Showing 1 - 10 of 543
There has been much study of the consequences of economic freedom but, outside of the role of political institutions …, there has been little study of the determinants of economic freedom. We investigate whether religion affects economic … freedom. Our cross-sectional dataset includes 137 countries averaged over the period 2001-2010. Simple correlations show that …
Persistent link: https://www.econbiz.de/10012984498
Using the KOF Index of Globalization and two indices of economic freedom, we empirically analyze whether globalization … economic freedom, while empowerment rights are not robustly affected. Due to the lack of consensus about the appropriate level …
Persistent link: https://www.econbiz.de/10013316142
In this contribution we study the relationship between income inequality and economic freedom for a panel of 100 … economic freedom, while causation does not run in the opposite direction. We argue that the negative effect of inequality on … resources. The elite uses this power to curtail economic freedom to defend its economic interests by discouraging innovation …
Persistent link: https://www.econbiz.de/10012999751
We provide evidence that the robust association between cognitive skills and economic growth reflects a causal effect of cognitive skills and supports the economic benefits of effective school policy. We develop a new common metric that allows tracking student achievement across countries, over...
Persistent link: https://www.econbiz.de/10012765255
exports are no longer significant while the value of subsoil assets has a significant positive effect on growth. But the World …
Persistent link: https://www.econbiz.de/10013316217
This paper presents a global model linking individual country vector error-correcting models in which the domestic variables are related to the country-specific variables as an approximate solution to a global common factor model. This global VAR is estimated for 26 countries, the euro area...
Persistent link: https://www.econbiz.de/10012783809
We analyze the interaction between monetary policy in the US and the global economy, using a global vector autoregressive model with time-varying parameters and stochastic volatility (TVP-SV-GVAR). We find that a contractionary US monetary policy shock leads to a persistent fall in international...
Persistent link: https://www.econbiz.de/10012994181
New Keynesian Phillips Curves (NKPC) have been extensively used in the analysis of monetary policy, but yet there are a number of issues of concern about how they are estimated and then related to the underlying macroeconomic theory. The first is whether such equations are identified. To check...
Persistent link: https://www.econbiz.de/10013316577
Modelling of conditional volatilities and correlations across asset returns is an integral part of portfolio decision making and risk management. Over the past three decades there has been a trend towards increased asset return correlations across markets, a trend which has been accentuated...
Persistent link: https://www.econbiz.de/10013094817
most countries around the world. Turning to the relationship between countries, we show that average life satisfaction is …
Persistent link: https://www.econbiz.de/10013132796