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Time-Varying Interdependencies of Tourism and Economic Growth: Evidence from European Countries
Dragouni, Mina; Filis, George; Antonakakis, Nikolaos - 2013
In this study, we employ the novel measure of a VAR-based spillover index, developed by Diebold and Yilmaz (2012) to investigate the time-varying relationship between tourism and economic growth in selected European countries. Overall, the findings suggest that (i) the tourism-economy...
Persistent link: https://www.econbiz.de/10011345525
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Output Volatility, Economic Growth, and Cross-Country Spillovers: New Evidence for the G7 Countries
Antonakakis, Nikolaos; Badinger, Harald - 2012
period 1958M2-2011M7, thereby paying particular attention to spillovers within and between countries. Using the VAR … volatility are highly intertwined, with spillovers taking place into all four directions; ii) the importance of spillovers has … point to moderate growth-growth spillovers and sizable volatility-volatility spillovers across countries, suggesting that …
Persistent link: https://www.econbiz.de/10011345497
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The complex relationship between international tourism demand and economic growth: An analysis on Central and Eastern European economies
Bădulescu, Alina; Bădulescu, Daniel; Simuț, Ramona - In: Amfiteatru Economic Journal 20 (2018) Special Issue No. 12, pp. 935-950
Tourism is widely considered as driver for economic growth, and the "tourism-led-growth hypothesis" is often investigated in the literature. However, there is very limited literature examining how economic growth impacts tourism, an impact which is usually tacitly accepted, without being...
Persistent link: https://www.econbiz.de/10014476389
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Business Cycle Dynamics in the Euro Area: A Factor-SVAR Approach
Seymen, Atilim - 2009
global and euro area shocks as well as allows bilateral spillovers of country-specific shocks across the member economies …
Persistent link: https://www.econbiz.de/10011345443
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The Impact of US Uncertainty Shocks on Small Open Economies
Stockhammar, Pär; Österholm, Pär - 2016
In this paper, we investigate the impact of US uncertainty shocks on GDP growth in nine small open economies: Australia, Canada, Denmark, Finland, Iceland, New Zealand, Norway, Sweden and the United Kingdom. We compare the impact of two types of shocks: i) stock market volatility shocks and ii)...
Persistent link: https://www.econbiz.de/10012654416
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International business cycle spillovers
Yilmaz, Kamil - 2009
We apply Diebold-Yilmaz spillover index methodology to monthly industrial production indices to study business cycle interdependence among G-6 industrialized countries since 1958. The business cycle spillover index fluctuates substantially over time, increasing especially after the 1973-75,...
Persistent link: https://www.econbiz.de/10010277269
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Cross-category spillovers of economic policy uncertainty
Thiem, Christopher - 2018
policy categories are strong net transmitters of uncertainty spillovers (e.g. fiscal policy), while others show only a low … further reveals that the intensity and direction of spillovers change significantly over time. The total connectedness index …
Persistent link: https://www.econbiz.de/10011800304
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Norwegian Rhapsody? The Political Economy Benefits of Regional Integration
Campos, Nauro F.; Coricelli, Fabrizio; Moretti, Luigi - 2015
This paper investigates whether joint economic and political integration leads to larger economic benefits than just economic integration. The identification strategy rests on the fact that Norway, at the time of the 1995 Enlargement of the European Union (EU), had successfully completed...
Persistent link: https://www.econbiz.de/10011288223
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The growth effects of R&D spending in the EU: A meta-analysis
Kokko, Ari; Tingvall, Patrik Gustavsson; Videnord, Josefin - In: Economics: The Open-Access, Open-Assessment E-Journal 9 (2015) 2015-40, pp. 1-26
In this paper we conduct a meta-analysis to examine the link between R&D spending and economic growth in the EU and other regions. The results suggest that the growth-enhancing effect of R&D in the EU15 countries does not differ from that in other countries in general, but it is less significant...
Persistent link: https://www.econbiz.de/10011382684
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Real Income Convergence between Central Eastern and Western Europe: Past, Present, and Prospects
Matkowski, Zbigniew; Prochniak, Mariusz; Rapacki, Ryszard - 2016
The paper presents an analysis of real income convergence between the 11 countries of Central Eastern Europe which have joined the European Union (EU11) and 15 countries of Western Europe (EU15) in the period 1993-2015. The evolution of the income gap between the two groups of countries in terms...
Persistent link: https://www.econbiz.de/10011546733