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The Rise of China and India : Blessing or Curse for the Advanced Countries?
Stracca, Livio - 2013
This paper evaluates the impact of the rise of large emerging manufacturing exporters such as China and India on … based on 3-year average data augmented with country-specific measures of import and export competition from China and India … using instrumental variables. Stronger import competition from China and India leads to stronger income growth in advanced …
Persistent link: https://www.econbiz.de/10013072202
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Optimal Currency Shares in International Reserves : The Impact of the Euro and the Prospects for the Dollar
Papaioannou, Elias; Portes, Richard; Siourounis, Gregorios - 2021
market countries (Brazil, Russia, India and China), adding constraints that reflect a central bank's desire to hold a sizable …
Persistent link: https://www.econbiz.de/10013317364
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What Lies Beneath? A Time-Varying FAVAR Model for the UK Transmission Mechanism
Mumtaz, Haroon - 2011
This paper uses a time-varying Factor Augmented VAR to investigate the evolving transmission of monetary policy and demand shocks in the UK. Simultaneous estimation of time-varying impulse responses of a large set of macroeconomic variables and disaggregated prices suggest that the response of...
Persistent link: https://www.econbiz.de/10013128262
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Fiscal Developments and Financial Stress : A Threshold VAR Analysis
Afonso, António - 2011
We use a threshold VAR analysis to study whether the effects of fiscal policy on economic activity differ depending on financial market conditions. In particular, we investigate the possibility of a non-linear propagation of fiscal developments according to different financial market stress...
Persistent link: https://www.econbiz.de/10013128285
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Subprime Consumer Credit Demand : Evidence From a Lender's Pricing Experiment
Alan, Sule - 2011
We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. What is novel about our contribution is that we were given details of a randomized interest rate experiment conducted by the lender between October 2006 and...
Persistent link: https://www.econbiz.de/10013130142
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Behavioural Characteristics and Financial Distress
McCarthy, Yvonne - 2011
Using a new nationally representative survey of financial capability and experience in the UK and Ireland, I investigate the key factors that cause individuals to experience financial distress. In this context, a key area that I focus on is whether individuals' behavioural traits, such as their...
Persistent link: https://www.econbiz.de/10013130145
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Inflation Risk Premia in the US and the Euro Area
Hördahl, Peter - 2010
We use a joint model of macroeconomic and term structure dynamics to estimate inflation risk premia in the United States and the euro area. To sharpen our estimation, we include in the information set macro data and survey data on inflation and interest rate expectations at various future...
Persistent link: https://www.econbiz.de/10013135685
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A VAR Analysis for the Uncovered Interest Parity and the Ex-Ante Purchasing Power Parity : The Role of Macroeconomic and Financial Information
Macchiarelli, Corrado - 2011
This study revisits the relation between the uncovered interest parity (UIP), the ex ante purchasing power parity (EXPPP) and the real interest parity (RIP) using a VAR approach for the US dollar, the British sterling and the Japanese yen interest rates, exchange rates and changes in prices. The...
Persistent link: https://www.econbiz.de/10013118030
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An International Comparison of Voting by Committees
Jung, Alexander - 2011
This paper provides new empirical evidence on policy-makers' voting patterns on interest rates. Applying (pooled) Taylor-type rules and using real-time information available from published inflation reports and voting records, the paper tests for heterogeneity among committee members in three...
Persistent link: https://www.econbiz.de/10013120227
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Forecasting Inflation with Gradual Regime Shifts and Exogenous Information
Hubrich, Kirstin - 2011
We propose a new method for medium-term forecasting using exogenous information. We first show how a shifting-mean autoregressive model can be used to describe characteristic features in inflation series. This implies that we decompose the inflation process into a slowly moving nonstationary...
Persistent link: https://www.econbiz.de/10013122536