Search results for "Econometrics"
showing 10 items of 3730 documents
A Collective Binomial Learning Methodology
2013
In second-language learning, learners frequently have a poor environment for speaking and hearing the target language. Learning efficiency is thus limited. We propose a methodology involving the creation of temporary social structures. Collective interactions fed back among individuals and environment are constructed on a computer and practiced in a real world. A dynamic learning system which coherently ties together the practitioner’s design, the learner’s performance and the researcher’s theories is possible. Our results call for language learning structures to include adaptive spoken structures, in contrast with existing educational systems.
Trend Switching Processes in Financial Markets
2010
For an intriguing variety of switching processes in nature, the underlying complex system abruptly changes at a specific point from one state to another in a highly discontinuous fashion. Financial market fluctuations are characterized by many abrupt switchings creating increasing trends (“bubble formation”) and decreasing trends (“bubble collapse”), on time scales ranging from macroscopic bubbles persisting for hundreds of days to microscopic bubbles persisting only for very short time scales. Our analysis is based on a German DAX Future data base containing 13,991,275 transactions recorded with a time resolution of 10− 2 s. For a parallel analysis, we use a data base of all S&P500 stocks …
Life satisfaction and tax morale: The role of trust in government and cultural orientation
2022
Taxes are essential for a government to function correctly, because they fund public services and promote long-term growth in a country. Tax morale is a positive attitude toward taxation shaped by extrinsic and intrinsic motivations, including numerous psychological factors. However, these factors are far from completely clear and a better understanding of what drives tax morale can greatly help governments in the design of tax policies and their administration. In this paper we test the novel hypothesis that life satisfaction is one of the psychological aspects affecting tax morale. Using longitudinal data from the World Value Survey, we show that people more satisfied with their own life …
Does the GATT/WTO promote trade? After all, Rose was right
2019
This paper re-examines the effect of the GATT/WTO on trade using recent econometric developments that allow us estimating structural gravity equations with the Poisson pseudo-maximum likelihood (PPML) estimator on a large dataset that requires computing high-dimensional fixed effects. By doing so, we overcome computational limitations that are present in previous studies. In line with Rose’s (Am Econ Rev 94:98–114, 2004) seminal work, we find that, unlike regional trade agreements and currency unions, the GATT/WTO accession has not generated positive trade effects. This result is robust to the use of alternative measures of trade flows, across periods and country groups, to changes in the p…
Assessing the Enlargement and Deepening of the European Union
2008
This paper estimates a theoreticallymotivated gravity model to examine the effect of the European Union (EU) on trade and whet her the order of entry has affected the trade performance of member countries. Additionally, we analyse the impact of the diffe rent phases of EU integration on trade. The results show that both original countries and successive enlargements boost intra-b loc trade. Moreover, the results suggest that the deepening in the integration process has led to more trade creation among members. Finally, only the latter ph ase of the European integration process (the single currency) has increased trade with non-members.
Labour market response to globalisation: spain, 1880-1913
2010
Abstract This paper analyses the impact of globalisation (trade and migration) on the Spanish labour market between 1880 and 1913 by examining the influence that globalisation factors had on agricultural and industrial wages. Our results show that the nineteenth century grain invasion had a negative impact on agricultural wages, whereas the fall in wheat prices did not benefit industry workers. We also found that migration pushed up real agricultural and industrial wages. As agriculture was the main sector in the economy, the final impact was a wage decrease. The negative impact of trade on agricultural and industrial labour markets partly explains the trade policy response of “integral pro…
Against the Grain: Spanish Trade Policy in the Interwar Years
2021
Estudiamos los efectos de los conflictos internos y los shocks externos sobre la política comercial española en el período de entreguerras. We study the effects of domestic conflict and external shocks on Spanish trade policy in the interwar period. Our account mobilizes a new granular dataset on exports and imports, and good-country level information on tariffs, trade agreements, and quotas. Into the Depression, the mainstay of policy was the tariff. The establishment of the Second Republic in 1931 was a turning point in policymaking. The new regime initiated bilateral trade negotiations. The Republic’s dilemma was to find countries willing to exchange market access. In a daunting internat…
External effects of domestic regulations: comparing internal and international barriers to trade
2001
Abstract In a world in which barriers to trade at all levels—international and internal—are mostly a by-product of the implementation by governments of different regulatory policies to deal with “domestic” or “local” problems such as environmental degradation, health, and labor standards, the article purports to show how the mechanisms that are set in motion by the operation of competition among the governments inhabiting the different jurisdictional tiers of federal countries lead to outcomes that are different from those generated by the ‘agreed-upon’ rules that govern the relations of national governments with each other in matters of international trade.
The Politicization of European Union Trade Policy: Radical-Left Euroskeptic Opposition to the Transatlantic Trade and Investment Partnership
2021
This study aims to analyze the correlation between radical-left Euroskeptic (RLE) activity and European Union (EU) trade policy by focusing on the Transatlantic Trade and Investment Partnership (TTIP). At the beginning of TTIP negotiations, the agreement was not high on political agendas and was not a major concern within European society. Thus, its salience was low. This initial lack of interest stemmed from the fact that the TTIP, as an economic and technical issue, did not draw public attention. This study shows that RLEs profoundly affected public opinion on the TTIP by increasing its salience during the European parliamentary elections in 2014 in France and Germany. Second, RLEs involv…
Coordination games with asymmetric payoffs: An experimental study with intra-group communication
2020
Abstract Two alternative modes of reasoning in coordination games are prominently discussed in the literature: level-k thinking and team reasoning. In order to differentiate between the two modes of reasoning, we experimentally investigate payoff-asymmetric coordination games using an intra-group communication design that incentivizes subjects to explain the reasoning behind their decisions. We find that the reasoning process is significantly different between games. In payoff-symmetric games, team reasoning plays an important role for coordination. In payoff-asymmetric games, level-k reasoning results in frequent miscoordination. Our study clearly illustrates how small differences between …