Fiji's total debt stands at 65% of GDP. Domestic debt constitutes 55% of GDP. The goal of this paper is to investigate whether military expenditure has contributed to Fiji's exploding debt levels over the period 1970 to 2005. Our empirical analysis, conducted within a cointegration and vector...

This paper aims to investigate the integrational properties of real GDP for 125 countries. Design/methodology/approach: The paper applies the Kwiatkowski et al. univariate test and a KPSS-type univariate test that accounts for multiple structural breaks - a test procedure proposed by...

In this paper, we depart from the literature on electricity consumption-real GDP in that for the first time we examine the reaction of real GDP to shocks in electricity consumption. To achieve this goal, we use the structural vector autoregressive (SVAR) model and examine the impact of...

The goal of this paper is to undertake a panel data investigation of long-run Granger causality between electricity consumption and real GDP for seven panels, which together consist of 93 countries. We use a new panel causality test and find that in the long-run both electricity consumption and...

The goal of this paper is to examine the responsiveness of the UK housing market to real and nominal shocks. To achieve this goal, we use a structural VAR model, based on quarterly data for the period 1957:1-2009:4. We find that in response to an interest rate shock, house prices (aggregate...