Showing 1 - 10 of 45
This paper provides a summary of the OECD's new global macroeconometric model, including an overview of model structure and a selection of simulations illustrating its main properties. Compared with its predecessors, the new model is more compact and regionally aggregated, but gives more weight...
Persistent link: https://www.econbiz.de/10010577076
A common explanation for the inability of the monetary model to beat the random walk in forecasting future exchange rates is that conventional time series tests may have low power, and that panel data should generate more powerful tests. This paper provides an extensive evaluation of this power...
Persistent link: https://www.econbiz.de/10005789565
Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag (ADL) model is chosen. The results show that a...
Persistent link: https://www.econbiz.de/10005103392
The Kangoye (2013, TDE) findings on the negative nexus between foreign aid unpredictability and governance could seriously affect debates in academic and policy making circles. Using the theoretical underpinnings of the celebrated Eubank (2012, JDS) literature, we first confirm Kangoye’s...
Persistent link: https://www.econbiz.de/10011111464
Macro Models are a series of free Apps available in App Store, and they work with Ipads. Each App simulates a specific macroeconomic model and presents both the static and the dynamic results. The first five Apps developed and published are: the Income-Expenditure model in three versions (I, II...
Persistent link: https://www.econbiz.de/10011260545
The purpose of this study is to forecast the short-term inflation rate of Bangladesh using the monthly Consumer Price Index (CPI) from January 2000 to December 2012. To do so, the study employed the Seasonal Auto-regressive Integrated Moving Average (SARIMA) models proposed by Box, Jenkins, and...
Persistent link: https://www.econbiz.de/10011113416
This paper investigates the extent of pass-through from the nominal exchange rate to import prices for a sample of nineteen African countries. The methodology is based on panel data cointegration testing. Using annual data extending back to 1971, long-run pass-through can be best described as a...
Persistent link: https://www.econbiz.de/10009351262
We explore bifurcation phenomena in the open-economy New Keynesian CGG Model based on Clarida et al. (2001, 2002). We find that the open economy framework can bring about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters...
Persistent link: https://www.econbiz.de/10010636282
This paper presents empirical evidence from a cross-section sample of thirty six Sub-Saharan African countries and time-series sample of selected seven. The evidence suggests that countries in the region that open generally tend to grow faster than those that are closed. However, the...
Persistent link: https://www.econbiz.de/10008869269
This article assesses the transmission of international shocks to EUA spot, EUA futures, and CER futures carbon prices using a broad dataset that includes 115 macroeconomic, financial and commodities indicators with daily frequency from April 4, 2008 to January 25, 2010 totalling 463...
Persistent link: https://www.econbiz.de/10011048801