Narrow search
Showing 1 - 10 of 386
Cover Image
Credit Shocks and Macroeconomic Fluctuations in Emerging Markets
Houssa, Romain - 2013
In this paper, we examine the role of global and domestic credit supply shocks in macroeconomic fluctuations for Emerging Markets. For this purpose, we impose a set of zero and sign restrictions within a medium-scale Bayesian Vector Auto-Regressive model. Quarterly data from South Africa and G-7...
Persistent link: https://www.econbiz.de/10013080004
Cover Image
Credit Shocks and Macroeconomic Fluctuations in Emerging Markets
Romain, Houssa; Mohimont, Jolan; Otrok, Chris - CESifo - 2013
In this paper, we examine the role of global and domestic credit supply shocks in macroeconomic fluctuations for Emerging Markets. For this purpose, we impose a set of zero and sign restrictions within a medium-scale Bayesian Vector Auto-Regressive model. Quarterly data from South Africa and G-7...
Persistent link: https://www.econbiz.de/10010668472
Cover Image
Infinite Dimensional VARs and Factor Models
Chudik, Alexander; Pesaran, M. Hashem - CESifo - 2007
dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the … number of endogenous variables tends to infinity. It is shown that under such restrictions, an infinite-dimensional VAR (or … IVAR) can be arbitrarily well characterized by a large number of finite-dimensional models in the spirit of the global VAR …
Persistent link: https://www.econbiz.de/10005766069
Cover Image
A Macroeconomic Analysis of Energy Subsidies in a Small Open Economy
Glomm, Gerhard - 2015
We construct a dynamic model of a small open economy to analyze the effects of large energy subsidies. The model includes domestic energy production and consumption, trade in energy at world market prices, as well as private and public sector production. The model is calibrated to Egypt and used...
Persistent link: https://www.econbiz.de/10013027091
Cover Image
Regulation, Institutions, and Productivity : New Macroeconomic Evidence from OECD Countries
Egert, Balazs - 2017
Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a...
Persistent link: https://www.econbiz.de/10012958442
Cover Image
Effectiveness and Transmission of the ECB's Balance Sheet Policies
Boeckx, Jef; Dossche, Maarten; Peersman, Gert - CESifo - 2014
crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …
Persistent link: https://www.econbiz.de/10010887047
Cover Image
Macroeconomic Modeling When Agents are Imperfectly Informed
De Grauwe, Paul - 2013
DSGE-models have become important tools of analysis not only in academia but increasingly in the board rooms of central banks. The success of these models has much to do with the coherence of the intellectual framework it provides. The limitations of these models come from the fact that they...
Persistent link: https://www.econbiz.de/10012753586
Cover Image
Exit Dynamics of Start-Up Firms : Does Profit Matter?
Golombek, Rolf - 2015
We estimate by means of indirect inference a structural economic model where firms' exit and investment decisions are the solution to a discrete-continuous dynamic programming problem. In the model the exit probability depends on the current capital stock and a measure of short-run...
Persistent link: https://www.econbiz.de/10013028914
Cover Image
Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit
Pesaran, M. Hashem - 2010
This paper extends the analysis of infinite dimensional vector autoregressive models (IVAR) proposed in Chudik and Pesaran (2010) to the case where one of the variables or the cross section units in the IVAR model is dominant or pervasive. This extension is not straightforward and involves...
Persistent link: https://www.econbiz.de/10013143234
Cover Image
Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit
Pesaran, M. Hashem; Chudik, Alexander - CESifo - 2010
This paper extends the analysis of infinite dimensional vector autoregressive models (IVAR) proposed in Chudik and Pesaran (2010) to the case where one of the variables or the cross section units in the IVAR model is dominant or pervasive. This extension is not straightforward and involves...
Persistent link: https://www.econbiz.de/10008583635