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This paper presents an empirical investigation into the level and stability of money demand (M1) in Nigeria between 1960 and 2008. In addition to estimating the canonical specification, alternative specifications are presented that include additional variables to proxy for the cost of holding...
Persistent link: https://www.econbiz.de/10008684880
Trend extraction from time series is often performed by using the filter proposed by Leser (1961), also known as the Hodrick-Prescott filter. Practical problems arise, however, if the time series contains structural breaks (as produced by German unification for German time series, for instance),...
Persistent link: https://www.econbiz.de/10005649812
This paper analyses whether stock markets of South East Europe (SEE) have become more integrated with regional and global stock markets during 2000s. Using a variety of co integration methodologies we show that SEE stock markets have no long-run relationship with their mature counterparts. This...
Persistent link: https://www.econbiz.de/10011109681
Trend extraction from time series is often performed by using the filter proposed by Leser (1961), also known as the Hodrick-Prescott filter. A practical problem arises, however, when the time series contains structural breaks (such as produced by German unification for German time series, for...
Persistent link: https://www.econbiz.de/10005187327
to cointegration testing procedure is employed to obtain the short-run and long-run elasticities of suicides with respect …
Persistent link: https://www.econbiz.de/10005025730
The aim of this article is to assess the empirical evidence of the nexus between public expenditure and inflation for the Mediterranean countries during the period 1970-2009, using a time-series approach. After a brief introduction, a concise survey of the economic literature on this issue is...
Persistent link: https://www.econbiz.de/10008804692
income, for grants on production, and for public investments). We found a cointegration relationship for three out of five …
Persistent link: https://www.econbiz.de/10008694030
restrictions and the subsequent impressive boom of consumer loans. We use multivariate cointegration techniques to estimate a …
Persistent link: https://www.econbiz.de/10011107752
presence of structural breaks in series. In order to test the cointegration relationships of series, three different … cointegration techniques were applied to the data. First, the Gregory and Hansen (1996) cointegration test was applied, which allows … for one structural shift; then, for cases where two breaks were detected, the Hatemi-J (2008) cointegration test was …
Persistent link: https://www.econbiz.de/10011108007
The purpose of this paper is to investigate the level of capital mobility in the largest economies of Asia by testing the Feldstein-Horioka puzzle. Panel estimations using quarterly data for the period from 1995 to 2011 have been made for the seven largest economies of Asia, specifically Russia,...
Persistent link: https://www.econbiz.de/10011110580