Search results for " spillover"
showing 10 items of 54 documents
Wavelet analysis of variance risk premium spillovers
2013
In this paper we construct a variance risk premium spillover index among France, Germany, UK, Switzerland and the US. The variance risk premium is measured by the difference between the difference between the (square) of implied volatility and expected realized variance of the stock market for next month. We also construct a spillover index for the constituents of the variance risk premium. The series under investigation exhibit long memory properties. The construction of a total spillover indicator suggested by Diebold-Yilmaz (2009) would then rely on modeling a fractionally integrated Vector Autoregressive Model, which might be subject to errors in specifying the correct lag length and th…
Endogenous asymmetry and cooperative R&D in linear duopoly with spillovers
2009
In a standard model of R&D followed by linear Cournot competition, firm asymmetry is sustainable as equilibrium with non cooperative R&D if and only if the productivity of research is sufficiently large relative to the benefits of imitation. Increasing spillovers distribute R&D results among asymmetric competitors, causing price, firm asymmetry, and joint profit to reduce. With zero spillovers, a symmetric joint lab dominates asymmetric R&D competition in terms of social welfare and consumer surplus, but is sometimes dominated in terms of joint profit. Raising spillovers encourage symmetric collusion but makes the latter potentially harmful to consumers. (JEL : C72; L13; O32).
Beyond Economic Profitability, Sustainable Financing through Crowdfunding
2021
Esta investigación se ha llevado a cabo con el objetivo de determinar la relación entre el crowdfunding y la sostenibilidad. El crowdfunding es una herramienta de financiación que surge de la economía colaborativa, y emplea una plataforma online para poner en común inversores que ofrecen recursos económicos y emprendedores, empresas o individuos que demandan dichos recursos. Con el fin de analizar dicha relación se realiza una revisión de la literatura previa en el tema y se observa que a través de la innovación se crean proyectos sostenibles que son financiados a través de crowdfunding. Estos proyectos significan una solución sostenible que incide en el pensamiento fuera de la caja, y que …
Risk aversion connectedness in five European countries
2018
Abstract In this paper we compute an aggregate index of risk aversion and indices of vulnerability and the contribution to systemic risk aversion for five European countries. The variance risk premium proxies risk aversion. The contribution to the literature is twofold. First, this is the first study estimating not only the common component, but also indices of directional connectedness among variance risk premia. Second, it is the first to estimate the interconnections by means of a FIVAR model, in order to account for long memory. Our analysis indicates measures of total and directional connectedness unlike those that would be obtained with the use of a short memory VAR. These differences…
Nonstandard Work Hours and Single Versus Coupled Mothers' Work-to-Family Conflict
2019
Environmental spillovers and their impacts on housing prices: A spatial hedonic analysis
2015
This paper investigates the spatial dimension of environmental factors on housing prices. We develop spatial hedonic models to estimate the implicit prices of various environmental attributes. The spatial dimension can be interpreted in terms of local or global spillovers. We conduct an empirical study in the Loire estuary (France). We focus on natural areas and more artificialized ones (ocean frontage, wetlands, rivers, and noisy roads). We show that, depending on the spatial model used, the implicit price is more than just the estimated coefficient value and combines both a feedback effect and a propagation effect.
Clubs de convergence et effets de débordements géographiques : une analyse spatiale sur données régionales européennes, 1980-1995
2007
Our article offers an econometric model of spatial interactions for the empirical analysis of growth in European regions over the period 1980-1995. The model detects spatial spillover effects and makes it possible to take account of the European economy’s strong polarization. More specifically, by factoring in both spatial autocorrelation and spatial heterogeneity, we characterize the economic polarization pattern in European regions, identify convergence clubs, and model them as spatial regimes. We estimate a two-regime model with spatially autocorrelated errors and show that the convergence process differs between the two regimes. We find a strongly significant spatial spillover effect : …
Estimation des effets de proximité dans le processus de convergence régionale : une approche par l'économétrie spatiale sur 92 régions européennes (1…
2002
L'objectif de cet article est d'examiner les conséquences de la dépendance spatiale sur la croissance régionale et le processus de convergence. Sur un échantillon de 92 régions européennes sur la période 1980-1995, nous montrons que le modèle de b-convergence absolue doit être re-spécifié en raison de la présence d'auto-corrélation spatiale. Les méthodes de l'économétrie spatiale nous orientent vers une spécification avec erreurs spatialement auto-corrélées qui nous permet de mettre en évidence un effet de débordement géographique. Nous montrons ainsi que le taux de croissance d'une région est influencé positivement par les taux de croissance des régions contiguës.
Disease dispersion as a spatial interaction: The case of Flavescence Dorée
2020
International audience; Flavescence dorée is a serious and incurable vine disease transmitted by an insect vector. Focusing on its spatial diffusion and on its control with pesticides, this paper investigates the private strategies of wine producers and their socially optimal counterparts. The socially optimal regulation has to address two externalities regarding private treatment decisions: (a) the insufficient consideration of collective benefits from controlling the vector populations; (b) the failure to take into account environmental damage related to pesticide application. The probability of infection is estimated on French data from a spatial econometric specification. Three alternat…
Nonstandard Work Hours and Single Versus Coupled Mothers’ Work-to-Family Conflict
2019
Objective: To compare single and coupled mothers’ experiences of time-based work-to-family conflict (WFC) and work-to-family positive affective spillover (PAS) in the context of maternal nonstandard work hours.Background: Despite having become one of the central topics of work–family research, studies examining the relationship of maternal work schedules and family roles have mainly focused on North American samples or dual-earner families. Although qualitative studies have highlighted the problems faced by European single mothers in relation to the combination of nonstandard work hours and family life, there are no quantitative or cross-national comparative studies on the association.Metho…