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regions. Using data for 1992-2001, we find strong sigma divergence simultaneously with beta convergence. he results indicate …This empirical note uses publicly available Goskomstat data to investigate income growth and convergence across Russian …
Persistent link: https://www.econbiz.de/10005125010
. It is also shown that divergence or convergence may arise instead of overtaking, depending on the initial levels of …
Persistent link: https://www.econbiz.de/10005407627
. It is also shown that divergence or convergence may arise instead of overtaking, depending on the initial levels of …
Persistent link: https://www.econbiz.de/10005556070
”) in western part. The result of OLS & GLS regression on absolute convergence model found the existence of â-divergence … process of East Java in overall period (1983-2003), consistent with the ó convergence which showing upward trend (divergence …). Meanwhile, the same divergence process is also found in absolute convergence equation estimated for each club, even though in …
Persistent link: https://www.econbiz.de/10005408277
Using nonlinear unit root tests developed by Kapetanios et al. (2003), we find strong evidence that the Consumer Price Index (CPI) and Wholesale Price Index (WPI) based Malaysian Ringgit – U.S. Dollar (MYR/USD) real exchange rates are nonlinear stationary, implying that MYR/USD nominal...
Persistent link: https://www.econbiz.de/10005124933
Using nonlinear unit root tests developed by Kapetanios et al. (2003), we find strong evidence that the Consumer Price Index (CPI) and Wholesale Price Index (WPI) based Malaysian Ringgit – U.S. Dollar (MYR/USD) real exchange rates are nonlinear stationary, implying that MYR/USD nominal...
Persistent link: https://www.econbiz.de/10005124941
In a dataset of weekly observations over the period since 1990, the discount on UK closed-end mutual funds is shown to be nonstationary, but reverting to a nonzero long run mean. Although the long run discount could be explained by factors like management expenses etc., its short run...
Persistent link: https://www.econbiz.de/10005134817
in both Malawi and South Africa. Key words: real effective exchange rate, stationarity, cointegration …
Persistent link: https://www.econbiz.de/10005556421
This paper investigates in a consistent semi-structural empirical framework three current issues of monetary policy in the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation of economic structure prior to EMU with current ECB...
Persistent link: https://www.econbiz.de/10005076690
We experimentally test whether a class of monetary policy decision rules describes decision making in a population of inexperienced central bankers. In our experiments, subjects repeatedly set the short-term interest rate for a computer economy with inflation as their target. A large majority of...
Persistent link: https://www.econbiz.de/10005126190