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This paper provides an interpretation of the global pattern of economic growth in the period following 1950. It uses a model in which growth in an individual country depends on a number of different so-called common trends that are representative of the global economy. Although such trends are...
Persistent link: https://www.econbiz.de/10009475786
This paper examines the short- and long-term relationships between seven Central Eastern European (CEE) stock markets and two developed stock markets, namely the German market and the US market. Application of the Gonzalo and Granger (1995) methodology indicates that the examined stock markets...
Persistent link: https://www.econbiz.de/10009476878
economies of Asia. Based on cointegration and vector error correction modeling the empirical results show that there exists …
Persistent link: https://www.econbiz.de/10009434881
capital, foreign direct investment (FDI) and information and communication technology (ICT). The Johansen (1988) cointegration …
Persistent link: https://www.econbiz.de/10009434905
Australia for the period 1950-2005. Cointegration and a vector error-correction model are used along with Granger causality … the cointegration analysis of production in Australia and should be included in the long-run production relationship along …
Persistent link: https://www.econbiz.de/10009434976
Traditional macroeconometric models of the Australian economy estimate the behaviour of wage and price inflation separately, thereby ignoring the possibility that there is a contemporaneous relationship between these two variables. This thesis follows a recent trend emerging in other small open...
Persistent link: https://www.econbiz.de/10009438087
that cointegration and the accompanying equilibriumcorrection relationship between market and book values for firms listed …
Persistent link: https://www.econbiz.de/10009438234
We use the All Ordinaries Index and the corresponding Share Price Index futures contract written against the All Ordinaries Index to estimate optimal hedge ratios, adopting several specifications: an ordinary least squares-based model, a vector autoregression, a vector error-correction model...
Persistent link: https://www.econbiz.de/10009440863
, relationships among the various topics are developed and the validity of empirical tests (e.g., cointegration tests) relating to …
Persistent link: https://www.econbiz.de/10009441024
Cointegration analysis has led to equilibrium-correction econometric systems being ubiquitous. But in a non …
Persistent link: https://www.econbiz.de/10009441388