Persistence of the Misery Index in African Countries
This paper deals with the analysis of the misery index in a group of 55 African countries by using fractional integration or I(d) techniques. In doing so, we can measure the degree of persistence of the index in a more fexible way than with other methods that simply use integer degrees of diferentia...
| Autores: | , , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2020 |
| País: | España |
| Institución: | Universidad de Navarra |
| Repositorio: | Dadun. Depósito Académico Digital de la Universidad de Navarra |
| Idioma: | inglés |
| OAI Identifier: | oai:dadun.unav.edu:10171/66046 |
| Acceso en línea: | https://hdl.handle.net/10171/66046 |
| Access Level: | acceso abierto |
| Palabra clave: | Misery index Fractional integration Persistency African countries |
| Sumario: | This paper deals with the analysis of the misery index in a group of 55 African countries by using fractional integration or I(d) techniques. In doing so, we can measure the degree of persistence of the index in a more fexible way than with other methods that simply use integer degrees of diferentiation (zero or one). Our results indicate a large degree of heterogeneity across the countries, with some showing short memory behaviour (d=0); others long memory mean reverting behaviour (0<d<1) and others indicating the presence of unit roots (d=1). Thus, shocks will have diferent efects depending on the country examined. Generally, we also fnd a positive relationship between the levels of persistence and income. |
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