Entrepreneurship and unemployment: a nonlinear bidirectional causality
Joao Ricardo Faria, Juan Carlos Cuestas, Estefania Mourelle
This paper tests the view that the relation between unemployment and entrepreneurship is dynamic and possibly nonlinear. It performs Granger-causality tests and STAR-EXT estimation to assess the...
Nonlinearities in real exchange rate determination: do African exchange rates follow a radom walk?
Juan Carlos Cuestas, Estefania Mourelle
In this paper we aim at modelling the long run behaviour of the Real Effective Exchange Rates (REER) for a pool of African countries. Not much attention has been paid to this group of countries, in...