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The nonlinearity of the new Keynesian Phillips Curve: The case of Tunisia

Kobbi, Imen; Gabsi, Foued-Badr - In: Economies 5 (2017) 3, pp. 1-12

This article seeks to check the nonlinearity of the Phillips curve in Tunisia for the 1993-2012 period, relying on a …

Persistent link: https://www.econbiz.de/10012009778

Nonlinear monetary policy rules: An essay in the comparative study on Egyptian and Tunisian central banks

Baaziz, Yosra; Labidi, Moez - In: Economies 4 (2016) 2, pp. 1-18

The purpose of this paper is to evaluate the behavior of monetary authorities in Tunisia and Egypt, in response to changes in macroeconomic variables over time based on LSTR model. In this sense, we estimate Taylor-type equations for short-term interest rate in Tunisia and Egypt using quarterly...

Persistent link: https://www.econbiz.de/10011708720

Monetary policy and speculative stock markets

Boehl, Gregor - 2017

Financial market interactions can lead to large and persistent booms and recessions. Instability is an inherent threat to economies with speculative financial markets. A central bank's interest rate setting can amplify the expectation feedback in the financial market and this can lead to...

Persistent link: https://www.econbiz.de/10011781871

Nonlinear Cointegration, Misspecification and Bimodality

Medeiros, Marcelo C.; Mendes, Eduardo; Oxley, Les - 2010

We show that the asymptotic distribution of the ordinary least squares estimator in a cointegration regression may be bimodal. A simple case arises when the intercept is erroneously omitted from the estimated model or in nonlinear-in-variables models with endogenous regressors. In the latter...

Persistent link: https://www.econbiz.de/10011807401

Nonlinearity between the Shadow Economy and Level of Development

Wu, Dong Frank; Schneider, Friedrich - 2019

This paper is the first attempt to directly explore the long-run nonlinearity of the shadow economy. Using a dataset of …

Persistent link: https://www.econbiz.de/10012059115

Income inequality, redistributive preferences and the extent of redistribution: An empirical application of optimal tax approach

Tanninen, Hannu; Tuomala, Matti; Tuominen, Elina - 2018

We examine empirically the relationship between the extent of redistribution and the components of the Mirrlees framework, with a focus on inherent inequality and government's redistributive preferences. We have constructed our income distribution variables from the Luxembourg Income Study (LIS)...

Persistent link: https://www.econbiz.de/10012060327

The nonlinearity of the Phillips curve and European monetary policy

Pyyhtiä, Ilmo - 1999

and with country-specific models.The results give a clear indication of nonlinearity of the Phillips curve in many euro … of the Phillips curve.The policy implication of nonlinearity is clear.The costs of unduly expansive monetary policy could … be high in the euro area in the medium term.Nonlinearity also means that inflation pressure in the euro area is dependent …

Persistent link: https://www.econbiz.de/10012147779

Studies in time series analysis of consumption, asset prices and forecasting

Takala, Kari - 2001

Sisällysluettelo: Kari Takala Studies in time series analysis of consumption, asset prices and forecasting 11 Kari Takala The consumption function in Finland revisited; An error-correction model for Finnish consumption 37 Kari Takala Excess sensitivity testing of consumption with Finnish data 79...

Persistent link: https://www.econbiz.de/10012148886

Nonlinear relationship between exchange rate volatility and economic growth

Phiri, Andrew - 2018

In this paper, we challenge the traditional assumption of a linear relationship between exchange rate volatility and economic growth in South Africa. By using data collected from 1970 to 2016 applied to a smooth transition regression (STR) model, we are able to prove that the exchange...

Persistent link: https://www.econbiz.de/10012157206

Empirical investigation of purchasing power parity for Turkey: Evidence from recent nonlinear unit root tests

Yildirim, Dilem - In: Central Bank Review (CBR) 17 (2017) 2, pp. 39-45

This study explores the empirical validity of the purchasing power parity (PPP) hypothesis between Turkey and its four major trading partners, the European Union, Russia, China and the US. Accounting for the nonlinear nature of real exchange rates, we employ a battery of recently developed...

Persistent link: https://www.econbiz.de/10012217553