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Exponent of cross-sectional dependence: Estimation and inference

Bailey, Natalia; Kapetanios, George; Pesaran, Hashem - 2012

An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...

Persistent link: https://www.econbiz.de/10010282124

Exchange Rate Volatility and Employment Growth : Empirical Evidence from the CEE Economies

Belke, Ansgar; Setzer, Ralph - 2004

highlights the fact that high exchange rate volatility may as well signal high costs for labor markets. The impact of exchange … rate volatility on labor markets in the CEECs is analyzed, finding that volatility vis?- vis the euro significantly lowers … employment growth. Hence, the elimination of exchange rate volatility could be considered as a substitute for a removal of …

Persistent link: https://www.econbiz.de/10010261804

How do trade and financial integration affect the relationship between growth and volatility?

Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2006

as conventional wisdom that output volatility and growth are negatively correlated. We reexamine this relationship in the … negative association between growth and volatility has been preserved during the 1990s, both trade and financial integration … volatility and trade integration is significantly positive. We find a similar, although less significant, result for the …

Persistent link: https://www.econbiz.de/10010268058

China's emergence in the world economy and business cycles in Latin America

Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2011

The international business cycle is very important for Latin America's economic performance as the recent global crisis vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission mechanism of...

Persistent link: https://www.econbiz.de/10010278334

China's Emergence in the World Economy and Business Cycles in Latin America

Cesa-Bianchi, Ambrogio; Pesaran, Hashem; Rebucci, Alessandro - Institute for the Study of Labor (IZA) - 2011

The international business cycle is very important for Latin America’s economic performance as the recent global crisis vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission mechanism of...

Persistent link: https://www.econbiz.de/10009225765

CEO turnover, firm performance and enterprise reform in China: evidence from new micro data

Kato, Takao; Long, Cheryl - 2006

Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find consistently for all performance measures including both stock...

Persistent link: https://www.econbiz.de/10010274393

The dynamics of entrepreneurship: hysteresis, business cycles and government policy

Congregado, Emilio; Golpe, Antonio A.; Parker, Simon C. - 2009

This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of...

Persistent link: https://www.econbiz.de/10010276150

Are drone strikes effective in Afghanistan and Pakistan? On the dynamics of violence between the United States and the Taliban

Jaeger, David A.; Siddique, Zahra - 2011

Strikes by unmanned aerial vehicles, or drones, have been the primary weapon used by the United States to combat the Taliban and Al-Qaeda in Afghanistan and Pakistan. This paper examines the dynamics of violence involving drone strikes and the Taliban/Al-Qaeda in Afghanistan and Pakistan from...

Persistent link: https://www.econbiz.de/10010286855

Identifying regional labor demand shocks using sign restrictions

Juessen, Falko; Linnemann, Ludger - 2012

We propose using sign restrictions to identify regional labor demand shocks in a panel VAR of US federal states. Observed migration responds significantly, but less persistently than the residual-based migration measure constructed by Blanchard and Katz (1992).

Persistent link: https://www.econbiz.de/10010287601

Private information, human capital, and optimal 'home bias' in financial markets

Ehrlich, Isaac; Shin, Jong Kook; Yin, Yong - 2011

By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or home bias, from what standard finance models predict. Our model ascribes the bias to...

Persistent link: https://www.econbiz.de/10010286893