scholarly journals International Mobility of Capital in the United States: Robust Evidence from Time-Series Tests

2016 ◽  
Vol 8 (2) ◽  
Author(s):  
Tarlok Singh
Keyword(s):  
United States ◽  
Structural Breaks ◽  
High Mobility ◽  
The United States ◽  
Single Equation ◽  
Numerical Magnitude ◽  
Domestic Saving ◽  
Slope Parameter ◽  
International Mobility ◽  
Long Run

AbstractThis study examines the relationship between domestic saving and investment and measures the international mobility of capital in the United States. The long-run model, “with” and “without” structural breaks, is estimated using several single-equation and system estimators to assess the robustness of results and take an exhaustive account of the methodological and measurement issues. The results provide dominant support for the long-run relationship between domestic saving and investment. The estimates of the slope parameter on saving above zero and the dominant support for cointegration between saving and investment across estimators vindicate the validity of intertemporal budget constraint and suggest the sustainability of current account deficits. The numerical magnitude of the slope parameter on saving is consistently low across estimators. The results showing the low slope parameter on saving resonate with the observed high mobility of capital. The estimates of the model with structural breaks reinforce the dominant support for the long-run relationship between domestic saving and investment. The inclusion of these structural breaks in the model generally reduces the numerical magnitude of the slope parameter on saving and suggests the high mobility of capital.

scholarly journals Does Economic Policy Uncertainty Affect CO2 Emissions? Empirical Evidence from the United States

2020 ◽  
Vol 12 (21) ◽  
pp. 9108 ◽  
Author(s):  
Qing Wang ◽  
Kefeng Xiao ◽  
Zhou Lu
Keyword(s):  
United States ◽  
Economic Policy ◽  
Co2 Emissions ◽  
Structural Breaks ◽  
Unit Root Test ◽  
The United States ◽  
Policy Uncertainty ◽  
Energy Prices ◽  
Economic Policy Uncertainty ◽  
Long Run

This paper aims to examine the effects of economic policy uncertainty (measured by the World Uncertainty Index—WUI) on the level of CO2 emissions in the United States for the period from 1960 to 2016. For this purpose, we consider the unit root test with structural breaks and the autoregressive-distributed lag (ARDL) model. We find that the per capita income promotes CO2 emissions in the long run. Similarly, the WUI measures are positively associated with CO2 emissions in the long run. Energy prices negatively affect CO2 emissions both in the short run and the long run. Possible implications of climate change are also discussed.

scholarly journals Ethanol, the Agricultural Economy, and Rural Incomes in the United States: A Bivariate Econometric Approach

2014 ◽  
Vol 43 (2) ◽  
pp. 319-333 ◽  
Author(s):  
Samson O. Akinfenwa ◽  
Bashir A. Qasmi
Keyword(s):  
United States ◽  
Ethanol Production ◽  
Structural Breaks ◽  
Value Added ◽  
The United States ◽  
Causal Relationships ◽  
Agricultural Economy ◽  
Net Returns ◽  
Long Run ◽  
Short Run

We examine the causal relationships between ethanol production and the agricultural economy and rural incomes in the United States for 1981 through 2010. We use bivariate cointegration and Granger causality procedures and account for two structural breaks in ethanol production in the analysis, which shows that ethanol production Granger-caused agricultural net value added, agriculture's share of U.S. employment, net returns to operators, and rural income per capita in the short run. These causal relationships generally persisted in the long run. However, the causality between ethanol and rural incomes diminished in the long run.

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

scholarly journals The world market for soybeans: price transmission into Brazil and effects from the timing of crop and trade

Nova Economia ◽  
2007 ◽  
Vol 17 (2) ◽  
pp. 241-270 ◽  
Author(s):  
Mario A. Margarido ◽  
Frederico A. Turolla ◽  
Carlos R. F. Bueno
Keyword(s):  
United States ◽  
Forecast Error ◽  
The United States ◽  
World Market ◽  
Price Transmission ◽  
Long Run ◽  
Cointegration Tests ◽  
The World ◽  
The Law ◽  
The One

This paper investigates the price transmission in the world market for soybeans using time series econometrics models. The theoretical model developed by Mundlack and Larson (1992) is based on the Law of the One Price, which assumes price equalization across all local markets in the long run and allows for deviations in the short run. The international market was characterized by three relevant soybean prices: Rotterdam Port, Argentina and the United States. The paper estimates the elasticity of transmission of these prices into soybean prices in Brazil. There were carried causality and cointegration tests in order to identify whether there is significant long-term relationship among these variables. There was also calculated the impulse-response function and forecast error variance decomposition to analyze the transmission of variations in the international prices over Brazilian prices. An exogeneity test was also carried out so as to check whether the variables respond to short term deviations from equilibrium values. Results validated the Law of the One Price in the long run. In line with many studies, this paper showed that Brazil and Argentina can be seen as price takers as long as the speed of their adjustment to shocks is faster than in the United States, the latter being a price maker.

United States Strategic Interests in Latin America: An Assessment

1997 ◽  
Vol 39 (1) ◽  
pp. 45-57 ◽  
Author(s):  
Albert R. Coll
Keyword(s):  
United States ◽  
Latin America ◽  
The United States ◽  
Second World War ◽  
Economic Prosperity ◽  
World War ◽  
Long Run ◽  
The Us ◽  
Areas Of Concern ◽  
Second World

As of 1997, the United States faces an unprecedented degree of security, stability, and economic prosperity in its relations with Latin America. Never before have US strategic interests in Latin America been as well-protected or have its prospects seemed, at least on the surface, so promising. Yet while the US strategic interests are in better shape — militarily, politically, and economically — this decade than at any time since the end of the Second World War, some problems remain. Over the long run, there is also the risk that old problems, which today seem to have ebbed away, will return. Thus, the positive tone of any contemporary assessment must be tempered with an awareness of remaining areas of concern as well as of possible future crises.

scholarly journals INTERVENSI KEBIJAKAN MONETER TERHADAP INVESTASI PORTOFOLIO: KASUS INDONESIA DAN AMERIKA SERIKAT

2020 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Nanda Alfarina ◽  
Hasdi Aimon
Keyword(s):  
United States ◽  
Interest Rate ◽  
Secondary Data ◽  
The United States ◽  
Portfolio Investment ◽  
Mechanism Analysis ◽  
Long Run ◽  
Negative Effect ◽  
The Difference ◽  
Effect Of Monetary Policy

This study aims to determine the effect of monetary policy measured by the central bank’s policy rate (X1) on portfolio investment (Y) in Indonesia and United States in the long run. The data used are secondary data seouced from SEKI BI, FRED The FEd, coinmarketcap.com, and investing.com, with the VECM (Vector Error Correction Mechanism) analysis methode. The study show The study shows the differences between the results that occur in Indonesia and the United States. The policy interest rate has a significant positive effect on portfolio investment in the long run in Indonesia, while in the United States the interest rate in the long run has a significant negative effect on portfolio investment. The difference in research results between the two countries shows the need for different treatment for monetary authorities in encouraging portfolio investment 

Chapter III. The World Overseas

1963 ◽  
Vol 23 ◽  
pp. 33-42
Keyword(s):  
United States ◽  
Industrial Production ◽  
World Trade ◽  
The United States ◽  
Fourth Quarter ◽  
Long Run ◽  
United States Economy ◽  
The World ◽  
Second Year

The outlook for world industrial production—and consequently in the long run for world trade-is, if anything, a little more cheerful than it was in November. The prospect is still that the rise in both will be slower than in recent years; but the risk that there might be no rise at all is much smaller than it was. First, the fears of any appreciable dip in the United States economy this year have largely evaporated. Then, for the second year running, industrial production in EEC countries, after apparently flattening off in the middle of the year, rose in the fourth quarter; this adds some confirmation to the forecast of a reasonable rise in EEC output next year.

Altar Call in Europe

2021 ◽  
Author(s):  
Uta A. Balbier
Keyword(s):  
United States ◽  
New York ◽  
United Kingdom ◽  
Cold War ◽  
The United States ◽  
The United Kingdom ◽  
Long Run ◽  
Altar Call ◽  
The 1950S ◽  
International Ministry

This book provides a transnational history of Billy Graham’s revival work in the 1950s, zooming in on his revival meetings in London (1954), Berlin (1954/1960), and New York (1957). It shows how Graham’s international ministry took shape in the context of transatlantic debates about the place and future of religion in public life after the experiences of war and at the onset of the Cold War, and through a constant exchange of people, ideas, and practices. It explores the transnational nature of debates about the religious underpinnings of the “Free World” and sheds new light on the contested relationship between business, consumerism, and religion. In the context of Graham’s revival meetings, ordinary Christians, theologians, ministers, and church leaders in the United States, Germany, and the United Kingdom discussed, experienced, and came to terms with religious modernization and secular anxieties, Cold War culture, and the rise of consumerism. The transnational connectedness of their political, economic, and spiritual hopes and fears brings a narrative to life that complicates our understanding of the different secularization paths the United States, the United Kingdom, and Germany embarked on in the 1950s. During Graham’s altar call in Europe, the contours of a transatlantic revival become visible, even if in the long run it was unable to develop a dynamism that could have sustained this moment in these different national and religious contexts.

Revolution

2019 ◽  
pp. 159-184
Author(s):  
David Gutman
Keyword(s):  
United States ◽  
Ottoman Empire ◽  
Return Migration ◽  
Sharp Increase ◽  
The United States ◽  
Armenian Genocide ◽  
International Mobility ◽  
Freedom Of Movement ◽  
In Transit

This chapter explores the aftermath of the 1908 ‘Young Turk’ Revolution in the Ottoman Empire that resulted in the reinstatement of the Ottoman Constitution and the lifting of most restrictions on both domestic and international mobility. As the Chapter demonstrates, the lifting of the migration ban resulted in a sharp increase in both out-migration and return migration. At the same time, the United States and other migrant-receiving states were strengthening restrictions on immigration, stranding many Ottoman migrants in transit ports throughout Europe. Also, Istanbul was forced to balance its commitment to freedom of movement with its growing demand for military-aged men and its increasing concern about the effects of migration on the empire’s economy. The chapter concludes with the Armenian genocide, its aftermath, and the legacies of migration.

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