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Why does the GARCH(1,1) model fail to provide sensible longer- horizon volatility forecasts?

Starica, Catalin; Herzel, Stefano; Nord, Tomas - EconWPA - 2005

The paper investigates from an empirical perspective aspects related to the occurrence of the IGARCH effect and to its impact on volatility forecasting. It reports the results of a detailed analysis of twelve samples of returns on financial indexes from major economies (Australia, Austria,...

Persistent link: https://www.econbiz.de/10005119069

Human Capital and Labour Productivity, Integration of Institutions and Endogenous Growth

Delsen, Lei; Schonewille, Mark - EconWPA - 1999

This paper is part of a project that attempts to reveal the way labour market institutions, human capital and labour productivity are interconnected. First we discuss two approaches in the human capital theory, stressing some difficulties that could be solved if the approaches are combined. It...

Persistent link: https://www.econbiz.de/10005125046

Monetary policy and the term structure of interest rates in a small open economy - a model framework approach

Kotlán, Viktor - EconWPA - 2001

Using a simple single-equation approach, many studies have shown that the term structure of interest rates or its approximation – the term spread is a potentially useful indicator of future inflation and/or future real economic activity. We argue that these results may be biased due to the...

Persistent link: https://www.econbiz.de/10005412662

An Overview of Strategy Development Models and the Ward-Rivani Model

Ward, David; Rivani, Elena - EconWPA - 2005

Numerous models for developing strategy, defining and aligning competitive advantage have been proposed over the years … how to classify and appreciate strategy tools and models. Mintzberg et al. have developed schools of thought to help … alleviate and categorise this problem but this approach lacks a comparison of the models found in industry e.g. BCG, 7S McKinsey …

Persistent link: https://www.econbiz.de/10005119386

The Determinants of Economic Well-being:An Application in the Indian States

Basu, Sudip Ranjan - EconWPA - 2005

The purpose of this paper is to explore the determinants of economic well-being. We provide a methodology to compute well-being by aggregating different socio-economic dimensions with factor analysis technique. We also estimate quality of good governance (using latent variable approach) and a...

Persistent link: https://www.econbiz.de/10005556056

Openness and Human Capital as Sources of Productivity Growth: An Empirical Investigation

Söderbom, Måns; Teal, Francis - EconWPA - 2004

Do openness to trade and higher levels of human capital promote faster productivity growth? That they do is a key implication of several versions of endogenous growth theory. To answer the question we use panel data on 93 countries spanning the 1970-2000 period. Controlling for fixed effects as...

Persistent link: https://www.econbiz.de/10005556098

Economic Growth, Well-Being and Governance under Economic Reforms: Evidence from Indian States

Basu, Sudip Ranjan - EconWPA - 2005

This paper provides empirical evidence, from the study of sixteen major Indian states for the period 1980-2001, that under the economic reform process, the better institutional mechanism could actually help economies to grow faster with higher level of economic well-being. We estimate economic...

Persistent link: https://www.econbiz.de/10005556115

Precio de la tierra con presión urbana: Un modelo para España.

Decimavilla, Esther; Mesonada, Carlos San Juan; … - EconWPA - 2005

models to identify fundamental factors related with agricultural productivity (expected agricultural rents) and location and …

Persistent link: https://www.econbiz.de/10005556233

Development of Ownership Structure and its Effect on Performance: Czech Firms from Mass Privatization

Kocenda, Evzen - EconWPA - 2002

This paper works with a broad data sample of Czech voucher-privatized firms during 1996 - 1999. It analyzes the development of ownership structure and consequently its effect on a firm's performance Ownership concentration had been quite high in 1996 and steadily increased. The single largest...

Persistent link: https://www.econbiz.de/10005556293

The Impact of Current Account Reversals on Growth in Central and Eastern Europe

Melecky, Martin - EconWPA - 2005

According to economic theory, the capital inflows reversal – so-called sudden stop – has a significant negative effect on economic growth. This paper investigates the direct impact of current account reversals on growth in Central and Eastern European countries. Two steps to conduct the...

Persistent link: https://www.econbiz.de/10005556614