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Exports and capacity constraints : a smooth transition regression model for six euro area countries

Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2013

Traditional specifications of export equations incorporate foreign demand as a demand pull factor and the real exchange rate as a relative price variable. However, such standard export equations have failed to explain the export performance of euro area countries during the crisis period. In...

Persistent link: https://www.econbiz.de/10010195462

Exports and capacity constraints : evidence for several euro area countries

Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2015

We argue that, under certain conditions, firms consider exports as a substitute for domestic demand. Our econometric model for six euro area countries suggests domestic demand and capacity constraints as additional variables for export equations. We apply the exponential and logistic variant of...

Persistent link: https://www.econbiz.de/10011300368

Export hysteresis, capacity constraints and uncertainty : a smooth-transition analysis for euro area member countries

Belke, Ansgar; Wagemester, Jan - 2017

We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a substitute for domestic demand. This is valid also on the macroeconomic level where the switch from the domestic market to the export market and vice versa takes place in a smooth...

Persistent link: https://www.econbiz.de/10011718600

The 1989-94 Consumption Boom in Mexico : An Analysis of Cointegration Using Regime Shifts

Gonzalez-Garcia, Jesus - 2001

if the model for the cointegration relationship between consumption and income allows regime shifts. Using Markov …

Persistent link: https://www.econbiz.de/10014132700

Cointegration and Threshold Adjustment

Enders, Walter; Siklos, Pierre L. - 2001

The Engle-Granger test for cointegration is extended by assuming that the error correction terms are asymmetric. Two … consider an application where we test for cointegration between long and short US interest rates. Conventional cointegration … testing (i.e., Engle-Granger, Johansen) concludes that interest rates are not cointegrated while we do find cointegration in …

Persistent link: https://www.econbiz.de/10014145753

Global stochastic trends in growth, interest and inflation. Is the post-Bretton-Woods era driven by the Volcker disinflation?

Heinlein, Reinhold; Krolzig, Hans-Martin - 2013

This note aims to identify the stable long-run relationships as well as unstable driving forces of the world economy using an aggregated approach involving the four largest currency blocks. The small global macromodel encompasses aggregated quarterly US, UK, Japanese and Euro Area data for the...

Persistent link: https://www.econbiz.de/10010456964

Classical identification: A viable road for data to inform structural modeling

Hammersland, Roger - 2008

This paper addresses how to enhance the role of data in structural model design by utilizing structural breaks and superfluous information as auxiliary tools of exact identification. To illustrate the procedure and to study the simultaneous interplay between financial variables and the real side...

Persistent link: https://www.econbiz.de/10011968332

Cointegration in Frequency Domain

Levy, Daniel - 2002

Existence of a cointegration relationship between two time series in the time domain imposes restrictions on the series …

Persistent link: https://www.econbiz.de/10013204725

Classical identification: A viable road for data to inform structural modeling

Hammersland, Roger - Statistisk Sentralbyrå, Government of Norway - 2008

Persistent link: https://www.econbiz.de/10004980733

The Financial Accelerator: Evidence using a procedure of Structural Model Design

Hammersland, Roger; Jacobsen, Dag Henning - Statistisk Sentralbyrå, Government of Norway - 2008

We find empirical evidence of a financial accelerator using a data based procedure of Structural Model Design. Credit to firms, asset prices and aggregate economic activity interact over the business cycle in our empirical model of a dynamic economy. Furthermore, the interdependence between...

Persistent link: https://www.econbiz.de/10004980837