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Financial Development and Sectoral Output Growth in 19th Century Germany
Diekmann, Katharina - 2010
In this paper we re-evaluate the hypothesis that the development of the financial sector was an essential factor behind economic growth in 19th century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that was initially recorded by Walther Hoffmann (1965)....
Persistent link: https://www.econbiz.de/10013134887
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Immigration, Growth and Unemployment : Panel VAR Evidence from OECD Countries
Boubtane, Ekrame; Coulibaly, Dramane; Rault, Christophe - 2021
This paper examines empirically the interaction between immigration and host country economic conditions. We employ panel VAR techniques to use a large annual dataset on 22 OECD countries over the period 1987-2009. The VAR approach allows to addresses the endogeneity problem by allowing the...
Persistent link: https://www.econbiz.de/10013315737
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Role of Production Networks in Sustaining and Rebalancing Asia's Growth
Thorbecke, Willem - 2012
economic growth in East Asia. Developed Asia produces technology-intensive intermediate goods and capital goods and ships them …, the ability of the rest of the world to absorb Asia's exports has decreased. Export production in some Asian countries has … production networks in Asia. It then discusses how developing Asian countries could leverage production networks to facilitate …
Persistent link: https://www.econbiz.de/10013101411
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Dutch Disease in the Post-Soviet Countries of Central and South-West Asia : How Contagious is it?
Égert, Balázs - 2014
This study seeks to determine the extent to which the former communist states of Central and South-West Asia are …
Persistent link: https://www.econbiz.de/10013064144
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Seasonality in Smoking Behaviour : Re-Evaluating the Effects of the 2005 Public Smoking Ban in Italy
Bono, Emilia Del; Grünberger, Klaus; Vuri, Daniela - 2021
This paper investigates the impact of the public smoking ban which came into effect in Italy on January 2005 on individual smoking behaviour. Current empirical evidence supports the existence of a negative effect of the Italian ban on smoking prevalence and consumption in the general population....
Persistent link: https://www.econbiz.de/10013315560
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Real Effects of Quantitative Easing at the Zero-Lower Bound : Structural VAR-Based Evidence from Japan
Schenkelberg, Heike - 2013
Using post-1995 Japanese data we propose a theory-based sign-restriction SVAR approach to identify monetary policy shocks when the economy is at the zero-lower bound. The identifying restrictions accord with predictions of corresponding DSGE models. Our results show that while a quantitative...
Persistent link: https://www.econbiz.de/10013092811
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Structural Interpretation of Vecor Autoregressions with Incomplete Identification : Revisiting the Role of Oil Supply and Demand Shocks
Baumeister, Christiane - 2018
Traditional approaches to structural vector autoregressions can be viewed as special cases of Bayesian inference arising from very strong prior beliefs. These methods can be generalized with a less restrictive formulation that incorporates uncertainty about the identifying assumptions...
Persistent link: https://www.econbiz.de/10012926556
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Aggregation in Large Dynamic Panels
Pesaran, M. Hashem - 2015
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10013038262
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Technology Shocks and Aggregate Fluctuations in an Estimated Hybrid RBC Model
Malley, Jim - 2009
This paper contributes to the on-going empirical debate regarding the role of the RBC model and in particular of technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov-Chain Monte-Carlo (MCMC) methods. Within this framework we...
Persistent link: https://www.econbiz.de/10013160381
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Assets Returns Volatility and Investment Horizon : The French Case
Bec, Frederique - 2009
This paper explores French assets returns predictability within a VAR setup. Using quarterly data from 1970Q4 to 2006Q4, it turns out that bonds, equities and bills returns are actually predictable. This feature implies that the investment horizon does indeed matter in the asset allocation. The...
Persistent link: https://www.econbiz.de/10013160520