This study examines several dynamic heteroskedastic factor model specifications to test for the confidence set of model parametrizations that best incorporate economy-wide information for forecasting stock market volatility. To this end, diffusion indices (i.e. factors) are distilled from two large sets of US excess stock returns and macroeconomic variables. Using 40 years of data, the main emp...

This paper investigates the e¤ect of …nancial shocks using an estimated general equilibrium model that links the …rm’s ‡ows of …nancing with labor market variables. The results show that …nancial shocks have sizeable e¤ects on …nancial variables, vacancy posting, unemployment and wages. Shocks to the job destruction rate are important in describing ‡uctuations in output and unemployment. The an...

backgrounds and aims: characteristic property among tehran offensive and non- offensive drivers using cloninger , s treatment and character inventory questionnaire was studied. materials and methods: a cross- sectional study was carried out after coordinating with traffic police. 300 drivers: 150 offensive ( drivers with more than ten penalty points and 150 non- offensive drivers with less than...

Accurate and reliable forecasting on energy-related carbon dioxide (CO2) emissions is of great significance for climate policy decision making and energy planning. Due to the complicated nonlinear relationships of CO2 emissions with its driving forces, the accurate forecasting for CO2 emissions is a tedious work, which is an important issue worth studying. In this study, a novel CO2 emissions p...

The financial crisis of late 2008 shifted household expenditure downward, as financial institutions tightened lending standards and required repayment of outstanding consumer loans. The crisis also raised financial frictions by depleting the equity capital of financial institutions. The result was a severe reduction in business and residential investment expenditure. The zero bound on the inter...

While it is generally assumed that global plate motions are driven by the pattern of convection in the Earth’s mantle, the details of that link remain obscure. Bouyancy forces associated with subduction of cool, dense lithosphere at zones of plate convergence are thought to provide significant driving force, but the relative magnitudes of other driving and resisting forces are less clear, as ar...