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Openness and growth in Sub-Saharan Africa: Time series and cross-country analysis

Sanusi, Aliyu Rafindadi - Volkswirtschaftliche Fakultät, … - 2008

growth as it “opens up” is contingent upon its own peculiarities …

Persistent link: https://www.econbiz.de/10008869269

The equity premium in a small open economy, and an application to Israel

Borenstein, Eliezer; Elkayam, David - Volkswirtschaftliche Fakultät, … - 2013

In this paper we attempt to reproduce both the business cycle facts and the equity premium of the Israeli economy—an economy which is "typical" in the sense that investment is much more volatile than output (and consumption). We show that GHH preferences, which are quite common in RBC models...

Persistent link: https://www.econbiz.de/10011258537

Inequality, poverty and quality of institutions: which freedom channels of globalization matter for Africa?

Asongu, Simplice A - Volkswirtschaftliche Fakultät, … - 2013

Are formal institutions instrumental in the effect globalization mechanisms have on the human face? If so, through which freedoms channels are poverty and inequality mitigated? With the instrumentality of formal institutions: (1) de jure financial liberalization (KAOPEN) has a positive...

Persistent link: https://www.econbiz.de/10011109659

Fresh Patterns of Liberalization, Bank Return and Return Uncertainty in Africa

Asongu, Simplice - Volkswirtschaftliche Fakultät, … - 2014

This chapter complements exiting African liberalization literature by providing fresh patterns of two main areas. First, it assesses whether African banking institutions have benefited from liberalization policies in terms of bank returns. Second, it models bank return and return uncertainty in...

Persistent link: https://www.econbiz.de/10011113931

A small open economy New Keynesian model for a foreign exchange constrained economy

Senbeta, Sisay - Volkswirtschaftliche Fakultät, … - 2011

Firms in many low income countries depend entirely on imported capital and intermediate inputs. As a result, in these countries economic activity is considerably influenced by the capacity of the economy to import these inputs which, in turn, depends on the availability and cost of foreign...

Persistent link: https://www.econbiz.de/10008924815

How applicable are the new keynesian DSGE models to a typical low-income economy?

Senbeta, Sisay - Volkswirtschaftliche Fakultät, … - 2011

Saharan Africa. To this effect, we first review the development, criticisms and recent advances in DSGE modeling. Then we …

Persistent link: https://www.econbiz.de/10009021960

Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction

Liu, Xuan - Volkswirtschaftliche Fakultät, … - 2007

This paper studies the long-run welfare effect of the extra volatility of country spread due to the possibility of sudden stops. Both analytical and numerical results show that sudden stops have weaker output impact when the small open economy is more open to trade. However, welfare consequences...

Persistent link: https://www.econbiz.de/10008533573

Equity Returns and Business Cycles in Small Open Economies

Jahan-Parvar, Mohammad R.; Liu, Xuan; Rothman, Philip - Volkswirtschaftliche Fakultät, … - 2009

This is the first paper in the literature to match key business cycle moments and long-run equity returns in a small open economy with production. These results are achieved by introducing three modications to a standard real business cycle model: (1) borrowing and lending costs are imposed to...

Persistent link: https://www.econbiz.de/10005031391

Home Production and Small Open Economy Business Cycles

Chen, Kuan-Jen; Chu, Angus C.; Lai, Ching-Chong - Volkswirtschaftliche Fakultät, … - 2014

This paper incorporates home production into a real business cycle (RBC) model of a small open economy to provide a parsimonious explanation of the empirical pattern of international business cycles in developed economies and emerging markets. It is well known in the literature that in order for...

Persistent link: https://www.econbiz.de/10011108071

Capital mobility and macroeconomic volatility: evidence from Greece

Anastasios, Pappas - Volkswirtschaftliche Fakultät, … - 2010

is investigated by applying a simple three-month rolling standard deviation of real GDP growth and real final (total …) consumption growth combined with more formal econometric methods such as Granger causality test and multivariate regressions …, seem to be related to macroeconomic growth volatility in the Greek economy. …

Persistent link: https://www.econbiz.de/10009372530

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