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This paper studies to what extent the diversity of exchange rate regimes within Mercosur exerts an influence on the feasibility of a monetary union in this area. A semi-structural VAR model is built for each country, including a set of international and domestic variables. Based on impulse...
Persistent link: https://www.econbiz.de/10008791736
Monetary integration in Mercosur processed in a context of strong macroeconomic volatility. This paper analyzes the feasibility of a monetary union within this zone. Instead of taking in account all the criteria of the optimal currencies areas, this study focuses on the macroeconomic cycles in...
Persistent link: https://www.econbiz.de/10008791827
This paper analyses the feasibility of a monetary union within the Mercosur, focusing on cycle synchronicity. Three questions are addressed, concerning respectively the features of shocks hitting each member, the impact of exchange rate regime differences on countries' responses and the share of...
Persistent link: https://www.econbiz.de/10008793162
-being responds negatively (positively) to an increase in the GDP (unemployment rate) of their home country. That is, we originally …
Persistent link: https://www.econbiz.de/10010933917
Domestic Product (GDP) modelling in order to improve the forecasting accuracy. Our approach is based on multivariate k … compute the quarter GDP on the Euro-zone, comparing our approach, with GDP obtained when we estimate the monthly indicators …
Persistent link: https://www.econbiz.de/10010549081
Domestic Product (GDP) modelling in order to improve the forecasting accuracy. Our approach is based on multivariate k … compute the quarter GDP on the Euro-zone, comparing our approach, with GDP obtained when we estimate the monthly indicators …
Persistent link: https://www.econbiz.de/10010603648
, with parametric VAR modelling is conducted on the euro area GDP. Using both methods for nowcasting and forecasting the GDP …
Persistent link: https://www.econbiz.de/10010603668
, with parametric VAR modelling is conducted on the euro area GDP. Using both methods for nowcasting and forecasting the GDP …
Persistent link: https://www.econbiz.de/10010603674
Using the French annual database (1950-2009), we conducted a time-series analysis to explain the role of GDP per capita …-term economic relationship between HCE and GDP, controlling for price effect, population ageing, innovation proxy and medical … density. We show that the non-linearity of the long-run relationship between HCE and GDP comes from both the presence of a …
Persistent link: https://www.econbiz.de/10010899827
inflation, both as an objective and as an intermediate instrument. We want to show that other variables like employment can be … that they can be function of employment only, which then dominates inflation for use in the policy rule. …
Persistent link: https://www.econbiz.de/10010929093