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As economies recover from the pandemic, major central banks are beginning “lift-off.” This paper looks at issues beyond lift-off to full normalization or “cruising altitude.” Two novel models are used: 1) a yield curve model where the riskless rate is computed directly from bond yields...
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A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on...
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This paper uses monthly data from April 2005 to August 2013 for Taiwan to propose a novel tourism indicator, namely the … Tourism Conditions Index (TCI). TCI accounts for the spillover weights based on the Granger causality test and estimates of … the multivariate BEKK model for four TCI indicators to predict specific tourism and economic environmental indicators for …
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