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Directed graphs and variable selection in large vector autoregressive models

Bertsche, Dominik; Brüggemann, Ralf; Kascha, Christian - In: Journal of Time Series Analysis 44 (2022) 2, pp. 223-246

We represent the dynamic relation among variables in vector autoregressive (VAR) models as directed graphs. Based on these graphs, we identify so‐called strongly connected components. Using this graphical representation, we consider the problem of variable choice. We use the relations among...

Persistent link: https://www.econbiz.de/10014503621

National culture and firm financial performance: A mediating role of firm financing decision

Farooq, Umar; Ahmed, Jaleel; Ashfaq, Khurram; Khan, … - In: Cogent Business & Management 7 (2020) 1, pp. 1-21

This study unfolds the role of national culture in determining the firm financial performance through channel of corporate financial policy. Sample size consists of 7623 non-financial sector firms from 13 Asian economies and fixed-effect model applies to estimates the regression. As the findings...

Persistent link: https://www.econbiz.de/10012657314

Post-COVID-19 Asia will grow strongly in 2021 but structural problems continue to pile up

Herrero, Alicia Garcia - In: European Journal of Economics and Economic Policies: … 18 (2021) 2, pp. 240-258

2020 was a terrible year for Asia but for some countries less than for others. Countries recovered divergently with some managing to grow positively notwithstanding the pandemic, namely mainland China, Taiwan, and Vietnam. The rest of Asia had a hard time, facing problems such as current-account...

Persistent link: https://www.econbiz.de/10014363419

Some Notes on Overshooting

Homburg, Stefan - In: Zeitschrift für Wirtschafts- und Sozialwissenschaften 109 (1989) 3, pp. 443-447

"overshooting" in the Dornbusch sense. We proposed to use the interest differential between to countries as a direct and reliable … measure of the extend of overshooting. Observing that differential immediately reveals that the past appreciation of the … dollar against the mark has hardly anything to do with overshooting. …

Persistent link: https://www.econbiz.de/10010332568

Ursachen und Konsequenzen der steigenden Nahrungsmittelpreise

Erber, Georg; Petrick, Martin; von Schlippenbach, Vanessa - In: DIW Wochenbericht 75 (2008) 26, pp. 357-363

Seit Mitte 2007 sind die Preise für Grundnahrungsmittel wie Reis, Mais und Weizen bei international gehandelten Sorten dramatisch gestiegen. In welchem Umfang zu dieser Entwicklung Spekulationen an den Rohstoffmärkten beigetragen haben, lässt sich nicht beziffern. Unabhängig davon setzt eine...

Persistent link: https://www.econbiz.de/10011601842

Monetary Policy and Swedish Unemployment Fluctuations

Holmlund, Bertil; Alexius, Annika - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-4, pp. 1-25

A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle frequencies, but the effects on unemployment may well be more...

Persistent link: https://www.econbiz.de/10010295302

Monetary ease: A factor behind financial crises? Some evidence from OECD countries

Ahrend, Rudiger - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-12, pp. 1-30

This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates were persistently and significantly below...

Persistent link: https://www.econbiz.de/10010300027

News versus sunspot shocks in a New Keynesian model

Karnizova, Lilia - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-19, pp. 1-27

Separately, news and sunspot shocks have been shown empirically to be determinants of changes in expectations. This paper considers both of them together in a simple New Keynesian monetary business cycle model. A full set of rational expectations solutions is derived analytically. The analytical...

Persistent link: https://www.econbiz.de/10010300732

The accuracy of a forecast targeting central bank

Skrove Falch, Nina; Nymoen, Ragnar - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-15, pp. 1-36

This paper evaluates inflation forecasts made by Norges Bank which is a successful forecast targeting central bank. It is expected that Norges Bank produces inflation forecasts that are on average better than other forecasts, both naive forecasts, and forecasts from econometric models outside...

Persistent link: https://www.econbiz.de/10010306877

The impact of the recent global crisis on the prioritization of central banks final objectives. A structural approach in the context of Central and Eastern European states

Popescu, Iulian Vasile - In: International Journal of Economic Sciences and Applied … 7 (2014) 2, pp. 51-76

This paper aims to identify the actual objectives of monetary authorities in Central and Eastern Europe (CEE) that promote an independent monetary policy. In this sense we consider the study of central banks (CBs) behavior in the Czech Republic, Poland, Romania and Hungary in establishing...

Persistent link: https://www.econbiz.de/10011310270

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