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CENTRAL BANK INDEPENDENCE AND MACROECONOMIC PERFORMANCE: SOME COMPARATIVE EVIDENCE.
Alesina, A.; Summers, L.H. - Harvard Institute of Economic Research (HIER), … - 1990
Persistent link: https://www.econbiz.de/10005779282
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Finite-Sample Simulation-Based Inference in VAR Models with Applications to Order Selection and Causality Testing
DUFOUR, Jean-Marie; JOUINI, Tarek - Département de Sciences Économiques, Université de … - 2005
Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number...
Persistent link: https://www.econbiz.de/10005133168
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Finite-Sample Simulation-Based Inference in VAR Models with Applications to Order Selection and Causality Testing
Dufour, Jean-Marie; Jouini, Tarek - Centre Interuniversitaire de Recherche en Analyse des … - 2005
Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number...
Persistent link: https://www.econbiz.de/10005100698
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Finite-Sample Simulation-Based Inference in VAR Models with Applications to Order Selection and Causality Testing
DUFOUR, Jean-Marie; JOUINI, Tarek - Centre Interuniversitaire de Recherche en Économie … - 2005
Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number...
Persistent link: https://www.econbiz.de/10008671539
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Macroeconomic policy and EMU enlargement
Neck, Reinhard; Haber, Gottfried - In: CESifo Forum 7 (2006) 4, pp. 17-21
Persistent link: https://www.econbiz.de/10004998679
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Real Sector Shocks and Monetary Policy Responses in a in a financially vulnerable Emerging Economy
Rajan, Ramkishen S.; Parulkar, Makarand - eSocialSciences - 2006
When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates; and (b) the direct impact of exchange rate changes on output. The first pertains to the monetary...
Persistent link: https://www.econbiz.de/10005341684
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rational inattention
Wiederholt, Mirko - Palgrave Macmillan
Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...
Persistent link: https://www.econbiz.de/10009395648
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Consequences of Debt Policy in a Stochastically Growing Monetary Economy.
Grinols, E-L; Turnovsky, S-J - Department of Economics, University of Washington - 1997
The effects of open market operations and long versus short bond financing on risk in financial markets in a stochastically growing economy are studied. An increase in short bonds, resulting from exchanging long bonds, increases the riskiness of long bonds and raises their real rate of return....
Persistent link: https://www.econbiz.de/10005775290
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International Linkages and Macroeconomic News Effects in Interest Rate Volatility -Australia and the US.
Kim, S.-J.; Sheen, J. - School of Economics, Faculty of Arts and Social Sciences - 1998
The paper examines international linkages between daily time series of US and Australian 3 month Treasury Bills and 10 year Government Bonds from 1987-95, paying particular attention to the effects of macroeconomic announcements in both countries. The 2 country's interest rate data are modelled...
Persistent link: https://www.econbiz.de/10005775647
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Changes in Regime and the Long Run Fisher Effect: a Threshold Cointegration Analysis.
Henry, O.T. - Department of Economics, Faculty of Business and Economics - 1999
The Fisher equation predicts that nominal interest rates and inflation should move together one-for-one. Recently … published work argues that both nominal interest rates and inflation are non-linear. The evidence in this paper suggests that … nominal interest rates are well described as two-regime threshold unit root processes. However, inflation and real interest …
Persistent link: https://www.econbiz.de/10005587618