scholarly journals Followness of Altcoins in the Dominance of Bitcoin: A Phase Analysis

2021 ◽  
Vol 3 (3) ◽  
Author(s):  
Abhinandan Kulal
Keyword(s):  
Modern World ◽  
Vector Error Correction Model ◽  
Price Movement ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Price Estimation ◽  
High Dominance ◽  
High Level ◽  
The Relationship

Due to the transparency, simplicity, and blockchain system, cryptocurrencies gained popularity in the modern world. This led to more use of cryptocurrencies for speculation and investment rather than a medium of exchange. It is crucial to analyse the nature of the crypto market before investing in such currencies. With this intention, the paper tried to know the extent of following (Followness) of altcoins to the bitcoin in the different dominance phases like High Dominance, Low Dominance, and Moderate Dominance. For this purpose, daily closing prices of the Bitcoin and five major altcoins (Ethereum, Litecoin, Namecoin, Doge, and Ripple) are collected for the last five years and analyse the relationship between bitcoin and altcoins. Pearson's correlation coefficient test is used to know the direction of the relationship, and Vector Error Correction Model is used to see the extent of the relation. In general, the empirical result of the study showed cointegration between bitcoin and Altcoin. It also depicted that Altcoin showed a high level of followness in the moderate dominance phase and low followness in the low dominance phase. The study developed a price estimation equation to predict the price of altcoins depending upon the price of bitcoin and its dominance in the crypto market. This paper concludes that the dominance of Bitcoin also has a significant role in the price movement of altcoins.

Hunting the Snark: A Reply to “Re-Evaluating Valence Models of Political Choice”

2015 ◽  
Vol 4 (1) ◽  
pp. 221-240 ◽  
Author(s):  
Paul Whiteley ◽  
Harold Clarke ◽  
David Sanders ◽  
Marianne Stuart
Keyword(s):  
Structural Equation ◽  
Equation Model ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Electoral Choice ◽  
Party Preference ◽  
The Relationship ◽  
Valence Politics

This paper responds to Evans and Kat’s critique of the valence politics model of electoral choice. Their critique is deficient in several respects. First, the authors do not test the valence politics model, which is motivated by a theory of voting rather than a claim about the relationship between generalized measures of “party preference” and “party performance.” Second, Evans and Kat do not provide theoretical grounding for partisanship, which they claim is strongly exogenous to other variables of interest. Third, there are several specification and testing problems with their structural equation model. We study the properties of the valence model using a vector error correction model of aggregate monthly survey data gathered throughout the New Labour Era. Consistent with theoretical expectations, key valence politics variables constitute a powerful cointegrated system in which the dynamics of partisanship are endogenous to other variables in the system.

scholarly journals An Econometric Analysis of Inflation and Unemployment in Lebanon: A Vector Error Correction Model (VECM)

2018 ◽  
Vol 10 (2) ◽  
pp. 133
Author(s):  
Mohammad Khanssa ◽  
Wafaa Nasser ◽  
Abbas Mourad
Keyword(s):  
Phillips Curve ◽  
Vector Error Correction Model ◽  
Econometric Modeling ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Causality Relationship ◽  
The Relationship

This paper uses econometric modeling to test the nature of the relationship between unemployment and inflation in Lebanon throughout the period 1993-2014. It takes the Phillips curve relationship as a reference for the tests. Cointegration, Granger causality and VECM were used to test the relationship both in the short and in the long run. The study resulted in finding out that the Phillips curve relationship doesn’t hold in Lebanon in the short run and came to a conclusion that there is a one-way causality relationship in the long run from unemployment to inflation and not in the opposite direction.

scholarly journals Free Trade: Does Myopic Policy Overlook Long-Term Gains?

2017 ◽  
Vol 22 (2) ◽  
pp. 65-88
Author(s):  
Maryiam Haroon
Keyword(s):  
Trade Liberalization ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Myopic Policy ◽  
The Relationship

This article analyzes the correlation between trade liberalization and welfare in Pakistan from 1986 to 2015. Using consumption expenditure as a measure of welfare, we estimate the relationship using a vector error correction model. The empirical results show that trade liberalization does not have an immediate correlation with welfare: it takes some time for liberalization policies to enhance welfare. The findings also suggest that trade liberalization can help reduce poverty, decrease inequality and increase enrollment levels in the long run. But in the short run, trade liberalization has led to higher income inequality.

scholarly journals PENGARUH EKSPOR HASIL MINYAK DAN IMPOR MINYAK BUMI TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA

2021 ◽  
Vol 10 (1) ◽  
pp. 23
Author(s):  
Fadila Arza ◽  
Murtala Murtala
Keyword(s):  
Economic Growth ◽  
Secondary Data ◽  
Vector Error Correction Model ◽  
Short Term ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
The Relationship ◽  
Positive Effect

This study aims to analyze the effect of oil product exports and petroleum imports on the economic growth of Indonesia. This study uses secondary data. The method used to analyze the relationship between endogenous and exogenous variables is a dynamic model with the Vector Error Correction Model (VECM) approach. The results in the long-term and short-term show that Oil Products Exports have a positive effect on the Economic Growth of Indonesia. In the long-term and short-term, petroleum imports negatively influence the economic growth of Indonesia.Keywords:Oil Product Exports, Crude Oil Imports, Economic Growth

scholarly journals Socially Responsible Investment And Macroeconomic Stability In South Africa: An Application Of Vector Error Correction Model

2013 ◽  
Vol 29 (6) ◽  
pp. 1623 ◽  
Author(s):  
Paul F. Muzindutsi ◽  
Tshediso J. Sekhampu
Keyword(s):  
Interest Rates ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Responsible Investment ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Macroeconomic Stability

<p>The study reported in this article investigated the relationship between the Social Responsible Investment (SRI) sector and macroeconomic stability in South Africa. Johansen co-integration approach and Vector Error Correction Model (VECM) were employed to test the relationship between SRI Index and a set of macroeconomic stability variables (inflation, real exchange rate, interest rates and money supply). Secondary data for the period April 2004 to December 2012 was analysed. There was a long-run association between all the variables during the period under consideration. However, the inflation rate, real effective exchange rate and money supply were not significant in predicting short-run changes in the SRI Index. A significant short-run relationship between SRI Index and the difference between long term and short-term interest rates (term structure) was observed. Macroeconomic variables are significant in explaining the behavior of the South African SRI sector in the long-run.</p>

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