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Displaying results 1 to 24 of 24.

  1. The real effects of money supply shocks
    evidence from maritime disasters in the Spanish Empire
    Published: March 2019
    Publisher:  School of Social Sciences, The University of Manchester, Manchester

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    Language: English
    Media type: Book
    Format: Online
    Series: Economics discussion paper series ; EDP-19, 06
    Subjects: monetary shocks; credit channel; price rigidity; wage rigidity; local projection
    Scope: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  2. State-dependent local projections
    Published: April 2023
    Publisher:  Federal Reserve Bank of Dallas, Research Department, Dallas

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    Series: Working paper / Federal Reserve Bank of Dallas, Research Department ; 2302
    Subjects: local projection; business cycle; state-dependence; impulse response; multiplier; threshold; identification; nonlinear structural model; potential outcomes model
    Scope: 1 Online-Ressource (circa 66 Seiten), Illustrationen
  3. Is quantitative easing productive?
    the role of bank lending in the monetary transmission process
    Published: [2023]
    Publisher:  EconomiX - UMR 7235, Université Paris Nanterre, Nanterre

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    Series: Working paper / EconomiX ; 2023, 17
    Subjects: unconventional monetary policy; bank lending; local projection; identification; zero- and sign restrictions
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  4. Supply chains shocks and inflation in Europe
    Published: 2023
    Publisher:  Narodowy Bank Polski, Warsaw

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    Series: NBP working paper ; no. 360
    Subjects: supply chains shock; inflation; local projection; panel data
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  5. Local projection based inference under general conditions
    Author: Xu, Ke-Li
    Published: January 4, 2023
    Publisher:  CAEPR, Center for Applied Economics and Policy Research, [Bloomington, IN]

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    Series: CAEPR working paper ; #2023, 001
    Subjects: Impulse response; local projection; persistence; semiparametric efficiency; uniform inference
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  6. The relationship between political instability and economic growth in advanced economies
    empirical evidence from a panel VAR and a dynamic panel FE-IV analysis
    Published: 2023
    Publisher:  RWI - Leibniz-Institut für Wirtschaftsforschung, Essen, Germany

    This paper analyzes the relationship between political instability and economic growth in advanced economies. Using a panel of 34 advanced economies from 1996 to 2020, we first employ a panel VAR estimated via System GMM, which allows us to explore... more

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    This paper analyzes the relationship between political instability and economic growth in advanced economies. Using a panel of 34 advanced economies from 1996 to 2020, we first employ a panel VAR estimated via System GMM, which allows us to explore the endogenous relationship between economic growth and political instability and to identify potential transmission channels. Second, we use an instrumental variable approach that exploits variation in median temperature and spillover effects of political instability from culturally approximate countries to establish causality. The empirical results suggest that political instability reduces GDP by 4 to 7 % five years after the shock, mainly through lower investment and consumption. A one standard deviation increase in economic growth reduces political instability by half a standard deviation, five years after the shock. In diesem Aufsatz analysieren wir die Beziehung zwischen politischer Instabilität und Wirtschaftswachstum für fortgeschrittene Volkswirtschaften sowie die potenziellen Wirkungskanäle zwischen beiden Größen. Dafür schätzen wir ein Panel-VAR mit Daten für 45 Volkswirtschaften von 1996 bis 2020. Zusätzlich verwenden wir einen Instrumentenvariablen-Ansatz, der Variationen in der Mediantemperatur und Spillover-Effekte politischer Instabilität aus kulturell ähnlichen Ländern nutzt, um kausale Beziehungen zwischen politischer Instabilität und Wirtschaftswachstum zu identifizieren. Die empirischen Ergebnisse deuten darauf hin, dass ein Schock der politischen Instabilität das BIP vor allem durch Anpassungsprozesse im Investitions- und Konsumverhalten um 4 bis 7 % verringert. Steigt hingegen das Wirtschaftswachstum, verringert dies die politische Instabilität fünf Jahre nach dem Schock um eine halbe Standardabweichung.

     

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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9783969731666
    Other identifier:
    hdl: 10419/269231
    Series: Ruhr economic papers ; #1000
    Subjects: Political instability; economic growth; panel VAR; system GMM; Panel IV; local projection
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  7. The fiscal consequences of deflation
    evidence from the Golden Age of globalization
    Published: October 2016
    Publisher:  ISEG - School of Economics and Management, Department of Economics, University of Lisbon, Lisbon

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    hdl: 10400.5/12305
    Series: Working papers / ISEG, School of Economics and Management, Department of Economics ; WP 2016, 23 DE/UECE
    Subjects: debt; deflation; local projection; impulse response functions; GMM; recessions; expansions
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  8. The price relevance of fiscal developments
    Published: November 2015
    Publisher:  ISEG - School of Economics and Management, Department of Economics, University of Lisbon, Lisbon

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    hdl: 10400.5/10676
    Series: Working papers / ISEG, School of Economics and Management, Department of Economics ; WP 2015, 16 DE/UECE
    Subjects: price level; yields; Ricardian regimes; SURE; local projection; impulse response function
    Scope: 1 Online-Ressource (circa 18 Seiten), Illustrationen
  9. Markups’ cyclical behavior
    the role of demand and supply shocks
    Published: February 2015
    Publisher:  ISEG - School of Economics and Management, Department of Economics, University of Lisbon, Lisbon

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    Format: Online
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    hdl: 10400.5/8613
    Series: Working papers / ISEG, School of Economics and Management, Department of Economics ; WP 2015, 08 DE/UECE
    Subjects: Blanchard-Quah; mark-up; VAR; impulse response function; local projection
    Scope: 1 Online-Ressource (circa 9 Seiten), Illustrationen
  10. Fiscal episodes, technological progress and market power
    Published: July 2015
    Publisher:  ISEG - School of Economics and Management, Department of Economics, University of Lisbon, Lisbon

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    Format: Online
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    hdl: 10400.5/9246
    Series: Working papers / ISEG, School of Economics and Management, Department of Economics ; WP 2015, 09 DE/UECE
    Subjects: imperfect competition; TFP; fiscal consolidation; local projection; business cycle; impulse response functions; GMM
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  11. The price of haircuts
    private and official default
    Published: [2021]
    Publisher:  Dipartimento di economia, metodi quantitativi e strategia di impresa, Università degli studi di Milano-Bicocca, [Mailand]

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    Series: CefES paper series ; no. 458 (January 2021)
    Subjects: Sovereign defaults; Haircut; Credit Rating Agencies; bond yield spreads; local projection
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  12. When do state-dependent local projections work?
    Published: May 2022
    Publisher:  Federal Reserve Bank of Dallas, Research Department, Dallas

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    Series: Working paper / Federal Reserve Bank of Dallas, Research Department ; 2205
    Subjects: local projection; state-dependent impulse responses; threshold; identification; nonlinear VAR
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  13. Financial stress and macroeconomic fluctuations in Peru
    = Estrés financiero y fluctuaciones macroeconómicas en Perú
    Published: [2021]
    Publisher:  [Banco Central de Reserva del Perú], [Lima, Peru]

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    Series: Working paper series / Banco Central de Reserva del Perú ; DT. no. 2022, 002 (diciembre 2021)
    Subjects: Financial stress index; principal component analysis; local projection
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  14. Nightless city: impacts of policymakers' questions on overtime work of government officials
    Published: [2022]
    Publisher:  Waseda INstitute of Political EConomy, Waseda University, Tokyo, Japan

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    Series: Array ; no. 21, 25 (March 2022)
    Subjects: mobility data; overtime work; local projection; government officials
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  15. Minimum wage and collective bargaining reforms
    a narrative database for advanced economies
    Published: April 2022
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    This paper presents and describes a new database of major minimum wage and collective bargaining reforms covering 26 advanced economies over the period 1970-2020. The main advantage of this dataset is the precise identification of the nature and date... more

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    This paper presents and describes a new database of major minimum wage and collective bargaining reforms covering 26 advanced economies over the period 1970-2020. The main advantage of this dataset is the precise identification of the nature and date of major reforms, which is valuable in many empirical applications. Based on the dataset, major changes in minimum wages have been more frequent than in collective bargaining in the last decades, and the majority of these were implemented during the 1980s and 1990s. In our empirical application, we find that minimum wage reforms have a medium-run positive impact on labor productivity and they lead to a fall in the unemployment rate. Collective bargaining reforms do not seem to affect either productivity or capital formation but they have a clear medium-term effect on the labor market. Moreover, collective bargaining reforms are more sensitivity to the prevailing business cycle conditions at the time of the reform (vis-à-vis minimum wage reforms).

     

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    hdl: 10419/260822
    Series: CESifo working paper ; no. 9692 (2022)
    Subjects: labour market policies; minimum wage; collective bargaining; labour productivity; growth; local projection
    Scope: 1 Online-Ressource (circa 23 Seiten), Illustrationen
  16. The impacts of oil price volatility on financial stress
    is the COVID-19 period different?
    Published: [2021]
    Publisher:  Department of Economics, University of Pretoria, Pretoria, South Africa

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    Other identifier:
    hdl: 11159/7067
    Series: Department of Economics working paper series / Department of Economics, University of Pretoria ; 2021, 84 (December 2021)
    Subjects: Oil price volatility; financial stress index (FSI); local projection; impulse response; global financial crisis (GFC); COVID-19 recession
    Scope: 1 Online-Ressource (circa 17 Seiten), Illustrationen
  17. Is to forgive to forget?
    sovereign risk in the aftermath of a default
    Published: July 2021
    Publisher:  Centro Studi Luca d'Agliano, [Milano]

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    Series: Development studies working papers / Centro Studi Luca d'Agliano ; n. 475
    Subjects: Sovereign defaults; Haircut; Credit Rating Agencies; bond yield spreads; local projection
    Scope: 1 Online-Ressource (circa 65 Seiten), Illustrationen
  18. Can COVID-19 induce governments to implement tax reforms in developing countries?
    Published: [2021]
    Publisher:  Center for Global Development, Washington, DC

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    Series: Working paper / Center for Global Development ; 567 (March 2021)
    Subjects: Epidemie; Steuerreform; Entwicklungsländer; fiscal policy; pandemics; local projection; impulse response functions; tax reforms; binary choice models
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen
  19. GDP effects of pandemics
    a historical perspective
    Published: December 2020
    Publisher:  Szkoła Główna Handlowa w Warszawie, Warszawa

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    Series: Collegium of Economic Analysis working paper series ; number: 2020, 057
    Subjects: pandemic; GDP; local projection; economic history; war; tree rings
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  20. Comparison of local projection estimators for proxy Vector Autoregressions
    Published: 2021
    Publisher:  DIW Berlin, German Institute for Economic Research, Berlin

    Different local projection (LP) estimators for structural impulse responses of proxy vector autoregressions are reviewed and compared algebraically and with respect to their small sample suitability for inference. Conditions for numerical equivalence... more

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    Different local projection (LP) estimators for structural impulse responses of proxy vector autoregressions are reviewed and compared algebraically and with respect to their small sample suitability for inference. Conditions for numerical equivalence and similarities of some estimators are provided. A new LP type estimator is also proposed which is very easy to compute. Two generalized least squares (GLS) projection estimators are found to be more accurate than the other LP estimators in small samples. In particular, a lag-augmented GLS estimator tends to be superior to its competitors and to perform as well as a standard VAR estimator for sufficiently large samples.Different local projection (LP) estimators for structural impulse responses of proxy vector autoregressions are reviewed and compared algebraically and with respect to their small sample suitability for inference. Conditions for numerical equivalence and similarities of some estimators are provided. A new LP type estimator is also proposed which is very easy to compute. Two generalized least squares (GLS) projection estimators are found to be more accurate than the other LP estimators in small samples. In particular, a lag-augmented GLS estimator tends to be superior to its competitors and to perform as well as a standard VAR estimator for sufficiently large samples.

     

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    Media type: Book
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    Other identifier:
    hdl: 10419/234456
    Series: Discussion papers / Deutsches Institut für Wirtschaftsforschung ; 1949
    Subjects: Structural vector autoregression; local projection; impulse responses; instrumental variable
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  21. The interest rate sensitivity of house prices
    international evidence on its state dependence
    Published: [2024]
    Publisher:  Swiss National Bank, Zurich

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    Series: SNB working papers ; 2024, 1
    Subjects: house prices; interest rates; local projection; smooth transition function
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  22. Anticipating credit developments with regularization and shrinkage methods
    evidence for turkish banking industry
    Published: [2024]
    Publisher:  Central Bank of the Republic of Turkey, Head Office, Structural Economic Research Department, Ankara, Turkey

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    Series: Çalışma Tebliği / Türkiye Cumhuriyet Merkez Bankası ; no: 24, 02(February 2024)
    Subjects: credit growth; forecasting; LASSO; residual credit; local projection
    Scope: 1 Online-Ressource (circa 40 Seiten)
  23. Nightless city: impacts of policymakers' questions on overtime work of government officials
    Published: March 2023
    Publisher:  The Institute of Social and Economic Research, Osaka University, Osaka, Japan

    We quantify the impact of unexpectedly assigned tasks on overtime work in the context of Japanese government officials. Data on overtime work are typically less reliable. We overcome this problem by using mobile phone location data, which enables us... more

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    We quantify the impact of unexpectedly assigned tasks on overtime work in the context of Japanese government officials. Data on overtime work are typically less reliable. We overcome this problem by using mobile phone location data, which enables us to precisely measure the nighttime population in the government-office district in Tokyo at an hourly frequency. Exploiting the exogenous nature of task arrivals, we estimate impacts on overtime work. We find that, in response to a newly assigned task, overtime work initially decreases and then increases persistently. Institutional changes to relax the time constraint and improve the working environment of government officials play a part in mitigating overtime work, but persistent increases in overtime work remain. We provide a simple model of optimal work al- location and show that distortion in intertemporal task allocation can account for the observed responses.

     

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    Series: Discussion paper / The Institute of Social and Economic Research ; no. 1206
    Subjects: mobile location data; overtime work; local projection; government officials
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  24. The effect of oil price shocks on the balance of payments of oil-importing economies
    Published: April 2024
    Publisher:  Centrale Bank Curaçao en Sint Maarten, Willemstad, Curaçao

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    Series: Working paper / [Centrale Bank van Curaçao en Sint Maarten] ; WP 24, 02
    Subjects: Oil importing economies; balance of payments; current account balance; oil price shocks; local projection; panel data
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen