Showing 1 - 10 of 587
Abstract Based on new estimates of public and private capital stocks for 22 OECD countries we study the dynamic effect of public capital on the real gross domestic product using a vector autoregression approach. Whereas most former studies put effort on examining the effects of public capital in...
Persistent link: https://www.econbiz.de/10014619285
Summary Following standard real business cycle theory, long run economic growth and short run business cycle fluctuations are attributed to a series of productivity shocks propagated by the economic system which is assumed to be in a rational expectations equilibrium. Characterizing the...
Persistent link: https://www.econbiz.de/10014608617
Summary The objectives of this paper are (i) to assess the actual economic implications of the new European banana policy on prices, consumption and trade in Germany within a theoretical and quantitative analysis; (ii) to elaborate the welfare implications of the European banana market policy on...
Persistent link: https://www.econbiz.de/10014608652
saisonalen Kointegration im Rahmen eines multivariaten Fehlerkorrekturmodells angewendet, das neben den Investitionen die Exporte …-seasonal adjusted data from 1968 to 1989. The empirical analysis is based on cointegration techniques using the multivariate error … investment series. Given this result, the evidence for cointegration relationships at the seasonal frequencies is rather weak …
Persistent link: https://www.econbiz.de/10014608697
Summary 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/10014608780
-LM model of the open economy, we conduct a cointegration analysis from which we obtain plausible long-run relationships. In the …
Persistent link: https://www.econbiz.de/10014608971
first step, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two …
Persistent link: https://www.econbiz.de/10014608973
Summary In this paper aggregate supply and demand functions for Germany’s imports and exports are estimated for the period 1975:1–1999:4. Previous studies are extended in two regards: First, the multivariate estimation technique of Johansen (1988, 1991) is employed, which helps to avoid the...
Persistent link: https://www.econbiz.de/10014608985
Prozesse verwendet: Der Test auf Kointegration erfolgt auf Basis der Trace-Statistik des Johansen-Verfahrens. Zusätzlich wird … for cointegration between the integrated series of order 1 the multivariate cointegration methodology proposed by Johansen …-run relationship between the variables and to provide a further test of cointegration. The dynamic OLS procedure is applied to allow …
Persistent link: https://www.econbiz.de/10014609037
Purpose – This study aims to examine the relationship between the oil price and the exchange rate for Nigeria between … predicting the exchange rate over long horizons in Nigeria.  …
Persistent link: https://www.econbiz.de/10014774117