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Can a growing welfare state induce a regime switch in the growth rate of an economy? This paper constructs a dynamic political economy model of economic growth and the welfare state in which both variables are non-linearly related and jointly endogenous. Using a Markov switching framework over...
Persistent link: https://www.econbiz.de/10010260719
Can a growing welfare state induce a regime switch in the growth rate of an econ-omy? This paper constructs a dynamic political economy model of economic growth and the welfare state in which both variables are non-linearly related and jointly en-dogenous. Using a Markov switching framework over...
Persistent link: https://www.econbiz.de/10004963650
Persistent link: https://www.econbiz.de/10002099269
Persistent link: https://www.econbiz.de/10002770326
Persistent link: https://www.econbiz.de/10009750725
The objective of this paper is to examine the impact of unconventional monetary policy measures adopted in developed countries (the US, UK, Euro Area and Japan) on developing economies (Brazil, China, India and Russia). First, we analyse the domestic and cross-border financial market impact of...
Persistent link: https://www.econbiz.de/10010376693
Persistent link: https://www.econbiz.de/10003235713
This paper uses Markov switching models to study short-run movements of the Polish zloty and speculative phenomena in Poland, that is, to investigate whether the exchange rate is "contaminated" by a speculative bubble. The zloty movements are examined in terms of so-called long swings - periods...
Persistent link: https://www.econbiz.de/10011436167
The paper applies an equilibrium correction model to discuss impacts of monetary, labour and external factors on the German inflation. The approach presented is of eclectic character and allows for examination which variables representative for various inflation theories matter empirically when...
Persistent link: https://www.econbiz.de/10011437880
Persistent link: https://www.econbiz.de/10013436284