Humanities and Social Sciences

Central European Journal of Economic Modelling and Econometrics

Content

Central European Journal of Economic Modelling and Econometrics | 2020 | No 2

Download PDF Download RIS Download Bibtex

Abstract

The studies of tobacco demand accounting for product diversity haveattracted much attention in the literature, but theex antemeasurements ofthe effects of product bans are relatively scarce. This paper aims to fill this gapand considers the 2020 EU-induced ban on menthol cigarettes as an example,focusing on the Polish market. In the proposed approach, a 2004-2017 product-level dataset for Poland is used to estimate a random coefficients logit modeland simulate the effects of the menthol ban and, for comparison, a cigaretteexcise hike. The dataset is unique as it encompassess substantial changes inthe tobacco tax level and structure that took place in Poland over the sampleperiod. The simulations suggest that the ban, despite switching of consumerstowards non-menthol cigarettes, results in relatively strong reduction in demandfor duty-paid cigarettes, stronger than in the case of the excise hike.

Go to article

Authors and Affiliations

Bartosz Olesiński
Download PDF Download RIS Download Bibtex

Abstract

Various quantile regression approaches are implemented to analyze thecharacteristics of Italian data on earnings in the tails. A changing coefficientspattern across quantiles shows increasing returns to education along the wagedistribution. A quantile decomposition approach shows that higher educationgrants higher return at all quantiles, thus implying additional, non-linear returnsto higher education throughout the entire pattern of the earning distribution.Wage gender gap displays a decreasing pattern across quantiles, and it doesnot disappear at the higher quantiles. The southern workers penalty decreasesacross quantiles as well for highly educated workers.

Go to article

Authors and Affiliations

Marilena Furno
Download PDF Download RIS Download Bibtex

Abstract

Initial public pensions are indexed to the economy-wide average wages, butpensions in progress are indexed to prices, average wages or their combinations– varying across countries and periods. We create a simple overlapping cohortsframework to study the properties of indexing pensions in progress – emphasizinga neglected issue: close wage paths should imply close benefit paths even at realwage shocks. This robustness criterion of an equitable pension system is onlysatisfied by wage indexing, which in turn requires the adjustment of the accrualrate. To minimize the redistribution from low-earning short-lived citizens tohigh-earning long-lived ones, progression should be introduced.

Go to article

Authors and Affiliations

András Simonovits
Download PDF Download RIS Download Bibtex

Abstract

The Internal Rating Based (IRB) approach requires that financialinstitutions estimate the Loss Given Default (LGD) parameter not only based onclosed defaults but also considering partial recoveries from incomplete workouts.This is one of the key issues in preparing bias-free samples, as there is aneed to estimate the remaining part of the recovery for incomplete defaultsbefore including them in the modeling process. In this paper, a new approachis proposed, where parametric and non-parametric methods are presented toestimate the remaining part of the recovery for incomplete defaults, in pre-defined intervals concerning sample selection bias. Additionally it is shown thatrecoveries are driven by different set of characteristics when default is aging.As an example, a study of major Polish bank is presented, where regressiontree outperforms other methods in the secured products segment, and fractionalregression provides the best results for non-secured ones.

Go to article

Authors and Affiliations

Wojciech Starosta

Instructions for authors


The Central European Journal of Economic Modelling and Econometrics bases on a fully electronic editorial system available at cejeme.com, cejeme.org, cejeme.eu or cejeme.pl. This web-based editorial tracking software enables a paper-free operation of the key editorial functions of the Journal. Papers are submitted for publication electronically via electronic system (see the link "Submit article"). Also the system provides free access to the electronic form of each issue. In the review process the Central European Journal of Economic Modelling and Econometrics obeys the double blind policy. Authors submitting articles to the Central European Journal of Economic Modelling and Econometrics must follow the guidelines available at: http://www.cejeme.com/submissionguidelines.aspx. Any manuscript which does not conform to instructions will be rejected.


Submission Guidelines and Instructions for Authors of accepted papers please visit: http://cejeme.org/submissionguidelines.aspx

This page uses 'cookies'. Learn more