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Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model

Wdowinski, Piotr - CESifo - 2005

In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...

Persistent link: https://www.econbiz.de/10005766248

Determinants of Country Beta Risk in Poland

Wdowinski, Piotr - CESifo - 2004

In the paper we analyze determinants of the capital market beta risk in Poland in the monthly period 1996-2002. The beta risk is measured as a time-varying parameter estimated in a regression of the Warsaw stock indexes (WIG and WIG20 separately) on major foreign stock market indexes (DJIA,...

Persistent link: https://www.econbiz.de/10005249463

Resource Rents, Power, and Political Stability

Bjorvatn, Kjetil; Farzanegan, Mohammad Reza - CESifo - 2014

We study the association between resource rents and political stability, highlighting the importance of the distribution of political power as a mediating factor. We present a simple theoretical model showing that increased rents are likely to be positively associated with the stability of a...

Persistent link: https://www.econbiz.de/10010756166

The Collapse Speed of China's Exports in the 2008-2009 Financial Crisis

Jing, Ran - CESifo - 2011

This paper studies the performance of China’s exports during the 2008—2009 financial crisis. It focuses on the speed at … which China’s exports were hit by this downturn. Product-country monthly exports data is utilized. It is found that GDP …

Persistent link: https://www.econbiz.de/10009320783

The Deepening China Brazil Economic Relationship

Whalley, John; Medianu, Dana - CESifo - 2010

We document key features of the deepening economic relationship between Brazil and China. This is evident from sharply … international fora. Data presented show bilateral trade between Brazil and China surging after 2001 and China is now Brazil … rates suggest that China will become the dominant trade partner for Brazil surprisingly soon. …

Persistent link: https://www.econbiz.de/10008833874

The Rapidly Deepening India-China Economic Relationship

Whalley, John; Shekhar, Tanmaya - CESifo - 2010

In this paper we focus on the rapidly deepening bilateral India-China economic relationship. Each is deeply integrating … into the global economy through trade and FDI inflows, China is seen as primarily manufacturing-lead growth with India as … China, and the two have to be considered a joint global presence. India and China are thus viewed in the literature in …

Persistent link: https://www.econbiz.de/10008671685

Macroeconomic Modeling when Agents are Imperfectly Informed

Grauwe, Paul De - CESifo - 2008

DSGE-models have become important tools of analysis not only in academia but increasingly in the board rooms of central banks. The success of these models has much to do with the coherence of the intellectual framework it provides. The limitations of these models come from the fact that they...

Persistent link: https://www.econbiz.de/10005405712

Generalized Stochastic Gradient Learning

Evans, George W.; Honkapohja, Seppo; Williams, Noah - CESifo - 2005

We study the properties of generalized stochastic gradient (GSG) learning in forward-looking models. We examine how the conditions for stability of standard stochastic gradient (SG) learning both differ from and are related to E-stability, which governs stability under least squares learning. SG...

Persistent link: https://www.econbiz.de/10005406017

Essential Inputs and Unbounded Output: An Alternative Characterization of the Neoclassical Production Function

Irmen, Andreas; Maussner, Alfred - CESifo - 2014

The Inada (1963) conditions constitute a defining property of the neoclassical production function with capital and labor as arguments. Are these conditions justifiable on economic grounds? Yes, they are: we show that a production function with positive, yet diminishing marginal products and...

Persistent link: https://www.econbiz.de/10011099760

Human Capital Accumulation and the Macroeconomy in an Ageing Society

Heijdra, Ben J.; Reijnders, Laurie S. M. - CESifo - 2012

How do population ageing shocks affect the long-run macroeconomic performance of an economy? To answer this question we build a general equilibrium overlapping generations model of a closed economy featuring endogenous factor prices. Finitely-lived individuals are endowed with perfect foresight...

Persistent link: https://www.econbiz.de/10010877922