EFFECT OF THE COMMON CURRENCY, Periklis Gogas 

19-13: HETEROGENEOUS CONVERGENCE, Andrew T. Young, Matthew J. Higgins, Daniel Levy 

20-13: SHRINKING GOODS, Daniel Levy, Avichai Snir 

21-13: DECOUPLING AND THE SPILLOVER EFFECTS OF THE US FINANCIAL CRISIS: EVIDENCE FROM THE BRIC MARKETS, Stelios D. Bekiros 

22-13: BAYESIAN FORECASTING WITH A FACTOR-AUGMENTED VECTOR AUTOREGRESSIVE DSGE MODEL, Stelios D. Bekiros, Alessia Paccagnini 

23-13: FORECAST EVALUATIONS FOR MULTIPLE TIME SERIES: A GENERALIZED THEIL DECOMPOSITION, Wolfgang Polasek 

24-13: GEOGRAPHY, PRODUCTIVITY AND TRADE: DOES SELECTION EXPLAIN WHY SOME LOCATIONS ARE MORE PRODUCTIVE THAN OTHERS?, Antonio Accetturo, Valter Di Giacinto, Giacinto Micucci, Marcello Pagnini 

25-13: EXPLORATION FOR NONRENEWABLE RESOURCES IN A DYNAMIC OLIGOPOLY: AN ARROVIAN RESULT, Luca Lambertini 

26-13: LABOR REALLOCATION: PANEL EVIDENCE FROM U.S. STATES, Dimitrios Bakas, Theodore Panagiotidis, Gianluigi Pelloni

27-13: ORGANIZATIONAL STRUCTURE AND THE CHOICE OF PRICE VS. QUANTITY IN A MIXED DUOPOLY, Alessandra Chirco, Caterina Colombo, Marcella Scrimitore 

28-13: BAYESIAN INFERENCE OF ASYMMETRIC STOCHASTIC CONDITIONAL DURATION MODELS, Zhongxian Men, Adam W. Kolkiewicz, Tony S. Wirjanto 

29-13: STOCHASTIC CONDITIONAL DURATION MODELS WITH MIXTURE PROCESSES, Tony S. Wirjanto, Adam W. Kolkiewicz, Zhongxian Men

30-13: A THRESHOLD STOCHASTIC CONDITIONAL DURATION MODEL FOR FINANCIAL TRANSACTION DATA, Zhongxian Men, Tony S. Wirjanto, Adam W. Kolkiewicz

31-13: UNCERTAINTY, UNEMPLOYMENT INSURANCE, INDIVIDUAL’S OPTIMAL STOPPING TIME AND DURATION OF UNEMPLOYMENT, Tan Wang, Tony S. Wirjanto

32-13: CAPITAL CONSTRAINTS AND THE PERFORMANCE OF ENTREPRENEURIAL FIRMS IN VIETNAM, Hien Thu Tran, Enrico Santarelli 

33-13: GOVERNMENT FISCAL EFFORTS VS. LABOUR UNION STRIKES: IT TAKES TWO TO TANGO, Massimiliano Castellani, Luca Fanelli, Marco Savioli 

34-13: THE EFFECT OF MAFIA ON PUBLIC TRANSFERS, Guglielmo Barone, Gaia Narciso

35-13: THE FLYING DUTCHMEN: RECENT TRENDS IN INTERNATIONAL TOURISM FROM THE NETHERLANDS, Lorenzo Zirulia 

36-13: STRATEGIC POSITIONING OF GOODS IN A MARKET WITH A NICHE, Eleftherios Zacharias 

37-13: MACROECONOMIC EFFECTS OF JOB REALLOCATIONS: A SURVEY, Giovanni Gallipoli, Gianluigi Pelloni 

38-13: STUDENT LOANS AND THE ALLOCATION OF GRADUATE JOBS, Alessandro Cigno, Annalisa Luporini 

39-13: MODELLING THE BEHAVIOUR OF UNEMPLOYMENT RATES IN THE US OVER TIME AND ACROSS SPACE, Mark J. Holmes, Jesús Otero, Theodore Panagiotidis 

40-13: JOHN VON NEUMANN BETWEEN PHYSICS AND ECONOMICS: A METHODOLOGICAL NOTE, Luca Lambertini 

41-13: NATIONAL SENTIMENT AND CONSUMER CHOICE: THE IRAQ WAR AND SALES OF US PRODUCTS IN ARAB COUNTRIES, Sofronis Clerides, Peter Davis, Antonis Michis 

42-13: STATE INCENTIVES FOR INNOVATION, STAR SCIENTISTS AND JOBS: EVIDENCE FROM BIOTECH, Enrico Moretti, Daniel J. Wilson 

43-13: LOCAL ECONOMIC DEVELOPMENT, AGGLOMERATION ECONOMIES AND THE BIG PUSH: 100 YEARS OF EVIDENCE FROM THE TENNESSEE VALLEY AUTHORITY, Patrick Kline, Enrico Moretti 

44-13: A TALE OF TWO COUNTRIES AND TWO BOOMS, CANADA AND THE UNITED STATES IN THE 1920S AND THE 2000S: THE ROLES OF MONETARY AND FINANCIAL STABILITY POLICIES, Ehsan U. Choudhri, Lawrence L. Schembri 

45-13: PRODUCTIVITY, COMMODITY PRICES AND THE REAL EXCHANGE RATE: THE LONG-RUN BEHAVIOR OF THE CANADA-US EXCHANGE RATE, Ehsan U. Choudhri, Lawrence L. Schembri 

46-13: MIXED DATA KERNEL COPULAS, Jeffrey S. Racine 

47-13: RISK PREFERENCES AND ESTIMATION RISK IN PORTFOLIO CHOICE, Hao Liu, Winfried Pohlmeier 

48-13: ON THE STATIONARITY OF PER CAPITA CARBON DIOXIDE EMISSIONS OVER A CENTURY, Maria Christidou, Theodore Panagiotidis, Abhijit Sharma 

49-13: EXPLICIT EVIDENCE OF AN IMPLICIT CONTRACT, Andrew T. Young, Daniel Levy

50-13: SPATIAL PANEL DATA FORECASTING OVER DIFFERENT HORIZONS, CROSS-SECTIONAL AND TEMPORAL DIMENSIONS, Matías Mayor, Roberto Patuelli

51-13: REGIONAL AGE STRUCTURE, HUMAN CAPITAL AND INNOVATION – IS DEMOGRAPHIC AGING INCREASING REGIONAL DISPARITIES?, Terry Gregory, Roberto Patuelli

52-13: ROBUST MULTIPLE REGIMES IN GROWTH VOLATILITY, Andros Kourtellos, Ioanna Stylianou, Chih Ming Tan

53-13: GROWTH, DEFICITS AND UNCERTAINTY: THEORETICAL ASPECTS AND EMPIRICAL EVIDENCE, Eleftherios Goulas, Athina Zervoyianni

54-13: THE GROWTH-CRIME RELATIONSHIP: ARE THERE ANY ASYMMETRIES?, Eleftherios Goulas, Athina Zervoyianni

55-13: THE ROLE OF FOREIGN DIRECT INVESTMENT (FDI) IN A DUALISTIC GROWTH FRAMEWORK: AN APPLICATION OF SMOOTH COEFFICIENT SEMI-PARAMETRIC APPROACH, Aurangzeb Zeb, Thanasis Stengos

56-13: FEEDBACK EQUILIBRIA IN A DYNAMIC RENEWABLE RESOURCE OLIGOPOLY: PRE-EMPION, VORACITY AND EXAHUSTION, Luca Lambertini, Andrea Mantovani

57-13: DEFENSIVE WEAPONS AND STARS WARS: A SUPERGAME WITH OPTIMAL PUNISHMENTS, Giampiero Giacomello, Luca Lambertini

58-13: A SOVEREIGN RISK INDEX FOR THE EUROZONE BASED ON STOCHASTIC DOMINANCE, Elettra Agliardi, Mehmet Pinar, Thanasis Stengos

59-13: FORECASTING THE NOK/USD EXCHANGE RATE WITH MACHINE LEARNING TECHNIQUES, Theophilos Papadimitriou, Periklis Gogas, Vasilios Plakandaras 

60-13: FORECASTING BANK CREDIT RATINGS, Periklis Gogas, Theophilos Papadimitriou, Anna Agrapetidou

61-13: PRICING FINANCIAL DERIVATIVES BY GRAM-CHARLIER EXPANSIONS, Yin-Hei (Michael) Cheng, Tony S. Wirjanto 

62-13: THE IMPACTS OF FINANCIAL CRISIS ON SOVEREIGN CREDIT RISK ANALYSIS IN ASIA AND EUROPE, Min Zhang, Adam W. Kolkiewicz, Tony S. Wirjanto, Xindan Li

63-13: BAYESIAN INFERENCE OF MULTISCALE STOCHASTIC CONDITIONAL DURATION MODELS, Zhongxian Men, Tony S. Wirjanto, Adam W. Kolkiewicz 

64-13: GROWTH, DE-REGULATION AND RENT-SEEKING IN POST-WAR BRITISH ECONOMY, Shanti P. Chakravarty, Dimitrios D. Thomakos, Kostas Nikolopoulos 

65-13: THE BALTIC DRY INDEX: CYCLICALITIES, FORECASTING AND HEDGING STRATEGIES, Fotis Papailias, Dimitrios D. Thomakos 

66-13: COVARIANCE AVERAGING FOR IMPROVED ESTIMATION AND PORTFOLIO ALLOCATION, Dimitrios D. Thomakos, Fotis Papailias 

67-13: DETERMINANTS OF SYSTEMIC RISK AND INFORMATION DISSEMINATION, Marcelo Bianconi, Xiaxin Hua, Chih Ming Tan