GEORGIOS CHORTAREAS PDF

Financial development and economic activity in advanced and developing open economies: Evidence from panel cointegration. G Chortareas, G Magkonis. Office: 1, Sofokleous & Aristidou str., 5th floor, office Tel: email : gchortar[at]econ,uoa[dot]gr. Personal Website: Georgios Chortareas. Research Economist,. Dr Chortareas has been a Research Economist in the International Economic Analysis Division, Monetary Analysis.

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Most widely held works by Georgios Chortareas. PPP and the real exchange rate-real interest rate differential puzzle revisited: Does it pay to be transparent?

Los Bancos centrales nacionales en el sistema europeo de bancos centrales by Jordi Bacaria Book 5 editions published in in Spanish and held by 12 WorldCat member libraries worldwide. Districting and the european system of central banks by Jordi Bacaria Book 3 editions published in in Spanish and Catalan and held by 10 WorldCat member libraries worldwide. Transparency in monetary policy Book 1 edition published in in English and held by 2 WorldCat member libraries worldwide.

Chortareas, Georgios [WorldCat Identities]

Essays on the political economy of central banking by Georgios Chortareas 1 edition published in in English and held by 2 WorldCat member libraries worldwide.

An investigation of current account solvency in Latin America using non linear stationarity tests by Georgios Chortareas 1 edition published in in English and held by 1 WorldCat member library worldwide Using a new methodology that allows for nonlinearities, we find frequent support for sustainability in the debt of a set of Latin American countries.

Our findings overturn results obtained with traditional unit-root tests and provide chotrareas more realistic alternative to evaluate the external solvency of an economy. New consensus and monetary policy delegation 1 edition published in in Undetermined and held by 1 WorldCat member library worldwide. Identifying mean-reverting real exchange rates in panels by Georgios Chortareas 1 edition published in in English and held by 1 WorldCat member library worldwide Recent advances in testing for the validity of Purchasing Power Parity PPP focus on the time series properties of real exchange rates in panel frameworks.

Choortareas weakness of such tests, gerogios, is that they fail to inform the researcher as to which cross-section units are stationary. As a consequence, a reservation for PPP analyses based on such tests is that a small number of real exchange rates in a given panel may drive the results. We introduce a methodology that when applied to a set of established panel-unit-root tests, allows to identify the real exchange rates that are stationary and poolable without trading-off any test power.

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We apply procedures that account for cross-sectional dependence. Our results reveal evidence of mean-reversion that is significantly stronger as compared to those obtained by the existing literature, strengthening the case for PPP.

Geprgios, our approach allows to provide half-lives estimates for the mean-reverting real exchange rates and so find that the half-lives are shorter than the literature consensus and therefore that the PPP puzzle is less pronounced than initially thought.

A nonlinear approach to public finance sustainability in Latin America by Georgios Chortareas Book 1 edition published in in English and held by 1 WorldCat member library worldwide. The yen real exchange rate may be stationary after all: The behaviour of the yen real exchange rate has most stubbornly challenged the PPP hypothesis chortateas deepened this puzzle. This paper contributes to this discussion by providing new evidence on the stationarity of bilateral yen real exchange rates.

We employ a non-linear version of the Augmented Dickey-Fuller test, based on an exponentially smooth-transition autoregressive model ESTAR that enhances the power of the tests against mean-reverting non-linear alternative hypotheses. Our results suggest that the bilateral yen real exchange rates against the other G7 and Asian currencies were mean reverting during the post-Bretton Woods era.

Thus, chortaraes real yen behaviour may not be so different after all but simply perceived to be so due to the use of a restrictive alternative hypothesis in previous tests. The Yen real exchange rate may be stationary after all: Evidence from nonlinear unit-root tests by Georgios Chortareas 1 edition published in in English and held by 1 WorldCat member library worldwide The empirical literature that tests for purchasing power parity PPP by focusing on the stationarity of real exchange rates has so far provided, at best, mixed results.

The yen real exchange rate behavior, as compared to other major currencies, has most stubornly challenged the PPP hypothesis and deepened this puzzle.

We employ a non-linear version of the Augmented Dickey-Fuller test, based on an exponentially smooth-transition autogregressive model ESTAR that enhances the power of the tests against mean-reverting nonlinear alternative hypotheses. Thus, the real yen behavior may not be so different after all but simply perceived to be so chortareaw to the use of a restrictive alternative hypothesis in previous tests.

Fiscal and Debt Policies for the Future

A nonlinear approach to public finance sustainability in Latin America by Georgios Chortareas 1 edition published in in English and held by 1 WorldCat member library worldwide The debt crisis in Latin America is associated with the large fiscal imbalances of the s; therefore public finance sustainability occupies the center of stabilization efforts in these economies.

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The literature examining this question in emerging economies is surprisingly scant and this paper aims at filling this gap. We analyze sustainability for chortageas sample of Latin American countries, employing unit root tests that incorporate nonlinear alternative hypotheses. These tests capture the thresholds or corridor regimes that international agreements or markets impose on emerging economies’ public finances.

Chortareas, Georgios

We show that support for sustainability substantially improves when such nonlinearities are taken into account. How puzzling is the PPP puzzle? An alternative half-life measure of convergence to PPP by Georgios Chortareas chortaeeas edition published in in English and held by 1 WorldCat member library worldwide The lengthy half-lives of real exchange rates in the presence of high degree of exchange rate volatility has been considered as one of the most puzzling empirical regularities in international macroeconomics.

This paper suggests that cgortareas measure of half-life used in the literature might be problematic and suggests an alternative measure. Empirical analysis suggests georvios use of the new measure may shed light on the PPP puzzle.

Current account imbalances and real exchange rates in the Euro area by Michael G Arghyrou 1 edition published in in English and held by 1 WorldCat member library worldwide. Fiscal policies and monetary leadership in a Monetary Union with a deficit-concerned Central Bank by Georgios Chortareas 1 edition published in in English and held by 1 WorldCat member library worldwide.

An investigation of current account solvency in Latin America using non linear stationarity tests by Georgios Chortareas Book 1 edition published in in English and held by 1 WorldCat member library geortios.

Balance of payments Balance geogios payments–Econometric models Banks and banking, Central Business cycles–Econometric models Economic forecasting Europe–European Union countries Foreign exchange rates Foreign exchange rates–Econometric models Monetary policy Portfolio management Purchasing power parity Saving and investment. English 32 Spanish 7 Catalan 1. Project Page Feedback Known Problems.