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Modelling the Cyclical Behaviour of Wine Production in the Douro Region Using a Time-Varying Parameters Approach
Author: Mario Cunha Christian Richter
Vol.: 2010.1
Publishing house: INFER
Place: London
year: 2010
No of pages: 27
ISBN n/a
category INFER Working Papers
price Free to download EUR
This paper investigates the cyclical behaviour of the wine production in Portugal’s Douro region during the period of 1932 to 2008. In general, wine production is characterised by large fluctuations. These fluctuations may cover the existence of deterministic cycles. Hence, in this paper, we decompose the wine production’s variance in order to find the dominating production cycles In the next step we try to explain those cycles using a dependent variable, namely the medium spring temperature for the period 1967 to 2008. We estimated a Time-Varying Autoregressive Model, which could explain 76% of wine variability (R2=0.76; n=69; p<0.000). When the temperature was incorporated the R-squared is much higher (R2=0.98; n=36; p<0.000) and the Akaike criterion value is lower. Hence, medium spring temperature causes a large amount of these cycles and the wine production variation reflects this relationship. In addition to an upward trend, there is a clearly identifiable cycle around the long term trend in Douro wine production. We also show how much of the production cycle and what cycle in particular is explained by the medium spring temperature. We use the short time Fourier Transform to decompose the link between wine production and temperature. We find: i) wine production is characterised by 4.8 and 2.5 year cycles; ii) by there is a strong link between wine production and the mean temperature in spring; iii) this link is not constant, but stable. In particular, the temperature is responsible for 5.2 and 2.4 year cycles – which has been happening since the 1980s, iv) the spring temperature can also be used to as an indicator for the six year and one year cycles of wine production.
Degree of Openness and Inflation Targeting Policy: Model of a Small Open Economy
Author: Bousrih Jihene Bousrih Jihene
Vol.: 2010.2
Publishing house: INFER
Place: London
year: 2010
No of pages: 29
ISBN n/a
category INFER Working Papers
price Free to download EUR
In this paper, we present the dynamics of a Neo-Keynesian model applied to a small open economy in order to study the impact of openness on the choice of the appropriate inflation targeting policy. In the event of exogenous shocks, we can use either a CPI inflation targeting policy or a domestic inflation targeting policy.
We conclude that there is a relation between the degree of openness of the economy and the type of infation targeting policy. By considering a domestic shock, when the economy is more open towards outside, we may find that the adoption of CPI inflation targeting is benefical. Whereas in the event of foreign shock, the optimal rule would be the domestic inflation targeting. By considering the criteria of social welfare, we find that for an important degree of openness, the policy of CPI inflation targeting remains the optimal monetary rule.
Aspects in Varieties of Capitalism: Dynamics, Economic Crisis, New Players
Author: H. Egbert and C. Esser
Vol.: 3
Publishing house: Lambert Academic Publisher
Place: Koeln
year: 2010
No of pages: 236
ISBN 3838340450
category INFER Series in Applied Economics
price 69.00 GBP
The Varieties of Capitalisms (VOC) approach focuses on institutional complementarities. These complementarities explain how and why different types of capitalist systems are able to co-exist and complement each other. This volume provides some new perspectives on the VOC approach by including countries and actors which so far have not been in the focus of attention. Different methodologies are used to analyze topics which have generally been neglected previously. The book includes - inter alia - contributions on Indian multinationals, the labour market in Spain, regional labour markets in Slovakia, a historical analysis of institutional development in New Zealand and the Netherlands, as well as on educational systems. As the contributions are made by economists, political scientists, historians and sociologists, they are meant for an interdisciplinary audience. Hence, readers from these disciplines with an interest in policy analysis will find the book most useful.
Globalization, Integration and Transition: Challenges for Developing and Developed Countries
Author: M. Pop Silaghi, H. Marques, D. Mati
Vol.: 2
Publishing house: Lambert Academic Publisher
Place: Koeln
year: 2010
No of pages: 308
ISBN 3838311655
category INFER Series in Applied Economics
price 71.00 GBP
This volume, Globalization, Integration and Transition, originates from the 8th International Network for Economic Research (INFER) workshop on International Economics held at the Faculty of Economics and Business Administration, Babe-Bolyai University of Cluj-Napoca, Romania, on 17-18 October 2008. This workshop brought together researchers and policy makers to discuss the challenges of the European integration, especially for the emergent countries and of the globalisation. Fourteen papers are published in this volume and they form two themes: Globalization, Integration and Development and Facing Globalisation, Integration and Transition: Emergent countries with a focus upon the Romanian Economy. This collection of papers aims to stimulate further debate on these issues and, in doing so, will help to broaden the exchange of ideas among economists in both academia and business.
Public Finance, Monetary Policy and Market Issues
Author: Edward Shinnick (ed.)
Vol.: 5
Publishing house: LIT
Place: Berlin, Germany
year: 2009
No of pages: 368
ISBN 978-3-8258-1544-8
category INFER Research Perspectives
price 69.90 EUR
Educational Thresholds and Economic Growth: Empirical Evidence from Brazilian States
Author: Tulio A. Cravo Elias Soukiazis
Vol.: 2009.1
Publishing house: INFER
Place: London
year: 2009
No of pages: 27
ISBN n/a
category INFER Working Papers
price Free to download EUR
This paper examines the convergence process in Brazil over the period of 1985-2004, giving a special attention to the role of human capital as a conditioning factor to convergence. It examines how different levels of human capital influence growth in different regions of Brazil. Different measures of human capital are used in the growth regressions and the results show that they play a significant role in explaining the growth process. The evidence indicates that different levels of human capital have different impacts on the per capita income growth, depending on the level of development of the states. Lower levels of human capital explain better the convergence among the less developed states and higher levels of human capital are more adequate among the more developed states. The impact of the relative intermediate levels of human capital on growth is stronger in all samples, suggesting the existence of threshold effect in education.
Issues in Economic Performance
Author: Edward Shinnick
Vol.: 1
Publishing house: LIT
Place: Berlin, Germany
year: 2009
No of pages: 152
ISBN 978-3-8258-1963-7
category New Developments in Economic Research
price 39.90 EUR
IMMIGRATION AND DISCRIMINATION IN A FORMER EMIGRANT COUNTRY: THE CASE OF SPAIN
Author: José-Ignacio Antón Rafael Muñoz de Bustillo Miguel Carrera
Vol.: 2009.2
Publishing house: INFER
Place: London
year: 2009
No of pages: 20
ISBN n/a
category INFER Working Papers
price free to download EUR
This article analyses the immigrant-native wage differentials in Spain, which only recently has become a host country. The paper exploits the Earnings Structure Survey 2006, which is the first nationally representative sample of both foreign and Spanish employees. Using the Machado-Mata econometric procedure, wage differentials between locals and foreigners are decomposed into the gap related to characteristics and the one due to different returns on endowments (i.e., discrimination). We find that, in absolute terms, the latter component grows across wage distribution, reflecting the existence of a kind of glass ceiling consistent with the evidence of over-education found by previous research.
Determinants of Export Specialization in ICT Products: A Cross-Country Analysis
Author: Klimis Vogiatzoglou
Vol.: 2009.3
Publishing house: INFER
Place: London
year: 2009
No of pages: 22
ISBN n/a
category INFER Working Papers
price Free to Download EUR
In this paper the determinants of ICT export specialization are investigated with a panel- econometric analysis, which includes 28 countries. ICT exports are broken down into three broad ICT product groups (electronic data processing machines, integrated circuits and electronic components, and telecommunications equipment), and the determinants are examined for each of the above product categories. Our results indicate that technology factors, such as Research & Development expenditure and human capital constitute significant determinants. However, other deterministic factors, related to more recent trade theories, seem to be relatively more important.
Economic Integration, International Trade and the Role of Foreign Direct Investment
Author: Joao Paulo Cerdeira Bento
Vol.: 3
Publishing house: LIT
Place: Berlin, Germany
year: 2009
No of pages: 176
ISBN 978-3-643-10084-9
category New Developments in Economic Research
price 39.90 EUR
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