Now showing items 211-220 of 243
A Mortality Model forMulti-populations
A Semi-Parametric Approach
Mortality is different across countries, states and regions. Several empirical research works however reveal that mortality trends exhibit a common pattern and show similar structures across populations. The key element ...
The Anchoring of Inflation Expectations in the Short and in the Long Run
This paper introduces structural VAR analysis as a tool for investigating the anchoring of inflation expectations. We show that U.S. consumers’ inflation expectations are anchored in the long run because macro-news shocks ...
Manager Characteristics and Credit Derivative Use by U.S. Corporate Bond Funds
This study provides a comprehensive overview of the use of credit default swaps by U.S. corporate bond funds and analyzes in detail whether certain characteristics of managers, in addition to the fundamentals of a fund, ...
College Admissionswith Entrance Exams
We study a college admissions problem in which colleges accept students by ranking students’ efforts in entrance exams. Students’ ability levels affect the cost of their efforts. We solve and compare the equilibria of ...
An Adaptive Approach to Forecasting Three Key Macroeconomic Variables for Transitional China
We propose the use of a local autoregressive (LAR) model for adaptive estimation and forecasting of three of China’s key macroeconomic variables: GDP growth, inflation and the 7-day interbank lending rate. The approach ...
TFP Convergence in German States since Reunification
Evidence and Explanations
A quarter-century after reunification, labor productivity in eastern Germany continues to lag systematically behind the West. Denison Hall-Jones point-in-time estimates point to large gaps in total factor productivity as ...
Frictions or deadlocks? Job polarization with search and matching frictions
This paper extends Pissarides (1990)’s matching model by considering two sectors (routine and manual) and workers’ occupational choices, in the context of skill-biased demand shifts, to the detriment of routine jobs and ...