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On the Causality Between Saving and Growth: Long- and Short-Run Dynamics and Country Heterogeneity
Andersson, Björn - 1999
The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...
Persistent link: https://www.econbiz.de/10010321740
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The Asymmetric Effects of a Common Monetary Policy in Europe
Maria Caporale, Guglielmo; M. Soliman, Alaa - In: Journal of Economic Integration 24 (2009), pp. 455-475
estimating a VECM for the endogenous variables, and a stationary VAR in first differences for the exogenous variables. Our …
Persistent link: https://www.econbiz.de/10009415604
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The Macroeconomic Implications of Household Debt: An Empirical Analysis
Kim, Yun - Department of Economics, Trinity College - 2011
Multi-equation econometric frameworks are used to investigate the impact of household debt on aggregate performance in US. In the vector autoregression analysis capturing the transitory feedback effects, we observe a bidirectional positive feedback process between aggregate income and debt....
Persistent link: https://www.econbiz.de/10009643796
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Assessing the sustainability of fiscal policies: Empirical evidence from the Euro Area and the United States
Landolfo, Luigi - In: Journal of Applied Economics XI (2008) November, pp. 305-326
This paper provides a formal theoretical framework for analyzing the sustainability of fiscal policy based on the government intertemporal budget constraint, and derives conditions that determine whether a fiscal stance is sustainable in the medium and long term. In contrast to previous studies,...
Persistent link: https://www.econbiz.de/10005668902
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Investigating the Bank-Lending Channel in South Africa: A VAR Approach
Ludi, Kirsten L.; Ground, Marc - Department of Economics, Faculty of Economic and … - 2006
The monetary policy transmission mechanism can broadly be categorised into three separate channels: the interest rate channel, the credit channel and the other asset price channel. This paper seeks to examine the bank-lending channel of the credit channel of monetary policy in South Africa by...
Persistent link: https://www.econbiz.de/10005710040
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Relationship between inflation, unemployment and labor force change rate in France: cointegration test
Kitov, Ivan; Kitov, Oleg; Dolinskaya, Svetlana - Volkswirtschaftliche Fakultät, … - 2007
Johansen cointegration rank test based on a VAR representation, which is also proved to be an adequate one via a set of … are cointegrated in corresponding intervals. The VAR and vector error correction (VEC) models are estimated and provide … results obtained in the regression study. The VECM approach also allows re-estimation of the coefficients in the individual …
Persistent link: https://www.econbiz.de/10005835964
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Inflation as a function of labor force change rate: cointegration test for the USA
Kitov, Ivan; Kitov, Oleg; Dolinskaya, Svetlana - Volkswirtschaftliche Fakultät, … - 2007
considering the time lead and the existence of a cointegrating relation. VAR and VECM representations do not provide any … variety of specification tests and the Johansen cointegration rank test based on the VAR representation. Both approaches …
Persistent link: https://www.econbiz.de/10005836346
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On the Causality Between Saving and Growth: Long- and Short-Run Dynamics and Country Heterogeneity
Andersson, Björn - Nationalekonomiska Institutionen, Uppsala Universitet - 1999
The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...
Persistent link: https://www.econbiz.de/10005644590
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Firm entry and liquidity
Uuskyla, Lenno - Eesti Pank - 2007
. Various structural VAR and VECM models are exploited to identify the liquidity shock. …
Persistent link: https://www.econbiz.de/10005650110
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On the causality between saving and growth : long- and short-run dynamics and country heterogeneity
Andersson, Björn - 1999
The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...
Persistent link: https://www.econbiz.de/10011587110