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Determinants of Trade Balance in West African Economic and Monetary Union (WAEMU) : evidence from heterogeneous panel analysis
Keho, Yaya - In: Cogent economics & finance 9 (2021) 1, pp. 1-16
This study investigates the determinants of the trade balance in West African and Monetary Union (WAEMU) over the period 1975-2017. We employ the Mean Group (MG) estimator along with the grouped mean version of Dynamic OLS (DOLS) and Fully Modified OLS (FMOLS) to deal with both endogeneity and...
Persistent link: https://www.econbiz.de/10013184391
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Fundamentals of the Real Exchange Rate of the CFA Franc in WAEMU : An Application of Non-Stationary Panel Data Econometrics
Wonyra, Kwami Ossadzifo - 2018
Identifying the fundamentals of the real exchange rate of the CFA franc in WAEMU is the main objective of this paper. To achieve this, we used panel data over a period from 1984 to 2014. The results obtained using the Pooled Mean Group (PMG) method show that investment, government spending,...
Persistent link: https://www.econbiz.de/10012931146
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Testing Purchasing Power Parity for the New EU Members and Turkey : A Panel Cointegration Analysis with Disaggregated CPI
Saygili, Hulya - 2009
This study applies multivariate panel cointegration technique to evaluate purchasing power parity (PPP) hypothesis by … to get evidence for cointegration to support PPP can be attributed to the inclusion of non-tradable goods in the …
Persistent link: https://www.econbiz.de/10012719706
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Panel data analysis of the proposed monetary union in the Southern African development community
Zerihun, Mulatu Fekadu; Breitenbach, Marthinus C. - In: Spoudai : journal of economics and business 67 (2017) 4, pp. 23-44
1995-2016. We use first and second generation panel unit root tests and panel cointegration tests to test mainly for … stationarity and cointegration of real exchange rate series for the group of SADC countries. The findings from this study confirm … that there is stationarity and cointegration of the real exchange rate series among the 11 SADC member countries included …
Persistent link: https://www.econbiz.de/10011843930
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Cross-section Dependence and the Monetary Exchange Rate Mode – A Panel Analysis
Beckmann, Joscha; Belke, Ansgar; Dobnik, Frauke - 2011
national stochastic trends. We find evidence for a cross-section cointegration relationship between the exchange rates and …
Persistent link: https://www.econbiz.de/10010274448
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A New Poolability Test for Cointegrated Panels
Westerlund, Joakim - 2013
This paper proposes a new test of the null hypothesis that the parameters in a cointegrated panel data regression are equal across the cross-section. The asymptotic distribution of the new test statistic is derived and simulation results are provided to suggest that it performs very well in...
Persistent link: https://www.econbiz.de/10013075469
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Cross-section dependence and the monetary exchange rate model : a panel analysis
Beckmann, Joscha; Belke, Ansgar; Dobnik, Frauke - 2011
national stochastic trends. We find evidence for a cross-section cointegration relationship between the exchange rates and … ; cointegration ; vector error-correction models …
Persistent link: https://www.econbiz.de/10009124360
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The ASEAN experience of the purchasing power parity theory
Murad, S. M. Woahid; Hossain, Mohammad Amzad - In: Financial innovation : FIN 4 (2018) 23, pp. 1-10
Appl Econ 22:265-312, 2007). For panel cointegration analysis, we employed the four error-correction-based Westerlund (Oxf … Bull Econ Stat 69:709-748, 2007) panel cointegration tests. The Westerlund (Oxf Bull Econ Stat 69:709-748, 2007) tests are … estimated the cointegration test excluding Indonesia and Brunei. The findings support our initial results. Further, all the …
Persistent link: https://www.econbiz.de/10011921966
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Getting PPP right: Identifying mean-reverting real exchange rates in panels
Chortareas, Georgios; Kapetanios, George - 2008
Recent advances in testing for the validity of Purchasing Power Parity (PPP) focus on the time series properties of real exchange rates in panel frameworks. One weakness of such tests, however, is that they fail to inform the researcher as to which cross-section units are stationary. As a...
Persistent link: https://www.econbiz.de/10010280777
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Real exchange rate misalignment in the euro area : is the current development helpful?
Hajek, Jan - 2016
We use the behavioral equilibirum exchange rate (BEER) approach to examine the extent of real exchange rate misalignment in the euro area over the period 1980-2014. In a panel data setting, we find significant links between real exchange rates, relative productivity, trade balance and terms of...
Persistent link: https://www.econbiz.de/10011505006