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Political Regime Change, Economic Reform and Growth Accelerations

Jong-A-Pin, Richard - 2011

Using an improved definition and indicator of growth accelerations, we examine whether political regimes, regime changes, and economic reform are related to growth accelerations. Our results show that economic growth accelerations are preceded by economic reforms. Furthermore, we find that...

Persistent link: https://www.econbiz.de/10012756913

The Impact of Product and Labour Market Reform on Growth : Evidence for OECD Countries Based on Local Projections

de Haan, Jakob - 2020

This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...

Persistent link: https://www.econbiz.de/10012829322

Testing Uncovered Interest Rate Parity Using LIBOR

Omer, Muhammad - 2013

, when market-specific heterogeneity is controlled for. Furthermore, the estimation results show that the speed of adjustment …

Persistent link: https://www.econbiz.de/10013090772

Using Real-Time Data to Test for Political Budget Cycles

Jong-A-Pin, Richard - 2012

We use real‐time annual data on the fiscal balance, government current spending, current revenues and net capital outlays as published at a half yearly frequency in the OECD Economic Outlook for 25 OECD countries. For each fiscal year t we have a number of forecasts, a first release, and...

Persistent link: https://www.econbiz.de/10013100272

Does Household Borrowing Reduce the Trade Balance? Evidence from Developing and Developed Countries

Xu, Can; Jacobs, Jan; de Haan, Jakob - 2021

We examine the dynamic impact of household borrowing on the trade balance using data from 33 developing countries and … 36 developed countries over the 1980-2017 period. Our findings suggest that the impact of household borrowing on the … trade balance is by and large negative, both in the short and long run. We show that household borrowing’s adverse effects …

Persistent link: https://www.econbiz.de/10013224078

The Importance of Being Vigilant : Has ECB Communication Influenced Euro Area Inflation Expectations?

Jansen, David-Jan; de Haan, Jakob - 2021

Using daily data on inflation-indexed bonds, we find evidence of a negative relationship between ECB communication regarding risks to price stability - measured on the basis of the frequency and strength of the keyword 'vigilance' - and changes in euro area break-even inflation. However, this...

Persistent link: https://www.econbiz.de/10013316794

Interest Rate Linkages in EMU Countries : A Rolling Threshold Vector Error-Correction Approach

Poghosyan, Tigran; de Haan, Jakob - 2021

This paper revisits financial market integration in the European Economic and Monetary Union, using a threshold vector error-correction model (TVECM) for a fixed rolling window. This approach enables us to analyze the dynamics of transaction costs and detect any co-movements with (policy...

Persistent link: https://www.econbiz.de/10013316906

Does High Inflation Cause Central Bankers to Lose Their Job? Evidence Based on a New Data Set

Dreher, Axel; Sturm, Jan-Egbert; de Haan, Jakob - 2021

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

Persistent link: https://www.econbiz.de/10013316991

Asymmetric monetary transmission in EMU : the robustness of VAR conclusions and Cecchettis legal family theory

Elbourne, Adam; de Haan, Jakob - 2004

We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the ranking of the magnitudes of the price and output responses....

Persistent link: https://www.econbiz.de/10010261078

Has the stability and growth pact impeded political budget cycles in the European Union?

Mink, Mark; de Haan, Jakob - 2005

This paper examines whether there is a political budget cycle (PBC) in countries in the euro area. Using a multivariate model for the period 1999-2004 and various election indicators we find strong evidence that the Stability and Growth Pact has not restricted fiscal policy makers in the euro...

Persistent link: https://www.econbiz.de/10010261324