Incorporating Affirmative Action into the Welfare State

Labour Market Rigidities, Financial Integration and International Risk Sharing in the OECD

“…In our empirical analysis however we concentrate on the period after German reunification only9 The countries included in our sample are Australia, Austria, Belgium, Canada, Denmark, Germany, Finland, France, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, the UK and the USA. Our data set thus excludes Greece, Ireland, and Luxembourg for reasons of data availability.10 Artis(2003) supports the use of the band-pass filter over the Hodrick-Prescott filter.11 Obstfeld and Taylor(2004) for example argue that after the 1980s a degree of international capital mobility emerged that had not been seen for over a century.…”

“…For robustness purposes two detrending methods are considered. The first method is to simply consider seasonal differences, while the second method we consider is the band pass filter, as recommended by Artis (2003).…”

“…While we employ the band pass filter on the full sample of data, our empirical analysis considers only the most recent business cycles using data over the period [1991][1992][1993][1994][1995][1996][1997][1998][1999][2000][2001][2002][2003][2004]. We concentrate on this period since it was characterized by a higher international mobility of capital than previous periods 11 .…”

Modelling Volatilities and Conditional Correlations in Futures Markets with a Multivariate T Distribution

“…See, for example, Andersen, Bollerslev, Diebold, and Ebens (2001), and Andersen, Bollerslev, Diebold and Labys (2001). The transformation of returns to Gaussianity is important since as recently shown by Embrechts et al (2003), the use of correlation as a measure of dependence can be misdealing in the case of (conditionally) non-Gaussian returns. In contrast, estimation of correlations based on devolatized returns that are nearly Gaussian is likely to be more generally meaningful.…”

Resale Price Maintenance and Restrictions on Dominant Firm and Industry-Wide Adoption

“…Gal-Or(1991),Bonanno and Vickers (1988) and Stiglitz (1988, 1995) build on the same framework, but they assume that the bargaining power is in the hands of the suppliers. See also Jansen(2003),Corts and Neher (2003), Moner-Colonques et al(2004), and Innes(2006).…”