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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis

Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - 2013

the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development … to economic growth. We find little evidence of reverse causation as well as bi-directional causality. We interpret this …

Persistent link: https://www.econbiz.de/10010328841

Energy consumption and economic growth revisited in African countries

Eggoh, Jude C.; Bangaké, Chrysost; Rault, Christophe - 2011

growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality …

Persistent link: https://www.econbiz.de/10010278854

A Life-Cycle Analysis of French Household Electricity Demand

Bélaïd, Fateh; Rault, Christophe; Massié, Camille - 2021

This paper develops a pseudo-panel approach to examine household electricity demand behaviour through the household … evidence that the income elasticity of French residential electricity demand is 0.22, averaged over our four cohorts of … electricity consumption follows an inverted U-shaped distribution as a function of the age of the household's head. Most notably …

Persistent link: https://www.econbiz.de/10013250745

On econometric analysis of structural systems with permanent and transitory shocks and exogenous variables

Pagan, Adrian; Pesaran, Mohammad Hashem - 2007

This paper considers the implications of the permanent/transitory decomposition of shocks for identification of structural models in the general case where the model might contain more than one permanent structural shock. It provides a simple and intuitive generalization of the influential work...

Persistent link: https://www.econbiz.de/10010276205

MIMIC models, cointegration and error correction: an application to the French shadow economy

Bühn, Andreas; Schneider, Friedrich G. - 2008

The analysis of economic loss attributed to the shadow economy has attracted much attention in recent years by both academics and policy makers. Often, multiple indicators multiple causes (MIMIC) models are applied to time series data estimating the size and development of the shadow economy for...

Persistent link: https://www.econbiz.de/10010276604

Population size and the size of government

Krieger, Tim; Meierrieks, Daniel - 2019

We examine the effect of population size on government size for a panel of 130 countries for the period between 1970 and 2014. We show that previous analyses of the nexus between population size and government size are incorrectly specified and fail to consider the influence of cross-sectional...

Persistent link: https://www.econbiz.de/10012018265

Cash in Circulation and the Shadow Economy: An Empirical Investigation for Euro Area Countries and Beyond

Seitz, Franz; Reimers, Hans-Eggert; Schneider, Friedrich - 2018

We analyze the net issues of the national euro area central banks in relation to the dynamics of the shadow economy within a panel cointegration framework. Besides the total net issues, we distinguish between large, medium and small euro banknotes and take due account of other determinants of...

Persistent link: https://www.econbiz.de/10011887403

What do we really know about fiscal sustainability in the EU?: a panel data diagnostic

Afonso, António; Rault, Christophe - 2008

We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel cointegration techniques developed by...

Persistent link: https://www.econbiz.de/10010264310

3-Step analysis of public finances sustainability: the case of the European Union

Afonso, António; Rault, Christophe - 2008

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues ratios. Secondly, we apply the bootstrap panel...

Persistent link: https://www.econbiz.de/10010264433

Budgetary and external imbalances relationship: a panel data diagnostic

Afonso, António; Rault, Christophe - 2009

We assess the cointegration relationship between current account and budget balances, and effective real exchange rates, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship between the two imbalances for each country for the...

Persistent link: https://www.econbiz.de/10010264569