This paper investigates, using cointegration and Granger-causality techniques, whether a stable long-run co-movement exists between world commodity prices and U.K. retail prices, and whether short-run changes in commodity prices convey information about future movements in U.K. retail prices....

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds that Granger-causality either stems from German to other European interest rates...

The recent development literature stresses that countries that receive large revenues from natural resource endowments typically raise less revenue from domestic taxation, and that this creates governance problems because the lower domestic tax effort reduces the incentive for the public...

We use a bivariate probit model with sample selection to investigate the factors affecting financial exclusion of Bolivian households. We find evidence that for heads of households, being female and indigenous is likely to result in exclusion from formal credit mechanisms, though being employed...

A growing economics literature argues that taxation can strengthen the quality of governance and public sector institutions by making governments more responsive and accountable to their citizens, building capacity, and improving public policy. In this paper, we provide empirical support for...

We examine the intertemporal relation between government revenue and expenditure in the UK during 1750–2004. We pay particular attention to long-run trends by applying a battery of unit root and cointegration techniques to the data, and we use a modified Granger-causality test on data spans...

The literature on the economics of fiscal decentralization stresses the potential for both positive and negative effects on the quality of governance in a country. The empirical evidence on the issue is scant. In this paper, we add to the empirical evidence by testing for a relationship between...

In Colombia core and total inflation are both (1) series, and core inflation is cointegrated with total inflation. Granger causality tests using error correction methodology indicate that divergence of total inflation from core inflation is quickly revers

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds that Granger-causality either stems from German to other European interest rates...

This paper investigates, using cointegration and Granger-causality techniques, whether a stable long-run co-movement exists between world commodity prices and U.K. retail prices, and whether short-run changes in commodity prices convey information about future movements in U.K. retail prices....