risk prediction plays an increasing role in financial risk management. this study aims to investigate existence of asymmetry and long memory volatility in tehran stock exchange index daily data over period of 1998-2006. 1467 daily index returns are used for volatility modeling via garch (long & short memory) processes for both normal and t-student innovations. the specification and forecasting ...

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According to standard dynamic choice theories, patience is a key driving factor behind the accumulation of the proximate determinants of economic development. Using a novel representative data set on time preferences from 80,000 individuals in 76 countries, we investigate the empirical relevance of this hypothesis in the context of a development accounting framework. We find a significant reduc...

Intra-household Resource Allocation: Do Parents Reduce or Reinforce Child Cognitive Ability Gaps? Do parents invest more or less in their high ability children? We provide new evidence on this question by comparing observed ability differences and observed investment differences between siblings in the NLSY. To overcome endogeneity issues we use sibling differences in handedness as an instrumen...

This paper examines the impact of being an innovator on firm productivity in Taiwan. Using a panel of 48794 firms observed over the 1997-2003 period, and distributed across 23 industries, we compute TFP by estimating Translog production functions with conventional K, L, E, M inputs. We evaluate the impact of being an innovator on TFP using propensity score matching. The rationale is that, over ...

This paper presents, within a framework of the Solow model, evidence that there should be two different reasons for convergence. One is due to diminishing returns to capital and the other is due to technological diffusion. This paper shows that OECD and low income countries follow a pattern of conditional convergence but middle income countries do not. This seems to imply that technological dif...

This paper presents, within a framework of the Solow model, evidence that there should be two different reasons for convergence. One is due to diminishing returns to capital and the other is due to technological diffusion. This paper shows that OECD and low income countries follow a pattern of conditional convergence but middle income countries do not. This seems to imply that technological dif...

Article history: Received 27 March 2010 Received in revised form 24 September 2010 Accepted 26 October 2010 Available online xxxx JEL classification: I20 O40 C83