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Identifying unambiguously the presence of a bubble in an asset price remains an unsolved problem in standard econometric and financial economic approaches. A large part of the problem is that the fundamental value of an asset is, in general, not directly observable and it is poorly constrained...
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We analyze trade dynamics following past episodes of financial crises. Using an augmented gravity model and 179 crisis episodes from 1970-2009, we find that there is a sharp decline in a country's imports in the year following a crisis-19 percent, on average-and this decline is persistent, with...
Persistent link: https://www.econbiz.de/10013130812
We analyze trade dynamics following past episodes of financial crises. Using an augmented gravity model and 179 crisis episodes from 1970-2009, we find that there is a sharp decline in a country’s imports in the year following a crisis-19 percent, on average-and this decline is persistent,...
Persistent link: https://www.econbiz.de/10014403222
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the conventional symmetrical panel ARDL (PARDL) model was not able to formulate long-run cointegration between currency … recessionary period and the overall sampling time frame by utilizing the panel-based NARDL framework (PNARDL). The study suggests …
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