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...

I study optimal monetary policy in an expectational Phillips Curve environment in which private agents optimally choose their amount of information pertinent to predicting policy. ARCH shocks produce interesting information acquisition (IA) dynamics. Under discretion, IA dynamics cause time-varying effectiveness of policy because of the expectational Phillips Curve; policy may be rendered compl...

The discussion about country-specific influence on the interest rate decisions of the European Central Bank does not cease. To investigate the possibility of regional influence on the determination of the policy rate, we estimate Taylor-type reaction functions for the period from 1999 to 2005 and include country-specific variables of the euro zone member states. We do not find convincing eviden...

The present study aims to explore the causal relationship among economic growth energy consumption and urbanization environmental quality in ASEAN-5 countries. current conduct time series analysis countries using granger casualty model consisting data set from 1980 2018. outcomes of reveals that urban population cause CO2 emission suggested should reduce utilization fossil fuel based induct rob...

This paper performs multiple-break unit root tests on the data of China’s national and sectoral output and labour productivity, with finite-sample critical values bootstrapped through Monte Carlo simulations. We find strong evidence against the unit-root hypothesis in favour of the segmentedtrend-stationarity alternative. Based on breaking trend functions, the steady-state and transitional grow...

JEL classification E52 This paper examines the credibility of the Federal Reserve's monetary targets using survey data on money growth forecasts to measure market expectations. The paper provides two main results. First, there is strong evidence that the monetary targets were credible over the 1978 to 1993 sample period, although credibility fell in the post-1985 period. Second, both the federa...

In this study, New Zealand and Finland are examined by Autoregressive distributed lag (ARDL) model for the relationship between coal consumption economic growth. For growth relationship, Kuznets curve is investigated period 1980 2015 2013. Results of study show that confirmed Finland. Hao et al. (2016) as in This contributes to current literature verifying Coal also not these countries before. ...

a r t i c l e i n f o Available online xxxx JEL classifications: O33 O34 O41 Keywords: Intellectual Property Rights (IPR) Economic growth North–south model In this paper, we develop a general equilibrium endogenous growth model that emphasizes the IPR enforcement effects on growth, in a scenario of north–south technological knowledge diffusion. The economy consists of three sectors, and firms a...

Is credit expansion a sign of desirable financial deepening or the prelude to an inevitable bust? We study this question in modern US data using structural VAR model 10 monthly frequency variables, identified by heteroskedasticity. Negative reduced-form responses output growth are caused endogenous monetary policy response shocks. On average, and remain positively associated. “Financial stress”...

This paper attempts to quantify the effect of skill shortages on the UK labour market by developing a simultaneous equation model of unemployment and real wage growth. The model is developed following a structural approach based on a priori economic information and is initially estimated using a two-stage least squares procedure. The model is also estimated using Zellner’s seemingly unrelated r...