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Testing for Cointegration Using the Johansen Methodology When Variables are Near-Integrated
Hjalmarsson, Erik - 2008
We investigate the properties of Johansen's (1988, 1991) maximum eigenvalue and trace tests for cointegration under the …
Persistent link: https://www.econbiz.de/10012773436
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Machine Learning and Causality : The Impact of Financial Crises on Growth
Tiffin, Andrew - 2019
Machine learning tools are well known for their success in prediction. But prediction is not causation, and causal discovery is at the core of most questions concerning economic policy. Recently, however, the literature has focused more on issues of causality. This paper gently introduces some...
Persistent link: https://www.econbiz.de/10012858391
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The Global Trade Slowdown : Cyclical or Structural?
Constantinescu, Cristina - 2015
This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and...
Persistent link: https://www.econbiz.de/10013027665
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Social Spending in Korea : Can it Foster Sustainable and Inclusive Growth?
Elekdag, Selim Ali - 2012
Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly aging population and ameliorating income inequality. This paper argues that a gradual increase in social spending could promote more sustainable and inclusive growth in Korea....
Persistent link: https://www.econbiz.de/10013098277
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Public Investment as an Engine of Growth
Warner, Andrew - 2014
investment spending and growth and only in the same year, as lagged impacts are not significant. Furthermore, there is little … Ethiopia in recent years, as high public investment has coincided with high GDP growth, but it is probably too early to draw … investment drives tend eventually to be financed by borrowing and have been plagued by poor analytics at the time investment …
Persistent link: https://www.econbiz.de/10013047972
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A New Strategy for Korea's Fiscal Policy in a Low Growth Environment
Zoli, Edda - 2018
Adverse demographics and other structural weaknesses impinge on Korea's long-term fiscal outlook and potential growth. Moreover, inadequate social protection is creating poverty and dampening consumption. The paper presents projections of Korea's fiscal outlook, using new estimates of potential...
Persistent link: https://www.econbiz.de/10012918473
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Korea's Paradigm Shift for Sustainable and Inclusive Growth : A Proposal
Byeon, Yangkyoon - 2018
Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model-which served Korea well in the past-has...
Persistent link: https://www.econbiz.de/10012924258
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Korea's Growth Prospects : Overcoming Demographics and COVID-19
Swiston, Andrew J. - 2022
rigidities interact with shifts in demand and supply patterns, lowering investment and labor force participation. At the same …
Persistent link: https://www.econbiz.de/10013302780
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It's Not What You Make, It's How You Use it : Measuring the Welfare Benefits of the it Revolution Across Countries
Bayoumi, Tamim; Haacker, Markus - 2021
This paper analyzes the welfare benefits from falling relative prices of IT (information technology) goods across a wide range of countries. We find, using two separate methodologies and datasets, that welfare benefits mainly accrue to users of IT, not their producers, because of falling...
Persistent link: https://www.econbiz.de/10013317887
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Investment-Led Growth in China : Global Spillovers
Ahuja, Ashvin - 2012
Over the past decade, China's growth model has become more reliant on investment and its footprint in global imports … has widened substantially. Several economies within China's supply chain are increasingly exposed to its investment …-led growth and face growing risks from a deceleration in investment in China. This note quantifies potential global spillovers …
Persistent link: https://www.econbiz.de/10013096278