...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Economic modelling >How much should we trust five-year averaging to purge business cycle effects? A reassessment of the finance-growth and capital accumulation-unemployment nexus
【24h】

How much should we trust five-year averaging to purge business cycle effects? A reassessment of the finance-growth and capital accumulation-unemployment nexus

机译：我们应该多么信任五年的平均来清除商业周期效应？ 重新评估金融增长和资本积累 - 失业Nexus

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Averaging data over five years is the canonical approach to purge business cycle effects in cross-country/time-series studies. This neglects that business cycles have been found to last 7-10 years on average, with substantial heterogeneity within and between countries. We assess if five-year averaging leads to insufficiently purged cyclical effects and biased estimates by replicating studies that, based on five-year averaging, find growth-enhancing effects of finance for a panel of 130 countries, and unemployment-reducing effects of capital accumulation for a panel of 20 OECD countries. To test if five-year averaged data is purged from cyclical effects we add output gap measures as controls, which are highly significant and strongly narrow the effects of the key explaining variables, often resulting in insignificant estimates. Too much finance is robustly found to harm growth. Easily implementable alternatives to five-year averaging are discussed.
机译：五年以上的平均数据是在越野/时间序列研究中吹扫商业周期效应的规范方法。 这忽视了持续7 - 10年的商业周期平均，国家内部和之间具有实质性的异质性。 我们评估如果五年的平均值，通过对五年平均来说，通过对五年的平均来说，为130名国家的金融的增长增长影响以及资本积累的失业影响而发现财务增长效果，以及资本积累的失业效果，以及资本积累的失业效应不足，均致循环效应和偏见估算。 对于20个经合组织国家的小组。 为了测试5年的平均数据是否从循环效果中清除了我们将输出差距措施添加为控制，这是非常显着的，并且强烈缩小关键解释变量的影响，通常导致微不足道的估计。 强大地发现过多的金融造成危害增长。 讨论了五年的平均替代方案。

著录项

相似文献

  • 外文文献
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号