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Stability tests for cointegrating coefficients are known to have very low power with small to medium sample sizes. In this paper we propose to solve this problem by extending the tests to dependent cointegrated panels through the stationary bootstrap. Simulation evidence shows that the proposed...
Persistent link: https://www.econbiz.de/10010295247
use robo-advisory services, including their financial behaviour and investments. The methodology of the article involves … change the amount of their expenses. Most of the surveyed people increased their savings during the pandemic. Poles more …
Persistent link: https://www.econbiz.de/10013466315
Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are … therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although … to incentivize investments; developing and implementing focused policies to support the growth of micro, small and medium …
Persistent link: https://www.econbiz.de/10014322590
savings, investments and debts by couple members, and how these vary by individual and household characteristics. A particular …
Persistent link: https://www.econbiz.de/10010288971
savings into investments would prove very useful. Savings of people should be the most important investment resource for the … private savings that affect the domestic investments significantly. The most of the savings are made when they are fully …This article aims to analyze the possibilities of the accumulation and mobilization of savings and their role in the …
Persistent link: https://www.econbiz.de/10010289436
Stability tests for cointegrating coefficients are known to have very low power with small to medium sample sizes. In this paper we propose to solve this problem by extending the tests to dependent cointegrated panels through the stationary bootstrap. Simulation evidence shows that the proposed...
Persistent link: https://www.econbiz.de/10010295297
We use a panel cointegration model with multiple time- varying individual effects to control for the enigmatic missing factors in the credit spread puzzle. Our model specification enables as to capture the unobserved dynamics of the systematic risk premia in the bond market. In order to estimate...
Persistent link: https://www.econbiz.de/10010293375
This paper presents results concerning the performance of both single equation and system panel cointegration tests and estimators. The study considers the tests developed in Pedroni (1999, 2004), Westerlund (2005), Larsson, Lyhagen, and Löthgren (2001) and Breitung (2005); and the estimators...
Persistent link: https://www.econbiz.de/10010293988
In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and error-correction frameworks. Unlike the previous empirical papers in this area, we apply the test for panel cointegration between the primary budget deficit and the public debt...
Persistent link: https://www.econbiz.de/10010294496
The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a long-run Engle and Granger cointegrating...
Persistent link: https://www.econbiz.de/10010295240