Can extending social welfare expenditures promote economic growth? This issue has been discussed extensively, with some research pointing to net benefits while others find a net negative impact. Insight can be gained by careful analysis of several sub-questions. For example, for two countries...

The increasing attention given to global energy issues and the international policies needed to reduce greenhouse gas emissions have given a renewed stimulus to research interest in the linkages between the energy sector and economic performance at country level. In this paper, we analyse the...

The aim of this paper is to examine the determinants of probability of default for Romanian non-financial companies and to estimate the probability of default with credit scoring models. We develop six separate default models (for the following sectors: agriculture, trade, construction,...

Many methods of multivariate analysis are based on metric variables. In the case of questionnaire-based surveys qualitative data usually prevail, measured nominally or ordinal. This paper contains the discriminant analysis from data recorded from a sample of 100 respondents, with regard to:...

The objective of this paper is to gain an insight into the Greek hyperinflation that occured during the period 1941-1946. In doing so, a relatively novel data-set in conjuction with the bound testing approach to cointegration and error correction models developed within the autoregressive...

Class specific mortality in 17th and 18th Century Vienna shows a cyclical pattern which is related to grain price cycles in the 5-10 years range. This relationship is not stable over time. Applying spectral analysis based on time-varying VARs, it can be shown that at the beginning of the...

In this paper, we use the segmented conditional ICAPM (International Capital Asset Pricing Model) to study the emerging stock markets integration. To address this issue, we apply the asymmetric multivariate version of GARCH-BEKK with structural break of the variance. It allows to specify the...

En este trabajo se realiza un ejercicio de descomposición histórica de la inflación peruana a partir de un modelo VAR estructural identificado con restricciones de largo plazo. Mediante este ejercicio se estima la contribución de distintas fuentes de choques de origen doméstico y externo a...

In this paper the causality relationships between the inflationary process, experienced by the Turkish economy, and some main money supply measures have been tried to be investigated, and the direction of these relationships has also been aimed to be determined through the vector autoregression...

In this paper, we propose a Bayesian VAR model to examine the short term effects of monetary policy shocks on the Italian economy. Firstly, our BVAR model uses the Cholesky decomposition to identify four kinds of macroeconomic shocks, namely, supply, demand, interest rate and monetary shocks....