Showing 1 - 10 of 158
<title>Abstract</title> Applying the GARCH or ARCH model, this paper finds that Poland's stock market index is positively associated with industrial production or real GDP and the German stock market index, negatively affected by the government borrowing/GDP ratio, the real interest rate, the nominal effective...
Persistent link: https://www.econbiz.de/10010971473
<title>Abstract</title> This article analyzes the behaviour of the USD/EUR exchange rate based on four major models. Using the mean absolute percent error (MAPE) as a criterion, the extended Mundell‐Fleming model performs best, followed by the PPP model using the relative PPI, the monetary model, the PPP...
Persistent link: https://www.econbiz.de/10010971515
This paper finds that except for Poland, the other six countries possess moderate or significant monetary autonomy in the long run as their interest rates make partial or small adjustments to a change in the Euro area interest rate. Except for the Czech Republic and Poland, the findings support...
Persistent link: https://www.econbiz.de/10010857170
This paper finds evidence of the trilemma for Bulgaria, suggesting that exchange rate stability, monetary independence and free capital mobility are binding and constrained. The policy combination of exchange rate stability and monetary independence has been prevalent. More exchange rate...
Persistent link: https://www.econbiz.de/10010857201
This study examines the bank lending channel for Hungary based on a simultaneous-equation model consisting of the demand for and supply of bank loans. The three-stage least squares method is applied. This paper finds evidence of a bank lending channel for Hungary. Expansionary monetary policy...
Persistent link: https://www.econbiz.de/10010857232
The aim of present study is to investigate the demand and supply of money using Australian data. This paper is used a simultaneous-equation model and applying the three-stage least squares method. This paper finds that money demand is negatively associated with the interest rate and positively...
Persistent link: https://www.econbiz.de/10010902139
Extending the open-economy loanable funds model, this paper finds that more government deficit as a percentage of GDP does not lead to a higher government bond yield. In addition, a higher real Treasury bill rate, a higher expected inflation rate, a higher EU government bond yield, or an...
Persistent link: https://www.econbiz.de/10010904524
The purpose of this paper is to compare four major exchange rate models. Based on the value of adjusted R2, the uncovered interest parity model performs best, followed by the purchasing power parity model using the relative PPI, the Mundell-Fleming model, and the monetary model. The unexpected...
Persistent link: https://www.econbiz.de/10010911567
Persistent link: https://www.econbiz.de/10010920724
Extending the open-economy loanable funds model, this paper finds that more government borrowing as a percent of GDP leads to a higher government bond yield, that a higher real money market rate, a higher expected inflation rate, a higher EU government bond yield, or a decrease in the Slovak...
Persistent link: https://www.econbiz.de/10010938634