Showing 1 - 10 of 12
This study assesses the short and long-run behaviour of long-term sovereign bond yields in OECD countries, for the period 1973-2008. We employ a dynamic panel approach to reflect financial and economic integration, and to increase the performance and accuracy of the tests. Given the existence of...
Persistent link: https://www.econbiz.de/10013135912
, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …
Persistent link: https://www.econbiz.de/10013158140
This paper analyses the stochastic properties of and the bilateral linkages between the central bank policy rates of the US, the Eurozone, Australia, Canada, Japan and the UK using fractional integration and cointegration techniques respectively. The univariate analysis suggests a high degree of...
Persistent link: https://www.econbiz.de/10012958879
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...
Persistent link: https://www.econbiz.de/10012943161
We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …
Persistent link: https://www.econbiz.de/10012770443
This paper analyses the long-memory properties of US and European stock indices, as well as their linkages, using fractional integration and fractional cointegration techniques. These methods are more general and have higher power than the standard ones usually employed in the literature. The...
Persistent link: https://www.econbiz.de/10013013497
This paper estimates the effects of the EU enlargements in the 2000s for trade in parts and components and trade in … EU and OECD countries. The estimation approach accounts for firm heterogeneity and selection bias in a panel …-data framework. We find a positive and significant effect of the EU-accession on CEECs trade in intermediate and final goods. The …
Persistent link: https://www.econbiz.de/10013049209
In a major setback for the EU, only two of four Eastern Partnership countries actually initialed Association Agreements … the EU, the paper shows that the Eastern Partnership countries, including Ukraine, by far the largest in the group, gain … significantly from free trade agreements with the EU, but gain little if anything from free trade agreements with Russia …
Persistent link: https://www.econbiz.de/10013050477
This paper investigates the statistical features and the macroeconomic determinants of youth unemployment in a number of European countries. First, it explores its short and long memory properties by estimating both autoregressive and fractional integration models. This type of analysis sheds...
Persistent link: https://www.econbiz.de/10013055420
persistence has declined after Brexit. These findings highlight the importance of completing swiftly the negotiations with the EU …
Persistent link: https://www.econbiz.de/10013315435