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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 …

Persistent link: https://www.econbiz.de/10010723543

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

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

Structural Vector Autoregressions with Nonnormal Residuals

Lanne, Markku; Luetkepohl, Helmut - CESifo - 2006

derived from economic theory or institutional constraints. Sometimes the restrictions are insufficient for identifying all …

Persistent link: https://www.econbiz.de/10005766131

The Euro-Dollar Exchange Rate: Is it Fundamental?

Camarero, Mariam; Ordóñez, Javier; Tamarit, Cecilio - CESifo - 2002

-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus …

Persistent link: https://www.econbiz.de/10005196314

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

Black Market and Official Exchange Rates: Long-Run Equilibrium and Short-Run Dynamics

Caporale, Guglielmo Maria; Cerrato, Mario - CESifo - 2006

techniques and heterogeneous panel methods to test for the existence of a long-run relationship between these two types of …

Persistent link: https://www.econbiz.de/10005405731

3-Step Analysis of Public Finances Sustainability: the Case of the European Union

Afonso, António; Rault, Christophe - CESifo - 2008

ratios. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

Persistent link: https://www.econbiz.de/10005406275

Beyond the Salassa-Samuelson Effect in some New Member States of the European Union

García-Solanes, José; Sancho-Portero, Francisco I.; … - CESifo - 2007

This paper analyses the Balassa and Samuelson hypothesis in two groups of European countries: six New Member States (NMS) and six advanced EU-15 economies. It is found that the second stage of the hypothesis, which relates relative sector prices with the real exchange rate, does not hold...

Persistent link: https://www.econbiz.de/10005416475

What do we really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic

Afonso, António; Rault, Christophe - CESifo - 2008

apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee and Carrion …We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically …, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also …

Persistent link: https://www.econbiz.de/10005416479