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The role of asset markets for private consumption: evidence from paneleconometric models
Dreger, Christian; Reimers, Hans-Eggert - 2009
We explore the long and short run relationship between private consumption, disposable income and housing and financial wealth approximated by price indices for a panel of industrialized countries. Consumption, income and wealth are cointegrated in their common, but not in their idiosyncratic...
Persistent link: https://www.econbiz.de/10010271108
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Business confidence and forecasting of housing prices and rents in large German cities
Kholodilin, Konstantin A.; Siliverstovs, Boriss - 2014
In this paper, we evaluate the forecasting ability of 115 indicators to predict the housing prices and rents in 71 German cities. Above all, we are interested in whether the local business confidence indicators can allow substantially improving the forecasts, given the local nature of the...
Persistent link: https://www.econbiz.de/10010331958
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A Dynamic Panel Data Approach to the Forecasting of the GDP of German Länder
Kholodilin, Konstantin Arkadievich; Siliverstovs, Boriss; … - 2007
In this paper, we make multi-step forecasts of the annual growth rates of the real GDP for each of the 16 German Länder (states) simultaneously. Beside the usual panel data models, such as pooled and fixed-effects models, we apply panel models that explicitly account for spatial dependence...
Persistent link: https://www.econbiz.de/10012038663
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The Russian regional convergence process: where does it go?
Kholodilin, Konstantin Arkadievich; Oshchepkov, Aleksey; … - 2009
This paper investigates the income convergence among Russian regions in the period 1998-2006. It makes two major contributions to rather extensive literature on the regional convergence in Russia. First, it identifies spatial regimes using the exploratory spatial data analysis. Second, it...
Persistent link: https://www.econbiz.de/10010274375
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Measuring regional inequality by internet car price advertisements: Evidence for Germany
Kholodilin, Konstantin A.; Siliverstovs, Boriss - 2010
We suggest to use Internet car sale price advertisements for measuring economic inequality between and within German regions. Our estimates of regional income levels and Gini indices based on advertisements are highly, positively correlated with the official figures. This implies that the...
Persistent link: https://www.econbiz.de/10010285750
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On the Stability of the German Beveridge Curve: A Spatial Econometric Perspective
Kosfeld, Reinhold; Dreger, Christian; Eckey, Hans-Friedrich - 2006
In this paper, the framework of the aggregated Beveridge curve is used to investigate the effectiveness of the job matching process using German regional labour market data. For a fixed matching technology, the Beveridge curve postulates a negative relationship between the unemployment rate and...
Persistent link: https://www.econbiz.de/10010260953
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European Regional Convergence in a Human Capital Augmented Solow Model
Eckey, Hans-Friedrich; Dreger, Christian; Türck, Matthias - 2006
In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications...
Persistent link: https://www.econbiz.de/10010260988
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Do wealthier households save more? The impact of the demographic factor
Belke, Ansgar; Dreger, Christian; Ochmann, Richard - 2012
the savings rate is not homogeneous. On average, the effect attributed to real estate dominates the other components of … wealth. In addition, the savings rate strongly responds to demographic trends. Besides the direct impact of the age structure …, an indirect effect arises through the accumulation of wealth. The savings rate does not decrease with age in a monotonic …
Persistent link: https://www.econbiz.de/10010287332
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M3 money demand and excess liquidity in the euro area
Dreger, Christian; Wolters, Jürgen - 2008
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10010291768
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Money velocity and asset prices in the euro area
Dreger, Christian; Wolters, Jürgen - 2008
Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand function seems to be increasingly unstable if more recent data are used. If the link between money balances and the macroeconomy is fragile, the rationale of monetary aggregates in...
Persistent link: https://www.econbiz.de/10010291770