Asymmetric shocks
Asymmetric shocks on its head and lender of last resort theories of optimal currency areas
... When national equity markets become integrated into a single Union-wide equity market, risk sharing through risk trading, that is, through financial portfolio diversification becomes an option for capital income. Most of ...
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Asymmetric Shocks, Long term Bonds and Sovereign Default
... With asymmetric shocks, we bring another ...output shocks, or ...behind asymmetric switch between different states, and we take it as exogenous and incorporate the asymmetric switching ...
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Exchange rates and asymmetric shocks in West African Monetary Zone Countries
... the asymmetric effects of exchange rate and inflation on output growth in WAMZ ...rates asymmetric effects on output growth in these ...positive asymmetric shock of inflation increases output growth; ...
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Asymmetric shocks, persistence in volatility and spillover effects between non ferrous metals on the LME spot market
... Analyzing volatility and spillover effects th at exist betw een base metals can provide usefu l information for investors, traders, industries and governments w ho are concerned w ith the commod ity markets, particularly ...
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Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two country DSGE model
... Our two-country model is driven by fourteen stochastic disturbances, seven for each economy. Innovations to the shocks are allowed to be correlated across countries. We estimate our model using Bayesian methods, ...
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Asymmetric Shocks and Co movement of Price Indices
... Inflation is calculated by using the measures of general price level such as consumer and wholesale price indices which form the foundation of central bank policy frameworks around the w[r] ...
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Stock Market Interactions between the BRICS and the United States: Evidence from Asymmetric Granger Causality Tests in the Frequency Domain
... Most studies that analyze stock market interactions rely on methods in the time domain. 1 Chang and Chu (2014) show that traditional approaches to Granger causality (GC, hereafter) yield many interesting insights, but ...
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Determinants of sovereign bond yield spreads in the EMU: An optimal currency area perspective
... As far as the second point is concerned – and this is also the second novel feature of the paper – in addition to the standard measures of default and liquidity risk, we include cumulated inflation differentials among our ...
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The proposed eco: should West Africa proceed with a common currency?
... external shocks, supply shocks, demand shocks and monetary ...external shocks to countries in the ...monetary shocks among the countries in the region is highly asymmetric, ...
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EU Fiscal Stance Vulnerability: Are the Old Members the Gold Members?
... Our paper fits into the literature analyzing the cyclicality and effects of fiscal policy in the EU. Recently, probably due to the impact of the financial and economic crisis, the dynamics of government budgets has been ...
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Simulation based estimation of threshold moving average models with contemporaneous shock asymmetry
... where the threshold is γ = 0. The true parameter values are β 0 + = 0.5, β 0 − = 1, β + 1 = 0.2, β 1 − = 0.8, σ = 1 which were also used by Guay & Scaillet (2003) in their simulation study. Sample sizes (T ) and ...
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Asymmetries in the Responses of Regional Job Flows to Oil Price Shocks
... price shocks operate is the costly reallocation ...have asymmetric e¤ects on job ‡ows, I focus here on the e¤ect of a positive oil price shock on state-level job ...
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The magnitude of the macroeconomic impact of oil price: the case of BRICS
... Remarkably, interest rates are not likely to be affected either by oil price changes or by positive shocks. This might be due to the excessive Brazilian interest rates. According to the IMF (2012), Brazil has ...
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ASYMMETRIC EFFECTS OF MONETARY POLICY SHOCKS ON OUTPUT GROWTH IN SELECTED OIL PRODUCING COUNTRIES IN AFRICA
... to shocks emanating from monetary policy ...the asymmetric effects of monetary shocks on economic growth and inflation in Iran between 1973 and ...
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Asymmetric Responses of Stock Prices to Money Supply and Oil Prices Shocks in Turkey: New Evidence from a Nonlinear ARDL Approach
... statistically significant in the long-term. This result implies that a 1% increase in money supply increases stock prices by 4.97%, while a 1% decrease in money supply also increases stock prices by 5,07% in Turkey. This ...
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Dwindling U S Internal Migration: Evidence of Spatial Equilibrium?
... although asymmetric economic shocks could be expected to occur, if there has been a change in the role of migration in smoothing out interregional labor demand shocks, a longer term decline in ...
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Productivity Shocks, Unemployment Persistence, and the Adjustment of Real Wages in OECD Countries
... ity shocks are extinguished in one and three years, respectively), for the rest the impulse response functions converge to levels which are different from ...productivity shocks cause unemployment to grow ...
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Technology, structural change and BOP constrained growth: A structuralist toolbox
... of shocks and policies based on how they affect the supply-side and demand-side parameters of the model; thirdly, it links more closely (Post-) Keynesian macroeconomics with the evolutionary microeconomics of ...
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CULTURE SHOCK AMONG FOREIGN STUDENTS: A CASE-STUDY OF THAI STUDENTS STUDYING AT UNIVERSITAS MUHAMMADIYAH PALEMBANG
... As they started to study in the first semester in the classroom, they felt culture shocks with the lecturers who mostly spoke English during the lesson and the students who were active to ask the questions. To ...
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How Do Different Oil Price Shocks Affect the Relationship Between Oil and Stock Markets?
... price shocks on the time varying correlation between oil and stock markets, and compares this effect in the oil importer and oil exporter countries for the period of 1996:1- ...price shocks and the ...
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