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Stock Market Integration in Asia : Global or Regional? Evidence from Industry Level Panel Convergence Tests
Caporale, Guglielmo Maria - 2017
This paper examines global and regional stock market integration in Asia at both the aggregate and disaggregate (industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised as follows. In the pre-2008 crisis period, no...
Persistent link: https://www.econbiz.de/10012953892
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Construction of Composite Business Cycle Indicators in a Sparse Data Environment
Abberger, Klaus - 2011
Business cycle indicators are important instruments for monitoring economic development. When employing indicators one usually relies on a sound statistical database. This paper deals with indicator development in a sparse data situation. Indicator building is merged with temporal...
Persistent link: https://www.econbiz.de/10013120906
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The Role of the Log Transformation in Forecasting Economic Variables
Luetkepohl, Helmut - 2009
For forecasting and economic analysis many variables are used in logarithms (logs). In time series analysis this transformation is often considered to stabilize the variance of a series. We investigate under which conditions taking logs is beneficial for forecasting. Forecasts based on the...
Persistent link: https://www.econbiz.de/10012764276
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Economic Growth and Judicial Independence, a Dozen Years on : Cross-Country Evidence Using an Updated Set of Indicators
Voigt, Stefan - 2014
Over 10 years ago, Feld and Voigt (2003) introduced the first indicator for objectively measuring the actual independence of the judiciary and demonstrated its utility in a large cross-section of countries. The indicator has been widely used, but also criticized. This paper presents more recent...
Persistent link: https://www.econbiz.de/10013045337
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Modeling Fluctuations in the Global Demand for Commodities
Kilian, Lutz - 2018
It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic...
Persistent link: https://www.econbiz.de/10012930077
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Banking Crises and Crisis Dating : Theory and Evidence
Boyd, John H.; De Nicolo, Gianni; Loukoianova, Elena - 2021
We formulate a simple theoretical model of a banking industry that we use to identify and construct theory-based measures of systemic bank shocks (SBS). These measures differ from “banking crisis” (BC) indicators employed in many empirical studies, which are constructed using primarily...
Persistent link: https://www.econbiz.de/10013316186
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The Great Divergence : A Network Approach
Lindner, Ines - 2016
knowledge throughout the world explains a period of increasing world inequality after the take-off of the forerunners of the … industrial revolution, followed by decreasing relative inequality. Knowledge diffusion through a Small World network explains the … individual countries in the course of world development …
Persistent link: https://www.econbiz.de/10013001168
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Regional Inequality, Convergence, and its Determinants - A View from Outer Space
Lessmann, Christian - 2015
This paper provides a new data set of regional income inequalities within countries based on satellite nighttime light data. We first empirically study the relationship between luminosity data and regional incomes for those countries where regional income data are available. We subsequently use...
Persistent link: https://www.econbiz.de/10013023191
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Cross-Country Income Differences and Technology Diffusion in a Competitive World
Irmen, Andreas - 2012
-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the … policies such as subsidies to innovation investments explain a country's position in the eventual world income distribution …
Persistent link: https://www.econbiz.de/10012754962
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International Climate Agreements, Cost Reductions and Convergence of Partisan Politics
Laurency, Patrick; Schindler, Dirk - 2021
In recent years, differences between traditional and green parties have been leveled with respect to climate protection. We show that this partial convergence in party platforms can be explained by international climate agreements, effectively reducing greenhouse gas emissions. We set up a...
Persistent link: https://www.econbiz.de/10013315969