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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - CESifo - 2013
and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010723543
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Energy Consumption and Economic Growth Revisited in African Countries
Eggoh, Jude C.; Bangaké, Chrysost; Rault, Christophe - CESifo - 2011
growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality … cointegration relationship when country groups are considered. …
Persistent link: https://www.econbiz.de/10009320785
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Infrastructure and Growth: Empirical Evidence
Egert, Balazs; Kozluk, Tomasz; Sutherland, Douglas - CESifo - 2009
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities competition...
Persistent link: https://www.econbiz.de/10005013038
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Energy Consumption, Economic Growth and CO2 Emissions in Middle East and North African Countries
Arouri, Mohamed El Hedi; Youssef, Adel Ben; M'Henni, Hatem - CESifo - 2012
implementing recent bootstrap panel unit root tests and cointegration techniques to investigate the relationship between carbon …
Persistent link: https://www.econbiz.de/10009645652
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Stock Prices and Economic Fluctuations:A Markov Switching Structural VectorAutoregressive Analysis
Lanne, Markku; Luetkepohl, Helmut - CESifo - 2008
The role of expectations for economic fluctuations has received considerable attention in recent business cycle analysis. We exploit Markov regime switching models to identify shocks in cointegrated structural vector autoregressions and investigate different identification schemes for bi-variate...
Persistent link: https://www.econbiz.de/10005405830
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Common Trends and Common Cycles among Interest Rates of the G7-Countries
Lindenberg, Nannette; Westermann, Frank - CESifo - 2009
operandi to analyze the time series characteristics of interest rates and to test for common features. We conduct cointegration …
Persistent link: https://www.econbiz.de/10005405925
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Terms of Trade, Catch-up, and Home Market Effect: The Example of Japan
Urban, Dieter M. - CESifo - 2007
. These two effects are testedagainst each other in a cointegration analysis for Japan and the US from 1957 until 1997. Income …
Persistent link: https://www.econbiz.de/10005405944
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Exchange Rate Dynamics: Where is the Saddle Path?
Cheung, Yin-Wong; Gardeazabal, Javier; Vázquez, Jesús - CESifo - 2004
Persistent link: https://www.econbiz.de/10005405963
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MIMIC Models, Cointegration and Error Correction: An Application to the French Shadow Economy
Bühn, Andreas; Schneider, Friedrich - CESifo - 2008
differences. Arguably, this shortcoming is rooted in the lack of an appropriate MIMIC model which considers cointegration among … variables. This paper develops a MIMIC model which estimates the cointegration equilibrium relationship and the error correction …
Persistent link: https://www.econbiz.de/10005406427
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Carbon Content of Electricity Futures in Phase II of the EU ETS
Fell, Harrison; Hintermann, Beat; Vollebergh, Herman R. J. - CESifo - 2013
We estimate the relationship between electricity, fuel and carbon prices in Germany, France, the Netherlands, the Nord Pool market and Spain, using one-year futures for base and peak load prices for the years 2009-2012, corresponding to physical settlement during the second market phase of the...
Persistent link: https://www.econbiz.de/10010877729