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Identification of New Keynesian Phillips Curves from a global perspective
Dées, Stephane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2008
number of issues of concern about how they are estimated and then related to the underlying macroeconomic theory. The first …
Persistent link: https://www.econbiz.de/10003652695
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Phillips curves and unemployment dynamics : a critique and a holistic perspective
Karanassou, Marika (contributor); Sala, Hector (contributor) - 2006
"The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can be analysed by separate branches of economics. The macro literature tries to explain inflation dynamics and estimates the NAIRU. The labour macro literature tries to explain...
Persistent link: https://www.econbiz.de/10003359297
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Infinite dimensional VARs and factor models
Chudik, Alexander (contributor);  … - 2007
This paper introduces a novel approach for dealing with the 'curse of dimensionality' in the case of large linear dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the number of endogenous variables tends to infinity. It is...
Persistent link: https://www.econbiz.de/10003646695
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International migration with heterogeneous agents : theory and evidence
Brücker, Herbert (contributor);  … - 2006
investigation of the cointegration relationships of German migration stocks and flows since 1967. We find that (i) panel-unit root … migration stocks and the explanatory variables are all I(1) variables, and (ii) the hypothesis of cointegration cannot be … rejected for the stock model. -- international migration ; temporary migration ; panel cointegration …
Persistent link: https://www.econbiz.de/10003376850
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Cross-country connectedness in inflation and unemployment: measurement and macroeconomic consequences
Binh Thai Pham; Sala, Hector - 2021
We bring the notion of connectedness (Diebold and Yilmaz, 2012) to a set of two critical macroeconomic variables as inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro setting – to explore the extent and consequences of...
Persistent link: https://www.econbiz.de/10012491801
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Resolving puzzles of monetary policy transmission in emerging markets
Ha, Jongrim; Kim, Dohan; Kose, M. Ayhan; Prasad, Eswar S. - 2024
Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle). We show that incorporating forward-looking...
Persistent link: https://www.econbiz.de/10015084194
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What matters for environmental quality in the Next-11 countries : economic growth or income inequality?
Padhan, Hemachandra; Haouas, Ilham; Sahoo, Bhagaban; … - 2018
This study uses 1971-2013 panel data to explore the implications of growth, wealth disparities and energy consumption on carbon emissions in a sample of Next-Eleven (N-11) countries. It uses modern econometric techniques to highlight a long-run interplay between selected variables in the carbon...
Persistent link: https://www.econbiz.de/10011816704
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The determinants of crude oil prices : evidence from ARDL and nonlinear ARDL approaches
Ben Salem, Leila; Nouira, Ridha; Jeguirim, Khaled; … - 2022
) approach is used to explore this asymmetry. The use of an asymmetric error correction model with asymmetric cointegration …
Persistent link: https://www.econbiz.de/10013429325
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China's emergence in the world economy and business cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2011
The international business cycle is very important for Latin America's economic performance as the recent global crisis vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission mechanism of...
Persistent link: https://www.econbiz.de/10009311486
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Do business visits cause productivity growth?
Tani, Massimiliano; Joyeux, Roselyne - 2013
The production and diffusion of knowledge have increasingly been seen as potential causes of the observed international differences in total factor productivity and, in turn, as possible sources of economic growth. This paper presents the results of a causality study between business visits and...
Persistent link: https://www.econbiz.de/10010228788