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An empirical growth model for major oil exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the Dutch disease and the resource curse, which primarily focuses on...
Persistent link: https://www.econbiz.de/10010282525
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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focuses on...
Persistent link: https://www.econbiz.de/10010550529
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China's emergence in the world economy and business cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2011
world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …
Persistent link: https://www.econbiz.de/10010278334
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Exponent of Cross-sectional Dependence: Estimation and Inference
Bailey, Natalia; Kapetanios, George; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2012
An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...
Persistent link: https://www.econbiz.de/10009646324
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On Econometric Analysis of Structural Systems with Permanent and Transitory Shocks and Exogenous Variables
Pagan, Adrian; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2007
This paper considers the implications of the permanent/transitory decomposition of shocks for identification of structural models in the general case where the model might contain more than one permanent structural shock. It provides a simple and intuitive generalization of the influential work...
Persistent link: https://www.econbiz.de/10005822651
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Assessing Forecast Uncertainties in a VECX Model for Switzerland: An Exercise in Forecast Combination across Models and Observation Windows
Assenmacher, Katrin; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2007
averaging over forecasts from different models. Second, we look at different estimation windows. We find that averaging over … estimation windows is at least as effective as averaging over different models and both complement each other. Third, we explore …
Persistent link: https://www.econbiz.de/10005700993
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A Pair-Wise Approach to Testing for Output and Growth Convergence
Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2004
to output series in the Penn World Tables over 1950-2000, as well as to Maddion’s historical series over 1870 …
Persistent link: https://www.econbiz.de/10005566528
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Counterfactual analysis in macroeconometrics: An empirical investigation into the effects of quantitative easing
Pesaran, M. Hashem; Smith, Ron P. - 2012
This paper is concerned with ex ante and ex post counterfactual analyses in the case of macroeconometric applications where a single unit is observed before and after a given policy intervention. It distinguishes between cases where the policy change affects the model's parameters and where it...
Persistent link: https://www.econbiz.de/10010287633