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Financial Integration and Macroeconomic Volatility: Does Financial Development Matter?

Eozenou, Patrick - 2008

. Looking at a panel of 90 countries over the period 1960-2000, we find that domestic financial conditions matter when assessing …

Persistent link: https://www.econbiz.de/10015215251

Trade Between Euro Zone and Arab Countries: a Panel Study

Harb, Nasri - 2006

We construct an aggregate data panel to estimate price and income elasticities of the Arab countries imports from and … using Pedroni's heterogeneous panel cointegration tests (2004). The panel data circumvent the problem of short span sample … and increase the power of the non stationarity tests. Then, we estimate the idiosyncratic and panel cointegrating vectors …

Persistent link: https://www.econbiz.de/10015215822

The law of one price and the role of market structure

Caglayan, Mustafa; Filiztekin, Alpay - 2012

This paper examines the role of market structure on the persistence of price deviations from the LOP using monthly actual product prices of 47 items collected from three different types of markets in Istanbul over 1993:01-2008:12. After showing the importance of market structure on the...

Persistent link: https://www.econbiz.de/10015230811

International Intertemporal Solvency in OECD Countries: Evidence From Panel Unit Root

Kalyoncu, Huseyin - 2006

advantages of panel data unit root tests. We apply the test advocated by Im, Pesaran and Shin (1997). According to estimation …

Persistent link: https://www.econbiz.de/10015259781

Social Choice and Institutionalism

Obregon, Carlos - 2023

The main thesis in this manuscript is that a social choice theory based on aggregating individual preferences and values is insufficient to confront the social choices that today’s world is facing. It is defended in here that institutions play a critical role in any social choice, and that the...

Persistent link: https://www.econbiz.de/10015214328

Foreign Exchange Interventions in the New-Keynesian Model: Policy, Transmission, and Welfare

Yakhin, Yossi - 2024

The paper introduces foreign exchange interventions (FXIs) into a standard New-Keynesian small open economy model. It solves for the optimal FXI policy, suggests an implementable policy rule, and studies the transmission mechanism of FXIs. Relying on the portfolio balance channel, deviations...

Persistent link: https://www.econbiz.de/10015214600

Foreign Exchange Interventions in the New-Keynesian Model: Policy, Transmission, and Welfare

Yakhin, Yossi - 2024

Persistent link: https://www.econbiz.de/10015214935

Twin fallacies about exchange rate policy in emerging markets

Reinhart, Carmen; Reinhart, Vincent - 2003

Two assertions about exchange rate regimes circulate with some frequency in policy circles. The first, the hypothesis of the excluded middle, holds that authorities must either choose perfectly floating exchange rates (preferably anchored by an inflation target for the central bank) or a hard...

Persistent link: https://www.econbiz.de/10015215953

Fear of floating

Reinhart, Carmen; Calvo, Guillermo - 2002

Many emerging market countries have suffered financial crises. One view blames soft pegs for these crises. Adherents to that view suggest that countries move to corner solutions--hard pegs or floating exchange rates. We analyze the behavior of exchange rates, reserves, and interest rates to...

Persistent link: https://www.econbiz.de/10015216031

Impact of the Financial Turmoil on the Romanian Capital Market

Susanu, Monica; Micu, Adrian; Micu, Angela Eliza - 2009

The unprecedented financial and economic world present turmoil is dangerously covering the Europe and Japan, coming from the USA and being more painful than the economic downturn of the ‘80s. A massive decrease of trust and confidence is also perceived by consumers and business alike, and...

Persistent link: https://www.econbiz.de/10015220268