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Business Cycle Synchronisation in EU : A Time-Varying Approach
Degiannakis, Stavros Antonios - 2018
This paper investigates the time-varying correlation between the EU12-wide business cycle and the initial EU12 member-countries based on Scalar-BEKK and multivariate Riskmetrics model frameworks for the period 1980-2012. The paper provides evidence that changes in the business cycle...
Persistent link: https://www.econbiz.de/10012910120
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Measuring Macroeconomic Uncertainty in Zimbabwe
Bonga, Wellington Garikai - 2019
What matters to economic decision-making is whether the economy has become more or less predictable. People and businesses use information around them to form judgements about what might happen in the future. The rise in uncertainty might be associated with increased concern about extreme...
Persistent link: https://www.econbiz.de/10012866688
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The Employment Cycles of Neighboring Cities
Wall, Howard J. - 2011
This paper examines the spatial interaction of neighboring cities over their employment cycles. The cycles of neighboring cities tend to be more similar to one another than are those of non-neighboring cities, although this is due primarily to neighbors' tendency to be in the same state. In...
Persistent link: https://www.econbiz.de/10013126966
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Martingales, Detrending Data, and the Efficient Market Hypothesis
McCauley, Joseph L.; Bassler, Kevin E.; Gunaratne, Gemunu H. - Volkswirtschaftliche Fakultät, … - 2007
look Markovian at the level of both simple averages and 2-point correlations. And while a Markovian market has no memory to … 3-point or higher correlations to beat the market. We generalize our Markov scaling solutions presented earlier, and … serial correlations in Fama’s paper on the EMH. We end with a discussion of Levy’scharacterization of Brownian motion and …
Persistent link: https://www.econbiz.de/10005623407
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The Volatility and Correlations of Stock Returns of Some Crisis-Hit Countries: US, Greece, Thailand and Malaysia: Evidence from MGARCH-DCC applications
Masih, Mansur; Majid, Hamdan Abdul - Volkswirtschaftliche Fakultät, … - 2013
This paper investigates the volatility and correlations of stock returns of some crisis-hit countries such as, US … the Malaysian index with the other country indices. Secondly, given the correlations, how best can a normal investor … that the investors’ behaviour converges and correlations are significantly higher across the two Asian countries in the …
Persistent link: https://www.econbiz.de/10011108726
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Fixed Export Cost heterogeneity, Trade and Welfare
Schröder, Philipp J.H.; Jørgensen, Jan G. - Volkswirtschaftliche Fakultät, … - 2007
Recent literature on the workhorse model of intra-industry trade has explored heterogeneous cost structures at the firm level. These approaches have proven to add realism and predictive power. This paper presents a new and simple heterogeneous-firms specification. We develop a symmetric...
Persistent link: https://www.econbiz.de/10005260181
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Co-movements Of Business Cycles In The Maghreb: Does Trade Matter?
Belhadj, Aam; Eggoh, Jude - Volkswirtschaftliche Fakultät, … - 2010
Over the past two decades, the Maghreb Countries have initiated a liberalization process characterized by increasing trade flows and they have strengthened economic and financial linkages between their economies. In this paper, we demonstrate how co-movements of outputs would respond to this...
Persistent link: https://www.econbiz.de/10009401336
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Intra-industry trade: The Pakistan experience
Shahbaz, Muhammad; Leitão, Nuno Carlos - Volkswirtschaftliche Fakultät, … - 2011
The simultaneous exports and imports of a product within country or a particular industry called intra-industry trade (IIT) or two-way trade. In the recent years, the government of Pakistan had realized factors to liberalize the international trade. The literature of international economics...
Persistent link: https://www.econbiz.de/10008835343
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The Evolution of Ukrainian Economy: New Trade Theory Evidence
Konchyn, Vadym - Volkswirtschaftliche Fakultät, … - 2006
As the experience of European transition countries shows, the opening-up of their economic systems for international competition and FDIs, deepening economic liberalization and integration, and on this basis, the realization of real convergence within the integration block lead to the increased...
Persistent link: https://www.econbiz.de/10005616572
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Estimating Product Quality in International Trade
Borin, Alessandro; Lamieri, Marco - Volkswirtschaftliche Fakultät, … - 2007
In recent years empirical studies offer clear evidence on the increasing importance of intra-industry trade in presence of vertically differentiated products. These are goods that, within the same industry, are distinguished by different quality levels. In the new trade theory and in the...
Persistent link: https://www.econbiz.de/10005836304