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misalignment with no feedback effects. In the second stage, a model of nominal exchange rate is estimated. Since we find co-integration …; Integration * The findings, interpretation and conclusions expressed in this paper are entirely those of the author. They don …
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the increased sophistication in clearing arrangements is the ongoing process of European economic integration, ie the euro …
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stationarity, integration and cointegration, that continues by the appreciation of the multilateral and bilateral causality among …
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stationarity, integration and cointegration, that continues by the appreciation of the multilateral and bilateral causality among …
Persistent link: https://www.econbiz.de/10005408172
level of economic development and different involvement in the process of European integration. The first group consists of … European integration and economic situation are visible also in banking efficiency. Thus we test the hypothesis that the higher … degree of European economic integration and economic development goes hand in hand with higher baking efficiency. Employing …
Persistent link: https://www.econbiz.de/10005413069
Existence of a cointegration relationship between two time series in the time domain imposes restrictions on the series zero-frequency behaviour in terms of their squared coherence, phase, and gain, in the frequency domain. I derive these restrictions by studying cross-spectral properties of a...
Persistent link: https://www.econbiz.de/10005556273
This paper applies the gravity trade model to assess Mercosur-European Union trade, and trade potential following the agreements reached recently between both trade blocks. The model ist tested for a sample of 19 countries, the four formal members of Mercosur plus Chile and the fifteen members...
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