Now showing items 1-4 of 4
The Global Side of the Investment-Savings Puzzle
(University of GlasgowUniversiy of Palermo, 2008)
In this paper we re-examine the long standing and puzzling correlation between national savings and investment in industrial countries. We apply an econometric methodology that allows us to separate idiosyncratic correlation ...
Structural Breaks in the Real Exchange Rate and Real Interest Rate Relationship
(University of GlasgowUniversity of Tsukuba, 2008)
In this paper we empirically examine the relationship between the real exchange rate and real interest rate differentials using recent econometric methods robust to potential structural breaks. Generally, our study provides ...
Common and Idiosyncratic Factors of the Exchange Risk Premium in Emerging European Markets
(University of GlasgowTsukuba University, 2008)
Existing empirical evidence suggests that the Uncovered Interest Rate Parity (UIRP) condition may not hold due to an exchange risk premium. For a panel data set of eleven emerging European economies we decompose this ...
The Global Dimension to Fiscal Sustainability
(University of Glasgow, 2008)
This paper examines the issue of fiscal sustainability in emerging market countries and industrial countries. We highlight the importance of the time series properties of the primary surplus and debt, and find evidence ...