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appointments of regional officials in Russia and China before and after 2012. We hypothesize that, as a consequence of the … centralization and personalization of state power in both regimes over the past decade, Russia’s system for appointing regional … from 2000 through 2019 in Russia. We discern clear differences between the pre- and post-2012 period for China and less …
Persistent link: https://www.econbiz.de/10014091525
The ‘saving for a rainy day’ hypothesis implies that households’ saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...
Persistent link: https://www.econbiz.de/10010531814
operandi to analyze the time series characteristics of interest rates and to test for common features. We conduct cointegration …
Persistent link: https://www.econbiz.de/10010264545
debt and its ratio to GDP. Second, exploiting unit root analysis and cointegration, we test for the sustainability of …
Persistent link: https://www.econbiz.de/10010281948
monthly) are analysed using fractional integration and fractional cointegration methods. Further, recursive cointegration … exhibit long memory. There is cointegration between the ASEAN five and the US but almost none between the former and China …
Persistent link: https://www.econbiz.de/10012891049
This paper applies fractional integration and cointegration methods to examine respectively the univariate properties …
Persistent link: https://www.econbiz.de/10014239604
22 stock indices are analysed applying fractional integration/cointegration methods to daily data, first for a sample …
Persistent link: https://www.econbiz.de/10014241989
This note examines the stochastic behaviour of US monthly 10-year government bond yields. Specifically, it estimates a fractional integration model suitable to capture both persistence and non-linearities, these being two important properties of interest rates. Two series are analysed, one from...
Persistent link: https://www.econbiz.de/10013314848
interest rates in Russia and the USA) on the MOEX Russia Index over long time interval from 2003 to 2018. The analysis of the … fundamental factors which are probably caused by the structural instability revealed earlier in Russia and other stock markets …
Persistent link: https://www.econbiz.de/10012861490
We estimate the effect of the Russian University excellence program (Project 5-100) initiated by the Government in 2013 on research performance of top Russian universities which received, on a competitive basis, substantial financial support within this program. To do so we use an econometric...
Persistent link: https://www.econbiz.de/10012870029