Journal of Econometrics, Volume 122, Issue 1 PDF Download
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Languages : en
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Author: Mr.Salvatore Dell'Erba
Publisher: International Monetary Fund
ISBN: 1616355700
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset of macroeconomic and fiscal variables for a panel of OECD countries for the period 1989-2012. We find that two global factors—the global monetary and fiscal policy stances—explain more than 60 percent of the variance in the long-term interest rates. Compared to the estimates from models which do not account for global factors, we find that the importance of domestic variables in explaining long-term interest rates is weakened. Moreover, the propagation of global fiscal shocks is larger in economies characterized by macroeconomic and institutional weaknesses.
Author: Mr.Shekhar Aiyar
Publisher: International Monetary Fund
ISBN: 1484315804
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
The “middle-income trap” is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified as large sudden and sustained deviations from the growth path predicted by a basic conditional convergence framework. We then examine their determinants by means of probit regressions, looking into the role of institutions, demography, infrastructure, the macroeconomic environment, output structure and trade structure. Two variants of Bayesian Model Averaging are used as robustness checks. The results—including some that indeed speak to the special status of middle-income countries—are then used to derive policy implications, with a particular focus on Asian economies.
Author: Badi H. Baltagi
Publisher: John Wiley & Sons
ISBN: 047099830X
Category : Business & Economics
Languages : en
Pages : 736
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Book Description
A Companion to Theoretical Econometrics provides a comprehensive reference to the basics of econometrics. This companion focuses on the foundations of the field and at the same time integrates popular topics often encountered by practitioners. The chapters are written by international experts and provide up-to-date research in areas not usually covered by standard econometric texts. Focuses on the foundations of econometrics. Integrates real-world topics encountered by professionals and practitioners. Draws on up-to-date research in areas not covered by standard econometrics texts. Organized to provide clear, accessible information and point to further readings.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498340849
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
Liberalization of capital flows can benefit both source and recipient countries by improving resource allocation, reducing financing costs, increasing competition and accelerating the development of domestic financial systems. The empirical evidence, however, is mixed on the benefits, and it suggests that countries benefit most when they meet certain thresholds related to institutional and financial development. The principal cost of capital flow liberalization stems from the economic instability brought on by volatile capital flows. In extreme cases, sudden stops or reversals in capital inflows can trigger financial crises followed by prolonged periods of weak growth.
Author: Fabrice D. Rouah
Publisher: John Wiley & Sons
ISBN: 1118429206
Category : Business & Economics
Languages : en
Pages : 456
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Book Description
This comprehensive guide offers traders, quants, and students the tools and techniques for using advanced models for pricing options. The accompanying website includes data files, such as options prices, stock prices, or index prices, as well as all of the codes needed to use the option and volatility models described in the book. Praise for Option Pricing Models & Volatility Using Excel-VBA "Excel is already a great pedagogical tool for teaching option valuation and risk management. But the VBA routines in this book elevate Excel to an industrial-strength financial engineering toolbox. I have no doubt that it will become hugely successful as a reference for option traders and risk managers." —Peter Christoffersen, Associate Professor of Finance, Desautels Faculty of Management, McGill University "This book is filled with methodology and techniques on how to implement option pricing and volatility models in VBA. The book takes an in-depth look into how to implement the Heston and Heston and Nandi models and includes an entire chapter on parameter estimation, but this is just the tip of the iceberg. Everyone interested in derivatives should have this book in their personal library." —Espen Gaarder Haug, option trader, philosopher, and author of Derivatives Models on Models "I am impressed. This is an important book because it is the first book to cover the modern generation of option models, including stochastic volatility and GARCH." —Steven L. Heston, Assistant Professor of Finance, R.H. Smith School of Business, University of Maryland
Author: Daniel Werner
Publisher: wbv Media GmbH & Company KG
ISBN: 3763940766
Category : Social Science
Languages : en
Pages : 279
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Book Description
Zahlreiche Länder, so auch Deutschland, zeichnen sich durch ausgeprägte regionale Disparitäten auf dem Arbeitsmarkt aus. Regionalökonomische Studien liefern unterschiedlichste Ansätze, um die Existenz solcher Unterschiede zu erklären. Aber nur wenige Arbeiten geben Aufschluss über die Dynamik regionaler Arbeitsmarktdisparitäten: Nehmen diese im Zeitablauf zu, verringern sie sich oder bleiben sie stabil? Auch blenden die bisherigen Studien aus, welche Rolle Beschäftigtengruppen mit unterschiedlichem Qualifikationsniveau in diesem Prozess spielen. Die Arbeit von Daniel Werner schließt diese Lücken. Detailliert untersucht Werner zudem die Anpassungsprozesse nach regionalen Arbeitsmarktschocks. Sein Fazit: Die Mobilität der Arbeitskräfte - und hier insbesondere das Pendeln - ist der wichtigste Ausgleichsmechanismus.
Author: Daniel Slottje
Publisher: Emerald Group Publishing
ISBN: 0857241567
Category : Health & Fitness
Languages : en
Pages : 281
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Book Description
Presents research on some of these key issues such as the impact of obesity on health, children's' healthcare policies, education and health; and many more.
Author: Rahul Giri
Publisher: International Monetary Fund
ISBN: 1498315453
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
We identify key factors, from large set of potential determinants, that explain the variation in export diversification across countries and over time using Bayesian Model Averaging (BMA), which addresses model uncertainty and ranks factors in order of importance vis-a-vis their explanatory power. Our analysis suggests, in order to diversify, policy makers should prioritize human capital accumulation and reduce barriers to trade. Other policy areas include improving quality of institutions and developing the financial sector. For commodity exporters reducing barriers to trade is the most important driver of diversification, followed by improving education outcomes at the secondary level and financial sector development.
Author: Y. Kuroda
Publisher: Springer
ISBN: 1137287640
Category : Business & Economics
Languages : en
Pages : 167
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Book Description
Analyzes quantitatively in a comprehensive, consistent, and integrated manner the production structure and productivity of postwar Japanese agriculture for the latter half of the 20th century, more specifically, 1957-97.
