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This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...
Persistent link: https://www.econbiz.de/10009635910
Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates u0097 that...
Persistent link: https://www.econbiz.de/10009635953
The paper proposes a multi-factor international asset pricing model in which the exchange rate is allowed to be co-determined by a risk factor imperfectly correlated to other priced risks in the economy. The significance of this factor can be established as long as one is able to observe a proxy...
Persistent link: https://www.econbiz.de/10009636537
In this note we demonstrate that in affine models for bilateral exchange rates, the nature of return interdependence during crises depends on the tail properties of the fundamentals' distributions. We denote crisis linkages as either strong or weak, in the sense that the dependence remains or...
Persistent link: https://www.econbiz.de/10009636547
We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on economic activity and welfare. In the first part of the paper, the GARCH-SVARmodel is applied to measure empirically the effect of the conditional exogenous exchange rate...
Persistent link: https://www.econbiz.de/10009636551
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Kosovo (EUOK) in improving the programming and implementation of information and communication (IC) Programmes funded by … 2015-2020 assistance, taking into consideration the lessons learned and the performance of past IPA information and … for the enlargement process. However, a strengthening of the strategic approach to information and communication would be …
Persistent link: https://www.econbiz.de/10011799481
The rapid evolution of information and communications technology (ICT) and associated digital communications over the … to enhance collaboration and information sharing; censorship circumvention technologies allow people to bypass attempts … to monitor and control information and communication flows. However, as well as unleashing tremendous new opportunities …
Persistent link: https://www.econbiz.de/10011902441