Capital flight and political risk

Robert Lensink, Niels Hermes () and Victor Murinde
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Victor Murinde: Groningen University

No 98C34, Research Report from University of Groningen, Research Institute SOM (Systems, Organisations and Management)

Abstract: This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during a boom. Also some evidence is found for asymmetry in the United Kingdom and Belgium. In the Netherlands, monetary policy is not very effective in either regime.

Date: 1998
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Citations: View citations in EconPapers (2)

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http://irs.ub.rug.nl/ppn/188210113 (application/pdf)

Related works:
Journal Article: Capital flight and political risk (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:gro:rugsom:98c34

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