Zobrazeno 1 - 10
of 29
pro vyhledávání: '"Leo Michelis"'
Publikováno v:
The B.E. Journal of Macroeconomics. 23:1-25
In this paper we extend the Hicksian compensating variation welfare measure in two directions. First, we adjust the size of the compensating variation in order to account for the fact that the compensating transfers will result in changes in output,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::285381a9f2ebb112afa393cc9acbee6e
https://doi.org/10.1515/bejm-2021-0024
https://doi.org/10.1515/bejm-2021-0024
This paper employs response surface regressions based on simulation experiments to calculate asymptotic distribution functions for the Johansen-type likelihood ratio tests for cointegration. These are carried out in the context of the models recently
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::04bfd016b89bb08768119abe72b067f4
https://doi.org/10.32920/ryerson.14640264.v1
https://doi.org/10.32920/ryerson.14640264.v1
Autor:
Minoas Koukouritakis, Leo Michelis
This paper investigates empirically the extent to which the ten new countries of the recent EU enlargement are ready to join the European Monetary Union (EMU). We assess the prospects of successful accession into the EMU using cointegration and commo
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::d6cc7309ffd318cf6be564c686ddf179
https://doi.org/10.32920/ryerson.14638368.v2
https://doi.org/10.32920/ryerson.14638368.v2
Autor:
Minoas Koukouritakis, Leo Michelis
This paper investigates empirically the extend to which the ten new countries of the current EU enlargement are ready to join the European Monetary Union (EMU). We assess the prospects of successful accession into the EMU using cointegration and comm
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::931188697b0645230a9bcddb20293594
https://doi.org/10.32920/ryerson.14636157
https://doi.org/10.32920/ryerson.14636157
Autor:
Leo Michelis, Constantine Angyridis
Publikováno v:
Empirical Economics. 60:1283-1307
In this paper, we consider the Aiyagari et al. (J Polit Econ 110(6):1220–1254, 2002) general equilibrium model of optimal taxation and show that the optimal tax rate does not necessarily imply tax smoothing, as it may depend on past government debt
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::35dfd98ab573db947f288202cb26d79e
https://doi.org/10.1007/s00181-019-01786-2
https://doi.org/10.1007/s00181-019-01786-2
Autor:
Leo Michelis, Alfred A Haug
This paper employs systems-based cointegration techniques developed by [Reference to Johansen] and [Reference to Johansen] to determine which European Union countries would form a successful Economic and Monetary Union (EMU), based on long-run behavi
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::5a734852aef84e329e3dc037e4b0e0c3
https://doi.org/10.32920/14638461.v1
https://doi.org/10.32920/14638461.v1
Autor:
Leo Michelis, Minoas Koukouritakis
This paper uses cointegration and common trends techniques to investigate empirically the expectations hypothesis of the term structure of interest rates for the 10 new EU countries, along with Bulgaria and Romania. The empirical results support the
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::32e7d303d6f047c846f3258cda145706
https://doi.org/10.32920/ryerson.14640240.v1
https://doi.org/10.32920/ryerson.14640240.v1
Autor:
Leo Michelis
This paper examines the asymptotic null distributions of the J and Cox non-nested tests in the framework of two linear regression models with nearly orthogonal non-nested regressors. The analysis is based on the concept of near population orthogonali
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::01fa73f3d6921f6a413ecba356a992eb
https://doi.org/10.32920/14640891.v1
https://doi.org/10.32920/14640891.v1
Autor:
Minoas Koukouritakis, Leo Michelis
This paper uses cointegration and common trends techniques to investigate empirically the expectations hypothesis of the term structure of interest rates among the original 15 EU countries. By decomposing each term structure into its transitory and p
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::2eaf88e2103c6b30fdcd1a99ec325238
https://doi.org/10.32920/ryerson.14636451
https://doi.org/10.32920/ryerson.14636451
Autor:
Leo Michelis, Arman Mansoorian
Publikováno v:
Canadian Journal of Economics/Revue canadienne d'économique. 49:815-833
In this paper, we measure the contribution of durable goods to the welfare cost of inflation, in the context of an endogenous growth model with durable and nondurable goods, where purchases of the latter require only a partial cash payment compared w
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::38b8c2808a77a357b3f7cdf1f3eacf58
https://doi.org/10.1111/caje.12215
https://doi.org/10.1111/caje.12215