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The Nexus between Disaggregated Public Spending and GDP in the Euro Area

Magazzino, Cosimo - In: Economics Bulletin 32 (2012) 3, pp. 2560-2579

community amenities, and for recreation, culture and religion. Moreover, Granger causality tests results show clear evidence …

Persistent link: https://www.econbiz.de/10011278750

A wavelet analysis of oil price volatility dynamic

Benhmad, François - In: Economics Bulletin 31 (2011) 1, pp. 792-806

time scales. As traditional Granger causality test, designed to detect linear causality, is ineffective in uncovering … certain nonlinear causal relationships, we use the nonlinear causality test introduced by Péguin-Feissolle and Teräsvirta …

Persistent link: https://www.econbiz.de/10008861883

Is there a stochastic convergence process in the West African economic and monetary union in presence of multiple structural breaks from 1960 to 2010?

Bah, Mohamed Siry - In: Economics Bulletin 34 (2014) 3, pp. 1917-1928

Our study analyses stochastic convergence of relative real GDP per capita in the West African Economic and Monetary Union (WAEMU) in the period 1960 to 2010. It highlights the importance of considering structural breaks and cross-section dependence in the panel unit root tests. Using the panel...

Persistent link: https://www.econbiz.de/10010890863

Testing the null of cointegration with a structural break: optimal kernel and bandwidth selection

Ludwig, Alexander - In: Economics Bulletin 33 (2013) 4, pp. 2828-2839

Structural breaks in relationships between macroeconomic and financial time series are likely a result of financial crises or local reforms. If such structural breaks exist, cointegration tests have to take them into account. Arai and Kurozumi (2007), Carrion-i-Silvestre and Sanso (2006) and...

Persistent link: https://www.econbiz.de/10010835987

Comparing the small sample properties of two break Lagrange Multiplier unit root tests

Narayan, Paresh Kumar; Popp, Stephan - In: Economics Bulletin 32 (2012) 2, pp. 1082-1090

In this note, we examine the size and power properties and the break date estimation accuracy of the Lee and Strazicich (LS, 2003) two break endogenous unit root test, based on two different break date selection methods: minimising the test statistic and minimising the sum of squared residuals...

Persistent link: https://www.econbiz.de/10011278653

Financial development and economic growth: the case of ECOWAS and WAEMU

Afawubo, Komivi; Fromentin, Vincent - In: Economics Bulletin 33 (2013) 3, pp. 1715-1722

This paper examines the interaction between financial development and economic growth of the Economic Community Of West African States (ECOWAS) and West African Economic and Monetary Union (WAEMU) using non-stationary panel data methodology and a panel cointegration approach. We estimate a...

Persistent link: https://www.econbiz.de/10010835793

Export and economic growth in Southeast Asia current Newly Industrialized Countries: Evidence from nonparametric approach

Lim, Shiok Ye; Ghazali, Mohd Fahmi; Ho, Chong Mun - In: Economics Bulletin 31 (2011) 3, pp. 2683-2693

Indonesia. With evidences of nonlinearities from cointegration test, nonparametric causality test based on rank series provides … more reliable results than conventional linear model. The nonparametric causality test indicates a bilateral causality …

Persistent link: https://www.econbiz.de/10009322476

The tax-spend nexus in Nigeria: Evidence from Nonlinear Causality

Aworinde, Olalekan Bashir - In: Economics Bulletin 33 (2013) 4, pp. 3117-3130

1961-1992, 1993-2012 and1961-2012. Employing a nonparametric causality test of Diks and Panchenko (2006) as well as the … parametric causality test using the VAR model, results show that there is evidence of uni-directional linear causality from … government revenue to government expenditure in the first period and uni-directional nonlinear causality from government revenue …

Persistent link: https://www.econbiz.de/10010727913

Long-run effects of capital market integration using OLG model

Darreau, Philippe; Pigalle, François - In: Economics Bulletin 34 (2014) 3, pp. 1835-1845

Buiter (1981) illustrates that in the OLG model, the ranking of stationary utility levels under autarky and openness, is ambiguous. We show that both countries increase their stationary utility levels only if the autarky capital-labor ratios are on opposite sides of the golden rule.

Persistent link: https://www.econbiz.de/10010889802

How much can European governments squeeze out of their taxpayers?

Courtault, Jean-Michel; Magnani, Riccardo - In: Economics Bulletin 34 (2014) 3, pp. 1945-1960

In this paper we use the concept of distributable surplus, introduced by Allais (1943) and Luenberger (1992), to evaluate the capacity of European countries to repay their debts. We first show that the surplus generated between 2005 and 2009 was not sufficient to cover the 2009 deficit for...

Persistent link: https://www.econbiz.de/10010891619