Nigar Hashimzade

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— In theory, the IMF could influence economic growth via several channels, among them being advice to policy makers, money disbursed under its programs, and its conditionality. This paper tries to separate those effects empirically. Using panel data for 98 countries over the period 1970–2000, it analyzes whether IMF involvement influences economic growth in(More)
This paper compares models of fractional processes and associated weak convergence results based on moving average representations in the time domain with spectral representations. Both approaches have been applied in the literature on fractional processes. We point out that the conventional forms of these models are not equivalent, as is commonly assumed,(More)
We propose a new asymptotic approximation for the sampling behavior of nonparametric estimators of the spectral density of a covariance stationary time series. According to the standard approach, the truncation lag grows more slowly than the sample size. We derive …rst order limiting distributions under the alternative assumption that the truncation lag is(More)
This paper considers the asymptotic distribution of the sample covariance of a nonstationary fractionally integrated process with the stationary increments of another such process –possibly, itself. Questions of interest include the relationship between the harmonic representation of these random variables, which we have analysed in a previous paper, and(More)
This paper reviews the di¤erences between the so-called type I and type II models of fractional Brownian motion, corresponding to the cases in which pre-sample shocks are either included in the lag structure, or suppressed. It is noted that there can be substantial di¤erences between the distributions of these two processes, and of functionals derived from(More)
The paper analyzes a multi-country extension of the Barro model of productive public expenditure. In the presence of positive infrastructural externalities between countries the provision of infrastructure will be ine¢ ciently low if countries do not coordinate. This provides a role for a supra-national body, such as the EU, to coordinate the policies of(More)
We consider Breitung's (2002) statistic ξ n which provides a nonparametric test of the I(1) hypothesis. If ξ denotes the limit in distribution of ξ n as n → ∞, we prove (Theorem 1) that 0 ≤ ξ ≤ 1/π 2 , a result that holds under any assumption on the underlying random variables. The result is a special case of a more general result (Theorem 3), which we(More)
The European Union has long maintained an intention to move to the origin principle of taxation but no progress has been made since the completion of the single market. The lack of progress seems surprising given the significant support for the origin principle in the economic literature. However, there is a contrast between the European Union that contains(More)
We analyze the non-cooperative interaction between two foreign exporting countries producing differentiated products and one domestic importing country when governments use optimal policies to maximize welfare. The analysis extends the model of Liao and Wong (2006) to include product differentiation, asymmetric costs, and Bertrand competition. For identical(More)
This paper considers large sample approximations to the covariances of a nonstationary fractionally integrated processes with the stationary increments of another such process – possibly, itself. Questions of interest include the relationship between the harmonic representation of these random variables, which we have analysed in a previous paper, and the(More)