BI Research Centre's Series: Nye registreringer
Viser treff 161-180 av 329
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Boom or Gloom? Examining the Dutch Disease in Two-Speed Economies
(CAMP Working Paper Series;6/2014, Working paper, 2014)Traditional studies of the Dutch disease do not account for productivity spillovers between the booming resource sector and other domestic sectors. We put forward a simple theory model that allows for such spillovers. ... -
Voting When the Stakes Are High
(CAMP Working Paper Series;8/2013, Working paper, 2013)Most theories of voter behavior predict that electoral participation will be higher in elections where more is at stake. We test this prediction by studying how participation is affected by exogenous variation in local ... -
Tax concerns and agency concerns in dividend policy: Holding companies as a separating device
(CCGR Working Paper;2/2013, Working paper, 2013)Higher dividends may create value by reducing agency costs, but may also destroy value by increasing tax payments. This paper shows empirically how stockholders use holding companies to establish indirect ownership through ... -
Petro Populism
(CAMP Working Paper Series;1/2014, Working paper, 2014)We aim to explain petro populism|the excessive use of oil revenues to buy political support. To reap the full gains of natural resource income politicians need to remain in office over time. Hence, even a rent-seeking ... -
Liquidity and Shareholder Activism
(CCGR Working Paper;1/2014, Working paper, 2014)Blockholders' incentives to intervene in corporate governance are weakened by free-rider problems and high costs of activism. Theory suggests activists may recoup expenses through informed trading of target firms' stock ... -
China’s Savings Multiplier
(CAMP Working Paper Series;4/2013, Working paper, 2013)China’s growth is characterized by massive capital accumulation, made possible by high and increasing domestic savings. In this paper we develop a model with the aim of explaining why savings rates have been high and ... -
Oil price density forecasts: Exploring the linkages with stock markets
(CAMP Working Paper Series;3/2012, Working paper, 2012)In the recent years several commentators hinted at an increase of the correlation between equity and commodity prices, and blamed investment in commodity-related products for this. First, this paper investigates such ... -
Local Natural Resource Curse?
(CAMP Working Paper Series;5/2013, Working paper, 2013)The large variation in revenues among Norwegian local governments can partly be explained by revenues collected from hydropower production. This revenue variation, combined with good data availability, can be used to ... -
Petro Rents, Political Institutions, and Hidden Wealth: Evidence from Bank Deposits in Tax Havens
(CAMP Working Paper Series;7/2013, Working paper, 2013)Do political institutions limit rent-seeking by politicians? To address this question, we study the transformation of petroleum rents into hidden wealth using unique data on bank deposits in tax havens. We find that ... -
Measuring sovereign contagion in Europe
(CAMP Working Paper Series;4/2012, Working paper, 2014-06-24)This paper analyzes the sovereign risk contagion using credit default swaps (CDS) and bond premiums for the major eurozone countries. By emphasizing several econometric approaches (nonlinear regression, quantile regression ... -
Boom or gloom? Examining the Dutch disease in a two-speed economy
(CAMP Working Paper Series;6/2013, Working paper, 2013)Traditional studies of the Dutch disease do not typically account for productiv- ity spillovers between the booming energy sector and non-oil sectors. This study identifies and quantifies these spillovers using a Bayesian ... -
Audits of private firms
(CCGR Working Paper;1/2013, Working paper, 2013)Private and public firms differ across a number of important dimensions. Public firms are under scrutiny by stock exchanges, regulators, and market participants and they share the feature of separation of ownership and ... -
Global and regional business cycles: Shocks and propagations
(CAMP Working Paper Series;3/2013, Working paper, 2014-06-24)We study the synchronization of real and nominal variables across four dfferent regions of the world, Asia, Europe, North and South America, covering 32 different countries. Employing a FAVAR framework, we distinguish ... -
Sectorial interdependence and business cycle synchronization in small open economies
(CAMP Working Paper Series;2/2014, Working paper, 2014)Existing DSGE models are not able to reproduce the observed influence of international business cycles on small open economies. We construct a two-sector New Keynesian model to address this puzzle. The set-up takes into ... -
Do Central Banks Respond to Exchange Rate Movements? A Markov-Switching Structural Investigation
(CAMP Working Paper Series;9/2013, Working paper, 2013)Do central banks respond to exchange rate movements? According to Lubik and Schorfheide (2007) who estimate structural general equilibrium models with monetary policy rules, the answer is "Yes, some do". However, their ... -
Why Do Voters Dismantle Checks and Balances? Extensions and Robustness. (Online appendix)
(CAMP Working Paper Series;2/2013, Working paper, 2013)In this online appendix we extend the basic model in the paper in several directions, discuss the robustness of the results, and moreover what new mechanisms our extensions implies as compared to the ones in the basic model. -
Does oil promote or prevent coups?
(CAMP Working Papers Series;7/2014, Working paper, 2014)A large literature investigates the relation between oil and conflict, yet no empirical study has found any link between oil and coups d’´etat. Using a new data set on oil production separated into onshore and offshore ... -
The Fiscal Incentive of GHG Cap and Trade: Permits May Be Too Cheap and Developed Countries May Abate Too Little
(CAMP Working Papers Series;9/2014, Working paper, 2014)The theoretical justification for a greenhouse gas (GHG) cap and trade system is that participants will trade emission permits until their marginal cost of abatement equals the equilibrium price of emission permits. However, ... -
Efficient Perturbation Methods for Solving Regime-Switching DSGE Models
(CAMP Working Papers Series;10/2014, Working paper, 2014)In an environment where economic structures break, variances change, distributions shift, conventional policies weaken and past events tend to reoccur, economic agents have to form expectations over different regimes. ... -
To Structure Political Conflict: the Institutionalisation of Referendums on European Integration in the Nordic Countries
(CEAS Reports;1/2007, Working paper, 2007)This is a paper presented at the European Consortium for Political Research Joint Sessions of Workshops, Helsinki, May 7-12, 2007.