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Monetary Policy Transmission in Italy: A BVAR Analysis with Sign Restriction
Bayesian VAR methods conjugate prior Litterman prior
2010/12/6
In this paper, we propose a Bayesian VAR model to examine the short term effects of monetary policy shocks on the Italian economy. Firstly, our BVAR model uses the Cholesky decomposition to identify ...
Corporate Manager’s Behavior Restriction Model
Ownership Structure Investor Protection and Manager’s Behavior Restriction
2007/4/9
The issues of investor protection and manager’s behavior restriction have been discussed since the naissance of corporation. This paper will demonstrate the following basic hypothesis by a simple mode...