Showing 1 - 10 of 2,068
energy, agricultural, and food commodities using monthly data between 1970 and 2013. The authors study the extent and the …
Persistent link: https://www.econbiz.de/10010886774
Prediction markets – markets used to forecast future events – have been used to accurately forecast the outcome of political contests, sporting events, and, occasionally, economic outcomes. This chapter summarizes the latest research on prediction markets in order to further their...
Persistent link: https://www.econbiz.de/10014025538
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Like most Sub-Saharan African countries, Kenya’s economic growth appears to have been primarily driven by factor accumulation. The Selected Issues paper and Statistical Appendix for Kenya examines economic developments and policies. During the last two decades, Kenya has been plagued by...
Persistent link: https://www.econbiz.de/10011244155
The paper focuses on distributional consequences of macroeconomic adjustment. The preferences of economic agents over the level of the real exchange rate derived from standard models are monotonic, with agents favoring either an infinitely appreciated or depreciated rate. To generate less...
Persistent link: https://www.econbiz.de/10005248306
commodities, food commodities and exports commodities. Design/methodology/approach – The study used cointegration and error …-run only producers of export commodities were responsive to price incentives. Practical implications – Producers respond to …
Persistent link: https://www.econbiz.de/10005081177
This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate … main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices … variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while …
Persistent link: https://www.econbiz.de/10005263733
This paper explores the sources of inflation in Sub-Saharan Africa by examining the relationship between inflation, the output gap, and the real money gap. Using heterogeneous panel cointegration estimation techniques, we estimate cointegrating vectors for the production function and the real...
Persistent link: https://www.econbiz.de/10005263752
Recent turmoil in financial and commodities markets has renewed questions regarding how well markets discover … equilibrium prices, particularly when those markets are highly complex. A relatively new critique questions whether markets can … realistically find equilibrium prices if computers cannot. For instance, in a simple exchange economy with Leontief preferences, the …
Persistent link: https://www.econbiz.de/10005264183