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On the past, present, and future of the Diebold-Yilmaz approach to dynamic network connectedness
Diebold, Francis X.; Yılmaz, Kamil - 2022
We offer retrospective and prospective assessments of the Diebold-Yilmaz connectedness research program, combined with personal recollections of its development. Its centerpiece in many respects is Diebold and Yilmaz (2014), around which our discussion is organized.
Persistent link: https://www.econbiz.de/10014540961
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The transition from industrial capitalism to a financialized bubble economy
Hudson, Michael - 2010
lenders-has spurred a shift in U.S. investment away from industry and toward speculation, mainly in real estate but also in …
Persistent link: https://www.econbiz.de/10010281706
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Financialization and corporate investments: The Indian case
Sen, Sunanda; DasGupta, Zico - 2015
Financialization creates space for the financial sector in economies, and in doing so helps to raise the share of …
Persistent link: https://www.econbiz.de/10010513046
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Have we been here before? Phases of financialization within the 20th century in the United States
Fasianos, Apostolos; Guevara, Diego; Pierros, Christos - 2016
This paper explores from a historical perspective the process of financialization over the course of the 20th century …. We identify four phases of financialization: the first, from the 1900s to 1933 (early financialization); the second, from … early 1970s and leads to the Great Recession (complex financialization). Our findings indicate that the main features of the …
Persistent link: https://www.econbiz.de/10011784659
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Semiparametric selection models with binary outcomes
Klein, Roger; Shen, Chan; Vella, Francis - 2014
This paper addresses the estimation of a semiparametric sample selection index model where both the selection rule and the outcome variable are binary. Since the marginal effects are often of primary interest and are difficult to recover in a semiparametric setting, we develop estimators for...
Persistent link: https://www.econbiz.de/10011396827
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Changing dynamics at the zero lower bound
Bäurle, Gregor; Kaufmann, Daniel; Kaufmann, Sylvia; … - 2016
The interaction of macroeconomic variables may change as the nominal shortterm interest rates approaches zero. In this paper, we propose an empirical model capturing these changing dynamics with a time-varying parameter vector autoregressive process. State-dependent parameters are determined by...
Persistent link: https://www.econbiz.de/10011629986
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Investment-Uncertainty Relationship in the Oil and Gas Industry
Ahmadi, Maryam; Manera, Matteo; Sadeghzadeh, Mehdi - 2018
Recent studies on oil market demonstrate endogeneity of oil price by modeling it as a function of consumption and precautionary demands and producers’ supply. However, studies analysing the effect of oil price uncertainty on investment, do not disentangle uncertainties raised by underlying...
Persistent link: https://www.econbiz.de/10011957005
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Did monetary policy kill the Phillips curve? Some simple arithmetics
Bergholt, Drago; Furlanetto, Francesco; Vaccaro-Grange, … - 2023
An apparent disconnect has taken place between inflation and economic activity in the US over the last 25 years, with price inflation remaining remarkably stable in spite of large fluctuations in the output gap and other measures of economic slack. This observation has led some to believe that...
Persistent link: https://www.econbiz.de/10014551721
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Leibnitz integral rule and its application to the business firm's longevity problem
Gander, James P. - 2020
The paper takes the Leibnitz Integral Rule (LIR) under variable integration limits and demonstrates how it can be applied to a business firm's dynamic problem of determining its optimum level of investment activity, when the longevity (life span) of the investment is itself a variable determined...
Persistent link: https://www.econbiz.de/10013269245
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Oil Price Shocks and Economic Growth in Oil-Exporting Countries
Ahmadi, Maryam; Manera, Matteo - 2021
The aim of this paper is to investigate how major net oil exporter economies react to oil price shocks. We contribute to the literature by considering, at the same time, the possible nonlinearity and asymmetry of this relationship with respect to sign, size and causes of the oil price shocks, as...
Persistent link: https://www.econbiz.de/10012605971