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of GDP growth in Ukraine. We applied CSA and PCA approaches to construct indices of these partitions. We further derived … GDP growth distributions and explored their behavior under different scenarios. Results from the model with PCA indices … inverse regardless of quantile of GDP distribution. Moreover, we found that the financial conditions index has the largest …
Persistent link: https://www.econbiz.de/10012606379
Persistent link: https://www.econbiz.de/10003839749
This paper offers two innovations for empirical growth research. First, the paper discusses principal components augmented regressions to take into account all available information in well-behaved regressions. Second, the paper proposes a frequentist model averaging framework as an alternative...
Persistent link: https://www.econbiz.de/10009734674
Many empirical studies have shown that factor models produce relatively accurate forecasts compared to alternative short-term forecasting models. These empirical findings have been established for different macroeconomic data sets and different forecast horizons. However, various specifications...
Persistent link: https://www.econbiz.de/10010395082
In this paper, the authors develop a new tool to improve the short-term forecasting of real GDP growth in the euro area … usefulness of a wide range of indicators in predicting short-term real GDP growth. In line with previous Bank studies, the … results suggest that the purchasing managers' index (PMI) is among the best-performing indicators to forecast real GDP growth …
Persistent link: https://www.econbiz.de/10010403330
literature to analyse the real convergence, on the dynamics of GDP per capita expressed in case of EU by PPS (Purchasing Power … country or group of countries the dynamics of the ratio between the individual level of GDP per capita and the average EU GDP … per capita. Thus we evaluate how the position of a country it was changed relative to the average level in EU of GDP per …
Persistent link: https://www.econbiz.de/10011866850
capital. A central result is a pronounced projected decrease in human capital, substantially weighing on the long-run GDP …
Persistent link: https://www.econbiz.de/10012703120
Consumers' expected income growth declined significantly during the Great Recession. It was the most severe drop ever observed in these data, and expectations have not yet fully recovered. Furthermore, this article shows that expected income growth is a strong predictor of actual future income...
Persistent link: https://www.econbiz.de/10013060018
, TARCH, NARCH, APARCH, EGARCH) to analyze quarterly time series of GDP and Government Consumption Expenditures & Gross … Literature, Limitations and Future Research, Gretl Scripts]. Additionally, I discovered a unique interaction between GDP and …, GDP responded positively and very significantly (0.00248) to GCEGI, while GCEGI reacted positively but not too …
Persistent link: https://www.econbiz.de/10012904559
to forecast GDP growth of the six largest member countries is developed, using quantile regressions to construct a … probability distribution of future GDP, as opposed to mean point forecasts. This approach allows uncertainty to be assessed …
Persistent link: https://www.econbiz.de/10009690941