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Full-Text Articles in Social and Behavioral Sciences
Output Growth And Unexpected Government Expenditures, Diego Escobari, Andre V. Mollick
Output Growth And Unexpected Government Expenditures, Diego Escobari, Andre V. Mollick
Economics and Finance Faculty Publications and Presentations
This paper takes into account the dynamic feedback between government expenditures and output in a model that separates the effects of expected and unexpected government expenditures on output. We allow for standard determinants based on Solow's growth model, as well as financial globalization and trade openness measures for a sample of 56 industrial and emerging market economies over the 1970-2004 period. We find that unanticipated government expenditures have negative and significant effects on output growth, with higher effects in developed economies. Along with savings responses, we interpret these results based on how fiscal policy reacts to business cycles. Anticipated government …
More Studies In Rio Grande Valley History, Milo Kearney, Anthony K. Knopp, Antonio Zavaleta
More Studies In Rio Grande Valley History, Milo Kearney, Anthony K. Knopp, Antonio Zavaleta
UTRGV & TSC Regional History Series
Matamoros' love song to Brownsville : a poem / Milo Kearney -- Con un pie en cada lado : origins of El Rancho San Lorenzo de las Minas / Mary Jo Galindo -- The rise of banking in Matamoros and Brownsville / Louis Benavides -- The daily Brownsville ranchero / Norman C. Delaney -- Maximilian's bed in Brownsville / Don Clifford -- The U.S. consulate in Matamoros and instability in Matamoros and Brownsville in 1870 / César García -- The Lightbournes of the Point Isabel lighthouse / Antonio N. Zavaleta -- Movie theaters for Hispanics in the Rio Grande Valley, …
Asymmetric Price Adjustments In Airlines, Diego Escobari
Asymmetric Price Adjustments In Airlines, Diego Escobari
Economics and Finance Faculty Publications and Presentations
This paper uses a unique daily time series data set to investigate the asymmetric response of airline prices to capacity costs driven by demand fluctuations. We use a Markov regime-switching model with time-varying transition probabilities to capture the time variation in the response. The results show strong evidence of asymmetric price adjustments: positive cost shifts have a large positive effect, whereas negative cost shifts have no effect. The asymmetry is also explained by summer travel but not by the size of cost shifts. The findings show the importance of consumer heterogeneity and capacity constraints as a source of asymmetric responses. …