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The Short-Run and Long-Run Effects of Trade Openness on Financial Development : Some Panel Evidence for Europe

Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2021

This paper analyses the short- and long-run effects of trade openness on financial development in a panel including …

Persistent link: https://www.econbiz.de/10013227601

Heterogeneous Autoregressions in Short T Panel Data Models

Pesaran, M. Hashem; Yang, Liying - 2023

This paper considers a ﬁrst-order autoregressive panel data model with individual-speciﬁc eﬀects and a heterogeneous …

Persistent link: https://www.econbiz.de/10014347822

A Bias-Corrected CD Test for Error Cross-Sectional Dependence in Panel Data Models with Latent Factors

Pesaran, M. Hashem; Xie, Yimeng - 2021

result is shown to hold for pure latent factor models as well as for panel regressions with latent factors. Small sample …

Persistent link: https://www.econbiz.de/10013215800

Panel Unit Root Tests in the Presence of a Multifactor Error Structure

Pesaran, M. Hashem; Smith, L. Vanessa; Yamagata, Takashi - 2021

This paper extends the cross sectionally augmented panel unit root test proposed by Pesaran (2007) to the case of a … the maximum number of factors, in contrast to other panel unit root tests based on principal components that require in … addition the estimation of the number of factors as well as the factors themselves. Small sample properties of the proposed …

Persistent link: https://www.econbiz.de/10013316613

Reflections on “Testing for Unit Roots in Heterogeneous Panels”

Im, KyungSo; Pesaran, M. Hashem; Shin, Yongcheol - 2023

This article is our personal perspective on the IPS test and the subsequent developments of unit root and cointegration tests in dynamic panels with and without cross-section dependence. In this note, we discuss the main idea behind the test and the publication process that led to Im, Pesaran...

Persistent link: https://www.econbiz.de/10014262740

Corruption and Economic Growth : New Empirical Evidence

Gründler, Klaus - 2019

The nexus between corruption and economic growth has been examined for a long time. Many empirical studies measured corruption by the reversed Transparency International's Perception of Corruption Index (CPI) and ignored that the CPI was not comparable over time. The CPI is comparable over time...

Persistent link: https://www.econbiz.de/10012861457

Monetary Policy and Asset Price Overshooting : A Rationale for the Wall/Main Street Disconnect

Caballero, Ricardo J.; Simsek, Alp - 2022

We analyze optimal monetary policy and its implications for asset prices, when aggregate demand has inertia and responds to asset prices with a lag. If there is a negative output gap, the central bank optimally overshoots aggregate asset prices (asset prices are initially pushed above their...

Persistent link: https://www.econbiz.de/10013296267

Do as Essay, Not as I Do? How Inflated List Prices of Unsold Essayer Homes Affect the Price Discovery Process

Agarwal, Sumit; Seiler, Michael J.; Siebert, Ralph - 2022

In the U.S. real estate market, around 30 percent of listed properties remain unsold. We examine whether unsold property listings exert externalities in the housing market. Our study builds on a comprehensive dataset that encompasses residential property listings in Orange County (California)...

Persistent link: https://www.econbiz.de/10014242006

What Drives Inventory Accumulation? News on Rates of Return and Marginal Costs

Görtz, Christoph - 2019

inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the …

Persistent link: https://www.econbiz.de/10012860577

The Dynamics of Finance-Growth-Inequality Nexus : Theory and Evidence for India

Das, Pranab Kumar - 2019

The purpose of this research study has been to expand our understanding of the finance-growth ‘nexus’ to finance-growth-inequality ‘nexus’ in the presence of both the formal and the informal sources of borrowing. Using empirical evidence of IHDS Survey data for two rounds the study...

Persistent link: https://www.econbiz.de/10012892155