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Saving-Investment Correlations : Immobile Capital. Government Policy or Endogenous Behavior?
International Monetary Fund - 1989
This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over time. It is concluded that the main reason for the observed high correlations over the recent period is probably government policy
Persistent link: https://www.econbiz.de/10014396226
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Moreon the Effectiveness of Public Spendingon Health Care and Education : A Covariance Structure Model
International Monetary Fund - 2002
Using data for a sample of developing and transition countries, this paper estimates the relationship between government spending on health care and education, and social indicators. Unlike previous studies, where social indicators are used as proxies for the unobservable health and education...
Persistent link: https://www.econbiz.de/10014399239
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Stochastic Volatilities and Correlations, Extreme Values and Modeling the Macroeconomic Environment, Under Which Brazilian Banks Operate
Souto, Marcos - 2007
Using monthly data for a set of variables, we examine the out-of-sample performance of various variance/covariance models and find that no model has consistently outperformed the others. We also show that it is possible to increase the probability mass toward the tails and to match reasonably...
Persistent link: https://www.econbiz.de/10014399716
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Model-based globally-consistent risk assessment
Andrle, Michal; Hunt, Benjamin F. - 2020
This paper outlines an approach to assess uncertainty around a forecast baseline as well as the impact of alternative policy rules on macro variability. The approach allows for non-Gaussian shock distributions and non-linear underlying macroeconomic models. Consequently, the resulting...
Persistent link: https://www.econbiz.de/10012251371
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Exchange rate elasticities of international tourism and the role of dominant currency pricing
Ding, Ding; Timmer, Yannick - 2022
We estimate a variety of exchange rate elasticities of international tourism. We show that, in addition to the … bilateral exchange rate between the tourism origin and destination countries, the exchange rate vis-a-vis the US dollar is also … an important driver of tourism flows and pricing. The effect of US dollar pricing is stronger for tourism destination …
Persistent link: https://www.econbiz.de/10013170287
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Pricing Debit Card Payment Services : An IO Approach
Tieman, Alexander F. - 2003
per transaction. This theoretic result resembles the current practice in the Netherlands where consumers pay no …
Persistent link: https://www.econbiz.de/10014403871
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Fat tails and their (un)happy endings : correlation bias and its implications for systemic risk and prudential regulation
Chan-Lau, Jorge A. - 2011
Persistent link: https://www.econbiz.de/10009486263
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A Noteon Saving-Investment Correlations in the EMS
International Monetary Fund - 1990
This paper extends recent work by Feldstein and Horioka (1980) and Bayoumi (1990), and examines saving-investment correlations for industrial countries in the post-war period. The focus of the enquiry is on differences observed between EMS and non-EMS countries. It is seen that the EMS countries...
Persistent link: https://www.econbiz.de/10014396141
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Desynchronized : The Comovement of Non-Hydrocarbon Business Cycles in the GCC
Cevik, Serhan - 2011
This paper investigates the empirical characteristics of business cycles and the extent of cyclical comovement in the Gulf Cooperation Council (GCC) countries, using various measures of synchronization for non-hydrocarbon GDP and constituents of aggregate demand during the period 1990-2010. By...
Persistent link: https://www.econbiz.de/10014397084
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Systemic Risk and Financial Consolidation : Are they Related?
De Nicoló, Gianni - 2002
We argue that firm interdependencies, as measured by correlations of stock returns, provide an indicator of systemic risk potential. We find a positive trend in stock return correlations net of diversification effects for a sample of U.S. Large and Complex Banking Organizations over 1988-99....
Persistent link: https://www.econbiz.de/10014399710