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Do Taxes Matter for Long-Run Growth? : Harberger's Superneutrality Conjecture
Mendoza, Enrique G. - 2006
investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this … highlights implications of different taxes for growth and investment in these models. The empirical work is based on cross … significant investment effects from income and consumption taxes that are consistent with small growth effects. The results are …
Persistent link: https://www.econbiz.de/10012781882
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Effectiveness of Sovereign Oil Funds as Instruments of Fiscal Stability : A Panel Data Analysis of the Influence of Sovereign Oil Funds on Government Spending and Fiscal Balance
Etemad, Alexandre - 2014
To enrich the debate about the fiscal effectiveness of sovereign wealth funds, this paper explores the effect of sovereign wealth funds (more precisely sovereign oil funds, SOFs) on the government spending in real term and as a share of GDP. First, we evaluate the relationship between the...
Persistent link: https://www.econbiz.de/10013054164
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Imposing Parsimony in Cross-Country Growth Regressions
Jarocinski, Marek - 2021
The number of variables related to long-run economic growth is large compared with the number of countries. Bayesian model averaging is often used to impose parsimony in the cross-country growth regression. The underlying prior is that many of the considered variables need to be excluded from...
Persistent link: https://www.econbiz.de/10013316179
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Does conflict disrupt growth? : evidence of the relationship between political instability and national economic performance
Polachek, Solomon W.; Sevastianova, Daria - 2010
Current empirical growth models limit the determinants of country growth to geographic, economic, and institutional variables. This study draws on conflict variables from the Correlates of War (COW) project to ask a critical question: How do different types of conflict affect country growth...
Persistent link: https://www.econbiz.de/10003940441
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Price Discovery in Crude Oil Prices
Kim, Cherl-Hyun - 2012
I examine the relative information roles among West Texas Intermediate spot crude price and four futures contracts (F1 through F4) with different maturities. Using a cointegrated system with a non-unitary cointegrating vector, I address price discovery by investigating which price is more...
Persistent link: https://www.econbiz.de/10013114634
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Pair-Wise Cointegration in Long-Run Growth Models
Bergheim, Stefan - 2007
This paper presents a novel theoretical and empirical approach to the analysis of long-run economic growth. It shows that most traditional theoretical models share the feature of pair-wise cointegration among the main variables. An augmented Kaldor model is proposed in contrast to the standard...
Persistent link: https://www.econbiz.de/10012730930
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Out-of-Sample Exchange Rate Predictability with Real-Time Data
Ince, Onur - 2019
This paper evaluates short-run out-of-sample exchange rate predictability with real-time data for 15 OECD countries from 1973 to 2013. We consider the Taylor rule fundamentals model, where the variables that enter the Taylor rule are used to forecast exchange rate changes, and the Taylor rule...
Persistent link: https://www.econbiz.de/10012903719
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Do Securitized Real Estate Markets Jump? International Evidence
Li, Jie - 2014
We apply a jump GARCH model to daily returns of the ten largest international securitized real estate markets and investigate the sources of large price changes. We document, for the first time, evidence for jump dynamics across major international securitized real estate markets. Large price...
Persistent link: https://www.econbiz.de/10013044490
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Does Conflict Disrupt Growth? Evidence of the Relationship between Political Instability and National Economic Performance
Polachek, Solomon W. - 2010
Current empirical growth models limit the determinants of country growth to geographic, economic, and institutional variables. This study draws on conflict variables from the Correlates of War (COW) project to ask a critical question: How do different types of conflict affect country growth...
Persistent link: https://www.econbiz.de/10013147555
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The Impact of Shadow Economy On the Stock Market Volatility. A Worldwide Panel Data Analysis
Georgiou, Miltiades N. - 2013
In the present paper an empirical analysis will point out that shadow economy can affect stock prices. The sample covers most industrialized world. Data are taken from Eurostat and (Schneider et al., 2010); (Schneider, 2013). The elaboration of these panel data is made feasible by means of the...
Persistent link: https://www.econbiz.de/10014151758