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Testing the convergence hypothesis for OECD countries : a reappraisal
Gadea, María Dolores; Sanz-Villarroya, Isabel - 2016
This paper reviews the results of a number of empirical studies of convergence among the OECD countries and discusses … OECD countries, there are different clusters. The parameter representing the convergence hypothesis, despite being negative … convergence between the countries that belong to the upper quantiles. Moreover, 1960-1970 is highlighted as the period in which …
Persistent link: https://www.econbiz.de/10011558657
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Testing the convergence hypothesis for OECD countries : a reappraisal
Gadea, María Dolores; Sanz-Villarroya, Isabel - 2017
This paper reviews the results of a number of empirical studies of convergence among the OECD countries and discusses … OECD countries, there are different clusters. The parameter representing the convergence hypothesis, despite being negative … convergence between the countries that belong to the upper quantiles. Moreover, 1960–1970 is highlighted as the period in which …
Persistent link: https://www.econbiz.de/10011629413
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Time-varying interdependencies of tourism and economic growth : evidence from European countries
Dragouni, Mina; Filis, George; Antonakakis, Nikolaos - 2013
In this study, we employ the novel measure of a VAR-based spillover index, developed by Diebold and Yilmaz (2012) to investigate the time-varying relationship between tourism and economic growth in selected European countries. Overall, the findings suggest that (i) the tourism-economy...
Persistent link: https://www.econbiz.de/10011374294
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Tracking growth and the business cycle : a stochastic common cycle model for the Euro area
Azevedo, João Valle e; Koopman, Siem Jan; Rua, António - 2003
This paper proposes a new model-based method to obtain a coincident indicator for the business cycle. A dynamic factor model with trend components and a common cycle component is considered which can be estimated using standard maximum likelihood methods. The multivariate unobserved components...
Persistent link: https://www.econbiz.de/10011334364
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A panel regression analysis of human capital relevance in selected Scandinavian and SE European countries
Kokotovic, Filip - In: UTMS journal of economics / University of Tourism and … 7 (2016) 1, pp. 13-24
The study of human capital relevance to economic growth is becoming increasingly important taking into account its relevance in many of the Sustainable Development Goals proposed by the UN. This paper conducted a panel regression analysis of selected SE European countries and Scandinavian...
Persistent link: https://www.econbiz.de/10011538403
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Equilibrium real interest rates and secular stagnation : an empirical analysis for euro area member countries
Belke, Ansgar; Klose, Jens - 2016
Is secular stagnation a valid concern for Euro Area countries? We tackle this question using the well-established Laubach-Williams model to estimate the unobservable equilibrium real interest rate and compare it to the actual real rate. We apply our approach to twelve Euro Area countries, since...
Persistent link: https://www.econbiz.de/10011500118
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Nowcasting and forecasting economic growth in the Euro area using principal components
Hindrayanto, Irma; Koopman, Siem Jan; Winter, Jasper de - 2014
Many empirical studies have shown that factor models produce relatively accurate forecasts compared to alternative short-term forecasting models. These empirical findings have been established for different macroeconomic data sets and different forecast horizons. However, various specifications...
Persistent link: https://www.econbiz.de/10010395082
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Equilibrium Real Interest Rates and Secular Stagnation : An Empirical Analysis for Euro-Area Member Countries
Belke, Ansgar Hubertus - 2017
increase in heterogeneity among EU member countries since the beginning of the financial crisis, we apply our approach to 12 … Governing Council) and EU governance. Our results indicate that secular stagnation is not a significant threat to most euro …
Persistent link: https://www.econbiz.de/10012945575
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Macroeconomic Uncertainty, Growth and Inflation in the Eurozone : A Causal Approach
Plakandaras, Vasilios - 2017
In this paper, we evaluate the causal relationship between macroeconomic uncertainty indices, inflation and growth rate for 17 Eurozone countries on a county level examination. In performing a series of linear and non-linear causality tests we find little evidence of a causal relationship...
Persistent link: https://www.econbiz.de/10012945818
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Nowcasting and Forecasting Economic Growth in the Euro Area Using Principal Components
Hindrayanto, Irma - 2014
Many empirical studies have shown that factor models produce relatively accurate forecasts compared to alternative short-term forecasting models. These empirical findings have been established for different macroeconomic data sets and different forecast horizons. However, various specifications...
Persistent link: https://www.econbiz.de/10013048646