Table 4: Cyclicality of capital gains on domestic bond market
|
Domestic |
Currency |
US Dollar | ||
|
Real rate of capital |
FE (1) |
FE + TE (2) -0.57 |
FE (3) |
FE + TE (4) |
|
gains on domestic |
(0.25)*** |
(0.24)*** |
(0.49)** |
(0.36) |
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 and robust standard
errors (in parentheses), involving country and time fixed effects. Panel (1984 — 2004). Data
availability varies by country. ***, **, * denote significance at the 1, 5 and 10 percent levels
respectively. Full regression outputs are available upon request.
16
More intriguing information
1. Optimal Taxation of Capital Income in Models with Endogenous Fertility2. Multifunctionality of Agriculture: An Inquiry Into the Complementarity Between Landscape Preservation and Food Security
3. CHANGING PRICES, CHANGING CIGARETTE CONSUMPTION
4. Chebyshev polynomial approximation to approximate partial differential equations
5. Testing for One-Factor Models versus Stochastic Volatility Models
6. Motivations, Values and Emotions: Three Sides of the same Coin
7. Spousal Labor Market Effects from Government Health Insurance: Evidence from a Veterans Affairs Expansion
8. Distortions in a multi-level co-financing system: the case of the agri-environmental programme of Saxony-Anhalt
9. Individual tradable permit market and traffic congestion: An experimental study
10. Ultrametric Distance in Syntax