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Direct Foreign Investments And Productivity Growth In Hungarian Firms, 1992-1999

Sgard, Jérôme - William Davidson Institute, University of Michigan - 2001

The impact of FDI on total factor productivity in Hungary during the 1990s' is assessed with a large enterprise panel …

Persistent link: https://www.econbiz.de/10005784803

Determinants of Exchange Rate Practices in the MENA Countries: Some Further Empirical Results

Daly, Sfia M.; Sami, Mouley - William Davidson Institute, University of Michigan - 2009

This paper analyses the determinants of exchange rate practices in 15 MENA countries for the 1977- 2007 period placing special emphasis on structural and macroeconomic explanations. We use three different exchange rate regime classifications in order to avoid potentially misleading...

Persistent link: https://www.econbiz.de/10008529036

The Choice of Exchange Rate Regimes in the MENA Countries: a Probit Analysis

Daly, Sfia - William Davidson Institute, University of Michigan - 2007

This paper analysis the choice of exchange regimes of 17 economies in the MENA region for the period 1990-2000. For this purpose we use both de jure and de facto regime classifications and estimate a series of binomial and multinomial probit models. Regressions results highlight the important...

Persistent link: https://www.econbiz.de/10005677586

SHORT- AND MEDIUM-TERM DETERMINANTS OF CURRENT ACCOUNT BALANCES IN MIDDLE EAST AND NORTH AFRICA COUNTRIES

Aristovnik, Aleksander - William Davidson Institute, University of Michigan - 2007

analyzes. For this purpose, a (dynamic) panel-regression technique is used to characterize the properties of current account …

Persistent link: https://www.econbiz.de/10005677672

Implications of ERM2 for Poland’s Monetary Policy

Orlowski, Lucjan; Rybinski, Krzyzstof - William Davidson Institute, University of Michigan - 2005

employing the Johanssen cointegration tests and the threshold generalized autoregressive heteroscedasticity model with the in …

Persistent link: https://www.econbiz.de/10005784742

Infrastructure and Growth: Empirical Evidence

Egert, Balazs; Kozluk, Tomasz; Sutherland, Douglas - William Davidson Institute, University of Michigan - 2009

Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities competition...

Persistent link: https://www.econbiz.de/10008528994

Yuan Real Exchange Rate Undervaluation, 1997-2006. How Much, How Often? Not Much, Not Often

Chen, Jeff; Deng, Wende; Kemme, David - William Davidson Institute, University of Michigan - 2008

Yuan real effective exchange rate misalignment is esitimated in a behavioral equilibrium exchange rate (BEER) model for the period 1997 to third quarter 2007. Using the Beveridge-Nelson decomposition a vector error correction model (VECM) of the exchange rate as a function of macroeconomic...

Persistent link: https://www.econbiz.de/10008529011

Real and Monetary Convergence within the European Union and Between the European Union and Candidate Countries: A Rolling Cointegration Approach

Brada, Josef C.; Kutan, Ali M.; Zhou, Su - William Davidson Institute, University of Michigan - 2002

We use rolling cointegration to measure the convergence of base money, M2, the consumer price index and industrial …. Counties that recently joined the EU exhibit time-varying cointegration with the reference countries over much of the 1980 …-2000 sample period. Cointegration for the transition economies was comparable for M2 and prices, but less so for monetary policy …

Persistent link: https://www.econbiz.de/10005489862

Equilibrium Real Exchange Rates in Central Europe's Transition Economies: Knocking on Heaven's Door

Égert, Balázs - William Davidson Institute, University of Michigan - 2002

. The empirical part of the paper consists in estimating a VAR-based 3-equation cointegration system. Long-term equilibrium … estimated cointegration relationship connecting the RER with relative prices and the current account. Results show that the gap …

Persistent link: https://www.econbiz.de/10005207893

Real Exchange Rate Misalignment: Prelude to Crisis?

Kemme, David M.; Roy, Saktinil - William Davidson Institute, University of Michigan - 2005

A model of the long run equilibrium real exchange rate based upon macroeconomic fundamentals is employed to calculate real exchange rate misalignments for Poland and Russia during the 1990s using the Beveridge and Nelson (1981) decomposition of macrofundamentals into transitory and permanent...

Persistent link: https://www.econbiz.de/10005652606