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Global measure of causal intensity between real and financial spheres

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  • Samuel Bates

Abstract

The lack of theoretical consensus on the causality direction between real and financial spheres as well as on the macroeconomic importance of transmission channels drive to an empirical approach of the links between the two areas. The aim of this paper is to offer a method for the analysis of the causal structure between the two spheres according to the transmission channels. It becomes possible globally on short and long runs for a given country to better surround mechanisms intervening inside the feedback between real and financial areas.

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  • Samuel Bates, 2005. "Global measure of causal intensity between real and financial spheres," Applied Economics, Taylor & Francis Journals, vol. 37(14), pages 1635-1642.
    • Handle: RePEc:taf:applec:v:37:y:2005:i:14:p:1635-1642
    DOI: 10.1080/00036840500214306
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    3. John B. Taylor, 1995. "The Monetary Transmission Mechanism: An Empirical Framework," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 11-26, Fall.
    4. Davidson, James E H, et al, 1978. "Econometric Modelling of the Aggregate Time-Series Relationship between Consumers' Expenditure and Income in the United Kingdom," Economic Journal, Royal Economic Society, vol. 88(352), pages 661-692, December.
    5. Franklin R. Edwards & Frederic S. Mishkin, 1995. "The decline of traditional banking: implications for financial stability and regulatory policy," Economic Policy Review, Federal Reserve Bank of New York, vol. 1(Jul), pages 27-45.
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    Cited by:

    1. Chandrashekar Raghutla & Krishna Reddy Chittedi, 2021. "Financial development, real sector and economic growth: Evidence from emerging market economies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6156-6167, October.
    2. repec:dau:papers:123456789/1483 is not listed on IDEAS

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