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We use a Monte Carlo approach to investigate the performance of several different methods designed to reduce the bias of the estimated coefficients for dynamic panel data models estimated with the longer, narrower panels typical of macro data. We find that the bias of the least squares dummy...
Persistent link: https://www.econbiz.de/10014179218
We by this paper assess the risk investor's face by way of operating Bitcoin exchanges, which however convert Bitcoins into hard currency. We examine the cause of closure of these exchanges and what investors should look for as well as the path to take in investing in an exchange
Persistent link: https://www.econbiz.de/10012916651
In the evident of globalised world economy and changing economic structure, the traditional policies are required to be close examination. This is true particularly in case of developing countries, like India where new economic policies have had been changing visibly since 1990s. Therefore, in...
Persistent link: https://www.econbiz.de/10012917642
For more than half a century, Manfred Deistler has been contributing to the construction of the rigorous theoretical foundations of the statistical analysis of time series and more general stochastic processes. Half a century of unremitting activity is not easily summarized in a few pages. In...
Persistent link: https://www.econbiz.de/10013533262
Since little is known about the degree of bias in estimated fixed effects in panel data models, we run Monte Carlo simulations on a range of different estimators. We find that Anderson-Hsiao IV, Kiviet's bias-corrected LSDV and GMM estimators all perform well in both short and long panels....
Persistent link: https://www.econbiz.de/10013325234
In this paper we propose to use the common trends of the Mexican economy in order to predict economic activity one and two steps ahead. We exploit the cointegration properties of the macroeconomic time series, such that, when the series are I(1) and cointegrated, there is a factor...
Persistent link: https://www.econbiz.de/10011885720
We establish that the Phillips curve is persistence-dependent: inflation responds differently to persistent versus moderately persistent (or versus transient) fluctuations in the unemployment gap. Previous work fails to model this dependence, so it finds numerous “inflation puzzles”—such...
Persistent link: https://www.econbiz.de/10012849133
Structural vector autoregressive analysis aims to trace the contemporaneous linkages among (macroeconomic) variables back to underlying orthogonal structural shocks. In homoskedastic Gaussian models the identification of these linkages deserves external and typically notdata-based information....
Persistent link: https://www.econbiz.de/10012866833