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The long-term causality. A comparative study for some EU countries

Listed author(s):
  • Ioana Viașu

    ()

    (Faculty of Economics and Business Administration, West University of Timisoara)

Confronted with the inadequacies of the macro econometric models of Keynesian inspiration, Sims (1980) formulates the famous criticism of Sims and proposes a multivariate modelling, where the only limitations are the choice of the selected variables and the number of integrated delays. An alternative to this formulation is the starting point of this article namely, only statistical data can confirm a theory. As it is well-known, the endogenous growth models usually examine all kinds of dependencies between macroeconomic variables. In this paper, we propose an analytical approach of some of these dependencies via the VAR approach, in order to put in evidence the causal effect and to do a comparative study of three EU countries Germany, France and Romania. The obtained results widely confirm the theoretical hypotheses of the endogenous growth models.

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File URL: http://cmss.univnt.ro/wp-content/uploads/vol/split/vol_III_issue_2/CMSS_vol_III_issue_2_art.004.pdf
File Function: First version, 2015
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Article provided by "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences in its journal Computational Methods in Social Sciences (CMSS).

Volume (Year): 3 (2015)
Issue (Month): 2 (December)
Pages: 28-35

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Handle: RePEc:ntu:ntcmss:vol3-iss2-15-028
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  1. Stephan B. Bruns, Christian Gross and David I. Stern, 2014. "Is There Really Granger Causality Between Energy Use and Output?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
  2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
  3. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
  4. Dufour, Jean-Marie & Taamouti, Abderrahim, 2010. "Short and long run causality measures: Theory and inference," Journal of Econometrics, Elsevier, vol. 154(1), pages 42-58, January.
  5. Jean-Marie Dufour & Eric Renault, 1998. "Short Run and Long Run Causality in Time Series: Theory," Econometrica, Econometric Society, vol. 66(5), pages 1099-1126, September.
  6. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September.
  7. Stern, David I. & Enflo, Kerstin, 2013. "Causality between energy and output in the long-run," Energy Economics, Elsevier, vol. 39(C), pages 135-146.
  8. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
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