The paper has examined the impact of both internal and external factors on the net inflation in the Czech Republic in the time horizon 1995:1 - 2000:12. The framework of the analysis are the extended Phillips curve models. Cross correlograms of stationary data (first differences of year-on-year...

Despite the commonly held belief that aggregate data display short-run comovement, there has been little discussion about the econometric consequences of this feature of the data. We use exhaustive Monte-Carlo simulations to investigate the importance of restrictions implied by common-cyclical...

In this paper, the concept of Income Satisfaction Inequality is operationalized on the basis of individual responses to an Income Satisfaction question posed in the German Socio-Economic Panel (GSOEP). Income satisfaction is the subjective analogue of the objective income concept and includes...

Does financial system of South Asian countries perform a passive role in economic growth? Can we specify any particular channel that can boost economic development more efficiently? Does the intra and interrelationship among the major segments of financial system point to any change in the...

This paper investigates how explicit structural shocks that characterize the endogenous character of oil price changes affect stock-market returns in a sample of eight countries – Australia, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. For each country, the...