Regime-switching empirical similarity model: a comparison with baseline models [0.03%]
制度转换经验相似模型：与基准模型的比较
Jamol Bahromov
Jamol Bahromov
In this paper, I extend the standard specification of the empirical similarity (ES) model of Gilboa et al. (Rev Econ Stat 88:433-444, 2006) to account for changes in parameters. I implement this by allowing for a combination of component ES...
Globalization, long memory, and real interest rate convergence: a historical perspective [0.03%]
全球化、长期记忆和实际利率趋同：历史视角
Giorgio Canarella,Luis A Gil-Alana,Rangan Gupta et al.
Giorgio Canarella et al.
This paper investigates whether the real interest rate parity (RIRP) is valid during the three waves of globalizations that occurred in the last 150 years (1870-1914, 1944-1971, 1989 to the present). If any, these periods should favor RIRP,...
Nonlinear nexus between corruption and tourism arrivals: a global analysis [0.03%]
腐败与旅游业抵达的非线性关系：全球视角分析
Krambia-Kapardis Maria,Stylianou Ioanna,Demetriou Salomi
Krambia-Kapardis Maria
The relationship between corruption and tourism has been sporadically examined over the years. According to the existing theory, there is an inverted U relationship which implies that tourism demand initially increases as corruption increas...
The ever-evolving trade pattern: a global VAR approach [0.03%]
不断变化的贸易格局：一种新的全球VAR方法分析国际贸易动态及中国的崛起影响
Razieh Zahedi,Asghar Shahmoradi,Ali Taiebnia
Razieh Zahedi
This paper focuses on the spillover dynamics of shocks originating in China during the last two decades. More specifically, the paper compares the effects of a shock to China's GDP and exchange rate using early 2000s trade patterns with tho...
Christina Anderl,Guglielmo Maria Caporale
Christina Anderl
This paper investigates the PPP and UIP conditions by taking into account possible nonlinearities as well as the role of Taylor rule deviations under alternative monetary policy frameworks. The analysis is conducted using monthly data from ...
The impact of commodity price volatility on fiscal balance and the role of real interest rate [0.03%]
商品价格波动对财政平衡的影响及实际利率的作用
Monoj Kumar Majumder,Mala Raghavan,Joaquin Vespignani
Monoj Kumar Majumder
The objective of this study is to explore the impact of commodity price volatility on the governments' fiscal balance. Using a dynamic panel data model for 108 countries from 1993 to 2018, this study finds that governments' fiscal balance d...
Nonlinear responses of consumption to wealth, income, and interest rate shocks [0.03%]
财富、收入和利率冲击下的消费非线性响应
Yener Coskun,Nicholas Apergis,Esra Alp Coskun
Yener Coskun
Nonlinear adjustments of consumption to housing prices, stock prices, income, and interest rates were investigated by employing panel data from 25 countries, spanning the period 2000 to 2016. This is the first study which STAR family models...
Combination of economic policies: how the perfect storm wrecked the Brazilian economic growth [0.03%]
经济政策的合成效果——完美风暴是如何破坏巴西经济增长的
Helder Ferreira de Mendonça,Iven da Silva Valpassos
Helder Ferreira de Mendonça
This study uses a counterfactual analysis to investigate, from the Brazilian experience, the "perfect storm" resultant from the combination of economic policies on economic growth. Specifically, we analyze whether the combination of economi...
Raisul Islam,Vladimir Volkov
Raisul Islam
We propose a novel risk measure that is built on comparing high-frequency time-varying volatility and low-frequency return spillover estimates. This measure permits to identify the markets that are epidemic in their complex interdependence....
Gustavo A Marrero,Luis Servén
Gustavo A Marrero
The consequences of poverty and inequality for growth have long preoccupied academics and policy-makers. This paper revisits the inequality-growth and poverty-growth links. Using a panel of 158 countries between 1960 and 2010, we find that ...