- Subscribe to this page:
- RSS
- Email Alert
University of Manchester
(184 results)-
White Papers
Macroeconomic Uncertainty, Inflation And Growth: Regime-Dependent Effects In The G7
July 1, 2010, 12:00am PDT
The authors analyze the causal effects of real and nominal macroeconomic uncertainty on inflation and output growth and examine whether these effects vary with the level of inflation and location...
Provided by University of Manchester
-
White Papers
Financial Dollarization And European Union Membership
June 1, 2010, 12:00am PDT
The authors analyze the effect of European Union (EU) membership on financial dollarization for the Central and Eastern European countries. Using a unique monthly dataset that spans about two...
Provided by University of Manchester
-
White Papers
Intermediation Costs And Welfare
May 1, 2010, 12:00am PDT
This paper studies quantitatively how intermediation costs affect household consumption loans and welfare. Agents face uninsurable idiosyncratic shocks to labor productivity in a production...
Provided by University of Manchester
-
White Papers
A Threshold Cointegration Analysis Of Interest Rate Passthrough To UK Mortgage Rates
May 1, 2010, 12:00am PDT
This paper empirically analyses the interest rate transmission mechanism in the United Kingdom by exploring the pass-through of the official rate to the money market rate and of the market rate to...
Provided by University of Manchester
-
White Papers
Corruption In Public Finances, And The Effects On Inflation, Taxation, And Growth
May 1, 2010, 12:00am PDT
In this paper, the authors study the effects of bureaucratic corruption on inflation, taxation, and growth. Here corruption takes three forms: it reduces the tax revenues that are raised from...
Provided by University of Manchester
-
White Papers
Humanitarian Aid, Fertility, And Economic Growth
May 1, 2010, 12:00am PDT
This paper examines the effect of humanitarian aid on the rates of fertility and economic growth in recipient countries. The authors develop a two-period overlapping generations model where...
Provided by University of Manchester
-
White Papers
Tax Evasion, The Underground Economy And Financial Development
May 1, 2010, 12:00am PDT
The authors study the relationship between the underground economy and financial development in a model of tax evasion and bank intermediation. Agents with heterogenous skills seek loans in order...
Provided by University of Manchester
-
White Papers
Growth And Development Under Alternative Corruption Regimes
May 1, 2010, 12:00am PDT
Empirical observation suggests that not all countries of the world have suffered as a result of widespread corruption. The analysis that follows seeks to provide an explanation for this puzzle. It...
Provided by University of Manchester
-
White Papers
Tracking Unemployment In The North West Through Recession And Forecasting Recovery
March 1, 2010, 12:00am PST
This paper applies a business cycle dating algorithm to monthly North West county and local authority district claimant count data to assess turning points in the economic cycle of sub-regions....
Provided by University of Manchester
-
White Papers
Innovation, Public Capital, And Growth
February 26, 2010, 12:00am PST
This paper studies interactions between public capital, human capital, and innovation in a three-period OLG model of endogenous growth. Public capital affects growth not only through productivity,...
Provided by University of Manchester
-
White Papers
Asymptotic Distribution Theory For Break Point Estimators In Models Estimated Via 2SLS
February 10, 2010, 12:00am PST
In this paper, the authors present a limiting distribution theory for the break point estimator in a linear regression model with multiple structural breaks obtained by minimizing a Two Stage...
Provided by University of Manchester
-
White Papers
Changes In International Business Cycle Affiliations
December 1, 2009, 12:00am PST
The authors develop a model of occupational choice in which private agents have the option of either working in some costless, but low-yielding, activity (subsistence production), or undertaking a...
Provided by University of Manchester
-
White Papers
Catching-up, Then Falling Behind: Comparative Productivity Growth between Spain And The United Kingdom, 1950-2004
December 1, 2009, 12:00am PST
The pattern of Spanish comparative labor productivity performance in the period 1950-2004 is underpinned by distinctive sectoral trends. From 1950 until the mid-1970s, Spain narrowed the aggregate...
Provided by University of Manchester
-
White Papers
A Fair Wage Model Of Unemployment With Inertia In Fairness Perceptions
December 1, 2009, 12:00am PST
Theories of psychology and empirical evidence suggest that the reference transactions against which workers judge fairness exhibit inertia. This paper shows that a fair-wage model with inertia in...
Provided by University of Manchester
-
White Papers
Coping With Uncertainty: Historical And Real-Time Estimates Of The Natural Unemployment Rate And The UK Monetary Policy
November 1, 2009, 12:00am PDT
The paper derives and compares historical and real-time estimates of the UK natural unemployment rate and shows that real-time estimates are fraught with noise and should be treated with...
Provided by University of Manchester
-
White Papers
Entrepreneurs, Legal Institutions And Firm Dynamics
October 21, 2009, 12:00am PDT
This paper assesses quantitatively the impact of legal institutions on entrepreneurial firm dynamics. Owners choose firm size, financial structure and default to manage risk. The authors find:...
Provided by University of Manchester
-
White Papers
Information Criteria For Impulse Response Function Matching Estimation Of DSGE Models
October 1, 2009, 12:00am PDT
The authors propose new information criteria for Impulse Response Function Matching Estimators (IRFMEs). These estimators yield sampling distributions of the structural parameters of Dynamic...
Provided by University of Manchester
-
White Papers
Estimation And Inference In Unstable Nonlinear Least Squares Models
October 5, 2009, 12:00am PDT
In this paper, the authors extend Bai and Perron's (1998, Econometrica, pp. 47- 78) method for detecting multiple breaks to nonlinear models. To that end, they consider a nonlinear model that can...
Provided by University of Manchester
-
White Papers
Inference Regarding Multiple Structural Changes In Linear Models With Endogenous Regressors
October 1, 2009, 12:00am PDT
This paper considers estimation and inference within a linear model with endogenous regressors and multiple changes in the parameters at unknown times. It is shown that estimation via a...
Provided by University of Manchester
-
White Papers
Non-Labor Unit Costs, Marginal Costs And The New
September 14, 2009, 12:00am PDT
This paper considers the role of non-labor unit costs in estimating the New Keynesian Phillips Curve (NKPC). The authors show that the theory-based marginal cost of a firm is a function of both...
Provided by University of Manchester
-
White Papers
Monetary Policy And Real Wage Cyclicality
December 1, 2009, 12:00am PST
This paper points to the potential role of monetary policy in affecting real wage cyclicality. The authors show that other things kept equal, the degree and direction of real wage cyclicality is...
Provided by University of Manchester
-
White Papers
Modelling International Linkages For Large Open Economies: US And Euro Area
September 1, 2009, 12:00am PDT
Empirical modeling of the international linkages between the Euro Area and the US requires an open economy specification. This paper proposes and implements a structural VECM framework which...
Provided by University of Manchester
-
White Papers
Common And Spatial Drivers In Regional Business Cycles
April 1, 2009, 12:00am PDT
The authors examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model with spatial correlation indicate that the relevance of common...
Provided by University of Manchester
-
White Papers
Escape Dynamics And Policy Specification
March 1, 2009, 12:00am PST
In his monograph The conquest of American inflation (1999) Sargent suggests that the sharp reduction in US inflation that took place under Volker may vindicate the type of econometric policy...
Provided by University of Manchester
-
White Papers
Public Capital, Health Persistence And Poverty Traps
February 23, 2009, 12:00am PST
Growth dynamics and health outcomes are studied in a threeperiod overlapping generations model with public capital. Reproductive agents face a non-zero probability of death in both childhood and...
Provided by University of Manchester
-
White Papers
Fiscal Transparency And Corruption
February 1, 2009, 12:00am PST
This paper tests the proposition that fiscal transparency, measured by a newly constructed data on budget openness, can be a powerful control on corruption. This result is robust to the choice of...
Provided by University of Manchester
-
White Papers
Financial Dollarization: Short-Run Determinants In Transition Economies
February 1, 2009, 12:00am PST
This paper examines the determinants of financial dollarization in transition economies from a short-run perspective. Using monthly data of deposit and loan dollarization the authors study the...
Provided by University of Manchester
-
White Papers
Expectations, Learning And Policy Rule
January 1, 2009, 12:00am PST
The optimal discretionary policy rule in the New Keynesian forward looking model under the hypothesis of rational expectations responds only to fundamental shocks. This leads to indeterminacy of...
Provided by University of Manchester
-
White Papers
Public Investment And Growth: The Role Of Corruption
February 1, 2008, 12:00am PST
In this paper, the authors examine the growth effects of public investment in the presence of corruption. The methodology improves on previous research on this topic by explicitly recognizing the...
Provided by University of Manchester
-
White Papers
Is Volatility Good For Growth? Evidence From The G7
February 6, 2008, 12:00am PST
The authors provide empirical support for a DSGE model with nominal wage stickiness where growth is driven by learning-by-doing and money shocks and their variance are allowed to impact on...
Provided by University of Manchester
-
White Papers
Co-Movements Between US And UK Stock Prices: The Roles Of Macroeconomic Information And Time-Varying Conditional Correlations
February 4, 2008, 12:00am PST
The authors provide evidence on the sources of co-movement in monthly US and UK stock returns by investigating the role of macroeconomic and financial variables in a model with time-varying...
Provided by University of Manchester
-
White Papers
Aid Allocation, Growth And Welfare With Productive Public Goods
January 19, 2008, 12:00am PST
This paper develops an open-economy intertemporal growth model with endogenous relative prices and an imperfect world capital market. The government provides two categories of public services,...
Provided by University of Manchester
-
White Papers
Contracting Models Of The Phillips Curve Empirical Estimates For Middle-Income Countries
January 19, 2008, 12:00am PST
This paper provides empirical estimates of contracting models of the Phillips curve for eight middle-income developing countries (Chile, Colombia, Korea, Malaysia, Mexico, Morocco, Tunisia, and...
Provided by University of Manchester
-
White Papers
The UK Intranational Trade Cycle
December 1, 2008, 12:00am PST
The paper uses annual data on real GDP for the UK regions and 12 manufacturing sectors to derive regional and regional/sectoral business cycles using an H-P filter. The cohesion of the cycles is...
Provided by University of Manchester
-
White Papers
Public And Private Maintenance Expenditure In A Growing Economy
October 1, 2008, 12:00am PDT
This paper studies the optimal taxation structure and public maintenance spending in an endogenous growth model where public maintenance spending effect the efficiency of public and private...
Provided by University of Manchester
-
White Papers
On The Macroeconomics Of Microfinance
September 1, 2008, 12:00am PDT
Microfinance (small scale lending to the poor) is integrated into a dynamic macroeconomic model of income distribution. Two-period-lived agents, belonging to overlapping generation of dynastic...
Provided by University of Manchester
-
White Papers
Excess Liquidity, Bank Pricing Rules, And Monetary Policy
September 9, 2008, 12:00am PDT
This paper analyzes the implications of excess bank liquidity for the effectiveness of monetary policy in a simple model with credit market imperfections. Lending rates are set as a premium over...
Provided by University of Manchester
-
White Papers
Fundamentalists Vs. Chartists: Learning And Predictor Choice Dynamics
September 1, 2008, 12:00am PDT
In a simple, forward looking univariate model of price determination the authors investigate the evolution of endogenous predictor choice dynamics in presence of two types of agents:...
Provided by University of Manchester
-
White Papers
The Intranational Business Cycle: Evidence From Japan
January 1, 2008, 12:00am PST
This paper studies the intranational business cycle - that is the set of regional (prefecture) business cycles - in Japan. One reason for choosing to examine the Japanese case is that long time...
Provided by University of Manchester
-
White Papers
Corruption And Development: A Test For Nonlinearities
October 1, 2007, 12:00am PDT
Using different combinations of culture, development and openness to international trade, the authors test the variability in the incidences of corruption at different stages of development or in...
Provided by University of Manchester
-
White Papers
Modelling International Linkages For Large Open Economies: US And Euro Area
September 1, 2009, 12:00am PDT
Empirical modeling of the international linkages between the Euro Area and the US requires an open economy specification. This paper proposes and implements a structural VECM framework which...
Provided by University of Manchester
-
White Papers
Monetary Policy And Real Wage Cyclicality
December 1, 2009, 12:00am PST
This paper points to the potential role of monetary policy in affecting real wage cyclicality. The authors show that other things kept equal, the degree and direction of real wage cyclicality is...
Provided by University of Manchester
-
White Papers
Non-Labor Unit Costs, Marginal Costs And The New
September 14, 2009, 12:00am PDT
This paper considers the role of non-labor unit costs in estimating the New Keynesian Phillips Curve (NKPC). The authors show that the theory-based marginal cost of a firm is a function of both...
Provided by University of Manchester
-
White Papers
Inference Regarding Multiple Structural Changes In Linear Models With Endogenous Regressors
October 1, 2009, 12:00am PDT
This paper considers estimation and inference within a linear model with endogenous regressors and multiple changes in the parameters at unknown times. It is shown that estimation via a...
Provided by University of Manchester
-
White Papers
Estimation And Inference In Unstable Nonlinear Least Squares Models
October 5, 2009, 12:00am PDT
In this paper, the authors extend Bai and Perron's (1998, Econometrica, pp. 47- 78) method for detecting multiple breaks to nonlinear models. To that end, they consider a nonlinear model that can...
Provided by University of Manchester
-
White Papers
Information Criteria For Impulse Response Function Matching Estimation Of DSGE Models
October 1, 2009, 12:00am PDT
The authors propose new information criteria for Impulse Response Function Matching Estimators (IRFMEs). These estimators yield sampling distributions of the structural parameters of Dynamic...
Provided by University of Manchester
-
White Papers
Entrepreneurs, Legal Institutions And Firm Dynamics
October 21, 2009, 12:00am PDT
This paper assesses quantitatively the impact of legal institutions on entrepreneurial firm dynamics. Owners choose firm size, financial structure and default to manage risk. The authors find:...
Provided by University of Manchester
-
White Papers
Coping With Uncertainty: Historical And Real-Time Estimates Of The Natural Unemployment Rate And The UK Monetary Policy
November 1, 2009, 12:00am PDT
The paper derives and compares historical and real-time estimates of the UK natural unemployment rate and shows that real-time estimates are fraught with noise and should be treated with...
Provided by University of Manchester
-
White Papers
A Fair Wage Model Of Unemployment With Inertia In Fairness Perceptions
December 1, 2009, 12:00am PST
Theories of psychology and empirical evidence suggest that the reference transactions against which workers judge fairness exhibit inertia. This paper shows that a fair-wage model with inertia in...
Provided by University of Manchester
-
White Papers
Catching-up, Then Falling Behind: Comparative Productivity Growth between Spain And The United Kingdom, 1950-2004
December 1, 2009, 12:00am PST
The pattern of Spanish comparative labor productivity performance in the period 1950-2004 is underpinned by distinctive sectoral trends. From 1950 until the mid-1970s, Spain narrowed the aggregate...
Provided by University of Manchester
-
White Papers
Changes In International Business Cycle Affiliations
December 1, 2009, 12:00am PST
The authors develop a model of occupational choice in which private agents have the option of either working in some costless, but low-yielding, activity (subsistence production), or undertaking a...
Provided by University of Manchester
-
White Papers
Asymptotic Distribution Theory For Break Point Estimators In Models Estimated Via 2SLS
February 10, 2010, 12:00am PST
In this paper, the authors present a limiting distribution theory for the break point estimator in a linear regression model with multiple structural breaks obtained by minimizing a Two Stage...
Provided by University of Manchester
-
White Papers
Innovation, Public Capital, And Growth
February 26, 2010, 12:00am PST
This paper studies interactions between public capital, human capital, and innovation in a three-period OLG model of endogenous growth. Public capital affects growth not only through productivity,...
Provided by University of Manchester
-
White Papers
Tracking Unemployment In The North West Through Recession And Forecasting Recovery
March 1, 2010, 12:00am PST
This paper applies a business cycle dating algorithm to monthly North West county and local authority district claimant count data to assess turning points in the economic cycle of sub-regions....
Provided by University of Manchester
-
White Papers
Growth And Development Under Alternative Corruption Regimes
May 1, 2010, 12:00am PDT
Empirical observation suggests that not all countries of the world have suffered as a result of widespread corruption. The analysis that follows seeks to provide an explanation for this puzzle. It...
Provided by University of Manchester
-
White Papers
Tax Evasion, The Underground Economy And Financial Development
May 1, 2010, 12:00am PDT
The authors study the relationship between the underground economy and financial development in a model of tax evasion and bank intermediation. Agents with heterogenous skills seek loans in order...
Provided by University of Manchester
-
White Papers
Humanitarian Aid, Fertility, And Economic Growth
May 1, 2010, 12:00am PDT
This paper examines the effect of humanitarian aid on the rates of fertility and economic growth in recipient countries. The authors develop a two-period overlapping generations model where...
Provided by University of Manchester
-
White Papers
Corruption In Public Finances, And The Effects On Inflation, Taxation, And Growth
May 1, 2010, 12:00am PDT
In this paper, the authors study the effects of bureaucratic corruption on inflation, taxation, and growth. Here corruption takes three forms: it reduces the tax revenues that are raised from...
Provided by University of Manchester
-
White Papers
A Threshold Cointegration Analysis Of Interest Rate Passthrough To UK Mortgage Rates
May 1, 2010, 12:00am PDT
This paper empirically analyses the interest rate transmission mechanism in the United Kingdom by exploring the pass-through of the official rate to the money market rate and of the market rate to...
Provided by University of Manchester
-
White Papers
Intermediation Costs And Welfare
May 1, 2010, 12:00am PDT
This paper studies quantitatively how intermediation costs affect household consumption loans and welfare. Agents face uninsurable idiosyncratic shocks to labor productivity in a production...
Provided by University of Manchester
-
White Papers
Financial Dollarization And European Union Membership
June 1, 2010, 12:00am PDT
The authors analyze the effect of European Union (EU) membership on financial dollarization for the Central and Eastern European countries. Using a unique monthly dataset that spans about two...
Provided by University of Manchester
-
White Papers
Macroeconomic Uncertainty, Inflation And Growth: Regime-Dependent Effects In The G7
July 1, 2010, 12:00am PDT
The authors analyze the causal effects of real and nominal macroeconomic uncertainty on inflation and output growth and examine whether these effects vary with the level of inflation and location...
Provided by University of Manchester
-
White Papers
Real-Time, Adaptive Learning Via Parameterized Expectations
July 1, 2010, 12:00am PDT
The authors explore real time, adaptive nonlinear learning dynamics in stochastic macroeconomic systems. Rather than linearizing nonlinear Euler equations where expectations play a role around a...
Provided by University of Manchester
-
Whitepapers
Heterogeneous Learning Dynamics And Speed Of Convergence
August 1, 2010, 12:00am PDT
In a simple, forward looking linear stochastic model the authors investigate the impact of heterogeneity in expectations formation on the speed of convergence of the learning process of agents...
Provided by University of Manchester
-
White Papers
A Cholesky-MIDAS Model For Predicting Stock Portfolio Volatility
September 1, 2010, 12:00am PDT
This paper presents a simple forecasting technique for variance covariance matrices. It relies significantly on the contribution of Chiriac and Voev (2010) who propose to forecast elements of the...
Provided by University of Manchester
-
White Papers
Financial Integration And The Construction Of Historical Financial Data For The Euro Area
December 1, 2010, 12:00am PST
Time series analysis for the Euro Area requires the availability of sufficiently long historical data series, but the appropriate construction methodology has received little attention. The...
Provided by University of Manchester
-
White Papers
Business Cycle Synchronization Since 1880
January 1, 2011, 12:00am PST
This paper studies the international business cycle behavior across 25 advanced and emerging market economies for which 125 years of annual GDP data are available. The picture that emerges is more...
Provided by University of Manchester
-
White Papers
A Kernel Technique For Forecasting The Variance- Covariance Matrix
November 1, 2010, 12:00am PDT
The forecasting of Variance-Covariance Matrices (VCMs) is an important issue in finance, having applications in portfolio selection and risk management as well as being directly used in the...
Provided by University of Manchester
-
White Papers
Innovation In Private Infrastructure Development: Effects Of The Selection Environment And Modularity
December 12, 2007, 12:00am PST
This study investigates how the selection environment and modularity affect innovation in private infrastructure development. The findings stem from an in-depth empirical study of the extent ten...
Provided by University of Manchester
-
White Papers
Exploring Knowledge Management In Civil Society Organisations: Sustaining Commitment, Advancing Movement
June 9, 2010, 12:00am PDT
Civil Society Organizations (CSOs) have recently attracted much research attention, as they have become more central in social as well as economic and political dynamics, challenging and shaping...
Provided by University of Manchester
-
White Papers
The Innofusion Of Electronic Banking In Indonesia
January 20, 2011, 12:00am PST
Even though financial innovation plays an important role in the modern economy, surprisingly there have been few empirical literatures. In developing countries, electronic banking (e-banking), for...
Provided by University of Manchester
-
White Papers
The Limits Of Information? A Game Theoretic Contribution To Understanding The Development Of An Indicators Policy For The UK Construction Industry
January 7, 2011, 12:00am PST
In the UK over the last decade, benchmarking has been consistently promoted as a solution to the problems of industry and the construction industry in particular. Government support of...
Provided by University of Manchester
-
White Papers
A Yield Spread Perspective On The Great Financial Crisis: Break-Point Test Evidence
August 1, 2010, 12:00am PDT
The authors use a simple partial adjustment econometric framework to investigate the effects of the crisis on the dynamic properties of a number of yield spreads. They find that the crisis has...
Provided by University of Manchester
-
White Papers
Regime Shifts In Mean-Variance Efficient Frontiers: Some International Evidence
October 31, 2010, 12:00am PDT
Regime switching models have been assuming a central role in financial applications because of their well-known ability to capture the presence of rich non-linear patterns in the joint...
Provided by University of Manchester
-
White Papers
Does The Macro-economy Predict U.K. Asset Returns In A Nonlinear Fashion? Comprehensive Out-Of-Sample Evidence
September 1, 2010, 12:00am PDT
The authors perform a comprehensive examination of the recursive, comparative predictive performance of a number of linear and non-linear models for UK stock and bond returns. They estimate Markov...
Provided by University of Manchester
-
White Papers
Investigating Sources Of Unanticipated Exposure In Industry Stock Returns
September 1, 2010, 12:00am PDT
This paper investigates the sources of both foreign exchange rate and interest rate exposure of industry level portfolios in the G7, decomposing exposure into cash flow and discount rate effects....
Provided by University of Manchester
-
White Papers
Outsourcing And Offshoring Of Business Services: Challenges To Theory, Management And Geography Of Innovation
July 22, 2010, 12:00am PDT
Drawing on an original survey, the authors discuss the trends and challenges posed by the outsourcing and off shoring of business services. They document and analyze the increasing off shoring of...
Provided by University of Manchester
-
White Papers
Multi-Asset Class Portfolio Optimization Using A Belief Rule-Based System
July 1, 2010, 12:00am PDT
This paper is to apply a Belief Rule-Based (BRB) system to solve the multiasset class portfolio optimization problems. The BRB system, was developed on the basis of the concept of belief...
Provided by University of Manchester
-
White Papers
Sustainability Practices In Global IT Outsourcing
July 1, 2010, 12:00am PDT
Buyers and providers of global IT outsourcing increasingly strive for sustainability. Lessons from global leaders can give strategic and responsive direction to the IT outsourcing industry and to...
Provided by University of Manchester
-
White Papers
Exploring Project Manager's Mental Models Of Project Risks
June 23, 2010, 12:00am PDT
The paper provides some insight into the supply chain team member's perceptions of project risks. The combination of causal mapping and a network-based approach offers a way of improving the...
Provided by University of Manchester
Keep Up with TechRepublic
Submit a Paper
Get your content listed in our directory!
Our directory is the largest library of vendor-supplied technical content on the Web. It’s also the first place IT decision makers turn to when researching technology solutions. Our members are already finding your competitors’ papers here - shouldn’t they find yours, too? It's FREE so click here and submit your white paper, case study, data sheet, research report, or other document today!
