Browsing by Subject "price dynamics"
Now showing items 1-3 of 3
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Article
Global versus local shocks in micro price dynamics
(2016)A number of recent papers point to the importance of distinguishing between the price reaction to macro and micro shocks. We emphasize instead the importance of distinguishing between global and local shocks. We exploit a ...
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Article
Hedonic Price Analysis and Selectivity Bias: Water Salinity and Demand for Land
(2003)Hedonic valuation of quality attributes can be misleading when the assumption that these attributes are exogenous to sample selection is violated. This paper considers the simultaneity between hedonic valuation and sample ...
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Article
On modelling speculative prices: the empirical literature
(2001)Traditionally, financial theory and in particular asset pricing models have assumed (implicitly or explicitly) a certain probabilistic structure for speculative prices. The probabilistic structure is usually defined in ...