scholarly journals The Impact of Major Macroeconomic Variables on Iran's Steel Import and Export

2016 ◽  
Vol 36 ◽  
pp. 390-398 ◽  
Author(s):  
Nasrin Esmaeili Todshki ◽  
Ali Ranjbaraki
Keyword(s):  
Macroeconomic Variables ◽  
Import And Export ◽  
Steel Import ◽  
The Impact

Tracking the Transmission Channels of Fiscal Deficit and Food Inflation Linkages: A Structural VAR Approach

2020 ◽  
pp. 165-172
Keyword(s):  
Positive Impact ◽  
Structural Var ◽  
Fiscal Deficit ◽  
Agricultural Industry ◽  
Vector Autoregressive ◽  
Transmission Channels ◽  
Government Deficit ◽  
Import And Export ◽  
The Impact ◽  
Food Inflation

This empirical analysis aspired to unearth the transmission channels of fiscal deficit and food inflation linkages in the Indian perspective by reasonably exerting the data for 1991 to 2017. The precise results of structural vector autoregressive (SVAR) analysis proffered that there were three different mechanisms of transmission such as consumption, general inflation, and import channels that led to food inflation in response to the high fiscal deficit. The first channel revealed that government deficit spending had a positive impact on income which further led to food inflation through surging the household consumption expenditure. It was concluded that fiscal deficit passed through general inflation finally leading to a food price surge in the economy and seemed to work as cost-push inflation for the food and agricultural industry. The outcome also revealed that the impact of fiscal deficit passed to food inflation through external linkages such as import and export.

Macroeconomic fundamentals and dynamics of the Indian rupee-dollar exchange rate

2015 ◽  
Vol 7 (4) ◽  
pp. 301-326 ◽  
Author(s):  
Chandan Sharma ◽  
Rajat Setia
Keyword(s):  
Exchange Rate ◽  
Structural Break ◽  
Cointegration Analysis ◽  
Least Square ◽  
Dollar Exchange Rate ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Indian Rupee ◽  
Macroeconomic Fundamentals ◽  
The Impact

Purpose – This paper aims to examine the relationship between Indian rupee-US dollar exchange rate and the macroeconomic fundamentals for the post-economic reform period. Design/methodology/approach – The authors have used an empirical model which includes a range of important macroeconomic variables based on the basic monetary theories of exchange rate determination. At the first stage of the analysis, they have tested structural break in the data. Subsequently, they have employed the fully modified ordinary least square, Wald’s coefficient restriction and impulse response functions (IRF) to estimate the monetary model in the long- and short-run horizons. Findings – Results of analyses indicate that the macroeconomic fundamentals determine exchange rate in a significant way, but their effect varies sizably across the periods. The IRF illustrate the importance of interest rate in controlling exchange rate volatility. Practical implications – The analysis of the behavior of inter-relationship among macroeconomic variables will help policymakers in a deep-rooted understanding of this complex and time-varying relationship. Originality/value – Most of the existing studies have tested the impact of a single or a few macroeconomic fundamentals on exchange rate. But in the present study, we have tested the impact of a range of important variables, i.e. money supply, real income or output, price level and trade balance. Further, considering the importance of structural breaks in data, they authors have employed standard tests of structural break and incorporated the issue in the cointegration analysis.

scholarly journals Econometric Analysis of the Impact of Propensities on Economic Occurrences: A Macroeconomic Perspective

2012 ◽  
Vol 10 (2) ◽  
pp. 138-154 ◽  
Author(s):  
Mariusz Doszyń
Keyword(s):  
Spatial Data ◽  
Fixed Effects ◽  
Classical Model ◽  
Econometric Analysis ◽  
Dummy Variables ◽  
Macroeconomic Variables ◽  
Current State ◽  
Famous Book ◽  
Direct Models ◽  
The Impact

Econometric Analysis of the Impact of Propensities on Economic Occurrences: A Macroeconomic PerspectiveThe main aim of this article was the specification of problems connected with analysis of impact of human propensities on economic occurrences and also a proposition of econometric tools enabling the identification of this impact. According to the meaning of propensities in economics the current state of knowledge is mostly an effect of considerations presented by J.M. Keynes in his famous book "The General Theory of Employment, Interest and Money" where J.M. Keynes proposed such economic categories as the average and marginal propensities. One of the goals of the presented deliberations was to specify problems related with economic theory of propensities. Such propensities as a propensity to consume, to save, to invest and thesaurisation were particularly carefully analysed. The impact of these propensities on basic macroeconomic variables was considered with respect to the classical model, the neoclassical Solow-Swan model and theIS-LMscheme. In case of spatial data the effects of the impact of propensities could be analysed by means of models with dummy variables showing presence of given propensities. A procedure enabling the construction of such variables was proposed. In case of time series, conceptions delivered by the integration and cointegration theory could be applied. Especially such models as VAR and VECM could be useful. Models for panel data enable direct (models with fixed effects) or indirect (models with random effects) consideration of the impact of propensities on the analysed processes.

Market overreaction, firm-specific information and macroeconomic variables in US and Chinese markets during COVID-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ooi Kok Loang ◽  
Zamri Ahmad
Keyword(s):  
Unemployment Rate ◽  
Stock Return ◽  
Design Methodology ◽  
Specific Information ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Real Gdp ◽  
Chinese Markets ◽  
The Impact ◽  
Loser Portfolio

PurposeThis study examines the impact of firm-specific information and macroeconomic variables on market overreaction of US and Chinese winner and loser portfolio before and during COVID-19.Design/methodology/approachThe firm-specific information includes firm size, volume, volatility, return of asset (ROA), return of equity (ROE), earning per share (EPS) and quick ratio while the macroeconomic variables are export rate, import rate, real GDP, nominal GDP, FDI, IPI and unemployment rate. Besides, one-third of the top performance stocks are categorized as winner portfolio while one-third of lowest performance stocks are categorized as loser portfolio. This study uses AECR to indicate stock return and measure market overreaction. GAECR is used to determine contrarian profit. The data range of pre-COVID-19 is from 1-Jan-2015 to 31-Dec-2019 while the period of COVID-19 is from 1-Jan-2020 to 31-Dec-2020.FindingsIn pre-COVID-19, firm-specific information (volatility, ROA, ROE and EPS) and macroeconomic variables are found to be correlated to stock return in US and Chinese portfolios except Chinese winner portfolio. Nonetheless, the impact of firm-specific information has vanished and macroeconomic variables are significant to stock return in COVID-19. It shows that investors rely on the economic indicators to trade in turbulent period due to emergence of COVID-19 as a disruption in market. Furthermore, US and Chinese portfolios are overreacted during COVID-19. Chinese loser portfolio has higher tendency of overreaction than US loser portfolio while US winner portfolio has higher tendency of overreaction than Chinese winner portfolio.Originality/valueThe results of this study assists academician, practitioners and investors on understanding and create awareness to the existence of market overreaction and the determinants that can cause the phenomenon.

The Impact of the Credit Channel on Macroeconomic Variables and Bank Characteristics in the Brazilian Economy from 2009 to 2018

2021 ◽  
Vol 40 (1) ◽  
Author(s):  
Mohammad Farajnezhad
Keyword(s):  
Monetary Policy ◽  
Fixed Effect Model ◽  
Credit Channel ◽  
Macroeconomic Variables ◽  
Brics Countries ◽  
Effect Model ◽  
Level Data ◽  
Monetary Policy Transmission Mechanism ◽  
The Interest Rate ◽  
The Impact

This article uses commercial bank-level data to examine a credit channel of the monetary policy transmission mechanism in the Brazilian economy from BRICS countries.  Static panel data with a fixed-effect model are used for data analysis. Using a sample of 212 commercial banks from 2009 to 2018. According to the findings of this study, there is a significant and positive relationship between macroeconomic variables that affect the interest rate and GDP with the loan amount, but not with the inflation rate. Also, it is reasonable to conclude that banks in Brazil react to monetary policy in a variety of ways.

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