Volume 243, Issue 2

A new first-order integer-valued autoregressive process (INAR(1)) with extended Poisson innovations is introduced based on a signed version of the thinning operator, called relative binomial thinning operator, which can be considered as an extension of standard binomial thinning operator introduced by Steutel, F.W. and van Harn, K. (1979. Discrete analogues of self-decomposability and stability. Ann. Probab. 7: 893–899). It is appropriate for modeling Z $\mathbb{Z}$ -valued time series and either positive or negative correlations. Some properties of the process are established. Conditional least squares, Yule–Walker and conditional maximum likelihood methods are considered for the parameter estimation of the model. Moreover, simulation experiments are carried out to attest to the performance of the estimation methods. The applicability of the proposed model is investigated through a practical data set of the Saudi stock market.

The coexistence of fiat money (cash) and digital monies constitutes a system of parallel currencies as media of exchange. This paper asks whether a new (digital) currency is essential: Does a new currency allow for a better resource allocation even if a fully accepted currency is in circulation and remains in circulation? Using the dual currency search model of Kiyotaki and Wright (1993. A search-theoretic approach to monetary economics. Am. Econ. Rev. 83: 63–77), we show how the introduction of a secondary currency affects average utility. There is some scope for a welfare improvement as the welfare effect depends on differences in returns and costs, and, in particular, on the proportion of cash traders who will be replaced by digital money traders.

In the monthly ifo Business Survey, around 9000 companies answer questions about their current business situation, expectations, and plans for the near future as well as on other business variables. Beyond the regular questions, ifo has also the possibility to include supplementary questions into the survey. These questions may be prompted by the intention to obtain an ad hoc picture of the effects of certain developments in economic policy on the companies and their reactions to them (e.g. the Covid-19 pandemic or the war in Ukraine). Another reason is the collection of data for research projects. This article gives an overview of all supplementary questions since 2009 through May 2022. It intends to show examples of the use of the obtained data and can be used as a guide for future research projects. Researchers can work with the firm-level microdata of supplementary and regular survey questions at the LMU-ifo Economics & Business Data Center.

Information on individuals holding managerial or supervisory positions within establishments is important for various aspects of labour market research. However, identifying managers or supervisors in German administrative records is not straightforward. This paper uses survey information from the Panel Study Labour Market and Social Security (PASS) to predict managerial or supervisory tasks in administrative records that can be used to enhance the identification of managers and supervisors in the Sample of Integrated Labour Market Biographies (SIAB). Furthermore, I provide an applied example in which I calculate gender differences in the probability to hold a managerial position.