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The Measurement of Policy Effects in a Non-Causal Model: An Application to Economic Policy in the UK, 1974-79
Artis, Michael J; Bladen-Hovell, Robin; Ma, Yue - C.E.P.R. Discussion Papers - 1991
There is a well-established methodology for measuring the effects of economic policy in a model that is `causal' or backward-looking. In this paper a complementary methodology is described for the case in which the model is `non-causal' or forward-looking. The methodology is then applied to an...
Persistent link: https://www.econbiz.de/10005281389
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Business Cycle Synchronization Since 1880
Artis, Michael J; Chouliarakis, George; Harischandra, PKG - C.E.P.R. Discussion Papers - 2011
This paper studies the international business cycle behaviour across 25 advanced and emerging market economies for which 125 years of annual GDP data are available. The picture that emerges is more fragmented than the one drawn by studies that focused on a narrower set of advanced market...
Persistent link: https://www.econbiz.de/10009003371
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Globalization and Business Cycle Transmission
Artis, Michael J; Okubo, Toshihiro - C.E.P.R. Discussion Papers - 2008
separate periods, those of the first globalization wave (1870 to 1914), the period of the “bloc economy” (1915 to 1959) and for … the period of the second globalization (1960-2001). Cluster analysis is applied and the McNemar test is used to test for … that features some well-defined sub-global clusters, where the second globalization period does not, the first …
Persistent link: https://www.econbiz.de/10005792022