Browsing Economics (Working Papers) by Author "Fountas, Stilianos"
Now showing items 1-20 of 29
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Are Economic Growth and the Variability of the Business Cycle Related? Evidence from Five European Countries
Fountas, Stilianos (National University of Ireland, Galway, 2002)We use a long series of annual data that span over 100 years to examine the relationship between output growth and output growth uncertainty in five European countries. Using the GARCH methodology to proxy output growth ... -
Are Greek budget deficits 'too large'?
Fountas, Stilianos (National University of Ireland, Galway, 1995-09)We use a residual-based cointegration test suggested by Gregory and Hansen (1992) that allows for the determination of a structural break in the cointegrating vector to test for the sustainability of Greek fiscal deficits ... -
Are the US current account deficits really sustainable?
Fountas, Stilianos (National University of Ireland, Galway, 1998-03)We have tested for a long-run relationship between four US export measures and analogous import measures (measured in nominal and real terms, levels and deflated by GNP) in the 1967-1994 period using quarterly data. ... -
Cointegration Tests of the Profit-maximising Equilibrium in Greek Manufacturing 1958-1991
Fountas, Stilianos (National University of Ireland, Galway, 1997-05)This paper applies the recently developed cointegration techniques to test for a long-run equilibrium among real wages and the average productivity of labour as implied by profit maximisation in the Greek manufacturing ... -
Current Account Deficit Sustainability: A Panel Approach
Fountas, Stilianos (National University of Ireland, Galway, 2004)In this paper we attempt to examine the issue of sustainability of current account imbalances in eight East Asia countries using the latest developments in nonstationary panel data analysis. The methods of nonstationary ... -
Does the Exchange Rate Regime Affect Export Volumes? Evidence from Bilateral Exports in the US-UK trade: 1900-1998
Fountas, Stilianos (National University of Ireland, Galway, 2000)By utilizing the techniques of multivariate cointegration and error correction models, we investigate the impact of the different exchange-rate regimes that spanned the 20th century on the bilateral exports between the UK ... -
An empirical analysis of inward foreign direct investment flows in the European Union with emphasis on the market enlargement hypothesis
Fountas, Stilianos (National University of Ireland, Galway, 1995-09)We use a cross-section, time-series approach to study the determinants of foreign direct investment (FDI) in the European union with particular emphasis on the expectations of a Single Market following the Single European ... -
An empirical analysis of short-run and long-run Irish export functions : does exchange rate volatility matter?
Fountas, Stilianos; Murphy, Eithne (National University of Ireland, Galway, 1998-04)We analyse the long-run and short-run relationship between merchandise export volume and its determinants, foreign income, relative prices and exchange rate variability, using the techniques of cointegration and ... -
Exchange Rate Volatility and Exports: The Case of Ireland
Fountas, Stilianos (National University of Ireland, Galway, 1997-05)We use the techniques of cointegration and error-correction models to estimate long-run and short-run export demand functions for Ireland using quarterly data for the 1979-1993 period. We consider three determinants of ... -
A GARCH Model of Inflation and Inflation Uncertainty with Simultaneous Feedback
Fountas, Stilianos (National University of Ireland, Galway, 2000)We examine the relationship between inflation and inflation uncertainty using a GARCH model that allows for simultaneous feedback between the conditional mean and variance of inflation. We also derive a number of theoretical ... -
Has the European Monetary System Led to More Exports? Evidence from Four European Union Countries
Fountas, Stilianos (National University of Ireland, Galway, 1998-10)We attempt to investigate whether the ERM period has coincided with an increase in intra-EU exports. We conclude that this has not been the case but it is likely that the elimination of nominal exchange rate variability ... -
The Impact of the Exchange Rate Regime on Exports: Evidence from Bilateral Exports in the European Monetary System
Fountas, Stilianos (National University of Ireland, Galway, 1999)By employing the techniques of multivariate cointegration and error-correction models, we investigate the impact of the creation of the European Monetary System (EMS) on the exports of the four largest EU countries to each ... -
The Impact of the Exchange Rate Regime on Exports: Evidence from the European Monetary System
Fountas, Stilianos (National University of Ireland, Galway, 1999)We employ the econometric techniques of multivariate cointegration and error-correction models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) ... -
The impact of the exchange rate regime on exports: evidence from the European Monetary System.
Fountas, Stilianos (National University of Ireland, Galway, 1999)We employ the econometric techniques of multivariate cointegration and errorcorrection models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) ... -
Inflation and Output Growth Uncertainty and their Relationship with Inflation and Output Growth
Fountas, Stilianos (National University of Ireland, Galway, 2001)Using a bivariate GARCH model of inflation and output growth we find evidence that higher inflation and more inflation uncertainty lead to lower output growth in the Japanese economy. These results support the argument of ... -
Inflation, Inflation Uncertainty, and a Common European Monetary Policy
Fountas, Stilianos (National University of Ireland, Galway, 2001)The relationship between inflation and inflation uncertainty is investigated in six European Union countries for the period 1960 to 1999. EGARCH models are used to generate a measure of inflation uncertainty and then Granger ... -
Inflation, Inflation Uncertainty, and a Common European Monetary Policy
Fountas, Stilianos (National University of Ireland, Galway, 2001)The relationship between inflation and inflation uncertainty is investigated in six European Union countries for the period 1960 to 1999. EGARCH models are used to generate a measure of inflation uncertainty and then Granger ... -
The Monetary Transmission Mechanism: Evidence and Implications for European Monetary Union
Fountas, Stilianos (National University of Ireland, Galway, 1999)We provide some evidence consistent with a heterogeneous credit channel of monetary policy transmission in the European Union. Using the techniques of cointegration and Error Correction Models, we have shown that the ... -
The Monetary Transmission Mechanism: evidence and implications for European monetary union.
Fountas, Stilianos (National University of Ireland, Galway, 1999-06)We provide some evidence consistent with a heterogeneous credit channel of monetary policy transmission in the European Union. Using the techniques of cointegration and Error Correction Models, we have shown that the ... -
On the Sustainability of Current Account Deficits: Evidence from Four ASEAN Countries
Fountas, Stilianos (National University of Ireland, Galway, 2002)This paper examines the sustainability of the current account imbalance for four ASEAN countries (Indonesia, Malaysia, the Philippines and Thailand) over the 1961-1999 period. To this end, we utilize the intertemporal ...