Showing 1 - 10 of 1,932
This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...
Persistent link: https://www.econbiz.de/10014400163
results indicate that the forecast model incorporating internet search data provides additional information about tourist …
Persistent link: https://www.econbiz.de/10012170113
This paper is an empirical study of the links between monetary variables and inflation based on Cagan’s equation and … differenced model overcomes Evans’ critique of this test and that chronic inflation is essentially a monetary phenomenon caused by …
Persistent link: https://www.econbiz.de/10014398740
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear...
Persistent link: https://www.econbiz.de/10014400558
This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set of fundamentals for a sample of 48 industrial countries and emerging markets. It...
Persistent link: https://www.econbiz.de/10014401826
Financial crises pose unique challenges for forecast accuracy. Using the IMF's Monitoring of Fund Arrangement (MONA … informational value as they consistently outperform naive forecast approaches. However, we also document that there is room for … improvement: two thirds of the key macroeconomic variables that we examine are forecast inefficiently and 6 variables (growth of …
Persistent link: https://www.econbiz.de/10011932572
This paper identifies leading indicators of fiscal crises based on a large sample of countries at different stages of development over 1970-2015. Our results are robust to different methodologies and sample periods. Previous literature on early warning sistems (EWS) for fiscal crises is scarce...
Persistent link: https://www.econbiz.de/10011905898
This paper assesses the performance of three types of commodity price forecasts—those based on judgment, those relying exclusively on historical price data, and those incorporating prices implied by commodity futures. For most of the 15 commodities in the sample, spot and futures prices appear...
Persistent link: https://www.econbiz.de/10014404097
Currency crises are difficult to predict. It could be that we are choosing the wrong variables or using the wrong models or adopting measurement techniques not up to the task. We set up a Monte Carlo experiment designed to evaluate the measurement techniques. In our study, the methods are given...
Persistent link: https://www.econbiz.de/10014397444
drivers of the predictions include high levels of unrest, food price inflation and mobile phone penetration, which accord with …
Persistent link: https://www.econbiz.de/10012796240