We document how housing price cycles relate to broader economic cycles in terms of (i) lead-lag characteristics and (ii) causal linkages between cyclical fluctuations in house prices and cyclical fluctuations in other parts of the economy. Consistent with the findings in the extant literature,...

This paper’s goal was to look for robust evidence on the determinants of economic growth by complementing the usual parametric time series analysis with nonparametric local linear kernel regression. The evidence from the two seemingly competing approaches (parametric versus nonparametric),...

This study investigates the causal relationship between economic growth, energy consumption and CO2 emission in Australia using time series data for the period of 1965–2007. Johansen cointegration technique is employed to examine the long run relationship between economic growth, energy...

This paper analyzes the determinants of participation in the labor supply in a sample of ten Latin American countries. To this end, a VAR model is estimated with the variables economic growth, wages, unemployment and participation rate. A first section discusses the evolution and determining...

The Fiscal Responsibility and Budget Management (FRBM) Act 2003 was introduced in India in order to reduce revenue deficit by curtailing revenue expenditure. This paper examines the impact of public expenditure by type and nature on the income by constructing new data on combined capital...