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Reverse causality in global current accounts
Schnabl, Gunther; Freitag, Stephan - 2010
The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by current account surpluses of countries stabilizing...
Persistent link: https://www.econbiz.de/10003973544
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Fiscal policy, trigger points and interest rates : additional evidence from the US
Reitschuler, Gerhard; Sendlhofer, Rupert - 2011
We empirically investigate whether the relationship between interest rates and public deficits/debt may be nonlinear for the U.S. Using threshold estimation, we find evidence of level-dependent effects on interest rates, implying a significant effect of projected deficits and debt in the U.S....
Persistent link: https://www.econbiz.de/10009737516
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Subsampling Hypothesis Tests for Nonstationary Panels with Applications to Exchange Rates and Stock Prices
Choi, In; Chue, Timothy K. - 2005
This paper studies subsampling hypothesis tests for panel data that may be nonstationary, cross-sectionally correlated … the tests without estimating nuisance parameters. The tests include panel unit root and cointegration tests as special … shown that subsampling provides asymptotic distributions that are equivalent to the asymptotic distributions of the panel …
Persistent link: https://www.econbiz.de/10014027534
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Fiscal Taylor rules in the postwar United States
Reicher, Christopher Phillip - 2009
Recent research and events have brought fiscal policy back into the spotlight. Fiscal Taylor rules and error correction models have represented two different ways of quantifying the feedbacks from fiscal and economic conditions to fiscal policy decisions. This paper synthesizes these two ideas,...
Persistent link: https://www.econbiz.de/10003827185
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The analysis of budget rules and macroeconomic implications in several developed economies
Florin, Popescu Răzvan; Sergiu, Prodan - In: Budgetary research review : BRR 2 (2010) 1, pp. 60-91
countries in order to reveal if there were effects from the recession periods. The numeric part was made using panel data from …
Persistent link: https://www.econbiz.de/10009611986
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U.S. Foreign Trade, the Budget Deficit and Strategic Policy Problems : A Background Brief
Godley, Wynne - 1998
If the U.S. trade deficit remains around its present level for a few more years it will generate an exploding growth in overseas indebtedness which will imperatively demand correction at some stage. The longer the correction is postponed, the more intractable the problem will become both for the...
Persistent link: https://www.econbiz.de/10014055267
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Fiscal policy, trigger points and interest rates: Additional evidence from the U.S.
Reitschuler, Gerhard; Sendlhofer, Rupert - 2011
We empirically investigate whether the relationship between interest rates and public deficits/debt may be nonlinear for the U.S. Using threshold estimation, we find evidence of level-dependent effects on interest rates, implying a significant effect of projected deficits and debt in the U.S....
Persistent link: https://www.econbiz.de/10010294827
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Fiscal Taylor rules in the postwar United States
Reicher, Christopher Phillip - 2009
Recent research and events have brought fiscal policy back into the spotlight. Fiscal Taylor rules and error correction models have represented two different ways of quantifying the feedbacks from fiscal and economic conditions to fiscal policy decisions. This paper synthesizes these two ideas,...
Persistent link: https://www.econbiz.de/10010276372
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Analysis of factors determining global payment imbalances in 2000-2019
Twarowska-Mól, Katarzyna; Twarowska-Ratajczak, Małgorzata - In: European research studies 24 (2021) 4B, pp. 455-478
Persistent link: https://www.econbiz.de/10012806172
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The Long Run Impact of Entrepreneurship and Government Deficit on Stock Prices - An Empirical Analysis for Western European Countries (1990-2006)
Georgiou, Miltiades N. - 2010
In the present paper author will try to point out that government debt as a percentage of GDP has a negative impact on stock prices in the long run, while entrepreneurial caliber has a positive effect on stock prices in the long run. Data are annual and cover Western European economies for the...
Persistent link: https://www.econbiz.de/10013146987