This study examines Taiwan’s monetary policy reaction function based on an extended Taylor rule including the exchange rate, the stock price, and the lagged interest rate. The VAR model is employed to consider simultaneous relations among the endogenous variables. Two major monetary policy...

The empirical literature on interest rate transmission presents diverse and sometimes conflicting estimates. By discussing methodological and specification-related issues, the results of this paper contribute to the understanding of these differences. Eleven Austrian bank lending and deposit...

Este documento analiza la dinámica de los Recibos de Deposito Americanos (ADR) de un banco colombiano (Bancolombia) en relación con los factores que inciden en su precio (precio de las acciones (preferenciales) subyacentes, la tasa de cambio y el índice del mercado accionario de Estados...

The identification of a VAR requires differentiating between correlation and causation. This paper presents a method to deal with this problem. Graphical models, which provide a rigorous language to analyze the statistical and logical properties of causal relations, associate a particular set of...

This paper studies the dynamics of land-use in the Brazilian Amazon using a structural vector autoregressive (SVAR) model. A fixed effect panel data specification is used to control for the heterogeneity in the data. Meanwhile, spatial autocorrelation is also diagnosed by a statistical...

This study attempts to examine the long run and short run dynamics of external debt and economic growth in Pakistan. For this purpose, we employed the Johansen cointegration test and Granger causality test. The empirical analysis cover the study span from 1980 to 2010, shows the evidence of long...

The United States (US) economic recession has considerably affected employment among its immigrant Hispanic community, and as a consequence, remittances to Central America have plunged more than in any other region in the world. This paper provides evidence that the US housing crisis and the...