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testing approach to cointegration is employed to test the causal relationship between industrial production, exports and terms … of trade. An augmented form of Granger causality analysis is implemented to identify the direction of relationship among … exports to industrial production. …
Persistent link: https://www.econbiz.de/10011523113
This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model features a forward-looking benevolent government that needs to decide the optimal fiscal stance given the level of public debt, the cyclical position of the economy, and...
Persistent link: https://www.econbiz.de/10012108360
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Persistent link: https://www.econbiz.de/10011795129
Although the link between oil prices and dollar exchange rates has been frequently analyzed, a clear distinction between prices and nominal exchange rate dynamics and a clarification of the issue of causality has not been provided. In addition, previous studies have mostly neglected...
Persistent link: https://www.econbiz.de/10009771139
A method for analyzing productivity convergence based on frontier production functions is proposed. It is examined whether departures from the frontier - country-level inefficiencies - exhibit long-run relationships and convergence. The method is applied to 1-digit industries of 14 OECD...
Persistent link: https://www.econbiz.de/10010466017
Persistent link: https://www.econbiz.de/10000967570
A shortcoming of most empirical studies on aggregate exports is their exclusive focus on the demand side. Moreover, the … vector error correction model is the appropriate econometric framework. Using the Johansen procedure, two cointegration …
Persistent link: https://www.econbiz.de/10011474729
Ukrainian exports can be explained by standard demand theory in the long run. Using the Johansen procedure the data do … not reject the hypothesis of a unit foreign-production elasticity of Ukrainian exports, which are rather price … hryvnia there might be a deterministic element in the long-run relationships. When allowing for a trend in the co­integration …
Persistent link: https://www.econbiz.de/10011476237
exports value. The results suggest that a hard landing of the Chinese economy to its 'new normal' would doubtless send shock …
Persistent link: https://www.econbiz.de/10011564548