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The effects of variance breaks on homogenous panel unit root tests
Herwartz, Helmut; Siedenburg, Florian - 2009
Noting that many economic variables display occasional shifts in their second order moments, we investigate the performance of homogenous panel unit root tests in the presence of permanent volatility shifts. It is shown that in this case, panel unit root tests derived under time invariant...
Persistent link: https://www.econbiz.de/10003887238
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An empirical study on causes and consequences of inflation and inflation uncertainty
Hartmann, Matthias - 2012
Empirical study of causality between inflation, inflation uncertainty and other macroeconomicy quantities. Additionally, the issue of how to measure the unobservable inflation uncertainty is addressed.
Persistent link: https://www.econbiz.de/10009671994
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State dependence in the finance-growth nexus : a functional coefficient approach
Herwartz, Helmut; Yabibal Mulualem Walle - 2013
Noting that "one size does not fit all" in the case of the finance-growth (FG) nexus, a growing body of literature has recently focused on uncovering economic conditions under which financial development could be beneficial (detrimental) to economic development. We look into these conditions by...
Persistent link: https://www.econbiz.de/10009752169
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A new approach to bootstrap inference in functional coefficient models
Herwartz, Helmut (contributor); Fang, Xu (contributor) - 2007
We introduce a new, factor based bootstrap approach which is robust under heteroskedastic error terms for inference in functional coefficient models. Modeling the functional coefficient parametrically, the bootstrap approximation of an F statistic is shown to hold asymptotically. In simulation...
Persistent link: https://www.econbiz.de/10003477963
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Long-run links among money, prices, and output : world-wide evidence
Herwartz, Helmut; Reimers, Hans-Eggert - 2001
analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a …. Moreover, parameter restrictions for the long-run relationships implied by the monetary theory are tested. Country specific P … Preisniveau und dem realen Output testet. Weiterhin werden die Parameterrestriktionen, die sich durch die monet¨are Theorie …
Persistent link: https://www.econbiz.de/10011419407
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Economic growth and judicial independence : cross country evidence using a new set of indicators
Feld, Lars P.; Voigt, Stefan - 2003
Rational politicians are interested in judicial independence (JI) in order to make their promises credible. But if politicians preferences deviate from the dicta of the judiciary, they also have incentives to renege on judicial independence. These two conflicting aspects are measured by two...
Persistent link: https://www.econbiz.de/10011507670
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Making judges independent : some proposals regarding the judiciary
Feld, Lars P.; Voigt, Stefan - 2004
It is argued that an independent judiciary is a necessary condition for both individual liberty and economic prosperity. After having surveyed the literature dealing with how to arrange for an independent judiciary, the authors derive some additional policy implications by drawing on two...
Persistent link: https://www.econbiz.de/10011450509
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Democracy does cause growth
Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual; … - 2016
Persistent link: https://www.econbiz.de/10012028477
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Economic growth and judicial independence, a dozen years on : cross-country evidence using an updated set of indicators
Voigt, Stefan; Gutmann, Jerg; Feld, Lars P. - 2014
Over 10 years ago, Feld and Voigt (2003) introduced the first indicator for objectively meas-uring the actual independence of the judiciary and demonstrated its utility in a large cross-section of countries. The indicator has been widely used, but also criticized. This paper pre-sents more...
Persistent link: https://www.econbiz.de/10010417470
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Population and civil war
Acemoglu, Daron; Fergusson, Leopoldo; Johnson, Simon - 2017
Medical and public health innovations in the 1940s quickly resulted in significant health improvements around the world …
Persistent link: https://www.econbiz.de/10011689525