Showing 1 - 10 of 25
Persistent link: https://www.econbiz.de/10003847004
We propose an extended time-varying parameter Vector Autoregression that allows for an evolving relationship between the variances of the shocks. Using this model, we show that the relationship between the conditional variance of GDP growth and the long-term interest rate has become weaker over...
Persistent link: https://www.econbiz.de/10011554403
Persistent link: https://www.econbiz.de/10012607093
Persistent link: https://www.econbiz.de/10011903387
Persistent link: https://www.econbiz.de/10012121850
Persistent link: https://www.econbiz.de/10014234174
Persistent link: https://www.econbiz.de/10014335747
This paper examines the impact of capital market integration (CMI) on higher education and economic growth. We take into account that participation in higher education is non-compulsory and depends on individual choice. Integration increases (decreases) the incentives to participate in higher...
Persistent link: https://www.econbiz.de/10010267663
Persistent link: https://www.econbiz.de/10003586336
We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and Epstein-Zin preferences to study the volatility implications of a monetary policy shock. An unexpected increases in the policy rate by 150 basis points causes output and inflation...
Persistent link: https://www.econbiz.de/10011389786