| 1. |
- Kinnman, Susanna, 1975-, et al.
(författare)
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A global Baltic : potential gains from trade liberalisation in the Baltic sea states
- 2009
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Ingår i: Baltic Journal of Economics. - Riga : BICEPS. - 1406-099X. ; 9:1, s. 55-79
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Tidskriftsartikel (refereegranskat)abstract
- Though the Baltic Sea countries have displayed substantial growth and trading activity over the last decade, facilitated by reforms, significant trade barriers still exist. We analyse their implications, using a CGE-model. Besides the “usual suspects” (tariffs, subsidies and services barriers) and trade facilitation, we address non-tariff-measures (NTM) in a separate scenario. We find that the reforms would substantially boost national income and trade, especially for the group of emerging economies. Income gains are primarily due to elimination of dead-weight losses caused by rules and regulations and improved resource allocation. Jointly, the simulations indicate a move towards services and industrial production and export.
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| 2. |
- Li, Chuan-Zhong, et al.
(författare)
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A Note on the theory of investment : Hotelling’s rule under process independence
- 2010
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Ingår i: Letters of Spatial and Resource Sciences. - Springer. ; 3:2, s. 55-60
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Tidskriftsartikel (refereegranskat)abstract
- This note shows that the well-known Hotelling rule holds for a wider class of capital investment projects satisfying the property of process independence. Optimality behavior is therefore not a necessary condition for deriving the result.
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| 3. |
- Mantalos, Panagiotis, et al.
(författare)
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Bootstrap Methods for Autocorrelation Test with Uncorrelated but not Independent Errors
- 2008
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Ingår i: Economic Modelling. - Elsevier. - 0264-9993. ; 25:5, s. 1040-1050
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Tidskriftsartikel (refereegranskat)abstract
- By using bootstrap technique we investigate the properties of the Breusch [Breusch, T.S., 1978. Testing for autocorrelation in dynamic linear models. Australian Economic Papers 17, 334–355]–Godfrey [Godfrey, L.G., 1978. Testing for higher order serial correlation in regression equations when the regressors include lagged dependent variables. Econometrica 46, 1303–1310] autocorrelation tests in dynamic models with uncorrelated but not independent errors. In this paper we show that, under conditions when the errors are uncorrelated but not independent, even the best likelihood ratio test cannot achieve the asymptotic distribution under the null hypothesis of no autocorrelation. Standard bootstrap methods also fail to produce consistent results. To overcome this problem we applied several bootstrap testing methods for the same purpose and found the stationary bootstrap and Wild bootstrap with static model to perform adequately among the other bootstrap methods.
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| 4. |
- Hanes, Niklas, 1969-, et al.
(författare)
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Municipal preferences for state imposed amalgamations : an empirical study based on the 1952 municipal reform in Sweden
- 2012
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Ingår i: Urban Studies. - 0042-0980. ; 49:12, s. 2733-2750
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Tidskriftsartikel (refereegranskat)abstract
- This paper concerns municipal preferences for state-imposed municipal amalgamations, focusing on factors that may explain municipal acceptance of, or objection to, a state-imposed amalgamation decision. The empirical analysis is based on the extensive municipal reform that occurred in Sweden in 1952, which reduced the number of municipalities from 2498 to 1037. In 66 per cent of the amalgamated cases, at least one municipality complained. The results show that income differences affected the willingness to amalgamate; high-income municipalities opposed amalgamation with less wealthy municipalities. The results also indicate that the size (absolute and relative) of the municipalities affected their willingness to amalgamate. Small and large municipalities were most likely to accept the amalgamation decision and equally sized municipalities were less likely to amalgamate voluntarily.
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| 5. |
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| 6. |
- Kling, Staffan, 1961-
(författare)
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Organisationskulturens betydelse för hantering av tomrum
- 2008
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Licentiatavhandling (övrigt vetenskapligt)abstract
- Organisationskulturens betydelse för hantering av tomrum När en organisationsmedlem är frånvarande från sin arbetsplats och sina arbetsuppgifter uppstår ett tomrum bestående av bland annat avsaknad av olika kompetenser. Denna uppsats handlar om hur detta tomrum hanteras och vilka strategier som används i detta sammanhang. Att arbetsuppgifter utförs har betydelse för individen genom minskad arbetsbelastning, för organisationen som kan upprätthålla en högre produktivitet och för samhället i stort som får lägre kostnader för sjukskrivningar och rehabilitering. Genom kvalitativa fallstudier undersöks i denna studie två offentliga organisationer som bedriver verksamhet inom samma område. Resultatet av forskningen visar att organisationers kultur påverkar vilken strategi en organisation använder för att hantera tomrum. En passiv och svag kultur, vilken i studien benämns passiv kultur, kan få de konsekvenserna att tomrummen inte fylls och arbetsuppgifterna inte utförs. En organisationskultur som är konstruktiv och stark, vilken i studien benämns kommunicerande kultur, medför istället att tomrummen fylls och att arbetsuppgifter utförs trots att den ordinarie personalen är frånvarande. Detta till följd av att denna kultur främjar kommunikation och interaktion, vilka i hög grad bibehålls då arbetsuppgifter utförs. Då kulturen samtidigt är stark och genomsyrar hela organisationen förstärks kommunikationen och interaktionen. Tomrum skapade av frånvaro är med andra ord bra för organisationer att fylla, och viktigast av allt, om och hur de fylls beror på något som organisationen själv kan påverka, dess organisationskultur. En viktig slutsats av denna studie är att kultur styr organisationer och deras verksamheter. Staffan Kling är doktorand vid Förvaltningshögskolan, Göteborgs universitet. Organisationskulturens betydelse för hantering av tomrum är hans licentiatuppsats i offentlig förvaltning.
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| 7. |
- Roine, Jesper, et al.
(författare)
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On the Role of Capital Gains in Swedish Income Inequality
- 2011
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Rapport (övrigt vetenskapligt)abstract
- Realized capital gains are typically disregarded in the study of income inequality. We show that in the case of Sweden this severely underestimates the actual increase in inequality and, in particular, top income shares during recent decades. Using micro panel data to average incomes over longer periods and re-rank individuals according to income excluding capital gains, we show that capital gains indeed are a reoccurring addition to rather than a transitory component in top incomes. Doing the same for lower income groups, however, makes virtually no difference. We also try to find the roots of the recent surge in capital gains-driven inequality in Sweden since the 1980s. While there are no evident changes in terms of who earns these gains (high wage earners vs. top capital income earners), the primary driver instead seems to be the drastic asset price increases on the post-1980 deregulated financial markets.
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| 8. |
- Svensson, Mikael, et al.
(författare)
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Willingness to pay for private and public road safety in stated preference studies : Why the difference?
- 2010
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Ingår i: Accident Analysis and Prevention. - 0001-4575. ; 42:4, s. 1205-1212
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Tidskriftsartikel (refereegranskat)abstract
- Estimates of the willingness to pay (WTP) for a mortality risk reduction can be used to calculate the value of a statistical life, which is a major component in many economic evaluations of environmental and safety policies. Previous research on the WTP for risk reductions using stated preference methods have found that the mean WTP for public risk reductions is significantly smaller compared to the mean WTP for private risk reductions of equal magnitude. Hence, the use of a private or public scenario in stated preference studies of e.g. environmental or safety policies may strongly determine the outcome of the economic evaluation. In this paper we use a stated preference survey to show that WTP for a private risk reduction is three times higher compared to a public risk reduction and a significant part of the difference can be explained by respondents' attitudes towards privately and publicly provided goods in general.
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| 9. |
- Zaher, Fadi
(författare)
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Evaluating Asset-Pricing Models in International Financial Markets
- 2006
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Doktorsavhandling (övrigt vetenskapligt)abstract
- This thesis consists of three empirical studies on asset-prices in international financial markets. The purpose is three-fold. First, to evaluate whether good predictions of economic variables may be obtained by pooling information from a broad group of financial variables. Second, to formulate asset-pricing models from seven established stock markets. Third, to evaluate the asset-pricing models in the presence of short-sales.Chapter 2 applies a large data set, consisting of 167 monthly time series for the UK, both economic and financial, to simulate out-of-sample predictions of industrial production, inflation, three-month Treasury-Bills and other variables. Fifteen dynamic factor models that allow forecasting based on large panels of time series are considered. The performances of these factor models are then compared to the following competing models: a simple univariate autoregressive, a vector autoregressive, a leading indicator, and a non-expectational Phillips curve models. The results show that the dynamic factor models outperform the competing models in forecasting at 6-, 12-, and 24-month horizons. Two main findings are highlighted. First, the financial markets have a predictive power in terms of economic activity. Second, for some variables, the dynamic factor model appears to be more reliable than other competing models.In an attempt to analyze the equity premium puzzle and the risk-free rate puzzle, Chapter 3 compares different asset-pricing models within an international framework. To do so, it evaluates the performance of the following models: time separable-constant relative risk aversion, internal habit, external habit with externality, external habits which yield a constant risk-free rate, adaptive learning with constant gain, and state non-separability. The data are from seven industrialized countries, namely the United States, Canada, Japan, the United Kingdom, France, Denmark, and Sweden. Regarding empirical evidence, this thesis uses the Hansen-Jagannathan approaches to impose volatility restrictions on the asset-pricing models. The time-separable, adaptive learning and external habit models fail, and the evidence favors the internal habit persistence model. However, success is limited to some countries and to the equity premium puzzle rather than the risk-free rate puzzle. Finally, the state-non-separable specification consistently resolves the equity premium puzzle for all the countries.Chapter 4 analyzes the effect of market frictions on the equity premium puzzle. Indeed, in the standard asset-pricing model with time-separable preferences, the volatility of the intertemporal marginal rate of substitution is too low for plausible values of risk aversion to be consistent with consumption and asset return data. Following this, the Hansen-Jagannathan method is applied to evaluate the equity premium puzzle for the UK in two directions. First, the time-separable model, the internal and the external habit formation models and the state non-separable model are examined under the assumptions of both frictionless markets and market frictions. Second, a bootstrap experiment is conducted to show that these asset-pricing models violate the Hansen-Jagannathan bound in almost all the samples. Indeed, because of the changes in the sample means in consumption growth and asset returns, all the models appear to be weak under frictionless markets. By contrast, asset-pricing models with market frictions are much more successful in the bootstrap experiment.
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