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Sustainability of Public Debt and Budget Deficit: Panel cointegration analysis for the European Union Member countries
Prohl, Silika; Schneider, Friedrich G. - 2006
In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and … error-correction frameworks. Unlike the previous empirical papers in this area, we apply the test for panel cointegration … panel cointegration relationship. In a next step, we search for the politico-economic factors which explain the variation in …
Persistent link: https://www.econbiz.de/10010294496
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International Labour Force Participation Rates by Gender: Unit Root or Structural Breaks?
Ozdemir, Zeynel Abidin; Balcilar, Mehmet; Tansel, Aysit - 2011
This paper examines the possibility of unit roots in the presence of endogenously determined multiple structural breaks in the total, female and male labour force participation rates (LFPR) for Australia, Canada and the USA. We extend the procedure of Gil-Alana (2008) for single structural break...
Persistent link: https://www.econbiz.de/10010500194
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The Taylor Rule: A Spurious Regression?
Österholm, Pär - 2003
processes, cointegration is a necessary condition both for consistent estimation of the parameters of the model and … compatibility between the model and the data. Tests find little support for cointegration and, together with an out …
Persistent link: https://www.econbiz.de/10010321545
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Predicting Inflation : Does The Quantity Theory Help?
Bachmeier, Lance J.; Swanson, Norman R. - 2003
are also reported on. The first shows that cointegration vector parameter estimation error is crucial when using VEC … alternative models, due to parameter estimation error, indicating that caution needs to be exercised when interpreting the results …
Persistent link: https://www.econbiz.de/10010263217
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Spurious correlation in estimation of the health production function: A note
Akkoyunlu, Sule; Lichtenberg, Frank R.; Siliverstovs, Boriss - 2009
In this paper, we address the issue of spurious correlation in the production of health in a systematic way. Spurious correlation entails the risk of linking health status to medical (and nonmedical) inputs when no links exist. This note first presents the bounds testing procedure as a method to...
Persistent link: https://www.econbiz.de/10010315553
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Trust and Growth in the 1990s - A Robustness Analysis
Bengtsson, Mikael; Berggren, Niclas; Jordahl, Henrik - 2005
uncertainty, we use Least Trimmed Squares, a robust estimation technique, to identify outliers and investigate how they affect the …
Persistent link: https://www.econbiz.de/10010321616
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Structural breaks in Iron-Ore prices: The impact of the 1973 oil crisis
Angelov, Nikolay - 2006
This paper investigates the time-series properties of the price of iron ore. The focus is on testing a unit-root null hypothesis against a trend-stationary alternative, with a structural break allowed under both hypotheses. We consider unit-root tests with or without structural breaks, applied...
Persistent link: https://www.econbiz.de/10010321602
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Is Privatization Enough? Finding Performance Breaks for UK Power Plants
Triebs, Thomas P.; Pollitt, Michael G. - Judge Business School <Cambridge> - 2010
compiled unbalanced panel of about 60 plants for the years 1980 to 2004. We measure efficiency as input demands for two …
Persistent link: https://www.econbiz.de/10009354096
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Measuring Income Elasticity for Swiss Money Demand: What do the cantons say about financial innovation?
Fischer, Andreas - 2005
Recent time-series evidence has re-confirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study...
Persistent link: https://www.econbiz.de/10011430054
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Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data
Bagnall, John; Bounie, David; Huynh, Kim P.; Kosse, Anneke - 2014
We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the United States). Our paper finds cross-country differences –...
Persistent link: https://www.econbiz.de/10013370109