This paper uses a simple money demand and supply framework to estimate the impact of quantitative easing (QE) on asset prices and nominal spending. We use standard money accounting to try to establish the impact of asset purchases on broad money holdings. We show that the initial impact of £200 billion of asset purchases on the money supply was partially offset by other ‘shocks’ to the money su...

In many econometric models the asymptotic variance of a parameter estimate depends on the value of another structural parameter in such a way that the data contain little information about the former when the latter is close to a critical value. This paper introduces the zero-information-limitcondition (ZILC) to identify such models where ‘weak identification’ leads to spurious inference. We fi...

This paper investigates the in uence of a rm's nancial status on the withinrm allocation of funds, re ected in its plant-level investment and exit decisions. In the empirical analysis, nancial status is measured by both standard measures and an indicator variable recently suggested by Kaplan and Zingales. Based on these rm-level nancial variables and on plant-level investment and production dat...

To understand the role of green credit in maintaining economic sustainability, we develop theoretical hypotheses including expectation, supervision and capital allocation channels to explain the impacts of green credit. Then, we use hybrid econometric models by using Chinese-listed enterprises in the energy-saving and environmental sectors from 2007 to 2015 as the research sample to verify the ...

The examples given in the introduction to this monograph provide persuasive arguments that the combination of inflation and the traditional mortgage instrument imposes burdens on households and thrift stitutions, burdens which are likely to have impacts in the housing market and ultimately on the construction sector. We are interested in whether or not the existing literature, summarizing empir...

This paper reviews the published studies on tourism demand modelling and forecasting since 2000. One of the key findings of this review is that the methods used in analysing and forecasting the demand for tourism have been more diverse than those identified by other review articles. In addition to the most popular time series and econometric models, a number of new techniques have emerged in th...

improved the exposition, but they are in no way responsible for remaining flaws. Engle's footsteps range widely. His major contributions include early work on band-spectral regression, development and unification of the theory of model specification tests (particularly Lagrange multiplier tests), clarification of the meaning of econometric exogeneity and its relationship to causality, and his l...

Description: This study covers the outlook for products and services in Cagayan De Oro City. Estimates reported are given for the latent demand, or potential industry earnings (P.I.E.), for Cagayan De Oro City across hundreds of categories (in millions of U.S. dollars) and of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a Cagayan De Oro City vis-à-...

This paper examines the nexus between political instability and economic growth in 10 CEE countries in transition in the period 1990-2009. Our results support the contention that political instability defined as a propensity for government change had a negative impact on growth. On the other hand, there was no causality in the opposite direction. A sensitivity analysis based on the application ...

We estimate the business telecommunications demand for local, intra-LATA and inter-LATA services, using US telecommunications data from a Bill Harvesting survey carried out during 1997. Available information does not allow specifying demand as function of prices; hence we use flexible modelling estimation tools in order to find a useful specification with improved predictive ability over altern...