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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 …
Persistent link: https://www.econbiz.de/10005076782
the increased sophistication in clearing arrangements is the ongoing process of European economic integration, ie the euro …
Persistent link: https://www.econbiz.de/10005134670
stationarity, integration and cointegration, that continues by the appreciation of the multilateral and bilateral causality among …
Persistent link: https://www.econbiz.de/10005408149
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...
Persistent link: https://www.econbiz.de/10005119301
Using the framework of a dynamic intertemporal optimization model of an open economy, it is shown that the long-run investment-saving correlation follows directly from the economy's dynamic budget constraint and this does not depend on the degree of international capital mobility. Therefore,...
Persistent link: https://www.econbiz.de/10005119491
The diversity visa lottery popularly known as the D.V lottery is a U.S relatively new immigration policy that was … in the U.S. However, from the policy inception, immigration specialists seriously doubted the claimed objective. They … would be probably had to verify. In this paper, we review in details the D.V immigration policy program considering …
Persistent link: https://www.econbiz.de/10005125765
Although immigration of workers generates a positive externality on members of domestic pension systems, many countries … effects from immigration as well. …
Persistent link: https://www.econbiz.de/10005125989