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Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2009

output equation with a coefficient equal to the share of capital. The long run theory is tested using a new quarterly data … long run relations: an output equation as predicted by the theory and a standard real money demand equation with inflation …

Persistent link: https://www.econbiz.de/10003897747

How I learned to stop worrying and love the crisis

Fidrmuc, Jan; Tichit, Ariane - 2012

We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the...

Persistent link: https://www.econbiz.de/10009488896

Econometric analysis of high dimensional VARs featuring a dominant unit

Pesaran, M. Hashem; Chudik, Alexander - 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/10003969212

Large panel data models with cross-sectional dependence : a survey

Chudik, Alexander; Pesaran, M. Hashem - 2013

This paper provides an overview of the recent literature on estimation and inference in large panel data models with cross-sectional dependence. It reviews panel data models with strictly exogenous regressors as well as dynamic models with weakly exogenous regressors. The paper begins with a...

Persistent link: https://www.econbiz.de/10009786037

General diagnostic tests for cross section dependence in panels

Pesaran, M. Hashem - 2004

, and as predicted by the theory, quite robust to the presence of unit roots and structural breaks. The use of the CD test …

Persistent link: https://www.econbiz.de/10011449852

Testing weak cross-sectional dependence in large panels

Pesaran, M. Hashem - 2012

This paper considers testing the hypothesis that errors in a panel data model are weakly Cross-sectionally dependent (CD), using the exponent of cross-sectional dependence introduced recently in Bailey, Kapetanios and Pesaran (2012). It is shown that the implicit null of the CD test depends on...

Persistent link: https://www.econbiz.de/10009533962

The economic effects of international sanctions : an event study

Gutmann, Jerg; Neuenkirch, Matthias; Neumeier, Florian - 2021

Although international sanctions are a widely used instrument of coercion, their economic effects are still not fully understood. This study uses a novel dataset and an event study approach to evaluate the economic consequences of international sanctions, thereby accounting for pre-treatment...

Persistent link: https://www.econbiz.de/10012500430

An empirical growth model for major oil exporters

Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2012

-run output equation with a coefficient equal to the share of capital (á). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …

Persistent link: https://www.econbiz.de/10009518225

Reform, uncertainty and spillovers : a gravity model approach

Fidrmuc, Jan; Karaja, Elira; Tichit, Ariane - 2012

Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of similar countries. We motivate this hypothesis with a simple...

Persistent link: https://www.econbiz.de/10009503832

Analyzing structural reforms using a behavioral macroeconomic model

De Grauwe, Paul; Ji, Yuemei - 2017

We use a behavioral macroeconomic model to analyze how structural reforms affect the economy in the short and in the long run. We consider two types of structural reforms. The first one increases the flexibility of wages and prices; the second one raises potential output in the economy. We find...

Persistent link: https://www.econbiz.de/10011663556