Showing 1 - 10 of 1,729
This paper investigates how the University of Michigan's Index of Consumer Sentiment (ICS) - a survey measure of U.S. households' expectations about current and future economic conditions - responds to structural oil supply and demand shocks. We find that the response to an observed increase in...
Persistent link: https://www.econbiz.de/10011663281
We investigate how oil supply shocks are transmitted to U.S. economic activity, consumer prices, and interest rates. Using a structural VAR approach with a combination of sign and zero restrictions, we distinguish between supply and demand channels in the transmission of exogenous changes in...
Persistent link: https://www.econbiz.de/10012140936
Interest rates in several countries have recently been decreased to exceptionally low levels and a Quantitative Easing Monetary Policy (QEMP) has been adopted by most major central banks. In this context this paper is very actual, as it sheds some light on the effectiveness of the Japanese use...
Persistent link: https://www.econbiz.de/10008869271
Many empirical studies of the economics of crime focus solely on the determinants thereof, and do not consider the dynamic and cross-sectional properties of their data. As a response to this, the current paper offers an in-depth analysis of this issue using data covering 21 Swedish counties from...
Persistent link: https://www.econbiz.de/10013208550
This paper investigates private net saving in the US economy - divided into its principal components, households and (nonfinancial) corporate financial balances - and its impact on the GDP cycle from the 1980s to the present. Furthermore, we investigate whether the financial markets (stock...
Persistent link: https://www.econbiz.de/10010281740
Fiscal policy is particularly relevant in dollarized economies. For the case of Ecuador, we analyze the effects of taxes and public spending on the overall performance of the economy for the period 1993-2009. To do this, we use a structural autoregressive vector model (SVAR) incorporating the...
Persistent link: https://www.econbiz.de/10009368137
This paper observes the Turkish household’ consumption data to see whether it follows random walk or not. The quarterly data covers the period from 1987:1 to 2003:4. By employing the direct tests for random walk, excess smoothness or excess sensitivity, this study results in both excess...
Persistent link: https://www.econbiz.de/10008560486
This study revisits the Feldstein-Horioka puzzle by investigating the saving-investment nexus through the unit root test, cointegration procedure, unrestricted VAR causality, and dynamic OLS (DOLS). Ten Asia Pacific nations of different level of economic development and financial openness were...
Persistent link: https://www.econbiz.de/10005836186
This paper shows the dynamic relationships which the components of Gross Domestic Product (GDP) with direct and indirect taxes. We use a structural vector autoregressive model (SVAR) to examine the effect (temporary or permanent) of taxes on domestic production in Ecuador. The calibration of...
Persistent link: https://www.econbiz.de/10009151552
Purpose – Considering the sectoral balance approach of Godley, and focusing only on the two main components of the private sector balance for the U.S. economy (household and non-financial corporate balance), we investigate the relationship between these two sectors, the financial variables,...
Persistent link: https://www.econbiz.de/10008788803