The first essay introduces a Bayesian logistic smooth transition vector autoregression (LSTVAR) approach to investigating the impact of international business cycles on the UK economy. We find that the British business cycle is asymmetrically influenced by growth in the US, France and Germany....

The first essay attempts to explain how the economy responds to transient exogenous exchange rate and cost-push shocks using a small open economy New Keynesian dynamic general equilibrium model that incorporates prices and wage stickiness and cost channel of interest rate to inflation. The model...

This thesis investigates impacts of oil price on monetary policy in oil-exporting countries.The second chapter reviews the forward-looking new Keynesian model, to show the need for credibility and conservativeness in order to have less inflation, which are the theoretical foundations of central...

In the literature, many statistical models have been used to investigate the existence of a deterministic time trend, changing persistence and nonlinearity in macroeconomic and financial data. Good understanding of these properties in a univariate time series model is crucial when making...

In this paper we examine several approaches to detecting changes in the adjustment coefficients in cointegrated VARs. We adopt recursive and rolling techniques as mis-specification tests for the detection of non-constancy and the estimation of the breakpoints. We find that inspection of the...

In this paper we empirically analyse the factors which determined consumer credit in Greece in the period before and after the financial liberalisation, while accounting for significant changes in structure due to the lifting of credit restrictions and the subsequent impressive boom of consumer...

Utilizing neoclassical growth framework augmented with institutional controls and latest estimation technique in panel data analysis, this study identifies the crucial institutional qualities in East Asian and other developing countries and uncovers the channel of their effects toward economic...

This study augments a standard growth model with institutional controls, and models the spatial dependence using geographical and institutional weight matrices. Spatial Durbin model is shown to be the most appropriate to describe the data and political institutions weight matrix best explains...

Do institutions spatially affect growth? By employing a neoclassical growth model with institutional controls and augmenting the model with a formal spatial framework, this study finds evidence that institutions has spatial spillover effect on economic growth based on a panel observation from 58...

Despite the extensive literature on the relationship between financial development (FD) and economic growth, previous studies have largely overlooked the potential spatial interdependence between countries. To address this gap, this paper employs spatial Durbin estimation that explicitly...