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This article aims at estimating leading indicators of the American economy with financial variables. We use two types of hidden Markov chains models, a quantitative one (Krolzig (1997)) and a qualitative one (Gregoir and Lenglart (2000)). These models provide a robust and reliable framework to...
Persistent link: https://www.econbiz.de/10005056509
The Central Bank of Congo (BCC) lowered policy rate in response to uncertainty surrounding COVID-19. The impact of the pandemic on the economy is uncertain and depends on several factors. This cut in the policy rate would not help the economy to limit the fallout from COVID-19, so we should...
Persistent link: https://www.econbiz.de/10015252446
This article puts forward a framework based primarily on probabilistic tools to analyse the nature of housing loan cycles in France. The continued high growth rate of housing loans may indeed raise concerns as to the duration and determinants of the cycle which currently prevails. The results...
Persistent link: https://www.econbiz.de/10004998836
Aux États-Unis, l’information issue des séries financières, qui reflètent les anticipations des agents basées sur l’information économique disponible, permet de bien prévoir la survenance de retournements conjoncturels.
Persistent link: https://www.econbiz.de/10009220164
We use a French firm-level panel data set over the period 1993-2004 to analyze the relationship between credit …&D investment over total investment is countercyclical without credit constraints, but it becomes more procyclical as firms face … tighter credit constraints; (ii) the result is magnified for firms in sectors that depend more heavily upon external finance …
Persistent link: https://www.econbiz.de/10008528504
India has created the basic rules of modern economic and political life. While the country’s institutional framework needs strengthening, it will allow India to prosper without drastic changes. Gradual economic reform has transformed India, putting it on a much faster growth path. Economic...
Persistent link: https://www.econbiz.de/10005518987
This article examines the effect of remittances on economic growth, highlighting the main transmission channels. Using the SGMM method, estimates based on data from 27 developing countries show that remittances have a positive and significant effect on economic growth. The results don’t allow...
Persistent link: https://www.econbiz.de/10009195605
This chapter presents the methods and contributions of evolutionary approach to economic dynamics. First, we expose why economic dynamics can indeed be considered as evolutionary. Second, we discuss sources of diversity and selection mechanisms that drive these dynamics, in the context of...
Persistent link: https://www.econbiz.de/10008469690
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