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This article presents a general equilibrium model capable of assessing the impact of foreign price shocks on the real side of the oil-based developing economies. The theoretical model departs from previous work in this area at least in that (1) the model takes into account endogenous income and...
Persistent link: https://www.econbiz.de/10010616628
A systems approach is applied to UK personal sector holdings of unit trusts, UK company securities, public-sector long-term debt and overseas securities. In the long run, asset holdings are determined primarily by hedging considerations but in the short run there is evidence of speculative...
Persistent link: https://www.econbiz.de/10008459574
This article presents a general equilibrium model capable of assessing the impact of foreign price shocks on the real side of the oil‐based developing economies. The theoretical model departs from previous work in this area at least in that (1) the model takes into account endogenous income...
Persistent link: https://www.econbiz.de/10014863847
A systems approach is applied to UK personal sector holdings of unit trusts, UK company securities, public‐sector long‐term debt and overseas securities. In the long run, asset holdings are determined primarily by hedging considerations but in the short run there is evidence of speculative...
Persistent link: https://www.econbiz.de/10014863853
Examines the effects of a monetary expansion on certain key macroeconomic variables, in particular the nominal exchange rate, competitiveness, and domestic output and employment, using a modified version of the Dornbusch (Journal of Political Economy, 1976) model. Dornbusch's original analysis...
Persistent link: https://www.econbiz.de/10008481964
Examines the causality issue, in a Granger-temporal causal sense, between price level and productivity in a bivariate and multivariate context in Greece over the period 1962-1997. The empirical analysis employs various time-series techniques such as unit-root testing, bivariate and multivariate...
Persistent link: https://www.econbiz.de/10004976581
exchange rate models and switches from one model to another probabilistically, depending on supply shocks or government policy … models can then be estimated simultaneously. Uses the estimated parameters of the model to forecast foreign exchange rate …, and then four foreign exchange rate models are used to estimate the NMM. The out-of-sample forecasting results obtained …
Persistent link: https://www.econbiz.de/10005003232
Sets out a version of a standard conjectural-variations oligopoly model, and investigates the properties of that model with respect to the effects of entry. Shows within this context that entry unambiguously reduces incumbents' margins and output, while raising industry output. Also shows that...
Persistent link: https://www.econbiz.de/10005003245
The standard measures of effective protection calculate EPRs by reference to an activity's principal product. In many activities by-products which have a positive economic value are important. Revises the standard measures to allow for the incorporation of by-products and uses an example to...
Persistent link: https://www.econbiz.de/10005003251
The objective of this study is to propose an economic model of the nominal money balances and reserves in the Turkish economy during the period 1960-1988. As most of the variables show unit root non-stationarity, an approach based on the error correction system (Phillips, 1991) is adopted. The...
Persistent link: https://www.econbiz.de/10005003274