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Macroeconomic stability and the real interest rate: A cross-country analysis

Groth, Charlotta; Zampolli, Fabrizio - 2010

We construct a measure of the short-term world interest rate using principal component analysis. Drawing on real … interest rate data for 18 OECD countries for the period 1985 - 2008, persistent deviations from the world interest rate that … that a rise in conditional consumption growth volatility relative to the rest of the world reduces the foreign exchange …

Persistent link: https://www.econbiz.de/10010285855

What determines the finance-growth nexus? An endogenous growth model and empirical evidence

Graff, Michael; Karmann, Alexander - 2003

An endogenous growth model on finance and growth is formulated, and empirical analyses are conducted. The model exhibits structural shifts and breaks caused by institutional changes, suggesting that a linear approach is inadequate. To address this point empirically, we fit data for 90 countries...

Persistent link: https://www.econbiz.de/10010285889

The impact of globalization on the composition of government expenditures: Evidence from panel data

Dreher, Axel; Sturm, Jan-Egbert; Ursprung, Heinrich W. - 2006

According to the disciplining hypothesis, globalization restrains governments by inducing increased budgetary pressure. As a consequence, governments shift their expenditures in favour of transfers and subsidies and away from capital expenditures. This expenditure shift is potentially enhanced...

Persistent link: https://www.econbiz.de/10010285894

Signal extraction: How (in)efficient are model-based approaches?An empirical study based on TRAMO/SEATS and census X-12-ARIMA

Wildi, Marc; Schips, Bernd - 2004

Estimation of signals at the current boundary of time series is an important task in many practical applications. In order to apply the symmetric filter at current time, model-based approaches typically rely on forecasts generated from a time series model in order to extend (stretch) the time...

Persistent link: https://www.econbiz.de/10010285897

Finanzielle Entwicklung und wirtschaftliches Wachstum: Eine Mehrwellen-Pfadanalyse

Graff, Michael - 2002

Persistent link: https://www.econbiz.de/10010285943

Hochschulbildung und Wirtschaftswachstum: Neue empirische Ergebnisse

Graff, Michael - 2002

Persistent link: https://www.econbiz.de/10010285955

Solicited and unsolicited credit ratings: A global perspective

Poon, Winnie P. H.; Chan, Kam C. - 2010

We conducted a global study of the long-term issuer ratings of nonfinancial firms from Standard and Poor's Ratings Services (S&P) for the period 1998-2003. Specifically, we focused on the solicited versus unsolicited ratings and sample-selection bias in the analysis. Unlike the literature, we...

Persistent link: https://www.econbiz.de/10010286082

Macroeconomic impacts of foreign exchange reserve accumulation: Theory and international evidence

Fukuda, Shin-ichi; Kon, Yoshifumi - 2010

investment and economic growth. We provide empirical support for our theoretical analysis using panel data from the Penn World …

Persistent link: https://www.econbiz.de/10010286085

The political economy of reducing the United States dollar's role as a global reserve currency

Yap, Josef T. - 2011

the world economy. This matter is settled by arguing that the global imbalances acted as a handmaiden to the 2008 …

Persistent link: https://www.econbiz.de/10010286089

Market failures and regulatory failures: Lessons from past and present financial crises

Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - 2011

The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...

Persistent link: https://www.econbiz.de/10010286114