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Johannes Fedderke
Pennsylvania State University
107Publications
24H-index
1,973Citations
Publications 107
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#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Kaini Li (PSU: Pennsylvania State University)
Abstract Real asset markets are characterized by illiquidity and heterogeneous assets, presenting challenges to price estimators. Use of a new dataset of 7,553 auction fine art lots brought to market in South Africa, for 2009–14, allows us to examine the full sales hedonic price estimator over a wide set of characteristics. Results validate full sale hedonic pricing: Identities of artists, medium and genre, dating characteristics, and physical characteristics of artwork are significant. External...
#1Johannes Fedderke (University of the Witwatersrand)H-Index: 24
#2Marina Marinkov (IMF: International Monetary Fund)H-Index: 1
This paper presents a test diagnostic that determines whether financial shocks are due to the propagation of idiosyncratic shocks originating in a single source country (or group of countries), or a reflection of market interdependence due to factors common across markets. The test is given by the ratio, λ, of the unconditional to the conditional correlation coefficient between markets. We demonstrate analytically that the test statistic is robust to heteroscedasticity due to conditional market ...
We consider the relative empirical performance of a range of inflation models for South Africa. Model coverage is of Phillips-curve, New Keynesian Phillips curve, monetarist, and structural models of inflation. Our core findings are that the single most robust covariate of inflation is unit labour cost. We further decompose unit labour cost into changes in the nominal wage and real labour productivity. The principal association is a strong positive relationship between inflation and nominal wage...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
This paper presents empirical evidence in support of an account of unbalanced growth in the South African economy: an interaction between sectorally differentiated total factor productivity growth, with a price elasticity of demand below unity. As sectors with faster TFP growth produce more real output over time, their relative prices fall, with the price changes triggering increases in consumption demand that less than offset the price fall. As a result sectoral shares in nominal output decline...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Nonso ObikiliH-Index: 2
Last.Nicola Viegi (University of Pretoria)H-Index: 11
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This paper uses newly available firm-level tax data to evaluate the market structure in South African manufacturing sectors in the period 2010.12. To describe the market structure we compute markups for South African manufacturing firms and concentration indexes for 4-digit manufacturing sectors. We find both significant markups and significant concentration across most sectors.We compare computed markups and concentration with early estimates in South Africa and with other international benchma...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Robert Klitgaard (CGU: Claremont Graduate University)H-Index: 16
Last.Valerio Napolioni (Stanford University)H-Index: 19
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Abstract Historical pathogen burdens are examined as possible triggers for genetic adaptation. Evidence of adaptation emerges for the acid phosphatase locus 1 ( ACP1 ), interleukin-6 ( IL6 ), interleukin-10 ( IL10 ), human leukocyte antigen ( HLA ) polymorphisms, along with a measure of heterozygosity over 783 alleles. Results are robust to controlling for the physical and historical environment humans faced, and to endogeneity of the historical pathogen burden measure. The present study represe...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Dennis C. Jett (PSU: Pennsylvania State University)H-Index: 2
This paper explores the appointment of career diplomats and political appointments to ambassadorial positions, across a range of characteristics that serve to indicate the attractiveness of the posting. The results of the paper suggest that political appointees are more likely to become ambassadors in high income OECD countries, that are strong tourist destinations, are located in Western Europe, and that carry lower hardship allowances, than are career diplomats. We also show that the greater t...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Daniel K. Mengisteab (PSU: Pennsylvania State University)H-Index: 1
This paper estimates the potential output of the South African economy using several univariate filters as well as taking a production function approach. Our aim is to compare the sensitivity of the results to the different methodologies and different measurements of output. We find that the potential output is sensitive to the different methodologies and different measures of output. A Cobb-Douglas specification of the production function is employed, dividing the economy into eight sectors. We...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Farayi GwenhamoH-Index: 4
Last.Ivo LourencoH-Index: 1
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This paper presents new institutional measures for Zambia. Coverage is of political rights and freedoms, of property rights, and of political instability. The sample period is from 1947 to 2007. Comparison of the indices with directly comparable Zimbabwean and Malawian series, shows strong sources of divergence in institutional conditions. The paper also considers interaction amongst the institutional measures, and between the institutional measures and measures of economic development. We find ...
#1Johannes Fedderke (PSU: Pennsylvania State University)H-Index: 24
#2Yang Liu (PKU: Peking University)H-Index: 1
This paper examines the nature and sources of productivity growth in South African manufacturing sectors, from an international comparative perspective. On panel data estimations, we find that the evidence tends to support Schumpeterian explanations of productivity growth for a panel of countries including both developed and developing countries, and a panel of South African manufacturing sectors. By contrast, semi‐endogenous productivity growth is supported for a panel of OECD (Organisation for...
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