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This article analyses the impact of the establishment of the European Monetary System (EMS) on a number of macroeconomic variables, such as exchange rates, money, interest rates and prices for member countries participating in the Exchange Rate Mechanism (ERM). Instability is examined in terms...
Persistent link: https://www.econbiz.de/10005637928
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This paper analyses whether volatility changes in the real exchange rates (RERs) of the OECD industrial countries are associated with a specific nominal exchange rate regime. To that end, we examine RER behaviour during the period 1960-2003, thereby covering both the Bretton Woods system of...
Persistent link: https://www.econbiz.de/10005811162
In this paper we propose a new approach to evaluate the predictable components in stock indices using a boosting-based classification technique, and we use this method to examine causality among the three main stock market indices in the world during periods of large positive price changes. The...
Persistent link: https://www.econbiz.de/10005727287
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This paper provides an updated survey of a burgeoning literature in testing, estimation and model specification in the presence of integrated variables. Integrated variables are a specific class of non-stationary variables which seem to characterize faithfully the properties of many...
Persistent link: https://www.econbiz.de/10005215186
In this article, we propose a new approach to evaluate the predictable components in stock indices using a boosting-based classification technique, and we use this method to examine causality among the three main stock market indices in the world during periods of large positive and negative...
Persistent link: https://www.econbiz.de/10008498751
This paper attempts to determine whether or not nominal exchange rate regimes affect the volatility of bilateral and effective real exchange rates. To that end, we examine the real exchange rate behaviour for a set of OECD and non-OECD countries during the 1960-2006 period, therefore covering...
Persistent link: https://www.econbiz.de/10008551491
Using a harmonized data set for the European Union and panel data techniques, and following a production function approach, we find a positive growth effect of total social protection expenditure on growth. When evaluating the effects of different programmes, the results are mixed.
Persistent link: https://www.econbiz.de/10005140945
Persistent link: https://www.econbiz.de/10005143809