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Empirical Assessment of the Present Value Model of Stock Prices Using the Data from Thailand’s Stock Market
Jiranyakul, Komain - Volkswirtschaftliche Fakultät, … - 2008
: variance bounds test, equity price bubbles test, and cointegration tests. The results from the variance bounds tests show that … West’s two-step test. There is no cointegration between stock prices and dividends from the results of both Engle …-Granger cointegration test and the bounds testing for cointegration. The divergence of stock prices from their fundamental value and no …
Persistent link: https://www.econbiz.de/10011108498
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Stock Returns and Output Growth in Emerging and Advanced Economies
Mauro, Paolo - International Monetary Fund (IMF) - 2000
This paper studies the correlation between output growth and lagged stock returns in a panel of emerging market economies and advanced economies. It finds that the correlation is as strong in emerging market economies as in advanced economies. Asset prices therefore contain valuable information...
Persistent link: https://www.econbiz.de/10005769095
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Go Long or Short in Pyramids? News From the Egyptian Stock Market
Massa, Isabella; Billmeier, Andreas - International Monetary Fund (IMF) - 2007
Similar to other emerging economies, the Egyptian stock market has recently experienced a remarkable run-up but also a major downturn. This paper analyzes the stock market from two angles. First, it compares the performance of the major stock price index with its underlying fundamentals. Second,...
Persistent link: https://www.econbiz.de/10005604800
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In Defense of Electricity as a General Purpose Technology
Kander, Astrid; Schön, Lennart; Enflo, Kerstin - Centre for Innovation, Research and Competence in the … - 2007
propose cointegration analyses. We demonstrate a clear impact from electrification on energy productivity in those broad …
Persistent link: https://www.econbiz.de/10005148507
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The causal relationship between patent growth and growth of GDP with quarterly data in the G7 countries: cointegration, ARDL and error correction models
Josheski, Dushko; Koteski, Cane - Volkswirtschaftliche Fakultät, … - 2011
patents growth and quarterly growth of GDP. Johansen’s procedure for cointegration showed that long run multipliers are …
Persistent link: https://www.econbiz.de/10009278288
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Spurious correlation in estimation of the health production function: A note
Akkoyunlu, Sule; Lichtenberg, Frank R.; Siliverstovs, Boriss - KOF Swiss Economic Institute, Department of Management, … - 2009
In this paper, we address the issue of spurious correlation in the production of health in a systematic way. Spurious correlation entails the risk of linking health status to medical (and nonmedical) inputs when no links exist. This note first presents the bounds testing procedure as a method to...
Persistent link: https://www.econbiz.de/10005256856
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Spurious correlation in estimation of the health production function: A note
Akkoyunlu, Sule; Lichtenberg, Frank R.; Siliverstovs, Boriss - Institut für Volkswirtschaftslehre, … - 2009
In this paper, we address the issue of spurious correlation in the production of health in a systematic way. Spurious correlation entails the risk of linking health status to medical (and nonmedical) inputs when no links exist. This note first presents the bounds testing procedure as a method to...
Persistent link: https://www.econbiz.de/10005756608
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Blood, Sweat, and Tears: The Rise and Decline of the East German Economy, 1949-1988
Blum, Ulrich; Dudley, Leonard - In: Journal of Economics and Statistics (Jahrbuecher fuer … 220 (2000) 4, pp. 438-452
The rise of the East-German economy in the 1950s and 1960s and its decline in the 1970s and 1980s is difficult to explain by neoclassical economics. However, the observed life cycle may be explained by the inclusion of concepts from old and new institutional economics and from functional...
Persistent link: https://www.econbiz.de/10005027160
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Macroeconomic Forces and Stock Prices: Evidence from the Bangladesh Stock Market
Khan, Mashrur Mustaque; Yousuf, Ahmed Sadek - Deutsche Zentralbibliothek für … - 2013
-series techniques were used which include Cointegration, Vector Error Correction Model (VECM), Impulse Response Functions (IRF) and … Variance Decompositions (VDC). Cointegration analysis, along with the VECM, suggests that interest rates, crude oil prices and …
Persistent link: https://www.econbiz.de/10010957804
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The Long-run Relationship among Index-linked Bonds and Conventional Bonds
Benlagha, Noureddine - In: Review of Economics & Finance 3 (2013) February, pp. 15-24
Johansen methodology is applied to estimate different VAR-based cointegration tests. The presence of a structural break due to … the subprime crisis is discussed as well. Two main results are reached: First, the cointegration test indicates the …
Persistent link: https://www.econbiz.de/10010927760