Showing 1 - 10 of 93
In the panel conditionally homogenous vectorautoregressive model, the cross-sectional units' dynamics are generally heterogenous, but homogenous if units share the same structural characteristics. The panel conditionally homogenous vectorautoregressive model thus allows (i) to account for...
Persistent link: https://www.econbiz.de/10011107609
We investigate whether the classic Mundell-Flemming "trilemma" has morphed into a "dilemma" due to financial globalisation. According to the dilemma hypothesis, global financial cycles determine domestic financial conditions regardless of an economy's exchange rate regime and monetary policy...
Persistent link: https://www.econbiz.de/10011160715
In this paper, Data Envelopment Analysis (DEA) is used to evaluate the performance of individual bus lines composing the public transport network in Thessaloniki, Greece. Results showed that efficiency of local bus lines is slightly better than operational effectiveness without indicating a...
Persistent link: https://www.econbiz.de/10011115818
I estimate the transmission of a common euro area monetary policy shock across individual euro area economies. To do so, I develop a global VAR model in which all euro area economies are included individually while, at the same time, their common monetary policy is modelled as a function of euro...
Persistent link: https://www.econbiz.de/10011208928
I quantify the importance of financial structure, labor market rigidities and industry mix for cross-country asymmetries in monetary transmission. To do so, I determine how closely the impulse responses to a monetary policy shock obtained from country-specific vectorautoregressive (VAR) models...
Persistent link: https://www.econbiz.de/10010957093
We find that an expansion of credit has a positive effect on per capita output growth only up to a point. Beyond this threshold the impact of finance on growth is not statistically significant anymore. We show, however, that the estimated non-linear relationship may stem from the omission of...
Persistent link: https://www.econbiz.de/10010930711
I quantify the importance of financial structure, labor market rigidities and industry mix for cross-country asymmetries in monetary transmission. To do so, I determine how closely the impulse responses to a monetary policy shock obtained from country-specific vectorautoregressive (VAR) models...
Persistent link: https://www.econbiz.de/10010535439
This paper quantifies the importance of financial structure, labor market rigidities and industry mix for the monetary transmission mechanism. To do so, I determine how closely the impulse responses to a monetary policy shock obtained from country-specific vectorautoregressive (VAR) models and a...
Persistent link: https://www.econbiz.de/10010744336
In this paper, we study development in a panel of 87 countries from 1970 to 2005. We focus on characterizing institutionally driven heterogeneities in the development effects of macroeconomic policies and on comparing the development process as measured by GDP to that measured by the Human...
Persistent link: https://www.econbiz.de/10008914288
In this paper, we study economic development in a panel of 84 countries from 1970 to 2005. We focus on characterizing heterogeneities in the development effects of macroeconomic policies and on comparing the development process as measured by GDP to that measured by the Human Development Index...
Persistent link: https://www.econbiz.de/10008673314