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Global measure of causal intensity between real and financial spheres

Bates, Samuel (2005), Global measure of causal intensity between real and financial spheres, Applied Economics, 37, p. 1635-1642. http://dx.doi.org/10.1080/00036840500214306

Type
Article accepté pour publication ou publié
Date
2005
Journal name
Applied Economics
Volume
37
Publisher
Routledge
Pages
1635-1642
Publication identifier
Metadata
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Author(s)
Bates, Samuel cc
Abstract (EN)
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.
Subjects / Keywords
Transmission channels; Financial; Monetary; Causality
JEL
E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
E44 - Financial Markets and the Macroeconomy