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We develop a N-sector business cycle network model a la Long and Plosser (1983), featuring heterogenous money demand a la Bewley (1980) and Lucas (1980). Despite incomplete markets and a well-defined distribution of real money balances across heterogeneous households, the enriched N-sector...
Persistent link: https://www.econbiz.de/10011911508
; Innovation ; Pharmaceuticals ; Health care expenditure ; Cointegration …
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Johansen cointegration technique which is appropriate for empirical testing based on time series. The empirical results suggest …
Persistent link: https://www.econbiz.de/10011852881
This paper provides new evidence on the effect of debt on economic growth through two alternative methodological approaches. On the one hand, by using a panel error correction model with a sample of 130 countries between 1980 and 2020, we found evidence of the existence of a range of debt-to-GDP...
Persistent link: https://www.econbiz.de/10014461312
Persistent link: https://www.econbiz.de/10000959730
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In this paper, decisions regarding production in oil exporting countries are studied by means of theoretical analysis and empirical investigation. Under the assumptions of exogenous oil prices and world oil demand, we are able to describe the relationship between oil production levels and...
Persistent link: https://www.econbiz.de/10009231652
deviations in the social component (and vice versa). As to the supply of insurance, cointegration analysis indicates the absence …
Persistent link: https://www.econbiz.de/10003354444
The purpose of this paper is twofold. First, we evaluate the responses to the questions on inflation expectations in the World Economic Survey for sixteen inflation targeting countries. Second, we compare inflation expectation forecasts across countries by using a two-step approach that selects...
Persistent link: https://www.econbiz.de/10011913189
-terminant of EKC's. The results of a cointegration analysis show that amongst other determi-nants the decline of environmental …
Persistent link: https://www.econbiz.de/10011598222