Showing 1 - 10 of 378
The research delves into the determinants of inward FDI to Colombia in the context of economic integration promoted by … the country more attractive to foreign direct investment (FDI), in a framework of fiscal discipline and a stable economic … environment for economic growth, albeit characterised by complex institutional conditions. Government reforms have revitalized FDI …
Persistent link: https://www.econbiz.de/10014282677
of foreign direct investment (FDI), considering that the latter is an international technology diffusion channel …. Although FDI appears to be an important channel in the diffusion of technology models theoretically, empirical evidence related … to the effect of FDI on growth is ambiguous. By applying the approach of Ben-David (1996), which focuses on convergence …
Persistent link: https://www.econbiz.de/10010500261
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI … FDI - both inflows and outflows - and growth. The relationship between growth and equity flows is smaller and less stable …
Persistent link: https://www.econbiz.de/10010288124
This paper revisits inflation forecasting using reduced form Phillips curve forecasts, i.e., inflation forecasts using activity and expectations variables. We propose a Phillips curve-type model that results from averaging across different regression specifications selected from a set of...
Persistent link: https://www.econbiz.de/10012143721
The increasing availability of data and potential predictor variables poses new challenges to forecasters. The task of formulating a single forecasting model that can extract all the relevant information is becoming increasingly difficult in the face of this abundance of data. The two leading...
Persistent link: https://www.econbiz.de/10012654322
Large scale Bayesian model averaging and variable selection exercises present, despite the great increase in desktop computing power, considerable computational challenges. Due to the large scale it is impossible to evaluate all possible models and estimates of posterior probabilities are...
Persistent link: https://www.econbiz.de/10012654323
We consider forecast combination and, indirectly, model selection for VAR models when there is uncertainty about which variables to include in the model in addition to the forecast variables. The key di erence from traditional Bayesian variable selection is that we also allow for uncertainty...
Persistent link: https://www.econbiz.de/10012654331
We estimate a Markov-switching mixture of two familiar macroeconomic models: a richly parameterized dynamic stochastic general equilibrium (DSGE) model and a corresponding Bayesian vector autoregression (BVAR) model. We show that the Markov-switching mixture model dominates both individual...
Persistent link: https://www.econbiz.de/10010292369
We investigate the importance of employing a valid model for monetary policy analysis. Specifically, we investigate the economic significance of differences in specification and empirical validity of models. We consider three alternative econometric models of wage and price inflation in Norway....
Persistent link: https://www.econbiz.de/10012143665
This paper evaluates the sustainability of large current account imbalances in the era when the Chinese GDP growth rate and current account/GDP exceed 10%. We investigate the size distribution and the durability of current account deficits during 1966-2005, and report the results of a simulation...
Persistent link: https://www.econbiz.de/10010322714