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Capital markets appreciate stability. It means that companies reporting smooth earnings patterns tend to be priced relatively high. However, the empirical issue is whether such valuation premiums for ...
Empirical tests of sale theories: Hungarian milk prices     chain level prices  milk products  price promotion  sale theories       font style='font-size:12px;'> 2015/11/26
The paper tests various predictions of the sale theory literature, using the retailer specific price data in Hungary. Besides being set in a New Member State, characterised by rather different history...
Th e purpose of the study is to analyse the short and long-term relationships between the world oil prices (Europe Brent Spot Price and West Texas Intermediate Spot Price) and the agricultural commo...
This project investigates how changes in Metropolitan Statistical Area (MSA)-level housing prices affect household fertility decisions. Recognizing that housing is a major cost associated with child r...
Rising Wage Inequality: The Role of Composition and Prices     Prices  Rising Wage Inequality:       font style='font-size:12px;'> 2015/9/21
During the early 1980s, earnings inequality in the U.S. labor market rose relatively uniformly throughout the wage distribution. But this uniformity gave way to a significant divergence starting in ...
Bidding and Prices in the AWS-3 Auction     AWS-3 Auction  Prices i       font style='font-size:12px;'> 2015/9/18
The FCC’s AWS-3 spectrum auction raised revenues in excess of $44 billion—a new historic high. Our analysis demonstrates that the auction’s results largely line up with the bidding strategies one wo...
We develop a two-sector monetary model with a centralized and decentralized market. Activities in the centralizedmarket resemble those in a standard New Keynesian economy with price rigidities. In the...
We measure unit value electricity prices using 2 million annual observations on U.S. manufacturing plants from 1963 to 2000. These prices display tremendous cross-sectional dispersion, 85–95% of whi...
Improvements in Macroeconomic Stability: The Role of Wages and Prices.
This paper quantifies the extent to which the shift in the aggregate household-level demand for postal delivery services can be attributed to the appearance of alternative modes of communication vers...
This paper analyzes the extent to which the conditions in the emissions permit market for nitrogen oxides (NOx) operated by the South Coast Air Quality Management District (SCAQMD) in the Los Ange...
Widespread participation of retail electricity consumers in short-term wholesale electricity markets throughout the United States is rapidly becoming technologically feasible. A number of juri...
This paper presents estimates of the customer-level demand for electricity by industrial and commercial customers purchasing electricity according to the half-hourly energy prices from the England a...
Futures prices as risk-adjusted forecasts of monetary policy     Federal funds futures  Monetary policy       font style='font-size:12px;'> 2015/7/23
Many researchers have used federal funds futures rates as measures of financial markets’ expectations of future monetary policy. However, to the extent that federal funds futures reflect...
Asset Prices And Asset Quantities     Asset Quantities  Prices       font style='font-size:12px;'> 2015/7/23
We propose an organizing framework that determines asset prices by equating household sector asset demand derived from an economic model to the observed supply of assets provided by other sectors. W...

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