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1798782 documents, page 1 of 179879

The Effect of Trade Liberalization on Food Retail Structure and Food Price Levels in Italy: an Empirical Analysis

In the last two decades the Italian food retail landscape has changed considerably also thanks to the LD 114/1998 and subsequent trade liberalization laws. In this study, we investigate the impact of LD 114/1998 on the structure of the Italian food retailing industry and on the food and beverage price index. We use difference–in–difference to compare the level of concentration, number of stores, average store size and in-store services in regions enacting changes mandated by the LD 114/1998, ...

Macroeconomic Order Flows: Explaining Equity and Exchange Rate Returns

Macroeconomic models of equity returns perform poorly. The proportion of daily index returns that these models explain is essentially zero. Instead of relying on macroeconomic determinants, our model includes a concept from microstructure order flow. Order flow is the proximate determinant of price in all microstructure models. We explain aggregate equity returns as well as exchange rates in a model with heterogenous beliefs. Belief changes are shown to be observable through order flow. To te...

Financial intermediaries in an estimated DSGE model for the United Kingdom

Gertler and Karadi combined financial intermediation and credit policy in a DSGE framework. We estimate their model with UK data using Bayesian techniques. To validate the fit, we evaluate the model’s empirical properties. Then we analyse the transmission mechanism of the shocks, set to produce a downturn. Finally, we examine the empirical importance of nominal, real and financial frictions and of different shocks. We find that banking friction seems to play an important role in explaining th...

Demographic projections: basic mechanisms and a retrospect on the French experience

Demographic projections are generally considered as more robust than all other kinds of socio-economic forecasts. But doubts are sometimes cast on their relevance, especially when strong revisions of previous projections are proposed, as done by INSEE in 2006. The purpose of this paper is to come back on the scope and limits of these projections. We first recall their methodology and a few elementary results concerning population dynamics, with a particular emphasis on how fertility and migra...

El registro de nacimiento: el derecho a tener derechos

Este número del Innocenti Digest se está dedicado al tema del registro de nacimiento, un derecho humano fundamental que abre el camino a los demás derechos, como el derecho a la educación y a los cuidados médicos, a la participación y a la protección. Se explica por qué cada año queda sin inscribir en un registro el nacimiento de más de 50 millones de bebés. Jurídicamente hablando, estos niños no existen y se les niega el derecho a tener un nombre y una nacionalidad oficiales. Sus posibilidad...

Heterogeneous Demand for Food Diversity: A Quantile Regression Analysis

Poverty and inequality studies frequently use the quantile regression approach to provide results on the impact of determinants at different points of the distribution of a dependent variable. To innovate diversity research this paper uses quantile regressions to identify determinants at different points of the food diversity distribution. Regional and household level differences in demand for food diversity are analysed based on a pooled sample of Canadian data of the Family Food Expenditure...

A simple three-wave Approximate Riemann Solver for the Saint-Venant–Exner equations

Erosion and sediments transport processes have a great impact on industrial structures and on water quality. Despite its limitations, the Saint-Venant–Exner system is still (and for sure for some years) widely used in industrial codes to model the bedload sediment transport. In practice, its numerical resolution is mostly handled by a splitting technic that allows a weak coupling between hydraulic and morphodynamic distinct softwares but may suffer from important stability issues. In recent w...

Stochastic Frontier Models With Correlated Error Components

In the productivity modelling literature, the disturbances U (representing technical inefficiency) and V (representing noise) of the composite error W=V-U of the stochastic frontier model are assumed to be independent random variables. By employing the copula approach to statistical modelling, the joint behaviour of U and V can be parameterised thereby allowing the data the opportunity to determine the adequacy of the independence assumption. In this context, three examples of the copula appr...