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dynamic panel data models. In particular, in our model the long-run relationship between effective exchange rates and domestic …
Persistent link: https://www.econbiz.de/10010414236
instability of euro area money demand. Our results obtained from panel estimation indicate that the observed instability of … money demand but constant across member countries. -- Money demand ; cross-country analysis ; panel error correction model …
Persistent link: https://www.econbiz.de/10008664568
Persistent link: https://www.econbiz.de/10012207562
We examine the effects of increased international integration of both goods and financial markets on business cycle dynamics. To do so, we develop a new econometric framework for modelling cross-country spillovers in which the magnitude of these spillovers is an empirically determined function...
Persistent link: https://www.econbiz.de/10010414228
We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth …. The empirical analysis is based on a large panel-data set including 124 countries during the period from 1950 to 2004. For … developing countries. -- Inflation Thresholds ; Inflation and Growth ; Dynamic Panel Threshold Model …
Persistent link: https://www.econbiz.de/10003876000
We study the economic implications of regional favoritism, a form of distributive politics that redistributes resources spatially within countries. We use a large sample of enterprise surveys spanning across many low and middle income countries, and utilize transitions of national political...
Persistent link: https://www.econbiz.de/10012492850
Persistent link: https://www.econbiz.de/10011529604
Persistent link: https://www.econbiz.de/10011529607
In this paper, we discuss the consequences of imperfect information about financial frictions on the macroeconomy. We rely on a New Keynesian DSGE model with a banking sector in which we introduce imperfect information about a limited enforcement problem. Bank managers divert resources and can...
Persistent link: https://www.econbiz.de/10010517143
This paper shows how the average maturity of corporate bonds can affect the transmission of shocks if financial frictions prevail. We modify a standard financial accelerator model à la Bernanke, Gertler, and Gilchrist (1999) and allow for market-based debt which has a market-determined price....
Persistent link: https://www.econbiz.de/10010357605