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This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy, disaggregated into its fifteen largest national economies. This structural macroeconometric model features extensive linkages between the real and financial sectors, both within...
Persistent link: https://www.econbiz.de/10012677496
forecast data from the SPF, CBO, Federal Reserve, and asset prices. Unanticipated fiscal stimulus and interest rate shocks we …
Persistent link: https://www.econbiz.de/10015059043
method can reproduce the smoothness of professional forecasts subject to various constraints and slightly improve forecast …
Persistent link: https://www.econbiz.de/10015058568
Assessing the current state of the economy and forecast the economic outlook in the next few quarters are important … inputs for policymakers. This paper presents a suite of models with an integrated approach to forecast Cambodia’s economy in …-frequency indicators to construct quarterly nowcasting model. Second, we forecast current economic activities using a high-frequency data …
Persistent link: https://www.econbiz.de/10015080247
In traditional bond markets, sovereign bonds provide benchmarks and serve as catalysts for the corporate bond market … development. Contrary to the usual sequence of bond market development, sovereign issuers are latecomers to sustainable bond … markets. Yet, our empirical study finds that sovereign green bond issuance can have quantitative and qualitative benefits for …
Persistent link: https://www.econbiz.de/10015080326
We analyze the corporate green bond market under a rational framework without an innate green preference, using a …, false or exaggerated claims of being green. The extent of greenwashing in the market is a function of the green bond premium …. A swift and gradual implementation of carbon pricing generates a small green bond premium and a low level of …
Persistent link: https://www.econbiz.de/10015059920
to provide issuers and other stakeholders with a comprehensive view of the ESG bond marketplace …
Persistent link: https://www.econbiz.de/10015059620
We propose a new approach to test the full-information rational expectations hypothesis which can identify whether rejections of the null arise from information rigidities. This approach quantifies the economic significance of departures from the null and the underlying degree of information...
Persistent link: https://www.econbiz.de/10009679674
FORECASTS -- IV. EMPIRICAL RESULTS -- V. ANALYSIS OF STATISTICAL SIGNIFICANCE -- VI. CAN THE WEO FORECAST ERRORS BE PREDICTED … -- X. LONG-RUN FORECASTING PERFORMANCE FOR G-7 ECONOMIES -- XI. COMPARISON OF WEO AND CONSENSUS FORECASTS -- XII. FORECAST …
Persistent link: https://www.econbiz.de/10012691044
. Using the International Monetary Fund (IMF)'s global growth forecast as a working example, the paper goes through the …
Persistent link: https://www.econbiz.de/10012677838