Table 1: Cyclicality of capital gains on domestic stock market
|
Domestic Currency |
US Dollar | |||
|
FE |
FE + TE |
FE |
FE + TE | |
|
(1) |
(2) |
(3) |
(4) | |
|
Real rate of capital |
1.33 |
-0.56 |
1.59 |
-0.10 |
|
stock market |
(0.61)*** |
(0.57) |
(0.65)*** |
(0.60) |
Notes:
The explanatory variable is the real GDP growth rate. See text for definitions of all variables.
Estimation by generalised least squares with AR(1) correlated disturbances, heteroskedasticity
robust standard errors (in parentheses) and involving country fixed effects ((1) and (3)) and
country and time fixed effects ((2) and (4)), Time period: 1973-2006. Data availability varies by
country. ***, **, * denote significance at the 1, 5 and 10 percent levels respectively. Full regression
outputs are available upon request.
13
More intriguing information
1. New issues in Indian macro policy.2. Self-Help Groups and Income Generation in the Informal Settlements of Nairobi
3. Large Scale Studies in den deutschen Sozialwissenschaften:Stand und Perspektiven. Bericht über einen Workshop der Deutschen Forschungsgemeinschaft
4. The Prohibition of the Proposed Springer-ProSiebenSat.1-Merger: How much Economics in German Merger Control?
5. Computational Batik Motif Generation Innovation of Traditi onal Heritage by Fracta l Computation
6. ARE VOLATILITY EXPECTATIONS CHARACTERIZED BY REGIME SHIFTS? EVIDENCE FROM IMPLIED VOLATILITY INDICES
7. The name is absent
8. PEER-REVIEWED FINAL EDITED VERSION OF ARTICLE PRIOR TO PUBLICATION
9. Linking Indigenous Social Capital to a Global Economy
10. The name is absent