Showing 1 - 10 of 145
We explore bifurcation phenomena in the open-economy New Keynesian CGG Model based on Clarida et al. (2001, 2002). We find that the open economy framework can bring about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters...
Persistent link: https://www.econbiz.de/10010636282
Opting for structural or reduced form estimation is often hard to justify if one wants to both learn about the structure of the economy and obtain accurate predictions. In this paper, we show that using both structural and reduced form estimates simultaneously can lead to more accurate policy...
Persistent link: https://www.econbiz.de/10010608295
As the Chinese economy becomes more open and the authorities scrapped the peg to the U.S. dollar in July 2005, exchange rate movements start to influence the price inflation in China in a significant way. This paper estimates a structural vector autoregression (SVAR) model to investigate the...
Persistent link: https://www.econbiz.de/10010738000
The 2007–2008 US subprime mortgage crisis evolved into a financial crisis that negatively affected many economies in the world and was afterwards widely referred to as the global financial crisis. Since the beginning of this financial crisis of 2008–2009, South Africa experienced a...
Persistent link: https://www.econbiz.de/10010738002
This paper studies the nonlinear adjustment between industrial production and carbon prices – coined as ‘the carbon-macroeconomy relationship’ – in the EU 27. We model carbon price returns and industrial production as nonlinear and state-dependent, with dynamics depending on the sign and...
Persistent link: https://www.econbiz.de/10010577077
In this paper, the monetary policy independence of European nations in the years before European Economic and Monetary Union (EMU) is investigated using cointegration techniques. Daily data is used to assess pairwise relationships between individual EMU nations and ‘lead’ nation Germany, to...
Persistent link: https://www.econbiz.de/10011048900
This article tests the relationship between openness and income inequality in openness Kuznets curve framework. The Auto Regressive Distributed Lag (ARDL) estimator is employed to establish the long run relationship between openness and income inequality. We add to the literature by noting that...
Persistent link: https://www.econbiz.de/10010573312
inequality and poverty measures. (2) We show how it can be estimated from grouped data using GMM. (3) Using grouped data from ten …
Persistent link: https://www.econbiz.de/10010738031
Applying GMM (Arellano and Bond, 1991) to panel data of 90 countries spanning over 1992–2006, this paper explores …
Persistent link: https://www.econbiz.de/10010577127
GMM, validated and used for deterministic simulation analyses. Finally the validated model is used to critically analyze …
Persistent link: https://www.econbiz.de/10010597523