heterogeneous panel vector-autoregression model identified through factor analysis, to study the dynamic response of exports …, imports, and per capita GDP growth to a global aid shock (the common component of individual country aid-to-GDP ratios). We … find that the estimated cumulative resposive of exports and per capita GDP growth to a global aid shock are strongly …

dynamic panel data models. In particular, in our model the long-run relationship between effective exchange rates and domestic … rather strong support for purchasing power parity in environments of limited negative net foreign asset to GDP positions …

using time series data from 1980 to 2004. We first estimate a panel data model (using fixed and random effects) for the real … of real exchange rate misalignment using panel cointegration methods. The variables used in our real exchange rate models … are: real per capita GDP; net foreign assets; terms of trade and government consumption. The results for the two …