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Income and happiness across Europe : do reference values matter?

Caporale, Guglielmo Maria; Georgellis, Yannis; … - 2007

Persistent link: https://www.econbiz.de/10003624017

Persistence and cyclical dependence in the monthly Euribor rate

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2011

This paper analyses two well-known features of interest rates, namely their time dependence and their cyclical structure. Specifically, it focuses on the monthly Euribor rate, using monthly data from January 1994 to May 2011. Models based on fractional integration at the long run or zero...

Persistent link: https://www.econbiz.de/10009380406

Persistence, non-linearities and structural breaks in European stock market indices

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; Poza, Carlos - 2019

This paper examines persistence, structural breaks and non-linearities in the case of five European stock market indices, namely the FTSE100 (UK), DAX30 (Germany), CAC40 (France), IBEX35 (Spain) and FTSE MIB40 (Italy), using fractional integration methods. The empirical results provide no...

Persistent link: https://www.econbiz.de/10012024535

Commanding nature by obeying her : a review essay on Joel Mokyr's A Culture of Growth

Spolaore, Enrico - 2019

Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel Mokyr persuasively argues that sustained technological progress stemmed from a change in cultural beliefs. The change occurred gradually during the seventeenth and eighteenth...

Persistent link: https://www.econbiz.de/10012035061

Cycles and long-range behaviour in the European stock markets

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; Poza, Carlos - 2019

This paper uses a modelling framework which includes two singularities (or poles) in the spectral density function, one corresponding to the long-run (zero) frequency and the other to the cyclical (non-zero) frequency. The adopted specification is very general, since it allows for fractional...

Persistent link: https://www.econbiz.de/10012123055

Social organizations and political institutions : why China and Europe diverged

Mokyr, Joel; Tabellini, Guido Enrico - 2023

Western Europe. An important factor, recognized in the literature, is that China centralized state institutions very early on …, while Europe remained politically fragmented for much longer. These initial differences, however, were amplified by the … different social organizations (clans in China, corporate structures in Europe) that spread in these two societies at the turn …

Persistent link: https://www.econbiz.de/10014265605

Persistence of the sovereign debt components and debt sustainability : some evidence for the US and Europe

Caporale, Guglielmo Maria; Martin-Valmayor, Miguel A.; … - 2024

This paper analyses the persistence and mean reversion properties of sovereign debt and its components by applying fractional integration methods to long runs of annual data starting in 1831 for the UK and the US, in 1862 for Italy and in 1881 for France and Germany, and ending in all cases in...

Persistent link: https://www.econbiz.de/10015077843

The short-run and long-run effects of trade openness on financial development : some panel evidence for Europe

Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2021

This paper analyses the short- and long-run effects of trade openness on financial development in a panel including data on 35 European countries over the period 2001-2019. For this purpose, it uses the PMG (pooled mean group) estimator for dynamic panels developed by Pesaran et al. (1999). The...

Persistent link: https://www.econbiz.de/10012514560

Unemployment persistence in Europe : evidence from the 27 EU countries

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; Trejo, … - 2021

This paper investigates unemployment persistence in the 27 EU member states by applying fractional integration methods to quarterly data (both seasonally adjusted and unadjusted) from 2000q1 to 2020q4. The obtained evidence points to high levels of persistence in all cases. With seasonally...

Persistent link: https://www.econbiz.de/10012668044

The Covid-19 pandemic and European trade patterns : a sectoral analysis

Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2022

This paper examines how the Covid-19 pandemic affected European trade patterns. Specifically, dynamic panel data models are estimated to assess the effects on exports and imports of various sectors and products (selected on the basis of their trading volume or strategic importance) of the...

Persistent link: https://www.econbiz.de/10013457807