Despite the widespread adoption of new information technologies, a “digital divide” still exists, excluding many from enjoying the benefits, especially those who live in developing countries. A digital divide is defined as an access gap that is measured by the disparities in subscriber penetration levels and technological gaps reflected in technological discrepancies between countries and regio...

This paper considers estimation and inference concerning the autoregressive coefficient (ρ) in a panel autoregression for which the degree of persistence in the time dimension is unknown. The main objective is to construct confidence intervals for ρ that are asymptotically valid, having asymptotic coverage probability at least that of the nominal level uniformly over the parameter space. It is ...

Bu çalışmanın amacı en iyi 10 yükselen piyasa ekonomisinde finansal gelişmişliğin insani gelişim üzerindeki etkisini panel vector autoregression (PVAR) yaklaşımı kullanarak 1990-2018 dönemi için ele almaktır. amaçla özel sektöre sağlanan krediler ve M2 para arzı temel göstergeleri olarak benimsenmiştir. Elde edilen sonuçlar kredilerin GSYH içindeki payında meydana gelen bir birimlik artışın gel...

this paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in indonesia. it assesses the relative strength of the role of each spending component in the monetary policy transmission. in so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of gdp to a monetary p...

Many financial time series processes appear subject to periodic structural changes in their dynamics. Regression relationships are often not robust to outliers nor stable over time, whilst the existence of changes in variance over time is well documented. This paper considers a vector autoregression subject to pseudocyclical structural changes. The parameters of a vector autoregression are mode...

This paper presents evidence on the link between employment protection legislation (EPL), such as mandated severance packages for fired workers, and the rate of unemployment in a cross-country panel data set of OECD countries from 1990-2013. We use both a traditional fixed effects panel specification with lags of the policy variable, and also a unique structural panel vector autoregression (PVA...

This paper develops a forecasting model for important macroeconomic variables in the state of Indiana. In this study, we specify a Bayesian Vector Autoregression (BVAR) model with Litterman’s prior. A comparison with the Vector Autoregression (VAR) model shows that BVAR improves forecast by reducing root mean square