This paper explains why the overall stance of monetary policy is effected by both interest rates and the exchange rate, and hence why a Monetary Conditions Indicator can provide useful information about the stance of policy. Three output gap equations estimated in this paper reveal that the real interest rate and the real exchange rate both affect excess demand but that the real interest rate i...

The study examines the asymmetric effect of oil price on exchange rate and stock using Nonlinear Autoregressive Distributive Lag (NARDL) technique time-series data spanning from January 1996 to September 2020. multivariate cointegration test showed evidence a long-run relationship among price, rate, price. linear Granger causality that is granger caused by cause rate. nonlinear nonlinearity BDS...

This study investigates the impact of energy consumption and financial development on economic growth using neo-classical production function in the case of US. The ARDL (Autoregressive distributed lag) bounds testing approach with additional variables (energy consumption and financial development) is used to investigate cointegration during the period of 1967-2012 in US. The ARDL reveals a coi...

The disappointing economic performance of Sub-Saharan African (SSA) economies in the late 1980s prompted economic-wide policy reforms in the early 1990s. The primary objectives of these institutional and structural changes were to promote trade and export activities, enhance foreign direct investment (FDI) inflows, and ease foreign access to SSA markets particularly for large multinational ente...

this study estimates the residential property prices in tehran using hedonic price functions and spatial econometrics. the newly employed method is extending the analysis to the neighbourhood level (361 sectors) using the city's planning and gis tools. the results show that the spatial econometric model has higher identification than the simple econometric model. the distance between the c...

The aim of this paper is to investigate the domestic saving-investment relation in Turkey. In their very effective paper Feldstein and Horioka (1980) (FH hereafter) states that presence of relationship between national saving and investment would not be expected under the perfect capital mobility. In the case of perfect capital mobility, savings follow wherever the highest return is and the rel...

abstract research and development (r&d;) spending plays a major role in innovation, raising productivity and increasing economic growth. the purpose of this paper is to investigate the impact of r&d; spending on growth and total factor productivity (tfp) in iran's agricultural sector. we estimate growth and productivity models using auto-regressive distributed lag (ardl) approach and data over ...

This study aims to examine the effect of investment and consumption spending on Indonesia’s economic growth. The data used is the quarterly time series data from the first quarter of year 2003 to the fourth quarter of year 2013, comprising consumption spending, investment and economic growth. For the purpose of analysis, the autoregressive distributed lag (ARDL) model is used. The result of the...

This paper investigates the relationship between electricity consumption and economic growth by using Autoregressive Distributed Lag (ARDL) bounds testing approach and vector error-correction models (VECM) in Cameroon, Cote D'Ivoire, Congo, Ethiopia, Gabon, Ghana, Guatemala, Kenya, Senegal, Togo and Zambia for period 1970-2010. The ARDL results show that there is cointegration relation between ...