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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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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
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Did US Consumers 'Save for a Rainy Day' Before the Great Recession?
Anundsen, André Kallåk; Nymoen, Ragnar - CESifo - 2015
consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price …
Persistent link: https://www.econbiz.de/10011278934
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The Sustainability of Fiscal Policy in Italy: A Long-Term Perspective
Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2012
debt and its ratio to GDP. Second, exploiting unit root analysis and cointegration, we test for the sustainability of …
Persistent link: https://www.econbiz.de/10010548150
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Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany
Buch, Claudia M.; Prieto, Esteban - CESifo - 2012
between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of …
Persistent link: https://www.econbiz.de/10010552440
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On the Linkages between Stock Prices and Exchange Rates: Evidence from the Banking Crisis of 2007-2010
Caporale, Guglielmo Maria; Hunter, John; Ali, Faek Menla - CESifo - 2013
Switzerland. Furthermore, causality-in-variance from stock returns to exchange rates changes is found in Japan and in the opposite …
Persistent link: https://www.econbiz.de/10010636593
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Testing for Common Cyclical Features in Var Models with Cointegration
Hecq, Alain; Palm, Franz; Urbain, Jean-Pierre - CESifo - 2001
We consider VAR models for variables exhibiting cointegration and common cyclical features. While the presence of … cointegration reduces the rank of the long-run multiplier matrix, other types of common features lead to rank reduction of the short …
Persistent link: https://www.econbiz.de/10005765794