Search results for "Econometric"
showing 10 items of 3780 documents
Outside‐in Politicization of EU–Western Africa Relations: What Role for Civil Society Organizations?
2021
This article explores the empirical relevance of researching outside-in politicization processes in European studies. To this end, it examines to what extent and how civil society organizations (CSOs) have contributed to the politicization of EU policies towards Western Africa in two cases: the negotiation of Economic Partnership Agreements and the EU's engagement with the G5 Sahel. CSOs were strongly engaged in the trade negotiations, while they were largely excluded from the G5 Sahel process. In both cases this was due to CSOs' own initiatives, or the absence thereof, with these strongly linked to being either invited or discouraged by official actors. The article argues that authority tr…
Weak versus strong dominance of shrinkage estimators
2021
We consider the estimation of the mean of a multivariate normal distribution with known variance. Most studies consider the risk of competing estimators, that is the trace of the mean squared error matrix. In contrast we consider the whole mean squared error matrix, in particular its eigenvalues. We prove that there are only two distinct eigenvalues and apply our findings to the James–Stein and the Thompson class of estimators. It turns out that the famous Stein paradox is no longer a paradox when we consider the whole mean squared error matrix rather than only its trace.
Damned If You Do and Damned If You Don’t: Two Masters
2018
Available online: 05 June 2018 We study common agency problems in which two principals (groups) make costly commitments to incentives that are conditioned on imperfect signals of the agent's action. Our framework allows for incentives to be either rewards or punishments. For our basic model we obtain a unique equilibrium, which typically involves randomization by both principals. Greater similarity between principals leads to more aggressive competition. The principals weakly prefer punishment to rewards, sometimes strictly. With rewards an agent voluntarily joins both groups with punishment it depends on whether severe punishments are feasible and cheap for the principals. We study whether…
Price and volatility dynamics between electricity and fuel costs: Some evidence for Spain
2012
Abstract The purpose of this study is to investigate the causal linkages between the Spanish electricity, Brent crude oil and Zeebrugge (Belgium) natural gas 1-month-ahead forward prices. Following Lutkepohl et al. (2004), we control for the presence of a structural change in the series and then we use the Johansen cointegration test and a vector error correction model (VECM) to embrace the analysis. Additionally, a multivariate generalized autoregressive conditional heteroskedastic (GARCH) model is applied to explore volatility interactions between the three markets involved in the study. Our findings reveal that Brent crude oil and Zeebrugge natural gas forward prices play a prominent rol…
Residual-based block bootstrap for cointegration testing
2010
We propose a new testing procedure to determine the rank of cointegration. This new method is based on the nonparametric resampling procedure, so-called Residual-Based Block Bootstrap (RBB), which is developed by Paparoditis and Politis (2003) in the context of unit root testing. Through Monte Carlo experiments we show that, in small samples, the RBB cointegration test has good power properties in relation to the other two well-known tests for cointegration, such as the Augmented Dickey–Fuller (ADF), applied to the residual of a cointegrating regression, and the Johansen's maximum eigenvalue tests. Likewise, this article looks at the influence played by the correlation of the ‘X’ variables …
How Law Affects Lending
2006
A voluminous literature seeks to explore the relation between law and finance, but offers little insights into dynamic relation between legal change and behavioral outcomes or about the distributive effects of law on different market participants. The current paper disentangles the law-finance relation by using disaggregate data on banks’ lending patterns in 12 transition countries over a 8 year period. This allows us to control for country level heterogeneity and differentiate between different types of lenders. Employing a differences-in-differences methodology in an exclusive ”laboratory” setting as well as unique hand collected datasets on legal change as well as changes in bank ownersh…
Does the composition of regional knowledge bases influence extra-regional collaboration for innovation?
2013
There is a growing research interest in the relationship between the composition of regional knowledge bases and the extra-regional collaborative ties maintained by actors during their development work. To investigate this relationship, we use patent data to characterize European NUTS 3 regions by their (i) comparative technological specializations; and (ii) related technological variety. We find domestic, extra-regional collaboration to be negatively associated with regional technological specialization and related technological variety. At the same time, we find related technological variety to serve in support of international innovation collaboration.
REMITTANCES IMPACTS ON SCHOOLING IN JORDAN: ANALYSES WITH RESPECT TO MIGRANT DESTINATION
2019
The two channels that explain how migration of a household member affects human capital formation of those left-behind are income and family disruption effects. In this study, remittances and migration impacts on human capital formation in Jordan is researched with respect to preferred migrant destinations and to the originating governorates of migrants. Jordan’s Labour Market Panel Survey-2010 is used to carry out the analyses. Remittances are found to have a positive impact on “schooling”, and findings do not change significantly across households with respect to the host country. There is no solid evidence of family disruption, except in households where both parents are absent; however,…
School grading and institutional contexts
2011
We study how the relationship between students' cognitive ability and their school grades depends on institutional contexts. In a simple abstract model, we show that unless competence standards are set at above-school level or the variation of competence across schools is low, students' competence valuation will be heterogeneous, with weaker schools inflating grades or flattening their dependence on competence, therefore reducing the information content and comparability of school grades. Using data from the OECD-PISA 2003 Survey, the model is applied to a sample of four countries, namely Australia, Germany, Italy, and the Netherlands. We find that in Australia, schools' heterogeneity does …
Adam Smith on Monopoly Theory. Making good a lacuna
2014
This article analyses Adam Smith's views on monopoly by focusing on Book IV and V of The Wealth of Nations. It argues that the majority of scholars have assessed Smith's analysis of monopoly starting from premises different from those, actually though implicitly, used by Smith. We show that Smith makes use of the word 'monopoly' to refer to a heterogeneous collection of market outcomes, besides that of a single seller market, and that Smith's account of monopolists' behaviour is richer than that provided by later theorists. We also show that Smith was aware of the growth-retarding effect of monopoly and urged State regulation. © 2014 Scottish Economic Society.